PGA EUROPEAN TOUR

Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. About these numbers

Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.

Accounting basis

FRS 102

Reporting scope

Consolidated group

Auditor

PricewaterhouseCoopers LLP

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“The Group meets its day-to-day working capital requirements through the cash reserves available to it. As part of the strategic alliance the PGA TOUR pay a guaranteed and non-repayable Annual Investment Payment. Along with this and review of detailed cash forecasts the Directors have a reasonable expectation that the Group has adequate resources to continue in operational existence for the foreseeable future. On this basis the financial statements are prepared on a going concern basis.”

Group structure

1. PGA EUROPEAN TOUR · parent
   1. European Golf Management Limited · Virginia Water, Surrey, GU25 4LX · Golf course consultancy
   2. PGA European Tour Productions Limited 75% · Virginia Water, Surrey, GU25 4LX · Television production and distribution of golf programmes
   3. Ryder Cup Europe LLP 60% · Virginia Water, Surrey, GU25 4LX · The promotion of the Ryder Cup
   4. Ryder Cup Limited 60% · Sutton Coldfield, West Midlands, B76 9PT · The promotion of the Ryder Cup
   5. European Tour China Limited 100% · Virginia Water, Surrey, GU25 4LX · Representative office
   6. Ryder Cup 2027 Commercial Limited 60% · Dublin, Dublin 2, Ireland · The promotion of the Ryder Cup 2027
   7. Ryder Cup Italy Limited 60% · Virginia Water, Surrey, GU25 4LX · The promotion of the Ryder Cup 2023

Significant events

• “Delivered a record $148.5m prize fund in 2024 on the DP World Tour (2023: $144.2m).”
• “Total Group turnover of £355.6m was a record for a non-Ryder Cup year.”
• “Excluding the Ryder Cup, sponsorship turnover grew by 15% versus 2023 and consumer turnover (comprising ticketing, hospitality and merchandise sales) grew by 28% versus 2023.”
• “Group earnings before interest, tax, depreciation and amortisation ("EBITDA") of (£18.1m) in 2024 (2023: (£10.3m)).”
• “As part of the strategic alliance agreement and in consideration for the transfer of an additional 25% of shares in PGA European Tour Productions Limited ("ETP"), PGA TOUR (and its subsidiaries) pays an Annual Investment Payment to the Company. In 2024 this amounted to £21.5m (2023: £19.6m), a total of £41.1m/$50.1m to date in return for which 10% shareholding has been transferred.”
• “The Group continues to have a strong cash position, with a cash balance of £57.6m at the end of 2024 (2023: £72.0m).”
• “Stakeholder Satisfaction score was 8.46, beating the Company's KPI.”
• “New season-structure for 2024 generated strong fan engagement, with increases in spectator numbers versus 2023 and strong growth in social media followers and engagement.”
• “Golf for Good, our programme to make the Company more socially and environmentally sustainable, generated £0.7m for charitable causes in 2024.”
• “The G4D (Golf for the Disabled) Tour included events in Africa and North America for the first time and Australian Steve Alderson's emotional post-round interview following his victory in Spain went viral on social media, encapsulating the power of the G4D Tour and its ability to inspire.”
• “2024 was the first year in post for the Company's Chief Executive Officer, Guy Kinnings, who replaced the outgoing Keith Pelley in April 2024.”
• “The Group achieved a record sponsor satisfaction score in 9.43 out of 10 (2023: 9.11), a 3.5% increase on 2023.”
• “The DP World Tour enjoyed growth in spectator numbers in 2024. Across the season, for the 17 tournaments staged directly by the Company on the DP World Tour and that were held in both 2023 and 2024, there was an 8% increase in total spectator numbers to 724,000 (2023: 670,000).”
• “The 2024 Challenge Tour Road to Mallorca featured 29 tournaments in 18 countries with a total prize fund of more than €8m.”
• “In 2024 the Legends Tour comprised 15 events, including new tournaments in Barbados, Greece, Mexico and Spain, with a record prize fund.”
• “The G4D Tour saw a total of 43 players from 14 countries competing at nine tournaments in 2024, with six winners. This included events in Africa and North America for the first time.”

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

5

last 12 months

Capital events

0

last 24 months

Officers appointed

1

last 12 months

Officers resigned

1

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.

• Turnover

  -20.7%

  £448,234,000 → £355,583,000

• Cash

  -20%

  £71,964,000 → £57,588,000

• Net assets

  -17.4%

  £46,609,000 → £38,493,000

• Employees

  +0.9%

  344 → 347

• Operating profit

  -39.5%

  -£19,794,000 → -£27,618,000

• Profit before tax

  -22.6%

  -£23,816,000 → -£29,198,000

• Wages

  -2.7%

  £27,588,000 → £26,833,000

Each % is (latest − prior) ÷ |prior| for the line item as filed. The comparison is only shown when the latest and prior accounts cover broadly equal-length periods — short or long stubs (typical around incorporation or a year-end change) are suppressed rather than misrepresented. Lines a company doesn't report are omitted. About these numbers