Squizz
Brownlow Medallist
- Oct 10, 2007
- 14,562
- 3,296
- AFL Club
- St Kilda
http://www.saints.com.au/news/2013-...inancial-result?camefrom=EMCL_195884_10066328
St Kilda Football club has reported an operating loss (EBITDA) of $1,198,587. After accounting for depreciation, amortisation and interest the club made a statutory loss of $2,614,837 for the year ending October 31, 2013.
President Peter Summers said everyone at the Club is disappointed in the financial result which contrasted with an EBITDA profit for 2012 of $631,135 (statutory loss of $436,818)
"Losing our first two matches of the season unfortunately saw membership stop abruptly at 32,748 which was 2705 members short of our 2012 figure. With a 16th place ladder finish, many other match-related activities experienced sizeable negative movement, which is not uncommon when team performance falls away as it did for us in 2013,” Summers said.
The material matters that have impacted the financial result include:
The AGM will be held at Frankston Arts Centre on February 7th.
(from a quick calc, the payout to Watters appears to be pretty much as mooted at $499,787)
St Kilda Football club has reported an operating loss (EBITDA) of $1,198,587. After accounting for depreciation, amortisation and interest the club made a statutory loss of $2,614,837 for the year ending October 31, 2013.
President Peter Summers said everyone at the Club is disappointed in the financial result which contrasted with an EBITDA profit for 2012 of $631,135 (statutory loss of $436,818)
"Losing our first two matches of the season unfortunately saw membership stop abruptly at 32,748 which was 2705 members short of our 2012 figure. With a 16th place ladder finish, many other match-related activities experienced sizeable negative movement, which is not uncommon when team performance falls away as it did for us in 2013,” Summers said.
The material matters that have impacted the financial result include:
- Membership revenue: negative variance of $438,990 to 2012 (35,453 members in 2012 down to 32,748 in 2013)
- Match returns revenue: negative variance of $264,012 to 2012
- Merchandise net profit negative variance of $213,893 to 2012
- AFL future fund dis-equal untagged compensation: reduction in dividend by $275 000 (2012 - $700,000, 2013 - $425,000 )
- Saints Marching Fund (foundation): establishment costs of $203,800 (to be launched in calendar year 2014)
- Events and hospitality net profit: negative variance of $453,872 to 2012
The AGM will be held at Frankston Arts Centre on February 7th.
(from a quick calc, the payout to Watters appears to be pretty much as mooted at $499,787)