FINANCIAL YEAR 2015/16 REVENUE | Bourse Reflex
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FINANCIAL YEAR 2015/16 REVENUE

Mardi 26 Jul 2016 à 11:00

Revenue: €218.1 million (up 111% vs. previous year)

OL PARK: Significant increase in recurring revenue

Automatic qualification for the 2016/17 Champions League

Lyon, 25 July 2016

Revenue for the 2015/16 FINANCIAL year reached its highest level ever since OL Groupe's creation, totalling €218.1 million, increasing €114.6 million, or 111%, from €103.5 million in 2014/15. All revenue categories contributed to this sharp increase, with significant improvements in ticketing (up €16.6 million), media and marketing rights (up €37.4 million) and revenue from the sale of player registrations (up €50.9 million). Revenue excluding player trading totalled €160.0 million – another record high – up €63.7 million, or 66%, from the previous financial year.

1/ Sharp increase in total revenue, up 111%

In € m (1 July to 30 June) 2015/16* 2014/15 Chg. in €m % chg.
Ticketing 27.7 11.1 +16.6 +150%
of which French Ligue 1 24.4 10.6 +13.8  
of which European play 2.8 0.2 +2.6  
of which other matches 0.5 0.3 +0.2  
Sponsoring - Advertising 26.9 22.4 +4.5 +20%
Media and marketing rights 83.1 45.7 +37.4 +82%
of which LFP-FFF 43.6 43.7 -0.1  
of which UEFA 39.5 2.0 +37.5  
Brand-related revenue 22.3 17.1 +5.2 +30%
from derivative products 9.0 10.0 -1.0  
from Events 5.7 0.0 +5.7  
from image/video, travel and misc. 7.6 7.1 +0.5  
Revenue excluding player trading 160.0 96.3 +63.7 +66%
Revenue from sale of player registrations 58.1 7.2 +50.9 +707%
Total revenue 218.1 103.5 +114.6 +111%

*figures are preliminary, estimated and unaudited

The table below, which compares revenue in the second half of 2014/15 and the second half of 2015/16, illustrates the Group's performance following the opening of the new stadium on 9 January 2016.

In € m (H2) Second-half 2015/16* Second-half 2014/15 Chg. in €m % Change
Ticketing 20.1 6.1 +14.0 +230%
Sponsoring - Advertising* 15.8 9.9 +5.9 +60%
Media and marketing rights 28.5 22.8 +5.7 +25%
Brand-related revenue 13.9 8.9 +5.0 +56%
Revenue excluding player trading 78.3 47.7 +30.6 +64%
Revenue from sale of player registrations 32.0 3.3 +28.7  +870%
Total revenue 110.3 51.0 +59.3 +116%

*figures are preliminary, estimated and unaudited


The main highlights of the 2015/16 financial year were the club's participation in the Champions League and the inauguration of OL Park on 9 January 2016. Like other large European clubs, Olympique Lyonnais now has a fully privatised, multi-functional, ultra-modern, modular, connected, 59,186 seat stadium (40,450 seats at Gerland) open 365 days a year. The new stadium will form the basis for the Group's fresh growth momentum.

The OL men's professional TEAM turned in an excellent on-pitch performance during the 2015/16 season, finishing in second place in the French Ligue 1 for the second season in a row and thus earning a direct qualification for the group stage of the 2016/17 Champions League.

The women's professional team kept up their exemplary performance with a triple championship win: they won the Champions League, ranked 1st place in French Division 1 (their 10th consecutive title) and won the Coupe de France (5th consecutive title), confirming their leadership in France and Europe.

Sharp increase in ticketing revenue relating to the club's participation in the Champions League and the inauguration of OL Park in the second half
(2015/16: €27.7 million, up 150% vs. 2014/15)

Ticketing revenue from French Ligue 1 and other matches totalled €24.9 million in 2015/16, up €14.0 million or 128% from €10.9 million in 2014/15 and directly benefiting from record attendance numbers since the opening of OL Park on 9 January 2016. Aggregate attendance for the first ten Ligue 1 matches played in OL Park (January to May) totalled 480,174 spectators compared with 366,065 spectators at equivalent matches played in the Gerland stadium, reflecting an increase of 31%, with record attendances at the matches against Troyes (55,168 spectators), OM (56,105 spectators), PSG (56,662 spectators), Nice (55,749 spectators) and Monaco (56,696 spectators). Since the new stadium opened, the average attendance at Ligue 1 matches has been 48,017 spectators.

Average revenue per spectator for Ligue 1 matches rose from €16 in 2014/15 to €32 in 2015/16. This resulted from the combination of two factors: the new, broad range of prices at OL Park, which gave rise to a favourable price effect, and the substantial increase in stadium capacity, in particular VIP seats, which MADE the volume effect favourable, too.

During the first half-season played at OL Park, the average matchday revenue in the French Ligue 1, including general public and VIP ticketing revenue (which includes services) as well as merchandising revenue on matchdays, doubled to approximately €2.2 million, vs. €1.1 million for equivalent matches played at the Gerland stadium, generating an average gross margin of around 54%.

Moreover, ticketing from European cup play totalled €2.8 million in 2015/16, reflecting the club's participation in the Champions League group stage, vs. €0.2 million in the year-earlier period (during which the team was eliminated during the Europa League qualifying round).

Revenue from sponsoring and advertising up 34%, excluding signing fees
(2015/16: €26.9 million, up 20% vs. 2014/15)

Revenue from sponsoring and advertising was up sharply at €26.9 million, vs. €22.4 million in the previous year, a rise of €4.5 million or 20%, primarily relating to the new contractual terms with sports marketing company Lagardère Sports entering into force upon the opening of OL Park. Until 31 December 2015, revenue from sponsoring and advertising was recognised net of fees paid to Lagardère Sports. From 1 January 2016, fees have been recognised as external expenses.

Sponsoring revenue included €1.0 million in signing fees in 2015/16, vs. €3.0 million in the year-earlier period (new stadium catering). Excluding signing fees, revenue from sponsoring and advertising increased by 34%.

Media and marketing rights up sharply, reflecting Champions League participation
(2015/16: €83.1 million, up 82% vs. 2014/15)

Domestic media rights (LFP, FFF) totalled €43.6 million, almost exactly the same as in the previous season, with the club ranking 2nd place in French Ligue 1 (identical to 2014/15).

Internationally (UEFA), media and marketing rights rose €37.5 million from the year-earlier period to €39.5 million, owing to the club's participation in the group stage of the Champions League this season. This source of revenue will be renewed in the upcoming financial year since Olympique Lyonnais has automatically qualified to play in the 2016/17 Champions League.

Significant rise in constant-scope, brand-related revenue (60%)
(2015/16: €22.3 million, up 30% vs. 2014/15)

Brand-related revenue increased significantly owing to new recurring sources of revenue (in particular event-related sources) generated since the inauguration of the OL Park. Brand-related revenue totalled €22.3 million, increasing 30% from €17.1 million in 2014/15. Constant-scope revenue, excluding M2A, a subsidiary which exited the scope of consolidation on 30 June 2015, increased by 60%. The new products marketed in OL Park generated €5.7 million over this first half-season. Over 100 conferences, B2B seminars and corporate events have been organised at OL Park since it opened, and more than 17,000 people have attended these B2B events. Several major events have also been held at OL Park, including the two European Rugby Cup finals on 13 and 14 May, six Euro 2016 football matches between 13 June and 6 July, five of which were recognised in the books for the 2015/16 season. Merchandising revenue (excl. M2A) also advanced sharply (up 31%), largely because the new OL Store opened at OL Park.

Revenue from player trading demonstrates OL Academy's strong value-added
(2015/16: €58.1m, up €50.9m)

Revenue from the sale of player registrations also increased significantly, totalling €58.1 million, vs. €7.2 million in 2014/15. It included the transfers of Benzia, Njie, Yattara, Zeffane, Beauvue, Koné and Umtiti for a total of €47.1 million, plus incentives totalling €11.0 million, of which €8.7 million came from the earn-out clause on Anthony Martial's transfer. The majority of revenues came from the sale of players trained at the OL Academy (€51.0m, i.e. 88% of the total) thus confirming the significant value-added of OL Academy.

Projected earnings for financial year 2015/16

Alongside the increase in revenues, the Group also recognised new expenses directly relating to the fully privatised infrastructure entering into operation, as well as a significant increase in match organisation costs owing to an increase in stadium capacity.

Nevertheless, the very favourable level of 2015/16 revenue should generate a significant improvement in earnings compared with the previous financial year; 2015/16 consolidated net profit is expected to be positive.

2/ Football performance in 2015/16

  • Men's team:
    • French Ligue 1: 2nd place
    • UEFA Champions League: group stage
    • Coupe de la Ligue: quarter-final
    • Coupe de France: round of 16
  • Women's team: Second historic triple crown (first in 2011/12)
    • UEFA Champions League: victory
    • French Ligue 1: 1st place
    • Coupe de France: victory (5th consecutive title)

3/ Summer 2016 transfer window

Summer trading began with the sale of international defender Samuel Umtiti to FC Barcelona (€25 million), Bakary Koné to Malaga (€0.8 million + up to €1.2 million in incentives) and Lindsay Rose to FC Lorient (€1.5 million + up to €0.3 million in incentives).

Olympique Lyonnais recruited three internationals: Maciej Rybus (free agent; Poland), Nicolas Nkoulou (free agent; Cameroon) and Emanuel Mammana (Argentina) from River Plate (€7.5 million + up to €1.5 million in incentives).

4/ Outlook

The “Groupama OL Training Center”, the new men's team professional training facilities benefiting from Groupama naming rights and located in the OL Park in Décines, was opened in early July. The women's team training facilities will be ready in mid-September 2016. The “Groupama OL Academy”, a new mixed-sex training academy, also named by Groupama and based in Meyzieu in close proximity to the Olympique Lyonnais Park, is expected to be finished by the end of July. Completion of these sites, representing an overall investment of around €28 million, should enable the club to unlock the value of the facilities on the Tola Vologe site during the 2016/17 season.

OL Academy plays an increasingly pivotal role in OL Groupe's football strategy, providing a steady supply of players to the professional team. It was once again recognised for its excellence, topping the ranking of French training academies in 2015/16, for the fourth consecutive season (ranking by the Federation's National Technical Director and validated by the French Football Collective Bargaining Agreement's Bi-lateral Commission).

Thanks to the versatility of OL Park, a Rihanna concert was held there on 19 July and the Magnus league ice hockey match will be played in December 2016. Furthermore, a number of seminars, conferences and stadium visits have been scheduled and the marketing of subscriptions and hospitality services for the 2016/17 is continuing to be a success. The construction of related facilities (including the hotels and leisure centre) is expected to begin in autumn 2016.

In 2016/17, OL Groupe will benefit from revenues relating to its participation in the group stage of the Champions League, a sharp rise in ticketing revenue relating to OL Park's operation over a full financial year, and the significant increase in average attendance numbers since the opening of the new stadium. Revenues will also be boosted by new sources of recurring revenue from events and B2B seminars.

The Group confirms its objective to generate additional full-year revenue of €70 million p.a. within three to five years, compared with 2014/15, the last full year played in Gerland.

“This document contains indications about OL Groupe's goals. Known and unknown risks, uncertainties and other factors may affect the achievement of these goals, and consequently, OL Groupe's future results, performance and achievements may differ significantly from implied or stated goals. These factors could include changes to the economic and business environment, regulations, and risk factors detailed in OL Groupe's 2014/15 Registration Document.”

OL Groupe

Tel: +33 (0)4 81 07 55 00
Fax: +33 (0)4 26 29 67 18

Email: dirfin@olympiquelyonnais.com
www.olweb.fr
    Euronext Paris - Segment C

Indices:  CAC Small - CAC Mid & Small - CAC All–Tradable - CAC All-Share – CAC Consumer Services – CAC Travel & Leisure
isin code: FR0010428771
Reuters: OLG.PA
Bloomberg: OLG FP
ICB: 5755 Recreational services
OL GROUPE


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