Everton has released its report and accounts for the 2021/22 season.
The accounts show the Club recorded a turnover of £181m and a reported statutory loss of £44.7m, representing a £76m (63 per cent) reduction on the loss of £121.3m for 2020/21, despite the impact of a significant fall in broadcast income.
Key points within the 2021/2022 report and accounts include:
- The generation of £67.7m of profit on player trading transactions, a five-fold increase of £54.5m from the prior year player trading profit of £13.2m
- Total commercial revenue from sponsorship, advertising and merchandising and other commercial activities growing by £3.8m to £50.4m.
- Broadcast revenue falling from £146.4m in 2020/21 to £115.1 in 2022. The previous year's broadcast numbers were inflated due to the COVID-impacted 2019/20 campaign being completed within its financial reporting period.
- Broadcast revenue was also impacted by the fall in the Club's Premier League finishing position (10th in 2020/21 to 16th in 2021/22) and by two fewer games being selected for live television broadcast.
- Gate receipts returning to more typical figures in 2021/22 with all games played in front of supporters, unlike the previous year due to COVID-19 restrictions.
- The impact of COVID-19 remaining significant, with the pandemic contributing to combined crystallised losses of more than £90m, with significant substantial uncrystallised losses also incurred.
- Operating expenses (pre-player & management trading and exceptional items) across the Club decreased by 5 per cent from £215.1m to £204.9m despite an increase in other operating costs to £36.2m from £25.4m. This is primarily due to significant costs incurred relating to implementing COVID-secure measures across Club sites along with the safe re-introduction of fans to the stadium.
The Club's net debt position increased to £141.7m as a result of investment in the playing squad and significant investment in the Everton Stadium project.
The breaking of ground at the Everton Stadium at the very start of the 2021/22 accounting period incurred significant capital costs - £207m - relating to the infilling of Bramley-Moore Dock, enabling works, and above-ground construction commencing on all four sides of the stadium.
Despite the substantial financial impact of several unexpected and unprecedented factors in recent seasons, the Club remains in a secure financial position thanks to the continued support and commitment of our Majority Shareholder. In the post year end period, the Majority Shareholder has provided a further £70m of financial support to the Club.
The full annual report and statement of accounts can be viewed here.