OL GROUPE : FINANCIAL YEAR 2012/13 REVENUE

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Financial year 2012/13 revenue

17th title since 2000 with the 2012 Trophée des Champions in New York
14th top-3 finish since 1998 (15 seasons)
and participation in 2013/14 UEFA Champions League 3rd preliminary round

4th quarter 2012/13 revenue: ¤36 million, up 15.8% from 2011/12

Full year revenue: ¤137.3 million

Lyon, 24 July 2013

Against an unfavourable economic background and a very difficult situation for French football, total revenue stood at ¤137.3 million, down 6.7%, even though the club did not participate in the Champions League this season. The unfavourable impact of this is estimated at ¤20 million. During the year, the Group continued to implement the strategy set out by the Board of Directors. The objective is to return to operating breakeven for the 2013/14 season, right in line with Financial Fair Play.

  1. Breakdown of revenue over the year (from 1 July to 30 June)

Quarterly breakdown

Revenue in the 4th quarter of the year grew 15.8% to ¤36.0 million (¤31.1 million in Q4 2011/12).

in ¤ m 2012/13* 2011/12 Change % Change
1st quarter 44.3 48.4 -4.1 -8.5%
2nd quarter 32.2 37.3 -5.1 -13.7%
3nd quarter 24.8 30.3 -5.5 -18.2%
4nd quarter 36.0 31.1 +4.9 +15.8%
Total revenue 137.3 147.1 -9.8 -6.7%

*figures are estimated and unaudited

Breakdown by business segment

From 1 July to 30 June (in ¤ m) 2012/13* 2011/12 Change % Change
Ticketing 12.3 17.7 -5.4 -30.5%
Sponsoring - Advertising 20.5 23.5 -3.0 -12.7%
Media and marketing rights 51.2 71.6 -20.4 -28.5%
Brand-related revenue 17.1 19.1 -2.1 -10.8%
Revenue from sale of player registrations 36.2 15.2 21.0 138.7%
Total revenue 137.3 147.1 -9.8 -6.7%

*figures are estimated and unaudited

  • Ticketing revenue totalled ¤12.3 million, down ¤5.4 million, vs. ¤17.7 million in 2011/12. This decline came about essentially because the club did not qualify for the Champions League (¤-3 million) and performed less well in cup competition (¤-1 million). The average number of spectators per match was 32,086 during the 2012/13 season, putting OL in fourth position, behind the clubs that have bigger, more modern stadiums than Gerland.
  • Sponsoring revenue remained high at ¤20.5 million, vs. ¤23.5 million in the previous year. Excluding exceptional signing fees, it declined by only ¤0.5 million over the full year (¤18.5 million vs. ¤19.0 million in the previous year).
  • Media and marketing rights came to ¤51.2 million, vs. ¤71.6 million last year, principally because the club did not participate in the Champions League.

Domestic media rights stood at ¤44.2 million, vs. ¤48.3 million in 2011/12. This decline came about essentially because the club performed less well in French cup play. In the previous year, OL had won the Coupe de France and was a finalist in the Coupe de la Ligue.

UEFA media and marketing rights were ¤7.0 million (Europa League), vs. ¤23.4 million in the 2011/12 season (Champions League).

  • Brand-related revenue suffered from the absence of prestigious European matches as well as the difficult economic conditions and totalled ¤17.1 million, vs. ¤19.1 million in 2011/12.
  • The Group continued to pursue its strategy to reduce the payroll and amortisation of player registrations and to capitalise on the potential of young players coming out of the OL Academy. Revenue from the sale of player registrations in financial year 2012/13 totalled ¤36.2 million, an increase of ¤21.0 million or 139% over the ¤15.2 million received in the previous year. This increase significantly offset the decline in revenue due to the club's absence from the Champions League. Revenue from the sale of player registrations reflected principally the transfer of Cissokho, Kallström, Lloris, Pied, Réale, Lovren and Martial.
  1. Football performance 2012/13

Olympique Lyonnais won its 17th title in July 2012, the Trophée des Champions, played in New York. The club finished in the Ligue 1 top three for the 14th time in 15 seasons, placing 3rd and qualifying for the 3rd round of the preliminary phase of the UEFA Champions League. In the Europa League, the club reached the round of 32 against Tottenham and now occupies 12th place in the UEFA ranking, the highest of any French club.

The French Football Federation ranks the OL Academy 1st among French training academies. According to a December 2012 Sportingintelligence study, the OL Academy ranks 2nd in Europe behind Barcelona.

The women's team was unbeaten in Division 1 play and took home the 3rd double in the team's history, winning the French championship for the 7th consecutive time and the Coupe de France for the 2nd consecutive time. Finalists in the UEFA Women's Champions League against Wolfsburg (Germany), the OL women's team became the 1st team to play in four consecutive finals in that competition and now occupies 1st place in the UEFA rankings.

  1. New stadium

On 11 June 2013, the Lyon Administrative Appeal Court rejected the appeals to cancel the new stadium's "public interest" status, thereby confirming the decisions rendered by the Administrative Court on 5 July 2012, and on 12 July 2013 it rejected the appeal to cancel the stadium's construction permit.

On 19 July, the Rhône General Council approved the guarantee agreement and the guarantee for a part of the bond issue (¤40 million) that will be carried out by Foncière du Montout.

A press release was published on 1 July 2013 about the financing for the new stadium project, which will be borne by Foncière du Montout, a wholly-owned subsidiary of OL Groupe. The financing is to be structured as follows: an equity investment of ¤135 million by OL Groupe in its subsidiary, a bond issue of around ¤112 million, total financial debt in the region of ¤144.5 million and guaranteed revenue during the construction phase of around ¤13.5 million, for a total of around ¤405 million. OL aims to finalise the financing plan in the last days of July, so that construction can begin, with a goal of delivery during the 2015/16 season. The city of Lyon would then be able to host one of more matches during the Euro 2016 football competition, such as the opening match and one of the semi-finals.

A press release will be published as soon as the negotiations are finalised with the various participants in the financing plan.

  1. Interim 2013 summer trading window results

In line with the Group's economic and sporting strategy to capitalise on the young and talented players coming out of the OL Academy, Olympique Lyonnais has now sold player registrations worth ¤16.3 million since the start of the summer trading window (plus potential incentives of ¤2.3 million), while devoting only ¤1 million (incl. ¤0.2 million in incentives) to acquisitions, yielding a positive balance of ¤17.6 million. Departing players were Lovren, Martial and Monzon, and those acquired were Danic and Miguel Lopez on a free loan. This strategy is set to have a very positive impact on the payroll and on amortisation of player registrations during financial year 2013/14. The Group intends to pursue its payroll reduction strategy until the end of the summer trading window.

  1. Projected earnings for financial year 2012/13

Revenue declined because OL was absent from the Champions League in 2012/13, but the strategy in place for the past two years has reduced the payroll and amortisation of player registrations by ¤29 million, exceeding the objective of ¤20 million that the Group set at the start of the financial year.

Even though the club did not realise all of the transfers it would have liked to before 30 June 2013, OL Groupe currently expects to post a pre-tax loss of around ¤19 million, representing an improvement of nearly ¤18 million from 2011/12 (loss of ¤36.6 million), despite being absent from the Champions League, which had an impact on Group revenue of around ¤20 million. These figures are unaudited and exclude the impact of any trading-related post-closing events.

  1. Strategic priorities

During the 2013/14 season, the club will focus on the following three priorities:

  • Aggressive sporting objectives, including participation in the pool stage of the Champions League for the men's team and in the French championship and European cup competition for the women's team.
  • Return to operating breakeven and a sustainable business model, in line with the rules of Financial Fair Play that UEFA will implement beginning with the 2014/15 season.
  • Launch the construction of the new stadium as soon as all of the financing agreements are in place.

*All of the quantitative and qualitative data contained in this press release are estimated, unaudited and have not been formally approved by the Board of Directors. The Board of Directors is set to approve them at its meeting of 15 October 2013.


OL Groupe

Tel: +33 (0)4 26 29 67 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

 
 
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