News 2016 financials

King Harold

Norm Smith Medallist
Apr 23, 2013
6,796
9,880
AFL Club
Western Bulldogs
Other Teams
Cleveland Indians
Apparently the egg and bacon rolls are the profit leader.
that "I can't believe its not bacon" has been a godsend.

Obviously the cheese bacon and egg rolls have been a bit hit and money spinner ,
But if they could make their coffee hot they will make a lot more.
I refuse to buy coffee there.
Gordo , take note KH not happy !
 

wian

Premiership Player
May 21, 2008
4,913
4,381
melbourne
AFL Club
Western Bulldogs
Other Teams
NZ Breakers / New York Knicks
I thought the dogs overall debt was somewhere in the vicinity of 12-14 Million?
 
Apr 9, 2003
1,693
1,504
Skinner Reserve
AFL Club
Western Bulldogs
The club has today finally made available the 2016 Financial Report (the AGM is on Monday):

http://s.afl.com.au/staticfile/AFL%2...eport%20LR.pdf

Some initial observations:

- As expected, the club has significantly more current assets (particularly cash) to meet current liabilities (creditors and borrowings). Given the cash that flowed into the club in October, I'd reckon they were still working out what to do with it at the date of the report (31 October) so I would think it's likely they would have reduced these liabilities since then with the extra cash.
- Borrowings reduced from about $5.6m to $4.1m a highlight.
- Much bigger profits from the hospitality venues, membership, sponsorship and of course merchandise.
- EML signed as coaches sponsor for the next three seasons.
 
Last edited:
The club has today finally made available the 2016 Financial Report (the AGM is on Monday):

http://s.afl.com.au/staticfile/AFL%2...eport%20LR.pdf

Some initial observations:

- As expected, the club has significantly more non-current assets (particularly cash) to meet non-current liabilities (creditors and borrowings). Given the cash that flowed into the club in October, I'd reckon they were still working out what to do with it at the date of the report (31 October) so I would think it's likely they would have reduced these liabilities since then with the extra cash.
- Borrowings reduced from about $5.6m to $4.1m a highlight.
- Much bigger profits from the hospitality venues, membership, sponsorship and of course merchandise.
- EML signed as coaches sponsor for the next three seasons.
Cash is a current asset, not a non-current asset.
 

Pugz89

Brownlow Medallist
Jun 29, 2015
11,153
12,829
AFL Club
Western Bulldogs
For someone who isn't very cluey on all this stuff, Is it a good report? I know old mate Janus was hanging s**t on us for reporting our operating profit of 3.6M which apparently is not an accurate reflection.
 
Apr 9, 2003
1,693
1,504
Skinner Reserve
AFL Club
Western Bulldogs
So what is our 'actual' profit? It looks like $1.6M but again, i got no idea how to read this stuff lol

It's $1.7m, but that's only after a major write down of the value of gaming machine entitlements that were bought for the failed Edgewater project. Our ability to pay loans, creditors and accrued leave to employees improved massively by over $5m by my reckoning.
 

Pugz89

Brownlow Medallist
Jun 29, 2015
11,153
12,829
AFL Club
Western Bulldogs
It's $1.7m, but that's only after a major write down of the value of gaming machine entitlements that were bought for the failed Edgewater project. Our ability to pay loans, creditors and accrued leave to employees improved massively by over $5m by my reckoning.
So without that major write down, we'd have actually made a 200k loss? Not sure that is a great position to be in especially after we claimed 1.2M for winning the flag. Was the write down required at some point or did we just pick this year to do it to make our profit look bigger than it should after excess merch sales and flag win?
 
Mar 15, 2012
10,877
25,705
Melbourne
AFL Club
Western Bulldogs
Other Teams
Footscray, Melbourne City
So without that major write down, we'd have actually made a 200k loss? Not sure that is a great position to be in especially after we claimed 1.2M for winning the flag. Was the write down required at some point or did we just pick this year to do it to make our profit look bigger than it should after excess merch sales and flag win?
A write down is bad.
If, as your hypothetical suggests, this write down did not occur - that would be a good thing and would have us in a better financial position.
There is no way that your hypothetical scenario could result in a loss, rather it would have been a bigger profit.
 

TiAn_

Norm Smith Medallist
Sep 19, 2006
7,415
18,931
Melbourne
AFL Club
Western Bulldogs
Good, if unspectacular.

The increase in revenue per membership is great and should dramatically increase again this year.

Gate receipts are still low; I'm excited to see what we can do with an improved deal at Etihad, whenever that eventuates.

The reduction in borrowings by $1.5m is a big win. If we can keep that up for 3 more years we'll clear our bank debt. That will be a big milestone for the club.

Edgewater was an unmitigated disaster.
 
Apr 9, 2003
1,693
1,504
Skinner Reserve
AFL Club
Western Bulldogs
So without that major write down, we'd have actually made a 200k loss? Not sure that is a great position to be in especially after we claimed 1.2M for winning the flag. Was the write down required at some point or did we just pick this year to do it to make our profit look bigger than it should after excess merch sales and flag win?

Other way around. Without the write down, the profit was $3.6m.
 

Pugz89

Brownlow Medallist
Jun 29, 2015
11,153
12,829
AFL Club
Western Bulldogs
I did, i just knew that if we ever won a premiership it would launch the club big time. We always had the biggest scope of area to utilize for growth.
Suspect that was why the cup did the 3 month tour as well. A club by the people for the people. And trying to engage new fans out that way as well.
 

cecil

Club Legend
Feb 28, 2010
2,090
2,686
AFL Club
Western Bulldogs
Is the club still looking at legal solutions to the debts surrounding Edgewater? May see some more of that debt wiped if that eventuates
 
Apr 9, 2003
1,693
1,504
Skinner Reserve
AFL Club
Western Bulldogs
Is the club still looking at legal solutions to the debts surrounding Edgewater? May see some more of that debt wiped if that eventuates

It is stated in the report that the Club will continue to seek recovery of its losses from the defaulting parties to the Edgewater transaction; principally Prizac.

I note though a previous poster in this thread stated that we would never sue because they would bankrupt themselves and there were multiple reasons for us pulling out (including that the lease terms for us were very unfavourable).
 
Mar 10, 2007
52,545
98,134
Melbourne
AFL Club
Western Bulldogs
Other Teams
Charlton Athletic, Roys FFC
Article on AFL.com states we've made over $2 mill in merch sales
Obviously not all profit, but good numbers nonetheless. I had heard a figure of $1m in sales of merchandise within a few days of the GF victory, which was good to hear...
 

Pugz89

Brownlow Medallist
Jun 29, 2015
11,153
12,829
AFL Club
Western Bulldogs
Article on AFL.com states we've made over $2 mill in merch sales
Pretty sure that was in the two months through finals and month after GF alone as well. Add to that everyone going out and getting the new Asics top and the past 3-4 months of merch sold would be well and truly a record for us.
 
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