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Losses at U2's main Irish firm grow to €10.5m

New accounts filled by U2's Ireland-based holding company, Not Us Ltd show increased losses in 20...
Newstalk
Newstalk

12.56 15 Dec 2014


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Losses at U2's main Ir...

Losses at U2's main Irish firm grow to €10.5m

Newstalk
Newstalk

12.56 15 Dec 2014


Share this article


New accounts filled by U2's Ireland-based holding company, Not Us Ltd show increased losses in 2013 - growing to €10.49m from €8.35m in the previous year.

The accounts also show that the company's cash pile dropped from €545,706 to €160,196.

The dip came after a quiet period for the band. U2's lucrative 360 Tour ended in 2011 grossing $231.9m. The band's last record before 2014's Songs of Innocence was No Line on the Horizon released back in 2009.

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The main activity of the company is the creation, protection and licensing of intellectual property.

Bono, The Edge, Larry Mullen and Adam Clayton each have a 25 percent share in the company.

These accounts show that the firm owed €4.5m to connected firms and €2.7m to other related parties at year end. The company didn't owe any corporate tax - but did owe €120,650 in PAYE and PRSI at the end of 2013.

Separate accounts were also lodged for a subsidiary called U2 Ltd which reported losses of €3.1m.

Most of the band's business affairs take place in the Netherlands.


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