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Celtic PLC interim report

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Very healthy indeed. 

 

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CELTIC plc have released their Interim report for the first six months, to December 31, 2016.

Operational Highlights

• Currently top of the SPFL Premiership, having broken the 26-game domestic unbeaten run set by the Lisbon Lions in 1966/67 season.

• Winners of the Scottish League Cup, the club’s 100th trophy.

• 18 home fixtures (2015: 17) (excluding the International Champions Cup Tournament).

• Successfully qualified for the Group Stages of UEFA Champions League.

• Became the first stadium in the UK to accommodate 3,000 ‘safe standing’ section.

Financial Highlights

• Revenue increased by 94.7% to £61.2m (2015: £31.4m).

• Profit from trading was £21.4m (2015: £1.6m).

• Profit from transfer of player registrations (shown as profit on disposal of intangible assets) £2.0m (2015: £12.6m).

• Profit before taxation of £18.6m (2015: £11.7m).

• Period end net cash at bank of £18.6m (2015: £7.7m).

• Investment in football personnel of £9.5m (2015: £6.1m).

 

CHAIRMAN’S STATEMENT
I am pleased to report on our interim results for the period ended 31 December 2016. These show revenue of £61.2m (2015: £31.4m) and a profit from trading of £21.4m (2015: £1.6m). Overall this resulted in a profit before taxation of £18.6m (2015: £11.7m) and a period end net cash at bank of £18.6m (2015: £7.7m). The introductory page to these interim results summarises the main highlights.

We welcomed Brendan Rodgers and his backroom team to the Club in May 2016 to lead us into season 2016/17 amid remarkable scenes at Celtic Park. Within the period reported, we have achieved our key objective of qualification for the group stages of the UEFA Champions League and we have won the League Cup. We also currently sit 27 points clear at the top of the Scottish Premiership, whilst we continue to progress in the Scottish Cup with the prospect of winning our first domestic treble since 2001. The team also reached two major landmarks during the first half of this season. First, by securing our 100th trophy with our League Cup victory; and, second, by surpassing the 26-game domestic unbeaten record set by the Lisbon Lions in the 1966/67 season. We are clearly delighted with the progress to date and look forward to building on it.

From a financially stable base at the year end, during the summer transfer window we invested £9.5m (2015: £6.1m) in the playing squad with the acquisition of the registrations of Scott Sinclair, Moussa Dembele, Kolo Touré, Christian Gamboa and Dorus de Vries. Our profit on disposals of intangible assets of £2.0m (2015: £12.6m) largely reflects the transfer of the registration of Stefan Johansen to Fulham.  Subsequently, during the January 2017 transfer window, we have invested further by acquiring the registration of Eboue Kouassi.

We continue to pursue our strategy of investing in the Youth Academy. Kieran Tierney, Callum McGregor and James Forrest are all established first-team players and were important contributors in the group stages of the Champions League. Another prospect, Calvin Miller, made his debut for the first team in December 2016 following his progression through the Youth Academy and Development Squad. The Football Manager’s stated objective is to develop all players into Champions League players.

In December 2016 we were also delighted to announce the appointment of Sharon Brown as a non-executive director to the Company. Sharon brings a wealth of expertise and business acumen, especially from the retail sector, which will further enhance the skill-set of the Board.

The Board is optimistic about our immediate future and firmly supports the self-sustaining financial model that has served us well. We continue to seek to influence developments in domestic and European football through representation on the board of the Scottish Professional Football League, the European Club Association Executive Board and the UEFA Club Competitions Committee.

Looking forward, and entirely in line with our trading seasonality, we do not expect the same level of financial performance in the second half of 2017. In this period we will play fewer home fixtures and no European games. Our objective for the remainder of the year is to win the SPFL Premiership, secure the Scottish Cup and build towards the European qualifiers in the summer.

Off the park, we were proud to become the first club in the UK to offer 3,000 of our fans the option of viewing domestic matches in a ‘safer standing’ environment, with the installation of rail seating at Celtic Park. This has been very popular with fans and has attracted much interest from clubs in Scotland and England.

The Celtic FC Foundation, which sits external to the group, continues to go from strength to strength with its most successful Christmas Appeal to date. A remarkable total of over £220,000 was raised for its 2016 Christmas Appeal in less than two months through the collective effort of so many people including supporters, the Club, the manager, players, directors, trustees, partners, sponsors and funders. The positive impact that this will have cannot be underestimated and this great achievement truly reflects the core principles of the Club.

Going into 2017 we are also organising a series of exciting celebrations to mark the 50th anniversary of the Club’s greatest triumph, winning the European Cup in Lisbon in 1967. It is appropriate that we commemorate this unique achievement and the celebrations will be something for the Lisbon Lions and our fans to share and to be proud of.

Finally, I would like to once more to extend my thanks and gratitude to our fans, shareholders and partners. In particular, a special mention must go to our fans for their overwhelming backing of Brendan and the team, which I am sure, has played a huge part in the success enjoyed so far.

Ian P Bankier
6 February 2017
Chairman

http://www.celticfc.net/news/12045

 

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Celtic to receive further €7.15m in Champions League cash

 

Celtic are set for another €7.15m from Uefa for this season's Champions League campaign after the payment schedule for the competition was revealed.

The Scottish champions published their interim report on Monday, announcing a pre-tax profit of £18.6m that was in part down to participation in Europe's elite competition.

Those figures covered the six months up to December 31 but STV has learned Celtic are still due a final payment from European football's governing body.

 

All Champions League clubs will receive the second half of their television money on June 9, meaning Celtic can count on another €7.15m, £6.2m at today's exchange rate, despite having exited the competition at the group stage.

That will bring Celtic's earnings from this season's competition to €30.5m.

 

Brendan Rodgers' side reached the group stage by coming through qualifiers against Lincoln Red Imps, Astana and Hapoel Be'er Sheva with the final tie earning them €2m as play-off winners.

Playing against Barcelona, Manchester City and Borussia Monchengladbach in the group earned €12.7m just for taking part. Three draws, twice against Pep Guardiola's men and once against Borussia, brought a further €1.5m as a performance bonus.

Those payments, along with half of the television money (€7.15m) were made before the end of 2016. The remaining 50% of the market pool for broadcast will be paid on June 16.

Celtic's Champions League earnings

  • Play-off participation - €2m
  • Group stage participation - €12.7m
  • Group stage performance bonus - €1.5m
  • First stage of TV market pool payment - €7.15m
  • Second stage of TV market pool payment - €7.15m

https://stv.tv/sport/football/1380140-celtic-to-receive-further-7-15m-in-champions-league-cash/

 

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