Celtic released accounts today for the year ending 30 June 2012, a season in which they won the league and exited Europe at the Europa League group stage. Turnover was down less than £1m at £51.34m but bank debt rose £2m to £2.77m despite a £7.37m loss (the difference between the increase in bank debt and the trading loss is due to the amortisation of player registrations, which hits the accounts evenly over the period of a player’s contract).
Football and stadium income dropped by £2m and merchandising dropped by £1m while multimedia and other commercial income rose almost £2m. Football and stadium operating costs rose by over £2m. The drop in stadium revenue and corresponding rise in costs are indicative of the wider economic pressures. Inflation is affecting Celtic’s costs and Celtic fans’ ability to spend with the club.
With debt sitting at around 5% of turnover and a significant uplift in income this season assured, the club is in remarkably rude health this far into an economic downturn. Champions League revenue this season should have a transformational effect on how Celtic can forward plan, potentially reversing that £7m loss.
Economic headwinds are likely to supress key ticket and merchandise revenue for the foreseeable future but Champions League revenues seem immune from these challenges. The primary plan for this season must be to qualify for the group stage of Europe’s top competition next season. Get there and we can continue to operate with the existing cost structures (and more) and still pay our taxes!
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Those poor wee hun players.
It seems they were duped into evading tax.
Gordon_J backing Neil Lennon
Sevconians??
good to see Benfica didn’t use a Parks bus..
ernie lynch
Fairs fair – it wouldn’t be hard to dupe Gordon Waddle on anything.
a 3 million debt, a 3 million spend and a 6 million sale,is that called balancing the books.
the first team squad hammered with about 15 players going out the door this summer and 3 brought in alongside the young bhoys.
next year we should break even before CL money etc… is taken into account.
i think we should avoid counting CL money into budgeting, but we should use most of that income to improve facilities for supporters (celtic triangle) which can generate income year on year and improve the match day etc… experience
to many people want better players etc… all the time and forget that to often those players offer little, we fill their pockets and away they go, thats no way to run a business or to be succesful in the long term
HC-Woke a few of us up mate :}
PFAyr, Bada Bing
The most interesting part of what the Stirling Albion chairman said was his description of the poor standard of behavior of the Sevconians on their previous visit. Also that the police would be ‘prepared’ this time.
S
MadMitch
modern day construction is all about quickness, easy to repair building, celtic are but one of many organisations that attempt to follow that route.
i have no problem with it, i have seen the plans and think they will/ are good because they will improve what is already in place with help generate money and will make a visit to celtic park more appealing than it is right now.
it may not be beautiful, but it will help to take us up a level if we manage to progress these plans and all the phases as well, i think that is where my issues lie, we have known about the commonwealth games for 5 years now yet nothing has changed
We spent a fair proportion of last week rightly condemning the Police cover up of Hillsborough. We have also shared words of condemnation for the police treatment of traveling football fans in this country.
However, the killings of two unarmed police officers in Manchester today are a reminder of the real dangers faced by rank and file policewomen and men in carrying out some thankless tasks.
May PCs Nicola Hughes and Fiona Bone RIP
Walk into any Pub in Glasgow on a Saturday when Celtic are playing and you will find one of the reasons we are losing money
During the 80s and 90s a regular core of between 8 and 10 of us travelled home and away for every Celtic match now there are 2 of us and the rest of that gallant band choose to support Celtic from the comfort of the pub
We couldn’t even fill 2 stands at Perh on Saturday
I think it was the Stirling Albion secretary, not chairman.
shady-If Annan is anything to go by mate,nothing will be reported.
Paul67
Can you explain to a non accountant how we can lose 7m and this is not the figure owed to the bank?
Paul
The other financials in our favour must be that the money for Ki has still to hit the books and that Lenny has drastically reduced the wage bill over recent times.
Could be worse, a lot worse.
HH
BT
Ah know :)
It’s an odd feeling….seems we have a decent enough squad, good age profile, some right good results in Europe …no currants etc
Howevah
Just feel that we don’t quite get it right, often enough, for a club our size
On to a glory season to remember, so I can happily eat my hat ..in a wanner :)
HH
Guy on Clyde exposing GW for being a tube – nice one Charles nailed him.
Brian Homewood @brianhomewood
San Siro eerily empty and quiet for AC Milan v Anderlecht
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Mickbhoy1888
how much did it cost in the 80;s in comparative terms to support the hoops?
petrol, tickets beers etc….
inflation, taxes. tories etc have taken their toll…
dessybhoy
Don’t go there pleeeeeeeeeeeeeeease.
AMORTISATION.
That was done to death year in year out for several years:o)
My condolences and sympathies are extended to both the families and colleagues of the two police officers murdered in Manchester today
mickbhoy1888
We, and by we, I mean all of scottish football could fill their grounds if they re introduced standing areas, and more importantly, slash prices.
The German model works.
I was on the Benfica site looking for tickets, noticed their prices were from 7.50 euros.
Ok Portugal and Germany would be poles apart when it come to the econemy, but their admission charges are on par.
If say the game at Perth was admission 10-15 quid, I bet the ground would have been full.
Full grounds make for good TV.
Steph
The plans for the “Triangle” are formulaic to the point of coma inducing.
Good design is free when compared to bad design.
The match day experience is currently very poor.
The food and drink offering outside of the free pie seats and the hospitality areas is abysmal.
We lose huge amounts of potential revenue through poor facilities, terrible service and complete lack of range and variety.
Money needs to be spent on upgrading the offering both inside and also outside the ground. The “Triangle opportunity should address these issues as well as the many more that are on any growth orientated CEO.
As things stand the hotel opportunity has gone and now it will sit on the south side of London Rd at Springfield Cross.
EDB
niece passed her UKCAT exam yesterday.Interview to follow
hopefully Glasgow or Dundee next year…(pending results)
did miss EDB keep those books? o))
EDB
ok wish I could amortisise my finances
I totally girfuy about that Anderlecht bet! Good luck to anyone who put it on.
I really fancy QOS to cause an upset tonight.
good take on the financial statement Paul,
I looked at the headlines on newsnow and the usual negative headlines from bbc and the scotsman which concentrated on Celtic having losses of £7 million!!!!
having read the statements released by Celtic, the situation sounds remarkably healthy to me,
Let’s hope the team are as healthy tomorrow night, i see Scott brown and Mulgrew both declared fit and also one report stating that Samaras took a full part in training today!!!!
Could he be able for tomorrow night????
1 more sleep!!!!!!!!!!!!!!!!!!!!!!!!!!!!
economy
Bada Bing
Interestingly, the Daily Record are heralding themselves for bringing the story to public knowledge and seeking a response from the Stirling Albion operations director “On behalf of everyone associated with the club, I apologise unreservedly for any offence caused to Rangers FC and their supporters.”
Absent, however, is any comment on the seriousness of the allegations – “Unruly behaviour, flares and unacceptable songs.” – or any indication that they have referred this to appropriate authorities. I would have expected a headline such as “Flare yobs’ cup shame” or is that reserved for us? Have the “unacceptable” songs been referred to the appropriate authorities by the match commander?
S
girfuy = forgot
A good example of why my kids dont get near my phone due to its ahem, memory. lol!
for previous reference to Gordon Waddle – I meant Gordon Dalziel – idiot right enuf
SSB getting it hard tonight……..LOL …and they’re still desperately peddling the idea that Celtic need sevco…… Why?, they’re a new team in SPL3 with a poisonous support…..WHY ON EARTH WOULD ANY TEAM NEED THAT LOT….??
Fantastic financial performance by Celtic, during a raging recession, which is nowhere near it’s end …….. Well done Celtic…!!!
I hope the players have got the message that the same level of focus / effort is required in EVERY game …… That’s why fans pay good money to follow their team…….every Celtic player should be directed to watch the whole of last night’s Everton v Newcastle game. Now, that’s professionalism.
BT
Comparitively I think it cost me more in the 80s to follow Celtic than it does now
There was not as much disposable income back then as there appears to be now
I think you know the answer why and it is not for fiscal reasons
The Stirling Albion official stated that the police would be ‘manning up’ to the huns.
The honeymoon is over for the huns on tour. At Annan they were made to leave the train station single file, produce identification and give their name whilst being filmed. They have rampaged up and down the country with the MSM choosing not to report it.
It seems someone has decided enough is enough.
blantyretim
Great news indeed.
And boy do we need a clearout:o)
bournesouprecipe
17:58 on
18 September, 2012
Yes, – solid figures indeed
Best figures I’ve seen in a while.
Dan
Asonofdan,
It really is despicably disgraceful that the MSM have taken the decision not to report on the sevco fans ? behaviour in the SFL3 ……… This needs to be addressed…!!
67Heaven
How are you mate? All excited for tomorrow? ;-)
Managed to catch the St J game on TV whilst sunning myself in Berlin with a Weissbeir! Lovely stuff, crap result! Couldnt agree more with your statement. The pundits on ESPN fired in several references to the old firm. The old firm is dead. If it were my club I would be publicly disowning myself from any reference to it. Even heard on the radio that both ours and newco results were due both clubs ‘missing each other’!!!! Argghhhhh!
M1888
maybe, maybe not…
I was 18/19 working and staying with my parents,
no worries, how many 18/19 year olds are working now compared to then?
the young fans are the future…we need them…