2015 Financial Result

[Fatcat08]

$0.7 million loss

http://www.lions.com.au/news/2015-11-20/financial-results


Full Document here
http://s.afl.com.au/staticfile/AFL ...ents/150546_Financial_Report_2015_spreads.pdf

 

[The Golfing Lion]

Great to see genuine improvement even though still a loss. Continue the trend and a profit is coming. Well done to the admin for creating a change in momentum

 

[Milux]

Still a loss but a massive gain aswell. I dont beleive we could survive many more 2.5+ million dollar losses.

 

[SizeMatters]

Financial club is a good little nest egg to have. Can't wait until we have the funds to get another social club started up. Aspley FC would be a great location IMO.

 

[Groo2]

Will be interesting how the (Melbourne) media spin this. Eg "Lions 9MILL in Debt", "Another big financial loss for Brisbane", or pitch it similar to the lions website that it is an improved result compared to previous years.

 

[Simbatheking21]

Can't wait to hear Eddie wank off to our profit loss again. With his shit jokes like "Brisbane are changing their name.... To Owen.... Owen 16 million"

 

[Milux]

Can't wait to hear Eddie wank off to our profit loss again. With his shit jokes like "Brisbane are changing their name.... To Owen.... Owen 16 million"

Thats actually humerous. Dont think eddie has a humerous. Or is it spine.

 

[Back2Back2Back]

It's easy to gloat when your club is already a financial powerhouse. To go from what, -$3.5m last FY to -$0.7 this one, through a season where we nearly ended up dead last on the ladder is nothing short of impressive. Eddie can go screw himself, that's a solid effort IMO.

 

[WA Lion]

It's easy to gloat when your club is already a financial powerhouse. To go from what, -$3.5m last FY to -$0.7 this one, through a season where we nearly ended up dead last on the ladder is nothing short of impressive. Eddie can go screw himself, that's a solid effort IMO.

yep - finish 2nd last and reduce the net loss from the previous financial year by $2.8mil is a fair effort. Plenty of Vic games and some big names coming to the Gabba in 2016 should help further

 

[xplo]

Noticed Bombers waited till 6:30 on a Friday to announce their loss. We're amateurs at this

 

[GingerGreatness]

So we spent $21.5 million on footy dept spending. From last year's "footy tax" articles, Collingwood spent $22 million on their footy dept in 2014.

To be honest, I expected:

- our footy dept spend to be way lower;

- our merch sales to be way up, given the jumper.

Still, the $1.5 mil off the Westpac bill & $2.5 mill cash in the bank - even with $1.5 mill pumped in by the AFL - has to be good news.

 

[Fatcat08]

So we spent $21.5 million on footy dept spending. From last year's "footy tax" articles, Collingwood spent $22 million on their footy dept in 2014.

To be honest, I expected:

- our footy dept spend to be way lower;

- our merch sales to be way up, given the jumper.

Still, the $1.5 mil off the Westpac bill & $2.5 mill cash in the bank - even with $1.5 mill pumped in by the AFL - has to be good news.

Our net distribution from the afl increased by 3.4 million this year.

 

[Schache It Off]

51 million in one year? Damn we have to be top 8 in revenue surely.

 

[GingerGreatness]

Our net distribution from the afl increased by 3.4 million this year.

Sorry - $15m, not $1.5.

Gabba 12 month extension noted in there too. Will be one to watch.

 

[bombersfan4000]

Will be interesting how the (Melbourne) media spin this. Eg "Lions 9MILL in Debt", "Another big financial loss for Brisbane", or pitch it similar to the lions website that it is an improved result compared to previous years.

what is the go with the current debt? my understanding setting up the social club is a big part of that debt?

 

[Fatcat08]

what is the go with the current debt? my understanding setting up the social club is a big part of that debt?

the repayment of the social club debt should be close to repaid given we accelerated its repayment. Still regardless of what its assigned to its still the same amount of debt at the end of the day.

 

[Dom PC]

It's like chalk and cheese when reading about the Collingwood financials. There is close to $50 million dollar difference between their balance sheet and ours

 

[MSB ROYS]

It's like chalk and cheese when reading about the Collingwood financials. There is close to $50 million dollar difference between their balance sheet and ours

Still won more premierships in the last 50 years.

 

[Panthera]

http://www.heraldsun.com.au/sport/a...t/news-story/876d8168a944c94b73d5d23b4cbdba35

 

[Last of the Roys]

http://www.heraldsun.com.au/sport/a...t/news-story/876d8168a944c94b73d5d23b4cbdba35

The article contains similar observations from the financial statements that I was going to make when they first came out (but I couldn't be bothered!).

Self evidently (as has been the case now for around half a decade) we continue to remain in existence / are not insolvent only due to the continued direct support of the AFL (over and above the distributions they normally provide clubs). Our current liabilities exceed our current assets by a massive amount ($8.6m), although most of that ($8m) is actually owed directly to the AFL.

Our accumulated deficit is now $9m [that is really the combined total of all the Club's profits and losses over its existence], so not only have we well and truly burnt through the profits generated during our golden years, we have kept burning all the way to the position we are in now.

There is nothing we can do about the past, but obviously it will be very difficult to get out of the hole we are in financially and set ourselves on a path to be self reliant. We need to be successful onfield again for a sustained period of finals appearances (which currently still look a number of years away). And then we must use that basis incredibly wisely to build a sustainable future (instead of the complete stuff up that happened last time via Michael Bowers).

As for the current year's result, my overall impression is that some of the improved result is due to things the Lions have done (generation more revenue / reducing costs), but some of is definitely due to the AFL providing specific additional assistance to the Club (it is impossible to tell which factor contributes the most without more info, but I suspect the later).

 

[M Malice]

how is the lions social club at springwood going? been open a few years now. have been there a bit, always seems like a good crowd there.

 

[CarloLion]

how is the lions social club at springwood going? been open a few years now. have been there a bit, always seems like a good crowd there.

I think it provides a pretty good source of revenue, its just that we havent really been seeing that as we have still been paying off the debt for its creation

 

[Last of the Roys]

how is the lions social club at springwood going? been open a few years now. have been there a bit, always seems like a good crowd there.

The figures contained in the Lions financial report suggests it is going pretty well.

Social Club revenue of $15.8m in 2015, up from $15.4m in 2014
Social Club expenses of $12m in 2015, down from $12.6m in 2014

That would give a net social club (operating???) profit of $3.8m in 2015 up from $2.8m in 2014.

However, it is not clear that the reported Social Club expenses take into account depreciation / amortisation, and I don't think they take into account financing costs. The later were $0.5m for 2015 for the Club as a whole, obviously only a proportion of that would be for the Social Club.

In any case, the figures we have been provided with look pretty good.

 

[Last of the Roys]

On a related issue to our financial results, Caroline Wilson has an article on the financial results for the AFL / the Clubs in 2016.

http://www.theage.com.au/afl/afl-warns-of-a-20m-loss-in-2016-20151130-glbvvc.html

It starts off with the following:

The AFL has forecast a loss of almost $20 million for next year as the financial woes of the majority of its clubs continues to haunt the competition.

League chief Gillon McLachlan revealed the gloomy outlook for 2016 to club bosses on the eve of last week's national draft, signifying a financial year-to-year downward turnaround estimated at $22 million.

The revelation came as the AFL enters its final year of the current broadcast rights agreement and the second year of the wildly unpopular two-year equalisation measures which look certain to be scrapped and restructured from 2017.

And it has coincided with repeated warnings from the game's new financial controller Ray Gunston that the AFL clubs are overspending and must rein in their budgets next season. The current debt being carried by the clubs is estimated at an alarming $60 million and the $20 million loss has been blamed largely on the clubs' financial woes.
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