Analysis St Kilda FC Financial Results - 2019

George

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The St Kilda Football Club has posted an overall accounting net profit of $2,462,880 for the year ending October 31 2019, while increasing total net assets to $17,220,691 (2018: $14,757,811).



Think we need Joffaboy or dct66 or anyone else better versed in financials to dissect it.


Good to see a profit, for what it's worth.
 

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jwikked

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The club was preparing to post an operating profit of $383,208 before making some recent decisions on the timing of player injury and contract payments over the 2019 and 2020 financial years.

As a result of bringing forward payments from 2020 to 2019, the club posted a loss of $323,975 before interest, tax and depreciation (EBITDA).

St Kilda’s overall accounting net profit includes Moorabbin Reserve grant-funding revenue of $4,997,789, depreciation and amortisation expenses of $1,918,719.
Interesting

St Kilda’s sponsorship-related profit rose by $0.75m with the addition of several key sponsors, and the opportunity presented by playing in Shanghai.
Wasn't that supposed to be $1 Million or more?

The total match return, including China, boosted total net match return profit to $1,942,767 (2018: $1,691,324).
$250,000 boost thanks to China. Obviously it's not exact because I'm not taking into account the lower crowds for the year.
 

saint66au

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I like how they put the "2.4m profit" right at the start of the press release, in the hop that the media see that and run with it.

Nothing in that article about how much our current debt is..
 

Joffaboy

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I like how they put the "2.4m profit" right at the start of the press release, in the hop that the media see that and run with it.

Nothing in that article about how much our current debt is..
Dont worry about debt, its only one side of the Balance Sheet, look at both Assets and Liabilities, current and non current, and contingent's.

Debt is the biggest furphy going.

This is where the P&L is useful. A profit would indicate we can service our debts.

2.4 profit . Could get that to 4 or down to 1 in about 15 minutes.

Profit and Loss is the biggest joke in Accounting.

Bal Sheet and cash flow is the best indicator.
 

sunny3193

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Sep 28, 2016
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Dont worry about debt, its only one side of the Balance Sheet, look at both Assets and Liabilities, current and non current, and contingent's.

Debt is the biggest furphy going.

This is where the P&L is useful. A profit would indicate we can service our debts.

2.4 profit . Could get that to 4 or down to 1 in about 15 minutes.

Profit and Loss is the biggest joke in Accounting.

Bal Sheet and cash flow is the best indicator.
Unfortunately the Cashflow Statement is not as useful in the AFL environment c/w the real world as it can be materially affected by SC% paid.
And that last number is a closely held commercial secret.
So, rule of thumb: take the Cashflow Statement +/- $1mill depending on your SC estimate/guess.
 

Pakenhamsaint

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Social Club: The Moorabbin Social venue generated a profit of $618,685 for the year compared to $1,337,055 last year. The 2018 result includes a sign on contribution and resultant sale of assets to Tabcorp Gaming Services.
Does that mean we sold our Pokies?
 

Pakenhamsaint

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Interesting



Wasn't that supposed to be $1 Million or more?



$250,000 boost thanks to China. Obviously it's not exact because I'm not taking into account the lower crowds for the year.
It's not that big for China at least game wise Page 14 has it at $111,945.
 

Joffaboy

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Unfortunately the Cashflow Statement is not as useful in the AFL environment c/w the real world as it can be materially affected by SC% paid.
And that last number is a closely held commercial secret.
So, rule of thumb: take the Cashflow Statement +/- $1mill depending on your SC estimate/guess.
True, but it is still a better indicator of organisational financial health than a P&L or cherry picking bits of The Bal Sheet.

Just saying dont shoot your wad over 'profit' or top yourself over 'loss'.

It works though for the unwashed hoards who think profit means money . Hence the headline.
 

saint66au

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George

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This is why I get someone to do my taxes lol


Doesnt the financial year end on June 30th? We paid out Paddy and Rice for 2020 before we even knew we'd be delisting them?
They are going by the AFL year I'd say. AFL contracts end on October 31st each year.
 

sunny3193

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They are going by the AFL year I'd say. AFL contracts end on October 31st each year.
According to the press release:
There’s a $700k turnaround b/w what they were going to declare and what ended up being declared.
From a $300k+ profit to a $300k+ loss.
Apparently due to moving FY2020 applicable salaries into FY2019.
Sounds like part of that would be paying out Paddy Mc.
Though why the need to even mention this (thus highlighting it), is beyond me.
 

CursingFijian

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True, but it is still a better indicator of organisational financial health than a P&L or cherry picking bits of The Bal Sheet.

Just saying dont shoot your wad over 'profit' or top yourself over 'loss'.

It works though for the unwashed hoards who think profit means money . Hence the headline.
The unwashed always get their mark.
 

NeXus Nick

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Jan 28, 2014
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Our debt isn’t $12mill.
But if you mean the $12mill Current Liability excess over Current Assets, then the answer is none.
I think your wrong Sunny. St Kilda said last year that they have a debt of $12Mill. They did not say it was just a liability. It was a DEBT. For me this is very concerning.
 

sunny3193

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I think your wrong Sunny. St Kilda said last year that they have a debt of $12Mill. They did not say it was just a liability. It was a DEBT. For me this is very concerning.
I suggest you read the 2019 Financial Statement (which is the year ending 31 October 2019).
It is available on the Saints website.
If you do, you will know exactly what the “debt” is.
But my original answer stands: there’s been no change year on year.
 

ScrappyDo

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Ahh the post draft - pre Christmas financial reports season.
I'd honestly forgotten the thrill of it all.
I pitty those poor fools in their Lexus' and various European 7 seat sports estates, glibly leafing through the P&L statements from their "successful" club with yet another boring year in the black!!!
They'll never know the smell of the wild free air, or the real taste of honest working man's food!!
















 

plugger66

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Dont worry about debt, its only one side of the Balance Sheet, look at both Assets and Liabilities, current and non current, and contingent's.

Debt is the biggest furphy going.

This is where the P&L is useful. A profit would indicate we can service our debts.

2.4 profit . Could get that to 4 or down to 1 in about 15 minutes.

Profit and Loss is the biggest joke in Accounting.

Bal Sheet and cash flow is the best indicator.
We count a facility that is worth zero to anyone but us as an asset. I think premierships show that profits are very important.

The one thing I will say is at the moment being in huge debt doesn’t matter whilst the afl want all the clubs but in the long run it’s better to have little debt if they do decide they don’t want all the clubs. It would be nice to actually eat into the debt.
 
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