WestDr wrote: ↑Fri Jun 12, 2020 11:26 am
No doubt Audrey Harrison has more than a few of these types of I&E scenarios on her lap-top....
The 2018-19 are the actuals from the UR 2018-19 report pp35-37. This is where ScottishBrian got his figures.There is no I&E/P&L table in the report and all values are from the commentary with some estimates on stadum costs to get to the £12.0m total. Also these were all in a nice set of tables, but this site doesn't allow them.... income/revenue is generally to the left and expenditure/expenses to the right.
The 2019-20 & 20-21 are my guesses...... Take your own pick at what you'd like to change...
UR – 2018-19 (actuals: 14 months)
Revenue £m Expenditure £m
Gate 3.2 Players & Team 5.9
Sponsorship 2.9 Match-day costs 1.05
Grants (incl. from IRFU) 2.4 Stadium costs (incl. rates) 0.85
Other income – corporate 1.0 General rugby expenses 0.5
Other income – UR-generated 1.1 Admin expenses 1.8
Development expenses 1.9
Total 10.6 12.0
Surplus -1.4
Notes:
• For 12 months, then income was £10.1m and expenditure £10.5m (a deficit of £0.4m)
• Development expenses is the RDO’s etc
• Cash in bank as at 18/19 year end = £1.6m
• Source: UR Annual Report 2018-19
UR – 2019-20
Revenue £m Expenditure £m
Gate 3.0 Players & Team 3.9
Sponsorship 2.7 Match-day costs 0.7
Grants (incl. from IRFU) 1.8 Stadium costs (incl. rates) 0.7
Other income – corporate 0.8 General rugby expenses 0.3
Other income – UR generated 0.8 Admin expenses 1.4
Development expenses 1.6
Total 9.1 8.6
Surplus 0.6
Notes:
• Match-day income & costs are for 10 games and £100k repayment to match ticket holders/hospitality.
• Sponsorship and corporate – fewer matches (although depends on contracts).
• Player & Team - assumes full payment as per 2018-19 up to 31st Mar. Remainder FY1920 covered 100% by UK Govt via furlough for 5 months & IRFU grant (for central players).
• Stadium costs - assumed 0% rates (COVID-19 relief).
• Grants – DfC grants are tailing off (Nevin Spence staff now down from 3 to 1), and probably partially dependent on ground being open for school visits. Assume IRFU would pay back any money due to broadcasters. Includes any prize money payments via IRFU for EPRC QF and any money from 2x inter-pros in Dublin/further UR progress in Pro14 is included in FY19/20.
• Other income - UR generated = lower due to ground being closed from March.
• Admin expenses- assumes a £200k contribution from UK Govt via furlough for 3 months.
• No repayment to season-ticket holders
UR – 2020-21
Revenue £m Expenditure £m
Gate 1.8 Players & Team 3.4
Sponsorship 1.8 Match-day costs 0.8
Grants (incl. from IRFU) 2.0 Stadium costs (incl. rates) 0.6
Other income – corporate 0.7 General rugby expenses 0.4
Other income – UR generated 1.1 Admin expenses 1.3
Development expenses 1.3
Total 7.4 7.8
Surplus -0.4
Notes:
• Match-day income & costs assumes a Nov home start with 13 home games but with only 5k in ground (smaller crowd = less match day costs from EventSec etc - probably close at least one stand entirely).
• Player & Team - assumes full payment as per 2018-19 from 1st Dec onwards. Remainder covered 100% by contribution from UK Govt via furlough for 5 months & IRFU grant.
• Grants - very much reduced and probably partially dependent on ground being open for school visits. Also includes subsidy of approx. £1.5m from IRFU.
• Other income - UR generated = lower due to ground being closed from June to November.
• Sponsorship and Other income – corporate. Assumes fewer matches and general local recession.
• Admin costs – assume a £500k contribution from UK Govt via furlough for 5 months and some further reductions in staff/expenses.
• Stadium costs – no rates payable for 2020-21 (NI Direct website). Other costs also reduced.
• Development expenses – assume some reduction in RDO numbers and activity.
The monthly cash burn rate would seem to average at approx. £750k/month, which also corresponds to the costs of the 2 extra months in 18/19 (p35). Even with £1.6m in the bank at 1st July 2019, without external support (UK Govt furlough and whatever IRFU might provide), then UR would be due for some uncomfortable conversations with the bank manager round about now..... BUT we don't know whether UR is eligible/has taken up any of the COVID-19 business support schemes. With no debt then it might seem a viable option for UR to consider, which I'm sure they've done.... (Btw, the IRFU had €38m cash in the bank as at 30/04/19 - IRFU annual report p37) . Hope this helps..... Sue Dename or ScottishBrian - anything to add/amend ?