Hibs Accounts for Last Season Post Loss of nearly £300 000

[Ronniekirk]

Some were predicting another small Profit but be interest to hear from those with Financial credentials once Full Report is available
Includes improved Advance Season Ticket Sales and Cummings Transfer fee



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[CropleyWasGod]

It won't include this season's ST sales.

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[Ronniekirk]

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It won't include this season's ST sales.

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Turnover rose to 7 . 7 Million which seems impressive to me


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[Golden Bear]

Where are these figures available to see?

[Steve-O]

Can’t really understand how we’ve made a loss?

[Ronniekirk]

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Where are these figures available to see?

Article in the feed Hibs news 24 /7 from article in Evening News Shareholders should get info through post


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[frazeHFC]

What were our losses the previous couple of seasons? With the huge crowds and profits from cup final merch I'd have assumed we'd have been well in profit last year..

[Ronniekirk]

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What were our losses the previous couple of seasons? With the huge crowds and profits from cup final merch I'd have assumed we'd have been well in profit last year..

We made a profit last year of around £200,000 i think it was but losses the two seasons before that i think


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[CropleyWasGod]

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What were our losses the previous couple of seasons? With the huge crowds and profits from cup final merch I'd have assumed we'd have been well in profit last year..

There was no parachute payment that season, unlike the previous 2. And only 1 cup run. No league games against Rangers.

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[scoopyboy]

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Some were predicting another small Profit but be interest to hear from those with Financial credentials once Full Report is available
Includes improved Advance Season Ticket Sales and Cummings Transfer fee



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Hibs changed financial year to 1st July to June 30th so not sure Cummings fee would be included.

Can't remember actual date.

[Ronniekirk]

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Hibs changed financial year to 1st July to June 30th so not sure Cummings fee would be included.

Can't remember actual date.

The Evening News Article states it does unless i am misreading it

Just checked again and its not clear Talks about Cummings leaving bring balanced by some familiar faces returning
We also had a cash balance at the end if May of 3 .5 Million Up a Million on last time


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[greenlex]

What we need is an anonymous benefactor.

[CropleyWasGod]

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The Evening News Article states it does unless i am misreading it

Just checked again and its not clear Talks about Cummings leaving bring balanced by some familiar faces returning
We also had a cash balance at the end if May of 3 .5 Million Up a Million on last time


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JC signed for NF on 17th June, so the money from his sale will be in these accounts. It won't be in turnover, and whether the loss figure quoted is before or after that remains to be seen. I'd rather wait for the actual accounts than rely on the EEN

The increased cash balance reflects the advanced ST sales, but, again, that won't be included in the turnover or loss figures.

[Iain G]

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What we need is an anonymous benefactor.

Ann who?

[Hibs4185]

Turnover of £7.7 million whilst playing in the championship is incredible mostly due to us the fans backing the club.

Hearts turnover was £11.3 million and I think Aberdeen were roughly the same. Playing in the SPL is worth £1.5-£2 million a year and if you add UEFA solidarity payments which the clubs received from Celtic's champions league appearances then we are not far off. I read Hearts accounts and they received over £2 million from UEFA.

If we hold on to third and qualify for Europe, add in possible fees for McGinn etc and we are in a very healthy position without the need of mystery benefactors.

An an amazing time to be a Hibby and all positive going forward GGTH

[One Day Soon]

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What we need is an anonymous benefactor.

We have a benefactor, he isn't anonymous and he's committed to both the club and the community. Which is why we aren't the Edinburgh team known as the Poppy Thieves.

[greenginger]

Comparing our small loss with the Yams slight gain is a bit misleading.

Our accounts would include a figure of around £ 600,000 for depreciation of our infrastructure. Across town there would be no such debit as there place depreciated a long time ago.

They also received a far greater league payment than us. Hopefully that position will be reversed this season.

[Peevemor]

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Turnover of £7.7 million whilst playing in the championship is incredible mostly due to us the fans backing the club.

Hearts turnover was £11.3 million and I think Aberdeen were roughly the same. Playing in the SPL is worth £1.5-£2 million a year and if you add UEFA solidarity payments which the clubs received from Celtic's champions league appearances then we are not far off. I read Hearts accounts and they received over £2 million from UEFA.

If we hold on to third and qualify for Europe, add in possible fees for McGinn etc and we are in a very healthy position without the need of mystery benefactors.

An an amazing time to be a Hibby and all positive going forward GGTH

There's also £1.5m from FOH toward working capital in their accounts (I'd imagine), though we have to wait and see if the share/HSL cash is included in ours.

[Caversham Green]

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There's also £1.5m from FOH toward working capital in their accounts (I'd imagine), though we have to wait and see if the share/HSL cash is included in ours.

The amounts from FOH and HSL don't affect the profit/loss figures. HoMFC's anonymous donation does, and without it they made a loss of £221k after player sales of £214k. If our loss is after the sale of JC it's actually a bit concerning depending on how much we got from that sale.

As an aside, Hearts continue to take money from their charity - nearly 22k this time.

[jacomo]

Thankfully we are now out of the Championship.

We can carry this loss as a one-off but couldn't continue like that. As said above though, revenue will be significantly higher this season, not least because so many of us are backing the team.

[Michael]

We had a small profit the previous year and I can't remember what it was the year before. Overall we've probably done okay for spending 3 years in the Championship.

[Mikey]

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If our loss is after the sale of JC it's actually a bit concerning depending on how much we got from that sale.

I wonder if the amount will be obvious in the accounts. The rumoured figure is around £500k.

Once they drop through the letterbox I'll see if I can scan them in and upload them.

[Hibs4185]

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There's also £1.5m from FOH toward working capital in their accounts (I'd imagine), though we have to wait and see if the share/HSL cash is included in ours.

FOH money isn't included in their turnover-dunno why. I took a screenshot just now but I amn't allowed to post attachments. I think they show the FOH as a sort of savings scheme without going straight into the club.

Gate receipts £4.296
sponsorship £826
Broadcasting rights £244
commercial £2.672
uefa £2.578
Other income £639

they obviously got pumped out of Europe early but still it's a hefty payment from UEFA.

Also shows how bad the SPFL's TV deal is. £244k a year. Clubs in England get that a week.

But it does show we should get money from UEFA next year regardless of if we qualify or not-I think we will though, the extra money from competing in SPFL and tv money although it isn't much. Last year the team finishing 6th got £1.3 million. Third is closer to £2 million and Europe. Third could bring in £4 million alone.

The headline figure of a small loss isn't that important though. There are hundreds of factors which could give you a profit or loss either way but the most important thing is that the turnover is healthy, cash at bank is very strong and there is scope for the turnover to increase massively.

I'd think £11-12 million next year without any transfer fees. Add on £3-5 million for McGinn and we are in a very enviable position with no external debt.

[Ozyhibby]

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We had a small profit the previous year and I can't remember what it was the year before. Overall we've probably done okay for spending 3 years in the Championship.

Wonder what the total cost of our three years in the championship was? Must be massive.


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[DarlingtonHibee]

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FOH money isn't included in their turnover-dunno why. I took a screenshot just now but I amn't allowed to post attachments. I think they show the FOH as a sort of savings scheme without going straight into the club.

Gate receipts £4.296
sponsorship £826
Broadcasting rights £244
commercial £2.672
uefa £2.578
Other income £639

they obviously got pumped out of Europe early but still it's a hefty payment from UEFA.

Also shows how bad the SPFL's TV deal is. £244k a year. Clubs in England get that a week.

But it does show we should get money from UEFA next year regardless of if we qualify or not-I think we will though, the extra money from competing in SPFL and tv money although it isn't much. Last year the team finishing 6th got £1.3 million. Third is closer to £2 million and Europe. Third could bring in £4 million alone.

The headline figure of a small loss isn't that important though. There are hundreds of factors which could give you a profit or loss either way but the most important thing is that the turnover is healthy, cash at bank is very strong and there is scope for the turnover to increase massively.

I'd think £11-12 million next year without any transfer fees. Add on £3-5 million for McGinn and we are in a very enviable position with no external debt.

TV deal is a joke, thanks Doncaster

[CropleyWasGod]

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I wonder if the amount will be obvious in the accounts. The rumoured figure is around £500k.

Once they drop through the letterbox I'll see if I can scan them in and upload them.

The bit to look at is "gain on intangible assets".

We write off the signing-fees over the length of the player's contract. So, the "gain" is the amount received less the signing-on fee.

Was JC the only player we sold that season? If so, we will be able to deduce the minimum amount we got for him.

[Caversham Green]

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I wonder if the amount will be obvious in the accounts. The rumoured figure is around £500k.

Once they drop through the letterbox I'll see if I can scan them in and upload them.

It should be unless we sold anyone else between 1 July 2016 and 30 June 2017. I assume the compo for Stubbs was in the 2016 accounts - they show a gain of £332k on 'player' sales and a £150k operating loss.

Hearts have actually made their accounts available on their website - credit to them for that.

[CropleyWasGod]

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It should be unless we sold anyone else between 1 July 2016 and 30 June 2017. I assume the compo for Stubbs was in the 2016 accounts - they show a gain of £332k on 'player' sales and a £150k operating loss.

Hearts have actually made their accounts available on their website - credit to them for that.

So have we now.

I'll race you

Edit... no we haven't, it's just Rod's covering letter.

This bit suggests the loss was after the JC sale??

Record attendances at Easter Road Stadium allied with another Scottish Cup semi-final tie and player trading at the end of the Season resulted in a loss for the financial year of £277k, some way short of our financial target which is to at least break even.

[Sioux]

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The amounts from FOH and HSL don't affect the profit/loss figures. HoMFC's anonymous donation does, and without it they made a loss of £221k after player sales of £214k. If our loss is after the sale of JC it's actually a bit concerning depending on how much we got from that sale.

As an aside, Hearts continue to take money from their charity - nearly 22k this time.

That's a bit of a coincidence is it not, when compared to their loan fee mentioned earlier.

[Caversham Green]

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So have we now.

I'll race you

Edit... no we haven't, it's just Rod's covering letter.

This bit suggests the loss was after the JC sale??

Record attendances at Easter Road Stadium allied with another Scottish Cup semi-final tie and player trading at the end of the Season resulted in a loss for the financial year of £277k, some way short of our financial target which is to at least break even.

Yep, I see the statement's on the website now, but the accounts aren't. I agree about the loss being after the sale of JC - I suppose when you consider the operating loss of £150k last year was after the cup win and League Cup final a large loss this time is probably not that surprising.

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That's a bit of a coincidence is it not, when compared to their loan fee mentioned earlier.

I don't think there's a connection but I do wonder how a self-proclaimed community club can justify charging its own charity £22k.