Workflow
Manchester United(MANU)
icon
Search documents
Manchester United Partners With SCAYLE on New Global E-Commerce Experience
Businesswire· 2024-01-23 10:00
MANCHESTER, England--(BUSINESS WIRE)--Manchester United has today announced it has chosen SCAYLE as its official e-commerce platform partner, ensuring United has one of the most modern commerce platforms in the industry. The club’s new e-commerce experience will launch later this year and continue to be evolved in alignment with the club’s ambition of delivering a best in class direct-to-consumer experience for its global fan base. SCAYLE is one of the fastest-growing enterprise e-commerce platforms in t ...
Manchester United PLC Appoints Omar Berrada as New CEO
Businesswire· 2024-01-20 21:30
Core Viewpoint - Manchester United has appointed Omar Berrada as the new Chief Executive Officer, marking a significant step towards revitalizing the club's focus on football performance and achieving its ambition of becoming a title-winning team [1][2]. Group 1: Appointment of CEO - Omar Berrada brings extensive experience in football management, having previously served as Chief Football Operations Officer for City Football Group and held senior roles at Barcelona [1]. - The club aims to re-establish itself at the top of English, European, and world football, echoing the vision of legendary manager Sir Matt Busby [2]. Group 2: Club Overview - Manchester United is recognized as one of the most popular and successful sports teams globally, with a rich 146-year football heritage and a record of 67 trophies [3]. - The club boasts a global community of 1.1 billion fans and followers, providing a substantial platform for revenue generation through various channels such as sponsorship, merchandising, and broadcasting [3].
Manchester United a long-term growth opportunity despite mixed 1Q results
Proactive Investors· 2024-01-19 19:07
Group 1 - Proactive provides fast, accessible, informative, and actionable business and finance news content to a global investment audience [2] - The news team operates from key finance and investing hubs including London, New York, Toronto, Vancouver, Sydney, and Perth [2] - Proactive focuses on medium and small-cap markets while also covering blue-chip companies, commodities, and broader investment stories [2] Group 2 - The company specializes in various sectors including biotech and pharma, mining and natural resources, battery metals, oil and gas, crypto, and emerging digital and EV technologies [2] - Proactive adopts technology to enhance workflows and improve content production [3] - All content published by Proactive is edited and authored by humans, ensuring adherence to best practices in content production and search engine optimization [3]
Manchester United shares slide as early Champions League exit hits revenue guidance
Market Watch· 2024-01-17 16:53
Manchester United shares fell Wednesday after the iconic English soccer club lowered its 2024 revenue guidance, citing the club’s early exit from the Champions League and the related impact on broadcasting revenues.The club exited the Champions League at the group stage in December following a 1-0 defeat by German giants Bayern Munich at Manchester United’s Old Trafford Stadium. Manchester United last won the Champions League in 2008.Shares of operator Manchester United Ltd. MANU, -5.09% fell 5.8% Wednesday ...
Manchester United slashes outlook after Champions League exit
Proactive Investors· 2024-01-17 14:28
Group 1 - Manchester United Plc has reduced its earnings guidance due to its exit from the UEFA Champions League and a decrease in broadcasting revenue [1] - The club now expects revenue to be between £635 million and £665 million for the year ending June 30, down from previous expectations of £650 million to £680 million [1] - Adjusted EBITDA guidance has also been lowered from a range of £140 million to £165 million to a range of £125 million to £150 million [1] Group 2 - In the quarter ending September, Manchester United reported a 9.3% increase in revenue to £157.1 million compared to the previous year, but a 1.3% decline in adjusted EBITDA to £23.3 million [1] - Commercial revenue for the quarter rose by 3.4% to £90.4 million year-over-year [1] - The club's ownership situation has been under scrutiny, with UK billionaire Jim Ratcliffe acquiring a 25% stake after a prolonged sale process [2]
Manchester United PLC Reports First Quarter Fiscal 2024 Results
Businesswire· 2024-01-17 11:00
MANCHESTER, England--(BUSINESS WIRE)--Manchester United (NYSE: MANU; the “Company” and the “Group”) – one of the most popular and successful sports teams in the world - today announced financial results for the 2024 fiscal first quarter ended 30 September 2023. Outlook For fiscal 2024, the Company is forecasting revenue guidance to be within a range of £635 million to £665 million from prior guidance of £650 million to £680 million and adjusted EBITDA guidance to be within a range of £125 million to £150 ...
Manchester United(MANU) - 2023 Q4 - Annual Report
2023-10-26 16:00
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 20-F (Mark One) ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended 30 June 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☐ SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Co ...
Manchester United(MANU) - 2024 Q1 - Quarterly Report
2023-10-25 16:00
[Corporate Release and Overview](index=1&type=section&id=Manchester%20United%20PLC%20Reports%20Fourth%20Quarter%20and%20Full%20Year%20Fiscal%202023%20Results) [Key Highlights & Outlook](index=1&type=section&id=Key%20Points) The company achieved record revenues in fiscal 2023, driven by strong Commercial and Matchday performance, and projects record revenues of £650-£680 million for fiscal 2024, reflecting strong on-pitch progress and commercial momentum Fiscal 2024 Guidance | Metric | Guidance Range (in millions) | | :--- | :--- | | Revenue | £650 - £680 | | Adjusted EBITDA | £140 - £165 | - Achieved **record revenues** for fiscal 2023, driven by Commercial and Matchday revenue[2](index=2&type=chunk) - Announced an **industry-leading kit deal with adidas** through 2035 and a new front-of-shirt sponsorship with Qualcomm's Snapdragon brand[2](index=2&type=chunk) - Both men's and women's first teams achieved **significant on-pitch progress**, including Champions League qualification for both[2](index=2&type=chunk) [Key Financials Summary](index=2&type=section&id=Key%20Financials%20(unaudited)) For the full fiscal year 2023, total revenue grew 11.2% to a record £648.4 million, Adjusted EBITDA increased significantly by 91.0% to £154.9 million, and the net loss narrowed by 75.2% to £28.7 million Fiscal Year 2023 vs 2022 Financial Performance (£ million) | Metric | FY 2023 | FY 2022 | Change | | :--- | :--- | :--- | :--- | | Total Revenue | 648.4 | 583.2 | 11.2% | | Adjusted EBITDA | 154.9 | 81.1 | 91.0% | | Net Loss | (28.7) | (115.5) | 75.2% | | Adjusted Net Loss | (42.1) | (34.0) | (23.8)% | Fourth Quarter 2023 vs 2022 Financial Performance (£ million) | Metric | Q4 2023 | Q4 2022 | Change | | :--- | :--- | :--- | :--- | | Total Revenue | 167.3 | 118.5 | 41.2% | | Adjusted EBITDA | 43.2 | (8.4) | 614.3% | | Net Loss | (2.9) | (70.7) | 95.9% | - Non-current borrowings remained constant at **$650.0 million**, with an outstanding revolving credit facility balance of **£100.0 million** as of 30 June 2023[5](index=5&type=chunk)[6](index=6&type=chunk) [Operational and Business Highlights](index=3&type=section&id=Operational%20and%20Business%20Highlights) [Football & Fan Engagement](index=3&type=section&id=Football) The club actively strengthened both the men's and women's squads with new signings and key contract extensions, while expanding fan engagement initiatives globally - The men's squad was strengthened with additions like Mason Mount, Andre Onana, and Rasmus Hojlund, while Marcus Rashford and Diogo Dalot signed new long-term contracts[7](index=7&type=chunk) - The women's squad was significantly reinforced with multiple new signings, including Geyse Da Silva Ferreira and Hinata Miyazawa[7](index=7&type=chunk) - The club delivered a **successful summer tour** with nearly 400,000 supporters in attendance across 8 cities and 5 countries[7](index=7&type=chunk) - The number of official Manchester United Supporters' Clubs reached a **record 289 in 96 countries**[7](index=7&type=chunk) [Facilities - Venue & Operations](index=3&type=section&id=Facilities%20-%20Venue%20%26%20Operations) Fiscal 2023 set new records for match attendance and match-by-match hospitality revenues, with the club continuing to invest in infrastructure upgrades at Old Trafford and Carrington - Achieved **record match attendance and match-by-match hospitality revenues** in fiscal year 2023[8](index=8&type=chunk) - Sold a **record 2.4 million tickets** for the 2022/23 season, with 2023/24 season tickets selling out in record time and over 150,000 supporters on the waiting list[8](index=8&type=chunk) - Ongoing infrastructure upgrades include a new facility for the Women's and Academy teams at Carrington and enhancements at Old Trafford, such as additional rail seats and improved WIFI[8](index=8&type=chunk) [Partnerships](index=3&type=section&id=Partnerships) The club secured major long-term commercial partnerships, highlighted by a global record kit deal extension with adidas and a new strategic front-of-shirt sponsorship with Qualcomm's Snapdragon brand - Announced a **global record kit deal**, extending the partnership with adidas as kit supplier through 2035[9](index=9&type=chunk) - Announced a strategic partnership expansion with Qualcomm's Snapdragon brand to become the **front-of-shirt sponsor** starting with the 2024/25 season[9](index=9&type=chunk) [Digital Products & Experiences](index=4&type=section&id=Digital%20Products%20%26%20Experiences) The club demonstrated strong digital growth, achieving a 21% increase in e-commerce sales and a record 360,000 paid global memberships, believed to be the largest in world sport - E-commerce sales for fiscal 2023 grew by **21%** when excluding the one-off impact from Ronaldo kit sales in the prior year[10](index=10&type=chunk) - Achieved **record sales of global memberships**, reaching 360,000 members for the 2022/23 program, believed to be the largest paid membership program in world sport[10](index=10&type=chunk) - Generated over **318 million digital interactions** and **1.5 billion video views** across global social platforms in the fourth quarter[10](index=10&type=chunk) [Financial Performance Analysis](index=4&type=section&id=Revenue%20Analysis) [Revenue Analysis](index=4&type=section&id=Revenue%20Analysis) Total revenue for fiscal 2023 increased by 11.2% to £648.4 million, driven by a 17.5% rise in Commercial revenue and a 23.4% increase in Matchday revenue, partially offset by a 2.7% decline in Broadcasting revenue [Commercial Revenue](index=4&type=section&id=Commercial%20Revenue) Commercial revenue for the full year increased by 17.5% to £302.9 million, primarily due to a significant 28.1% growth in sponsorship revenue reflecting new agreements and the men's first team's 2022 pre-season tour Full Year Commercial Revenue Breakdown (£ million) | Category | FY 2023 | FY 2022 | Change | | :--- | :--- | :--- | :--- | | Sponsorship | 189.5 | 147.9 | 28.1% | | Retail, Merchandising, etc. | 113.4 | 109.9 | 3.2% | | **Total Commercial** | **302.9** | **257.8** | **17.5%** | [Broadcasting Revenue](index=4&type=section&id=Broadcasting%20Revenue) Broadcasting revenue for the full year decreased by 2.7% to £209.1 million, primarily due to the men's first team's participation in the UEFA Europa League instead of the more lucrative UEFA Champions League - The decrease in annual broadcasting revenue was primarily due to the men's first team participating in the UEFA Europa League compared to the UEFA Champions League in the prior year[13](index=13&type=chunk) - Quarterly broadcasting revenue increased **91.4%** year-over-year, mainly due to playing seven more games and finishing 3rd in the Premier League compared to 6th in the prior year[13](index=13&type=chunk) [Matchday Revenue](index=4&type=section&id=Matchday%20Revenue) Matchday revenue for the full year saw strong growth, increasing by 23.4% to £136.4 million, driven by playing seven more home games across all competitions coupled with high demand for match-by-match hospitality - The **23.4% increase** in annual matchday revenue was due to playing 7 more home games across all competitions and strong demand for hospitality[14](index=14&type=chunk) [Other Financial Information](index=5&type=section&id=Other%20Financial%20Information) Total operating expenses for the year decreased by 1.7%, mainly due to a 13.7% reduction in employee benefit expenses, while net finance costs fell by 65.6% due to favorable foreign exchange movements, and the overall cash position decreased by £45.2 million reflecting investment in the playing squad [Operating Expenses](index=5&type=section&id=Operating%20Expenses) Employee benefit expenses for the year decreased by 13.7% to £331.4 million due to squad turnover and non-participation in the Champions League, while other operating expenses rose by 38.4% to £163.2 million mainly from pre-season tour and increased matchday costs Operating Expenses Breakdown (FY 2023 vs FY 2022) | Expense Category | FY 2023 (£m) | FY 2022 (£m) | Change | Reason for Change | | :--- | :--- | :--- | :--- | :--- | | Employee benefit expenses | 331.4 | 384.2 | -13.7% | Squad turnover and no Champions League participation | | Other operating expenses | 163.2 | 117.9 | +38.4% | Pre-season tour and increased matchday costs | [Depreciation, Amortization, and Finance Costs](index=5&type=section&id=Depreciation%2C%20impairment%20and%20amortization) Amortization of player registrations increased by 14.0% to £172.7 million due to continued investment in the first team squad, while net finance costs decreased significantly by 65.6% to £21.4 million due to favorable foreign exchange gains - Amortization for the year was **£172.7 million**, an increase of **14.0%**, due to investment in the first team playing squad[17](index=17&type=chunk) - Net finance costs decreased by **65.6%** to **£21.4 million**, mainly due to favorable unrealized foreign exchange gains on unhedged USD borrowings[17](index=17&type=chunk) [Cash Flows & Balance Sheet](index=5&type=section&id=Cash%20flows) Cash and cash equivalents decreased by £45.2 million during the year, ending at £76.0 million, primarily driven by a net cash outflow from investing activities of £140.2 million for player registrations - Overall cash and cash equivalents decreased by **£45.2 million** in the year, compared to an increase of £10.6 million in the prior year[18](index=18&type=chunk) - Net capital expenditure on intangible assets (player registrations) was **£124.6 million**, an increase of £39.5 million over the prior year[19](index=19&type=chunk) - As of 30 June 2023, cash and cash equivalents were **£76.0 million**, down from £121.2 million, primarily due to investment in the first team playing squad[20](index=20&type=chunk) [Consolidated Financial Statements (Unaudited)](index=10&type=section&id=CONSOLIDATED%20FINANCIAL%20STATEMENTS%20(Unaudited)) [Consolidated Statement of Profit or Loss](index=10&type=section&id=CONSOLIDATED%20STATEMENT%20OF%20PROFIT%20OR%20LOSS) For the twelve months ended June 30, 2023, the company reported total revenues of £648.4 million and a net loss of £28.7 million, a significant improvement from the prior year's net loss of £115.5 million due to higher revenue and substantially lower net finance costs Consolidated Statement of Profit or Loss Summary (in £ thousands) | Line Item | Twelve months ended 30 June 2023 | Twelve months ended 30 June 2022 | | :--- | :--- | :--- | | Revenue | 648,401 | 583,201 | | Operating loss | (11,180) | (87,384) | | Net finance costs | (21,394) | (62,239) | | Loss before tax | (32,574) | (149,623) | | **Loss for the period** | **(28,678)** | **(115,510)** | [Consolidated Balance Sheet](index=11&type=section&id=CONSOLIDATED%20BALANCE%20SHEET) As of June 30, 2023, total assets stood at £1.318 billion, a slight increase from £1.294 billion in the prior year, with intangible assets being the largest component, while total equity decreased to £104.0 million and non-current borrowings decreased in GBP terms due to currency fluctuations Consolidated Balance Sheet Summary (in £ thousands) | Category | As of 30 June 2023 | As of 30 June 2022 | | :--- | :--- | :--- | | **Total Assets** | **1,317,944** | **1,293,665** | | *Non-current assets* | 1,124,212 | 1,056,503 | | *Current assets* | 193,732 | 237,162 | | **Total Equity and Liabilities** | **1,317,944** | **1,293,665** | | *Total Equity* | 103,950 | 127,508 | | *Total Liabilities* | 1,213,994 | 1,166,157 | [Consolidated Statement of Cash Flows](index=13&type=section&id=CONSOLIDATED%20STATEMENT%20OF%20CASH%20FLOWS) For the fiscal year, net cash inflow from operating activities was stable at £95.8 million, but a significant net cash outflow of £140.2 million from investing activities, primarily for player acquisitions, resulted in an overall net decrease in cash and cash equivalents of £45.2 million Consolidated Statement of Cash Flows Summary (in £ thousands) | Cash Flow Activity | Twelve months ended 30 June 2023 | Twelve months ended 30 June 2022 | | :--- | :--- | :--- | | Net cash inflow from operating activities | 95,769 | 96,371 | | Net cash outflow from investing activities | (140,160) | (93,431) | | Net cash (outflow)/inflow from financing activities | (1,952) | 5,040 | | **Net (decrease)/increase in cash** | **(45,204)** | **10,565** | | **Cash and cash equivalents at end of period** | **76,019** | **121,223** | [Supplemental Information](index=8&type=section&id=SUPPLEMENTAL%20NOTES) [Non-IFRS Measures and Reconciliations](index=8&type=section&id=Non-IFRS%20Measures%3A%20Definitions%20and%20Use) The company utilizes non-IFRS measures like Adjusted EBITDA and Adjusted Net Loss to offer a clearer perspective on underlying operational performance by excluding specific items, with Adjusted EBITDA for fiscal 2023 reaching £154.9 million, a 91.0% increase - Adjusted EBITDA is defined as loss for the period before depreciation, amortization, profit on disposal of intangible assets, net finance costs, exceptional items, and tax, used as a measure of comparative operating performance[24](index=24&type=chunk)[25](index=25&type=chunk) Reconciliation of Loss for the period to Adjusted EBITDA (in £ thousands) | Description | Twelve months ended 30 June 2023 | Twelve months ended 30 June 2022 | | :--- | :--- | :--- | | Loss for the period | (28,678) | (115,510) | | Adjustments (Tax, Finance, Amortization, etc.) | 183,606 | 196,659 | | **Adjusted EBITDA** | **154,928** | **81,149** | Reconciliation of Loss for the period to Adjusted Loss (in £ thousands) | Description | Twelve months ended 30 June 2023 | Twelve months ended 30 June 2022 | | :--- | :--- | :--- | | Loss for the period | (28,678) | (115,510) | | Adjustments (Exceptional items, FX, Tax, etc.) | (13,465) | 81,549 | | **Adjusted loss for the period** | **(42,143)** | **(33,961)** |
Manchester United(MANU) - 2023 Q4 - Annual Report
2023-06-26 16:00
Exhibit 99.1 CORPORATE RELEASE 27 June 2023 Manchester United PLC Reports Third Quarter Fiscal 2023 Results Key Points · For fiscal 2023, the Company raises its previous revenue guidance to a record £630 million to £640 million and raises its adjusted EBITDA guidance to £140 million to £150 million · The men’s first team ended the 2022/23 domestic season in 3 place and secured a return to the UEFA Champions League for the 2023/24 season · Signed new men’s contracts with Luke Shaw, Alejandro Garnacho and Dio ...
Manchester United(MANU) - 2023 Q3 - Quarterly Report
2023-03-29 16:00
Exhibit 99.1 CORPORATE RELEASE 30 March 2023 Manchester United PLC Reports Second Quarter Fiscal 2023 Results Key Points · The men’s first team won the Carabao Cup on 26 February at Wembley for the 6time; the team also advances to the FA Cup Semi-finals · For the 2022/23 domestic and European seasons to date, the men’s first team is currently in third place in the Premier League and has advanced to the UEFA Europa League Quarter-finals · For the 2022/23 Women's Super League season, the women's team is curre ...