herald

Sunday 22 October 2017

Robbie and Rihanna's €4.55m lift for Aviva

Rihanna in concert at the Aviva stadium, Dublin
Rihanna in concert at the Aviva stadium, Dublin
Rihanna.
Robbie Williams is struggling through his latest tour with a bad back

The staging of concerts by Rihanna and Robbie Williams at the iconic Aviva stadium contributed to the firm operating the stadium recording an operating profit of €4.55m.

New accounts filed by New Stadium Ltd show that the firm recorded a profit of €4.55m before non-cash depreciation and amortisation.

The directors' report states that last year, almost 750,000 customers attended 19 sporting and non-sporting events at the stadium. The 750,000 sporting and music fans represents a 50,000 increase on the 700,000 that paid to see events at the stadium in 2012.

The stadium provides a massive spin-off to businesses in the Dublin 4 area every year.

Sporting events held included the Heineken Cup final in May along with five Ireland international rugby fixtures.

Football fixtures included the Republic's home qualifiers for the 2014 World Cup and friendlies along with the 'very successful' Dublin Decider between Liverpool and Celtic.

Last year, Robbie Williams, Rihanna and Roger Waters staged concerts at the venue.

The stadium has held no concerts this year and was at one stage mooted as an alternative to the failed Garth Brooks's concerts at Croke Park.

The directors' report states that "further improvements were made in reducing year-on-year costs and maximising revenue opportunities, both of which again have resulted in a satisfactory financial position at year end".

figures

The operating profit of €4.55m last year followed operating profits of €4.97m in 2012.

The figures show that the firm's non-cash depreciation totalled €10.2m last year with grant amortisation amounting to €4.1m. Interest costs totalling €1m contributed to a pre-tax loss of €2.65m and this followed a pre-tax loss of €2.29m.

hnews@herald.ie

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