Resource 2021 Financials Thread

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The_Wookie

Queenslander
Jul 2, 2010
34,848
32,677
Scamander
AFL Club
Carlton
Its coming up soon, so time for a new thread.

Most clubs will report between mid november and the end of the year. AFL reports will come out some time in March.

As always Im grateful to everyone here on Bigfooty and on my twitter feed who has had meaningful contributions in these threads over the last few years. Folks like RussellEbertHandball, Prince Imperial, dave10, Rob have been invaluable with their input over the years, others have assisted with obtaining annual reports in the early years, and still others have assisted with constructive criticism and great questions, particularly Kwality lol

This has always been a colloborative effort. If you see something that is incorrect, please let me know so I can fix it.

Previous Years threads:
Last years Annual Reports
Older Reports and associated Documents Post here.

Trackers

2021 Reports Table

2020 Reports Table

2019 Reports Table
 
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dave10

Club Legend
Apr 26, 2004
2,965
1,946
Melbourne
AFL Club
Essendon
It will be interesting to see how much club revenues grow in 2022. Appears there will be a return to esr normal with respect to crowds and events. Given the lower siftcaps it should translate to stronger bottom lines in 2022.

Interesting to see Essendon revenue overtaking Collingwood and Hawthorn. Covid impacted again however also an indication of the struggles on field translating to lower operating revenues.

All three clubs in a very strong financial position with net assets over$42M and Hawthirn and Collingwood cash very strong although substantial amounts of these cash reserves would be earmarked for facility development and expansion.
 

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Prince Imperial

Club Legend
Apr 9, 2003
1,466
1,129
The Drill Hall
AFL Club
Western Bulldogs

no1saint66

Team Captain
Apr 14, 2016
324
647
AFL Club
St Kilda
If you look at the gate taking for St Kilda for 2014 - a full season compared to 2021, you can see how poor the financial deal was with Colonial/Etihad/Marvel - lol.

A few good points in 2021
- debt reduced by $4.3 million
- record membership again 60,000+ is within reach
- Net assets increasing, something that will climb further as debt is tackled
- Membership, sponsorship, merchandise and social club revenue up significantly.
- Revenue of $42million+ ($55million+ with redevelopment funding) is a strong sign of financial improvement from the past 20 years.

All KPI are improving and all things are on track to see the first significant generational future proofing of the club since the move to Moorabbin in 1965.
 

The_Wookie

Queenslander
Jul 2, 2010
34,848
32,677
Scamander
AFL Club
Carlton
I mean its been like pulling teeth for some vic clubs, but in 2-3 years, the entire Vic contingent will be debt free, its literally just the saints now. Then they just need to start coming off AFL support a little.

Imbalances in stadium deals and fixturing would still need to be fairly compensated for - or god forbid actually balanced so that compensation isnt necessary, but other assistance should drop off.
 

AstuteTiger

Premiership Player
Mar 22, 2009
3,989
7,044
Melbourne
AFL Club
Richmond
Richmond Football Club has reported an operating profit of $2,486,626 for the financial year ended 31 October 2021. The Club generated total income of $78,376,613


2021 Richmond Concise Financial Result
 
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dave10

Club Legend
Apr 26, 2004
2,965
1,946
Melbourne
AFL Club
Essendon
A strong consolidated profit. A couple of points.

The operating result strong and reflecting the flow on from another premiership, albeit with limited crowds. It’s football operating do hide a poor performance of its leisure business however.

Only watch out is the performance of their Leisure business. It generates ~$21M of its total revenue of $78M yet from what I can see, expenses relating to it were ~$24.8M. Therefore, it’s effort to diversify into this business as actually delivered a substantial loss on its operations of -$2.5M. The financials for this venture call into question the decision to pursue this revenue or at least requires explanation as to what’s driving it and how it will return to profitability. Correct me if I’m wrong?

They are cashed up with $28M which I gather will be required to fund their redevelopment of Punt Road precinct. They are probably one of few clubs needing (and wanting) to invest in their facilities to get them back on a par with the ‘leading’ clubs in this area.

Strong result overall.
 
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Kwality

Hall of Famer
Aug 14, 2011
35,463
13,261
Trafalgar
AFL Club
West Coast
Other Teams
Mclaren Mercedes F1
A strong consolidated profit. A couple of points.

The operating result strong and reflecting the flow on from another premiership, albeit with limited crowds. It’s football operating do hide a poor performance of its leisure business however.

Only watch out is the performance of their Leisure business. It generates ~$21M of its total revenue of $78M yet from what I can see, expenses relating to it were ~$24.8M. Therefore, it’s effort to diversify into this business as actually delivered a substantial loss on its operations of -$2.5M. The financials for this venture call into question the decision to pursue this revenue or at least requires explanation as to what’s driving it and how it will return to profitability. Correct me if I’m wrong?

They are cashed up with $28M which I gather will be required to fund their redevelopment of Punt Road precinct. They are probably one of few clubs needing (and wanting) to invest in their facilities to get them back on a par with the ‘leading’ clubs in this area.

Strong result overall.
'Concise financial report
The concise financial report does not contain all the disclosures required by the Australian Accounting Standards in the preparation of the financial report. Reading the concise financial report and the auditor’s report thereon, therefore, is not a substitute for reading the financial report and the auditor’s report thereon.'

Not across current Standards, nor am I suggesting there is anything to worry about. Perhaps someone who is across the implications of this Report can comment.
The $8mil prepayment was the only thing I noticed as unusual.
 

Prince Imperial

Club Legend
Apr 9, 2003
1,466
1,129
The Drill Hall
AFL Club
Western Bulldogs
Only watch out is the performance of their Leisure business. It generates ~$21M of its total revenue of $78M yet from what I can see, expenses relating to it were ~$24.8M. Therefore, it’s effort to diversify into this business as actually delivered a substantial loss on its operations of -$2.5M. The financials for this venture call into question the decision to pursue this revenue or at least requires explanation as to what’s driving it and how it will return to profitability. Correct me if I’m wrong?
I would guess that the actual loss in this area was lesser though as they also list separately that they received $3.7m in JobKeeper payments, some of which would relate to the leisure centres. How much I don't know.

Covid restrictions would have very much affected their operations in this space this year so they would hope to rebound strongly in 2022. I've followed their reports fairly closely in recent years and overall they have lost money from this pursuit. Obviously, they would hope this to change and they can well afford it.
 

Kwality

Hall of Famer
Aug 14, 2011
35,463
13,261
Trafalgar
AFL Club
West Coast
Other Teams
Mclaren Mercedes F1
Report not yet on website

Cashing in the pokies:
'The strong financial result was underpinned by the sale of The Brook gaming venue in November 2020, resulting in a gain on sale of $2.4 million.'

'The club now proudly has no direct revenues from all forms of gambling and gaming, and is focused on identifying new opportunities to substitute gaming revenues to ensure a sustainable operating model into the future, this includes expanding its investment in the health and fitness and hospitality industries through its award-winning Higher Mark business.'

:thumbsu: Cats.
 

Kwality

Hall of Famer
Aug 14, 2011
35,463
13,261
Trafalgar
AFL Club
West Coast
Other Teams
Mclaren Mercedes F1
Key points and clarification:

Total Profit of $8.2M includes donations and grants of $7.0M. Therefore the Operating Pr was $1.2M. However this $1.2M includes non cash expenses depreciation and amortisation of $3.8M. The ‘important’ takeaway is the club delivered a cash surplus for the year if $5.0M which was used to eliminate remaining debt incurred from building the $50M Hangar facility.

- Revenue of $56.6M (2020: $49.0M)
- Net Assets of $49.0M
- Membership 81,998

Likely to be one of the stronger financial results and club exits covid in stronger position than what it entered in.
How did the commercial/non footy operations fare ?
 

Kwality

Hall of Famer
Aug 14, 2011
35,463
13,261
Trafalgar
AFL Club
West Coast
Other Teams
Mclaren Mercedes F1
'In January 2021, with significant thanks to the fantastic support of Carlton members and key stakeholders, the Club was able to eliminate its remaining $4 million of historical debt – ensuring the Carlton Football Club is now debt free for the first time since 1996.'

Well done Blu'baggers. Next step is to get a kick in September.
 

dave10

Club Legend
Apr 26, 2004
2,965
1,946
Melbourne
AFL Club
Essendon
'In January 2021, with significant thanks to the fantastic support of Carlton members and key stakeholders, the Club was able to eliminate its remaining $4 million of historical debt – ensuring the Carlton Football Club is now debt free for the first time since 1996.'

Well done Blu'baggers. Next step is to get a kick in September.
One step at a time😄👍
 

Prince Imperial

Club Legend
Apr 9, 2003
1,466
1,129
The Drill Hall
AFL Club
Western Bulldogs
Its coming up soon, so time for a new thread.

Most clubs will report between mid november and the end of the year. AFL reports will come out some time in March.

As always Im grateful to everyone here on Bigfooty and on my twitter feed who has had meaningful contributions in these threads over the last few years. Folks like RussellEbertHandball, Prince Imperial, dave10, Rob have been invaluable with their input over the years, others have assisted with obtaining annual reports in the early years, and still others have assisted with constructive criticism and great questions, particularly Kwality lol

This has always been a colloborative effort. If you see something that is incorrect, please let me know so I can fix it.
Wookie, you might want to have a look at your St Kilda figures again (including revenue, net equity, AFL income etc) as they seem to not be consistent with their report.
 

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