telsor
Hall of Famer
Its what we need going before the Feds money dries up.
but all going into one sector?
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Its what we need going before the Feds money dries up.
Vic government is throwing money at any construction project they can find lately. Supposedly it's for Covid recovery, but it's so much in one sector of the economy you can only conclude that the CFMEU must have Dan by the short and curlies.
These deals are just the loose change that's fallen by the wayside.
Bloody good effort to get the $numbers out do quickly & the operating loss is excellent.Essendon's report is now available. A $1.2m comprehensive profit but as they point out it would have a $3.7m loss without grants and donations for their facilities expansion.
Bombers announce 2020 financial result
Essendon have posted a profit in a year impacted by coronavirus.www.essendonfc.com.au
Bloody good effort to get the $numbers out do quickly & the operating loss is excellent.
The numbers will make interesting reading.
Essendon's report is now available. A $1.2m comprehensive profit but as they point out it would have a $3.7m loss without grants and donations for their facilities expansion.
Bombers announce 2020 financial result
Essendon have posted a profit in a year impacted by coronavirus.www.essendonfc.com.au
A good result overall, but yeah, looking through the numbers, there is a lot of influence from the hanger project.
A lot of clubs are going to have interesting numbers, this year and probably for a few more after. With adjustments to how clubs are run, projects like the hangar, and corrections like Rob mentioned a few posts back, there could be a bit of a rollercoaster for a while.
These are times when you better hope your club is well managed.
Richmond is out.
Richmond 2020 financial result
Richmond Football Club has announced an operating profit of $217,727 for the financial year ended 31 October.www.richmondfc.com.au
Small operating profit ($217,727)
Revenue down ~20% to $74M including $10.8M from the government from jobkeeper.
Payments to employees down only $340k down in $45mil.
Professional job by the Tiges as we have grown to expect on & off field.
I dare say a sizable slice of that would be in redundancy payments and he like, and the expectation for next year would be noticeably lower.
Overall, it looks like a good set of numbers, although it's probably a bit easier when the figures last year (both actual and budgeted) would have been very healthy.
Winning successive premierships certainly help provide the needed buffer to the bottom line in a COVID year. The YOY spin offs across its revenue base have certainly helped prop up their bottom line. Terrific result all round.Payments to employees down only $340k down in $45mil.
Professional job by the Tiges as we have grown to expect on & off field.
Richmond is out.
Richmond 2020 financial result
Richmond Football Club has announced an operating profit of $217,727 for the financial year ended 31 October.www.richmondfc.com.au
Small operating profit ($217,727)
Revenue down ~20% to $74M including $10.8M from the government from jobkeeper.
COSTS
Footy Ops - down $4.8m (17%)
Gaming - down $2.4m (37%)
Merch - down $2m (22%)
Sponsorship and Corp - down $4.2m (56%)
Aligned Leisure - unchanged
INCOME
AFL - down $1.6m (13%)
Gaming - down $4.3m (63%)
Game day and merch - down $12.8m (40%)
Sponsorship and Corp - down $5m (31%)
Aligned Leisure - down $7m (28%)
Got any thoughts on the payments to employees?
Got any thoughts on the payments to employees?
I'd guess the final result was similar due to redundancy payments and the like.
The costs involve in cuts tend to mean the benefits don't usually flow through for a while afterwards.
Another curious aspect is the $10.8M from jobkeeper.
Essendon recorded 4.5M in 'government assistance', which I assume is the same thing...Say what you will about Essendon, but they're not so incompetent as to leave ~6M on the table (and even if they were, no way would the AFL have let them!).
I can only assume a major part of this difference is from Aligned Leisure as that seems to be the only major point of difference between the clubs that could seem relevant (unless people have other ideas???).
Whichever way you look at it, it all comes down to the impact of premierships and on field success. The correlations are pronounced indeed.
Yes good point. And that’s where reviewing revenue is also problematic in a sense. These days however it’s important to have a diversified business that generates additional revenue and more importantly profit to the football Clubs bottom line. Some football clubs are more advanced and do it better than others.You're right, but 2016 is also when Richmond started Aligned leisure. That would have added a fair bit to turnover (I believe it was $14m in 2018 and $24m in 2019) which probably made up the bulk of the increase from 2016 to 2017.
Yes good point. And that’s where reviewing revenue is also problematic in a sense. These days however it’s important to have a diversified business that generates additional revenue and more importantly profit to the football Clubs bottom line. Some football clubs are more advanced and do it better than others.
Yes good point. And that’s where reviewing revenue is also problematic in a sense. These days however it’s important to have a diversified business that generates additional revenue and more importantly profit to the football Clubs bottom line. Some football clubs are more advanced and do it better than others.
It will be interesting to see Collingwood’s financial result, In light of its apparently tanking netball business, it will be interesting to see what impact it’s having on the performance of the consolidated business. Apparently it’s not performing well in a financial sense.
Yeah, it depends on what it is. I don't see Aligned leisure's profit reported separately in their accounts, but they do say they pay a tiny bit of income tax on their profit and based on that you can probably say that they don't make much of a profit (yet).
That West Coast turned over more than Richmond in 2019 despite the latter having $24m from Aligned leisure shows you just what a behemoth they are.