Analysis AFC finances - Rich Club, Port Club?

1970crow

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I got to this bit, and my brain said, "until learned individuals on this board have gone over the financial statements"

and then



and this was slightly less personally fulfilling, but way, way funnier
Can you post the financials when you get a chance? I’ve got an ‘Andrew Fagan, I was wrong’ thread to create, but I just need to make sure there’s nothing to suggest that footy profit was up by a bigger amount than our improved result. Last year’s format was pretty good.
 

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mistylake

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Wont be going. Got to wash my hair.....


The best part about today is when we release the financial result and learn all about accounting from the Port Board.

It is like a CPA event.

Sent from my SM-G930F using Tapatalk
Washing hair is looking mighty sexy compared with this thread. ;)
 

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600k drop in revenue from in store merch and 40k from match day is mental!
But it would appear the new structure with merchandising (with Rebel Sport running Crowmania) is costing us $200K a year.

2016 merch income - 391K
2017 merch income - 385K
2018 merch income - 158K
 

deaneus

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Thread starter Moderator #170
netrevenues.PNG


Revenues! Looks like we maxed out tickets and there's nowhere to go at the minute, unless we change prices. Sponsorship up $1.4M, AFL revenue down by $466K, corporate boxes up $134K (that's about one box, lol). Revenue up 2.06% from last year, but this wouldn't have the impact of Optus, so that will be interesting to see in next year's accounts.

Government obviously believe we're doing good, with our grant for Ready Steady Crow up.

Merchandise, WTF? Net revenue for merch down $258K, that's a lot of guernseys! Plus, the gross margin dropped significantly, which it shouldn't do. Something's happening here (refer below) ;)

Net revenues up $1.1M

expenses.PNG


Not much i can say here. Ups and down depending on the categories - i will note that admin is down $468K, but the employee benefits are up - I presume that's where the salary cap goes, so not surprising either.

Net expenses up $709K. Net profit $3.8M, yes please.

bs.PNG


Well, there's nothing quite like a healthy cash balance. Trade receivables pretty unchanged.

No inventories? Interesting. When you look up the note, it says provision for obsolence.

Yes, that's right.

You know what that means.

You can feel it right?

Check this out:

When your merchandise returns drop by half, it's because the line of stock you have is tired. Then you write off all the stock, because you have to replace it with something new and exciting.

THAT'S RIGHT MOTHER******S, WE'RE GETTING A NEW LOGO

and that's not even the coolest thing in here. This is a very interesting report, very interesting.

And there's even an "error". **** me. I'll have to send an email and ask. Will get onto it later. Wow.
 

Tex Danger

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View attachment 631311

Revenues! Looks like we maxed out tickets and there's nowhere to go at the minute, unless we change prices. Sponsorship up $1.4M, AFL revenue down by $466K, corporate boxes up $134K (that's about one box, lol). Revenue up 2.06% from last year, but this wouldn't have the impact of Optus, so that will be interesting to see in next year's accounts.

Government obviously believe we're doing good, with our grant for Ready Steady Crow up.

Merchandise, WTF? Net revenue for merch down $258K, that's a lot of guernseys! Plus, the gross margin dropped significantly, which it shouldn't do. Something's happening here (refer below) ;)

Net revenues up $1.1M

View attachment 631310

Not much i can say here. Ups and down depending on the categories - i will note that admin is down $468K, but the employee benefits are up - I presume that's where the salary cap goes, so not surprising either.

Net expenses up $709K. Net profit $3.8M, yes please.

View attachment 631309

Well, there's nothing quite like a healthy cash balance. Trade receivables pretty unchanged.

No inventories? Interesting. When you look up the note, it says provision for obsolence.

Yes, that's right.

You know what that means.

You can feel it right?

Check this out:

When your merchandise returns drop by half, it's because the line of stock you have is tired. Then you write off all the stock, because you have to replace it with something new and exciting.

THAT'S RIGHT MOTHER******S, WE'RE GETTING A NEW LOGO

and that's not even the coolest thing in here. This is a very interesting report, very interesting.

And there's even an "error". **** me. I'll have to send an email and ask. Will get onto it later. Wow.
Great job.

On your new logo, writing off held stock link...
Could it be that as part of the change from managing Crowmania to Rebel Sport taking it over we no longer hold the stock so is accounted for due to that handover?

I have no idea, not my field but seems logical depending on th timeline of that?
 

deaneus

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Thread starter Moderator #172
Great job.

On your new logo, writing off held stock link...
Could it be that as part of the change from managing Crowmania to Rebel Sport taking it over we no longer hold the stock so is accounted for due to that handover?

I have no idea, not my field but seems logical depending on th timeline of that?
It probably is, but it’s way more fun to speculate wildly, and I needed something to make me smile today.

The odd thing is, if we gave all the merch to Rebel Sport, then yeah we’d have no inventory, but the note to the accounts says “obsolescence” which is a very odd note to use for inventory like we have.
 

deaneus

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Thread starter Moderator #173
Actually the wrote off of all the stock would explain the drop in gross margin too.

Doesn’t explain the drop in sales though?
 

Tex Danger

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It probably is, but it’s way more fun to speculate wildly, and I needed something to make me smile today.

The odd thing is, if we gave all the merch to Rebel Sport, then yeah we’d have no inventory, but the note to the accounts says “obsolescence” which is a very odd note to use for inventory like we have.
Any indication from the money flow as to how that arrangement with rebel may work?
no obvious sign of them buying our the business as such is there? Just a downturn in our income. Unless we wrote off our existing stock for some reason, that equates to the downturn and then an expectation that from next year that should return to something around normal (or at least balancing out with the reduction in administrative expenses).

Also are you able to glean any impact at all in there from the baseball / esports?
 

Scorpus

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So it's safe to say we generated no more than $800k in revenue from our esports and baseball ventures assuming they are included in the "sundry income"

Naturally there is no breakdown on what those elements are costing us
 
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