Manchester United plc (NYSE: MANU) reported Q4 EPS of (GBP21.59), GBP1.59 worse than the analyst estimate of (GBP20.00). Revenue for the quarter came in at GBP81.5 million versus the consensus estimate of GBP100.74 million.

Key Points

• Acquired Edinson Cavani, Amad Diallo, Facundo Pellistri, Alex Telles and Donny van de Beek and renewed deals with Dean Henderson, Nemanja Matic, Scott McTominay and Brandon Williams
• Brought in two-time World Cup winning US National Team players, Tobin Heath and Christen Press to the women’s team
• Club entered into 8 new global partnerships, renewed 8 existing partnerships and announced a strategic relationship with Alibaba during fiscal 2020
• FY20 Sponsorship revenues increased 5.6% versus the prior year
• The men’s first team qualified for the UEFA Champions League for the 2020/21 season

Management Commentary

Ed Woodward, Executive Vice Chairman, commented, “Our focus remains on protecting the health of our colleagues, fans and community while adapting to the significant economic ramifications of the pandemic. Within that context, our top priority is to get fans back into the stadium safely and as soon as possible. We are also committed to playing a constructive role in helping the wider football pyramid through this period of adversity, while exploring options for making the English game stronger and more sustainable in the long-term. This requires strategic vision and leadership from all stakeholders, and we look forward to helping drive forward that process in a timely manner. On the pitch, we have strengthened the team over the summer and we remain committed to our objective of winning trophies, playing entertaining, attacking football with a blend of Academy graduates and high-quality recruits, while carefully managing our resources to protect the long-term resilience of the Club.”

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