The impact of Champions League group participation on Celtic’s interim accounts for the six month to 31 December 2022 was significant. Revenue increased by 44.8% to £76m. That’s more than the entire year’s revenue for the seasons to June 2020 and June 2021.
This was achieved despite the World Cup break, which reduced the number of home games to 14 (2021: 19). Celtic account for season ticket revenue as games are played, so more revenue will be recognised in the second part of the financial year. Despite the remarkable increase in income, operating expenses moved little, to £48.3m (2021: £45.8m)
This means that the club are certain to break the revenue record set in season 2017-18, which reached £101m. One big change from the previous interims is profit from player trading, down to £1.8m from a Edouard-spacular £25.8m a year earlier. As long as Celtic trade very profitably or reach the Champions League group stage, they will be comfortably in the black. Achieving both would be transformational for our football budget metrics.
Merchandising – yet again – edged up to £17.4m (2021: £15.3m). Multimedia and other commercial income rose to £30.8m from £13.9m, reflecting not only Champions League football but the commercially successful Sydney tournament. More of this kind of thing, please.
You and I have been here before. Looking back on successful interims only feels right if we are confident of winning the league. We are currently in that position, with the added benefit of playing for automatic Champions League qualification next term.
Well done to each of the departments behind these figures, and to the Celtic supporters who stand by their club with enormous conviction.
Great start to the weekend!