Celtic (CCP) H1 2025 earnings summary

Executive summary

• Revenue for the six months to 31 December 2024 decreased by 2.1% to £83.5m compared to the same period last year.

• Profit before tax rose to £43.9m from £30.3m year-over-year, driven by significant gains on player trading.

• Participation in both Men's and Women's UEFA Champions League group stages, with the Men's team qualifying for the play-off round post period-end.

• Won the Premier Sports Cup 2024 and currently lead the SPFL by 13 points.

Financial highlights

• Profit from trading before intangible asset transactions was £26.9m, down from £32.0m year-over-year.

• Profit on disposal of intangible assets (player sales) surged to £21.5m from £2.6m.

• Period-end cash stood at £65.4m, compared to £67.3m a year earlier.

• Basic EPS increased to 34.70p from 23.98p; diluted EPS rose to 24.25p from 16.79p.

• Operating expenses before intangible asset transactions increased to £56.5m from £53.2m.

Outlook and guidance

• UEFA revenue deferral due to new format will reverse in the second half of FY25.

• Full-year financial performance expected to be significantly lower than the first half due to seasonality and lower player trading gains in January.