Rangers Annual Results

[Little General 80]

http://rangers.co.uk/news/headlines/rangers-international-football-club-annual-results-2/ Edited October 28, 2016 by Rousseau

[Little General 80]

Key Figures:

 

Turnover £22.2m (2015 – £16.3m)

Earnings before Interest Tax and Depreciation (EBITDA) (£0.1m) (2015 – (£6.9m))

Loss for the year £3.3m (2015 – £7.7m)

Operating expenses £24.9m (2015 – £26.8m)

Average SPFL Home Attendances 44,359 (2015 – 34,556)

Season Ticket 37,481 (2015 – 26,515)

[Rousseau 9,370]

Looks like an improvement on the surface, but I'll let the financial experts enlighten me further.

Edited October 28, 2016 by Rousseau

[pete 2,499]

Still bleeding 3.3 million that can't be good but I suppose we knew we would be for the first few years.

[craig 5,195]

Key Figures:

 

Turnover £22.2m (2015 – £16.3m)

Earnings before Interest Tax and Depreciation (EBITDA) (£0.1m) (2015 – (£6.9m))

Loss for the year £3.3m (2015 – £7.7m)

Operating expenses £24.9m (2015 – £26.8m)

Average SPFL Home Attendances 44,359 (2015 – 34,556)

Season Ticket 37,481 (2015 – 26,515)

 

Just looking at the above numbers in isolation a couple of things spring to mind.

 

1. The loss has reduced by more than 50%, that is a good sign and edging closer to breakeven even without European football

2. The operating expenses came down by 2 million - another good sign of better expense management (although... it could also be contended this was natural given the profligacy of the previous encumbents)

3. The EBITDA number is actually very good IMHO. Almost breakeven before Corporate taxes and depreciation is good for where we are.

5. Looking at the attendance figures you would naturally conclude (though admittedly this could be contested) that the fans appreciated the football on display in MW's 1st year - or it could be that they just didn't like tuning in to Ally's team.

6. Season tickets at 37.5k for the Championship is an amazing number, and those numbers will only increase this season - which hopefully will get us even closer to breakeven.

7. The turnover has increased by 50% - that is an amazing increase - though I suspect that some of it will be due to our re-entry to the top flight. This too should increase after our first full season back.

8. I think that the financial management of the company looks much, much healthier - even though we have a loss of 3.3 million I think that the revenue has a fair amount of room for improvement whilst the expenses will hopefully remain close to where they are - that obviously depends on the type of players and wages that we are having to pay for playing personnel. Eg, we know that Barton & Kranjcar increased the wages fairly considerably - but over the piece, with a dozen leaving and a dozen coming, did we end up with a similar wage expense ? Maybe.

 

From reading that, although a loss is never good (unless you want a loss for tax reasons) the above makes for pretty healthy reading in my mind.

[Little General 80]

There's more litigation at the High court of Justice on 1/2 December re Rangers Retail. (note 31 of report)

[craig 5,195]

I was trying to take a read through the full annual report but that little thing called work has managed to get in the way..... I will try to take a look over the course of the weekend though and see if I can come up with some analysis for the forum.