March 25, 2023
2021/22 financial results announced

WH Holding Ltd right this moment introduced its monetary outcomes for the yr ended 31 Might 2022.

Within the 2021/22 season, the Membership reported a web revenue earlier than tax of £12.3m, a notable improve of £39.2m in comparison with a lack of £26.9m in 2020/21.

This revenue stemmed from a profitable 2021/22 marketing campaign on the pitch, with David Moyes’ staff ending seventh within the Premier League, securing back-to-back European qualifiers for the primary time within the Membership’s 127-year historical past and reaching the semi-finals. – UEFA Europa League finals.

As well as, the acquisition of a brand new investor (as a Nineties holding) led by Daniel Křetínský, whom the Membership welcomed in November 2021, with David Sullivan and David Gold as Co-President, added additional energy and experience to the Membership’s capital. Constructing on the optimistic progress West Ham United has made in recent times, it has ensured that funds generated by sustained income progress throughout all key income streams are directed to key focus areas.

Turnover was £252.7m, up £60.0m from final yr due to improved matchday, industrial and retail income due to the return of our unbelievable followers following the COVID-19 pandemic yr that confirmed soccer means nothing with out the followers. in addition to the Membership’s unforgettable run to the Europa League semi-finals. The membership’s web debt, together with money, fell by £130.0m and remained in a strong and wholesome place with web belongings of £40.9m, together with money of £96.5m at year-end.

The membership’s shareholders obtain no dividends or salaries, and so the injection of the £125.0m of recent capital used to repay the debt has resulted in the next revenue that can proceed to be reinvested within the membership. This new funding has since supported important modifications to the taking part in roster, together with the Membership file signing of Brazilian worldwide star Lucas Paquetá in the course of the 2022 summer time switch window, and several other extra established worldwide gamers becoming a member of the Hammers forward of a second consecutive season in European competitors. . .

Co-President and largest shareholder David Sullivan stated: “It stays a privilege and an honor to be the guardian of this nice soccer membership.

“The 2021/22 season is taken into account to be some of the profitable seasons in West Ham United’s 127-year historical past, as for the primary time ever in English soccer’s highest league we completed within the prime seven for the second consecutive time and reached the semi-finals – the finals of a significant European competitors. .

“It was an important supply of pleasure and satisfaction that we have been in a position to benefit from the expertise with our loyal followers and following the staff on land and sea on the London Stadium after the challenges of the COVID-19 pandemic.

“The truth that we’ve got managed to make such optimistic progress over the previous seasons is a testomony to the onerous work of our gamers, administration and workers, and the loyalty and dedication of our followers. This progress was important in serving to us entice main new investments final yr, and particularly given the worldwide challenges posed by the pandemic, soccer I’m proud that the membership is now in a wholesome place.

“The monetary efficiency in 2021/22 has resulted in important funding in all of our squads, significantly the squad that performs within the first males’s staff, as a part of our long-term technique to make sure that West Ham United stays one of many main golf equipment. inside and outdoors.”

click on Here To view the complete monetary outcomes for the yr ended Might 31, 2022.

#monetary #outcomes #introduced

Leave a Reply

Your email address will not be published. Required fields are marked *