Business Irish

Tuesday 16 September 2014

Despite Aviva's 700,000 customers stadium delivers €2.3m loss for 2012

Published 03/10/2013 | 05:00

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Workers prepare the Aviva Stadium for a concert
Workers prepare the Aviva Stadium for a concert

THE company that manages Dublin's iconic Aviva Stadium last year suffered a €2.3m loss despite playing host to dozens of sporting events, conferences and concerts by acts such as Lady Gaga.

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The company's loss was fractionally better than the €2.4m figure for the previous year.

Stadium owner New Stadium Ltd said 2012 marked the third year in operation for the Aviva Stadium, which is the home of Irish soccer and rugby.

It also played host last year to various big-name concerts, including headline acts Madonna and Lady Gaga.

New Stadium is an events business and while the company doesn't own the events, it facilitates them on behalf of event organisers across a wide range of sporting and entertainment activities.

It shareholders include the Irish Rugby Football Union (IRFU) and the Football Association of Ireland (FAI)

Accounts filed with the companies office show New Stadium had an operating profit last year before depreciation and amortisation of €5m, compared with an operating profit of €4.5m in 2011.

"2012 marked the third year of operation at the Aviva Stadium," the accounts said.

"Further progress has been made in all areas of our business. This progress has resulted in an improved financial performance."

The company has debts of €261.8m, including outstanding shareholder loans from the IRFU of €33.41m and €24.7m from the FAI.

The shareholder loans are interest-free, unsecured and repayable on demand.

Last year saw 17 sporting and entertainment events at the south Dublin venue, attracting almost 700,000 customers.

It hosted five international rugby fixtures including two autumn international games. It also hosted the Heineken Cup quarter and semi-final in April 2012.

The Emerald Isle Classic also took place in the stadium in September, an American football event which saw a capacity crowd attend for the game between the United States Naval Academy and the University of Notre Dame.

This year, the stadium has hosted concerts by Rihanna and Robbie Williams amongst others.

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