Investment Investment in transfer and signing fees and other intangible fixed assets Divestment of transfer and signing fees Investment in tangible fixed assets Divestment of tangible fixed assets Investment in financial fixed assets - - - RECENT DEVELOPMENTS PROSPECTS (x NLG '000) 01/07/97- 31/12/97 96/97 95/96 94/95 15,803 61,074 14,913 11,392 (9,027) (13,383) (2,504) (12,989) 6,126 13,190 (10,169) 14,064 (429) 6,152 (350) 20,030 Divestment of financial fixed assets Investment in intangible fixed assets As a result of the Bosman ruling and the increased number of players in the selection, the investment in transfer and signing fees and other intangible fixed assets has increased considerably in the financial years 1995/1996 and 1996/1997. The capitalised Transfer and Signing Fees can deviate from the actual market value of these players' contracts. Investment in tangible fixed assets The most important investments in tangible fixed assets in the financial years 1994/1995, 1995/1996 and 1996/1997 are investments in land and buildings for example in building 'De Toekomst' and refumishments of the ArenA Stadium. Total amount invested was NLG 27 million. In addition, investment has been made in other inventory. Investments in financial fixed assets and acquisitions The investment in financial fixed assets concerns an investment of NLG 20 million in certificates of shares of the 'Stadion Amsterdam N.V. and NLG 30,000 in ENV. In the first half of the 1997/1998 financial year, turnover from football activities was negatively influenced by Ajax not participating in the Champions League. As a result of the increased number of players in the selection of the first team, caused by the contracting of new players, and the longer and lengthened contracts that were closed at higher costs, personnel costs increased in the current financial year. The result over the whole financial year 1997/1998 after taxation is not expected to be positive assuming that there will be no further increase of the transfer income result in the second half of the current financial year. In the current financial year, total turnover from gate receipts and premiums will decline because the club has not participated in the Champions League. Furthermore, there is an increase in the wages and social security costs which resulted from investments in new players at the beginning of the season. On the other hand, there was a slight increase in sales from business seats and sky boxes as a result of a slight price increase of these stadium seats as well as the expansion of the number of business seats in 1997/1998. There was also an increase in turnover from sponsoring and advertising as a result of the renewal of the contracts with the three largest sponsors of the Company. Ajax won the National League for the 27th time on April 12, 1998 and thereby qualified for the Champions League for the next season. In the 'Amstel Cup', Ajax has reached the semi finals. In the UEFA Cup, Ajax was eliminated in the quarter-finals. Because of the participation in the Champions League, turnover will increase in the 1998/1999 financial year.


Jaarverslagen Ajax NV (vanaf 1997) | 1998 | | pagina 39