Official Club Stuff 2024 Financial Results & Annual Report

[Aphrodite]

Carlton announces 2024 financial result

The Carlton Football Club has released its 2024 Annual Report.

www.carltonfc.com.au

2024 Annual Report Link (pdf)

https://resources.carltonfc.com.au/aflc-carl/document/2024/12/04/bf8ec460-869b-4d63-b7c8-772baebb37c0/1147-FIN-2024-Annual-Report-FINAL.pdf

 

[slashin_velvet]

Some thought bubbles:

• Revenue up materially - largely driven by increased membership and gate revenue (attendance based)
• The club is not for profit, but is establishing a strong net asset position so it will be able to weather future downturns
• Unfortunately we haven't been able to translate the improved revenue into improved profitability - this is driven by staff costs - and more importantly, the staff costs are not from "KMP" roles (therefore it has to be either player or football department based)
• The Salary cap went up roughly $750k, so this explains a portion of the increase
• The likely driver of additional cost stems from other football department costs
• The salary cap is set to increase by circa $2m next year and whilst we can sustain that based on current revenue, this revenue level is unlikely to be sustainable in the longer term

 

[teagueyubeauty]

Medical centre and imaging devices would be costing a motza no doubt, how will the minnow clubs like Norf afford an extra [emoji639] mill in the salary cap if our current revenues won’t suffice?



Sent from my iPhone using BigFooty.com

 

[BigFrizz36]

Some thought bubbles:

• Revenue up materially - largely driven by increased membership and gate revenue (attendance based)
• The club is not for profit, but is establishing a strong net asset position so it will be able to weather future downturns
• Unfortunately we haven't been able to translate the improved revenue into improved profitability - this is driven by staff costs - and more importantly, the staff costs are not from "KMP" roles (therefore it has to be either player or football department based)
• The Salary cap went up roughly $750k, so this explains a portion of the increase
• The likely driver of additional cost stems from other football department costs
• The salary cap is set to increase by circa $2m next year and whilst we can sustain that based on current revenue, this revenue level is unlikely to be sustainable in the longer term

Isn't the salary cap pretty much funded by the AFL club distribution. I also thought that the salary cap increase is to be covered by an increased afl
club distribution which will be covered by the massive increase in the afl media deal that kicks in next year?

 

[slashin_velvet]

Isn't the salary cap pretty much funded by the AFL club distribution. I also thought that the salary cap increase is to be covered by an increased afl
club distribution which will be covered by the massive increase in the afl media deal that kicks in next year?

That's a great point - we didn't experience that this year with our "AFL income" decreasing by circa $200k whilst the salary cap increased by $750k.

That being said, our higher football department spend, probably increased our soft cap contributions which would have offset some of the increases we otherwise may have received.

 

[BigFrizz36]

That's a great point - we didn't experience that this year with our "AFL income" decreasing by circa $200k whilst the salary cap increased by $750k.

That being said, our higher football department spend, probably increased our soft cap contributions which would have offset some of the increases we otherwise may have received.

I'm sure that I read somewhere that our actual profit was above $7mill but we were able to offset that with a lot of depreciation, amortisation and statutory charges etc.

Haven't actually seen the figures though to confirm that.

 

[slashin_velvet]

I'm sure that I read somewhere that our actual profit was above $7mill but we were able to offset that with a lot of depreciation, amortisation and statutory charges etc.

Haven't actually seen the figures though to confirm that.

Finance costs were $1.4m
D&A were $8.9m
Of these two add backs, about $4.0m is related to leases (the aasb16 standard makes the statements misleading) and $0.3m is genuine finance costs related to pokies. So in theory you could do:

• $3.0 stat profit
• then add back $1.4 and $8.9
• less $4.0 for leases and $0.3m for pokies
• proxy for real underlying profit of $9.0m

Importantly, these are directionally aligned with the amounts in prior years. Obviously the costs of interest/financing has had an impact in the current year

Net cash increase was $7.9m (so it's directionally aligned)

None of this takes away from my main point which is that we've had increased revenue which has been spent on the football department, and resulted in lower net profit year on year.

 

[The_Wookie]

There was a time when the club was very close to closing its doors after the big salary cap scandal in 2002, today we look at the clubs reports since 2007 to see where the club is at now and how it got there.

Membership seems unaffected by the Blues lack of success.

Attendances indicate that hope springs eternal for Blues supporters.

In line with this increase of support, Revenue has skyrocketed

Since 2007, Carlton has reported comprehensive profit of 70m – 60m due to Grants (see below), but still not bad for a club that was almost broke around the turn of the century.

Carlton has received more than $60m in Grants for Princes Park since 2007, 42m since 2019.

As you would expect with increased attendance and memberships, associated revenue also rose significantly – Carltons membership/Gate revenues in 2007 were just 6m, now more than 26m in 2024

The Blues have received more than 200m from the league since 2007 – mostly the base, plus income from ground arrangements and centralised incomes.

Sadly, the Blues have taken 213m in revenue at their Pokie venues from Victorians – 17.75m a year on average. Theyve spent 164m operating 290 machines, profiting 48m at an average of 4m a year since 2013 ( but rather more so in the post covid era)

Carltons sponsor revenue is also up in a big way from 7 million to almost 20 million last year – although it broke 20 million in 2023

Refeences:

• Carlton data table 2007-2024

Annual Reports

Carlton Football Club Annual Reports

Cons	2008	2009	2010	2011	2012	2013
2014	2015	2016	2017	2018	2019	2020 (issu)
2021	2022	2023	2024

No flag for 30 years, but off field going much better than the team has performed at Carlton - SportsIndustryAU

Time to look at the data in the hapless Blues Annual Reports

footyindustry.com