News Club financials for 2018 season

[Pugz89]

Another strong result, despite on field performance.

http://m.westernbulldogs.com.au/news/2018-11-28/bulldogs-post-fourth-straight-significant-profit

Quite a fan of the podcast as well. Great idea from Tom. Gordo and Ameet were a good addition to the mix.

 

[maddog37]

Numbers bodies please extrapolate some good and bad for us all.

 

[bobs head soup]

For decades it seemed getting debt free was as big and distant a goal as a flag. Total bank debt of zero and $7 million in cash is a pretty extraordinary position from that background. Huge well done to all involved

 

[jdz101]

Property asset allocations from the government shouldn't really be making it to the profit headline imo. That is a little bit cheeky.

I know it does have a serious effect to the overall bottom line now and into the future, but a touch misleading to have it headlining the announcement as an 18 million profit.

Meat and taters of the report was ok. Membership revenue down obviously expected. A bit worried that we're piling up cash, yet spent less on footy department this year than last. Will watch the podcast to see where the newfound pile of cash is going to go.

 

[TempletonTheRat]

Property asset allocations from the government shouldn't really be making it to the profit headline imo. That is a little bit cheeky.

I know it does have a serious effect to the overall bottom line now and into the future, but a touch misleading to have it headlining the announcement as an 18 million profit.

Meat and taters of the report was ok. Membership revenue down obviously expected. A bit worried that we're piling up cash, yet spent less on footy department this year than last. Will watch the podcast to see where the newfound pile of cash is going to go.

can't see where this was stated. It states we got less funds from the AFL than previously. The financial report has our total football department spend as increasing by almost $0.5M but that covers VFL, AFLW and VFLW not just the AFL

 

[Dogs_r_barking]

Good to hear that the payment from the AFL has been reduced by $500,000, however we don’t get the blockbuster games that are fixed each year for the big clubs. We have missed out on Black Friday as well, so still a lot of inequity.

 

[jdz101]

can't see where this was stated. It states we got less funds from the AFL than previously. The financial report has our total football department spend as increasing by almost $0.5M but that covers VFL, AFLW and VFLW not just the AFL

Yeah it might be spread out over a lot of different departments - just a small tidbit that they spent half a mill more in 2017 than 2018.

Football department expense (24,965,803) (25,489,964)

I'd like to see this increasing next report instead of decreasing and also overall operating revenue increasing year on year. The membership drop didn't really help them in that regard. That number would be healthier with membership just staying the same (unrealistic considering onfield). The increase in sponsorship dollars is a good sign too.

Overall pretty good.

 

[Fossie 32]

Property asset allocations from the government shouldn't really be making it to the profit headline imo. That is a little bit cheeky.

I know it does have a serious effect to the overall bottom line now and into the future, but a touch misleading to have it headlining the announcement as an 18 million profit.

Meat and taters of the report was ok. Membership revenue down obviously expected. A bit worried that we're piling up cash, yet spent less on footy department this year than last. Will watch the podcast to see where the newfound pile of cash is going to go.

So how much is it apart from the asset allocations? 18 mill is amazing!

 

[BrisDog]

It’s time for us all to start rattling cans on Barkley St in bikinis boys

 

[jdz101]

So how much is it apart from the asset allocations? 18 mill is amazing!

2.2mill before all the redevelopment stuff 15.8 mill from the property.

Still a nice result.

The last overall balance sheet page of the numbers is extremely satisfying as a doggies fan if you've been one for a long time.

 

[Doggiesfan14]

Haven't looked at this in detail, but has the sale of the pokies been done/included in the financial report for this year? Or have we got another significant profit to be made next year?

 

[Eastdog]

Great to be debt free!

 

[ABitWoofy]

Meanwhile the saints debt has hit $12m. Yikes!

 

[jdz101]

Meanwhile the saints debt has hit $12m. Yikes!

Thats ****ed...no wonder they're slaves to playing in China.

 

[Prince Imperial]

Haven't looked at this in detail, but has the sale of the pokies been done/included in the financial report for this year? Or have we got another significant profit to be made next year?

No, the gaming businesses have not been sold. If they are as expected, this should deliver a very substantial one-off profit. $3m of additional state government funding for the Whitten Oval should also come in.

 

[Substance]

Property asset allocations from the government shouldn't really be making it to the profit headline imo. That is a little bit cheeky.

I know it does have a serious effect to the overall bottom line now and into the future, but a touch misleading to have it headlining the announcement as an 18 million profit.

Meat and taters of the report was ok. Membership revenue down obviously expected. A bit worried that we're piling up cash, yet spent less on footy department this year than last. Will watch the podcast to see where the newfound pile of cash is going to go.

More cash than we know what to do with it seems.
Oh how the turn tables...

 

[DelRe]

Property asset allocations from the government shouldn't really be making it to the profit headline imo. That is a little bit cheeky.

I know it does have a serious effect to the overall bottom line now and into the future, but a touch misleading to have it headlining the announcement as an 18 million profit.

Meat and taters of the report was ok. Membership revenue down obviously expected. A bit worried that we're piling up cash, yet spent less on footy department this year than last. Will watch the podcast to see where the newfound pile of cash is going to go.

Agree, it’s perfectly allowed, but ultimately it is a bit of an accounting fiction as it’s not as if the club has or can realise that revenue for other investments. The actual operating revenue is relatively stagnant if not slightly declining. They have a solid basis to work from though and the club is right that it needs to now focus on that area as summed up well by Bains:

“We are extremely pleased with the Club’s financial position, but remain acutely aware of the need to grow our revenue streams to fund an expected increase in costs across the business over the next few years”

Gary Kent seems a bit of a loss in that respect in terms of his strong CFO background (as opposed to CEO). Would be good to have someone of that caliber back on the board to support Bains.

 

[grassman75]

So when are our membership figures coming out?

257,421 for 2018/19?

If you can't beat them join them

 

[House_of_Dahl]

Finally we can get that pothole fixed!

 

[ExRoyboy]

I honestly never thought I would see the day when the Bulldogs had zero debt and $7 million in the bank..... it really is amazing and I’m glad that even though the club wasn’t able to maintain the onfield success from 2016, at least the smart people there made sure that the finances got fixed so that we are set up for more future success and don’t have that millstone hanging around our necks anymore.

Well done Doggies and keep up the good work. To all supporters thinking about becoming members, sign up now as there will be great times ahead.

 

[Golden_6]

Agree, it’s perfectly allowed, but ultimately it is a bit of an accounting fiction as it’s not as if the club has or can realise that revenue for other investments. The actual operating revenue is relatively stagnant if not slightly declining. They have a solid basis to work from though and the club is right that it needs to now focus on that area as summed up well by Bains:

“We are extremely pleased with the Club’s financial position, but remain acutely aware of the need to grow our revenue streams to fund an expected increase in costs across the business over the next few years”

Gary Kent seems a bit of a loss in that respect in terms of his strong CFO background (as opposed to CEO). Would be good to have someone of that caliber back on the board to support Bains.

Sue Clark is our CFO and she has a long list of credentials.

 

[BEaston]

I honestly never thought I would see the day when the Bulldogs had zero debt and $7 million in the bank..... it really is amazing and I’m glad that even though the club wasn’t able to maintain the onfield success from 2016, at least the smart people there made sure that the finances got fixed so that we are set up for more future success and don’t have that millstone hanging around our necks anymore.

Well done Doggies and keep up the good work. To all supporters thinking about becoming members, sign up now as there will be great times ahead.

Hard to believe isn't it

 

[RedWhite&Blue]

Meanwhile the saints debt has hit $12m. Yikes!

With nearly $8million cash in the bank that means we are $20million ahead of the Saints balance sheet.
There are some smart cookies down at Whitten Oval who caught that premiership wave and are still riding it.
It's amazing what a premiership and good governance can do for a club.

 

[DelRe]

Sue Clark is our CFO and she has a long list of credentials.

She’s COO and according to the press release at the time has no prior experience in that role and her experience (at least for the past ten years) is confined to Geelong only taking on the more senior CFO role in 2014 so I don’t think I’d agree with you on the credentials point. She’s also not on the board which was the point I was getting at with Kent. I would think both Clark and Bains would benefit from Kent still being on the board as it doesn’t seem to have that experience currently.

Clark Kent also seems a natural fit ...

 

[Pugz89]

With nearly $8million cash in the bank that means we are $20million ahead of the Saints balance sheet.
There are some smart cookies down at Whitten Oval who caught that premiership wave and are still riding it.
It's amazing what a premiership and good governance can do for a club.

We are ahead of them financially, but they are ahead of us with their redevelopment of Moorabbin. Will have spent much more on that already, than what we have for VUWO works which can cause some confusion with the numbers.

I think they need a really strong season in 2019 though, as their crowds dropped off this year and it meant they didn't actually make much off a re-negotiated deal for Etihad/Marvel Stadium.

Interesting that Ameet and PG mentioned how important the first month is for on field results in regards to membership and crowds for the rest of the season, hopefully we can start to push up towards an average crowd of 38-40k at Marvel this year which will really tick the numbers over on our balance sheet.