Celtic (CCP) H2 2024 earnings summary

Executive summary

• Achieved domestic success with men's team winning the Scottish Premiership and Scottish Cup, and women's team securing their first SWPL title.

• Revenue increased 3.9% year-over-year to £124.6m, driven by Champions League participation and strong retail performance.

• Profit before tax fell to £17.8m from £40.7m due to lower player sale gains, higher wage costs, and absence of prior year's non-recurring income.

• Significant investments made in player registrations (£16.6m) and infrastructure, including Barrowfield redevelopment.

• Year-end cash position improved to £77.2m, reflecting strong trading but tempered by capital and squad investments.

Financial highlights

• Revenue: £124.6m (2023: £119.9m), up 3.9% year-over-year.

• Operating expenses: £105.4m (2023: £95.4m), up 10.4% due to wage inflation and overheads.

• Profit before tax: £17.8m (2023: £40.7m), impacted by lower player trading gains and absence of £13.5m non-recurring income.

• Net profit after tax: £13.4m (2023: £33.3m).

• Cash and cash equivalents: £77.2m (2023: £72.3m).

• Earnings per share: 14.14p (2023: 35.26p).

Outlook and guidance

• Automatic qualification for the new UEFA Champions League format in 2024/25 provides financial planning certainty.

• Continued focus on domestic dominance and improved European performance.

• Ongoing investment in squad and infrastructure, including Barrowfield and stadium upgrades.

• Early domestic season performance is positive, with the club top of the league on goal difference.