News

Essendon announces operating profit

Monday, 21 November 2011
Staff writers for essendonfc.com.au
Page 1 of 1

Essendon Football Club today announced an operating profit of over $1,600,000 for the year ending 31 October 2011.

Essendon chief executive Ian Robson said a number of factors contributed to the turnaround after the club recorded a loss in 2010.

“Increased membership, strengthening of commercial partnerships and improved return on investments all contributed to the club’s positive result this year,” Robson said.

“The financial challenge is always to ensure continued profitability to allow the club to maintain investment in football department resources and it is pleasing to be able to achieve this outcome.

“The club is confident that the strategies we have put in place will continue to drive revenue growth across the business.”

Prior to the deduction of all non-cash items such as depreciation, the club generated a trading cash surplus of $3,400,000. The balance sheet net asset position now stands at $22.7 million.

“The financial position of the club is sound. However,the challenges facing the club next year are significant as we commence the construction and development of our new training and administration facility at Melbourne Airport,” Robson said.

Click here to view the 2011 Annual Report.

One Team. One Dream - Stand As One. Click here to purchase your 2012 membership today.

Your comments

Add your own comment now!

Username:
Password:
I've forgotten my details, please email them to me.

Your comment (must be 100 words or less):

Excellent work by the club administration. It is a direct result of bringing a new coaching team to the club which has excited all supporters and resulted in such a high membership this year. Success breeds success so if we can take another step up next year the balance sheet will look even better.

- Rob Carew (posted 21/11/2011 10:07:17 AM)

Great effort to all concerned, especially considering we have fought back from being in the red. Also, the cost of paying out Knight's contract and buying a coaching department doesn't come cheap. The club has doen well to turn the financial fortunes around.

- Wesley Hull (posted 21/11/2011 10:47:29 AM)

one word for the reason and that word is HIRD

- David Djurovitch (posted 21/11/2011 10:49:29 AM)

SEE THE BOMBERS FLY UP!!!

- Adrian Reynolds (posted 21/11/2011 11:42:56 AM)

No surprise.i have EVERY faith in the current administration.Have made some hard but correct decisions last 12 mths.Excellent news.this club is rock solid and heading for success on and off field.

- Mark Elze (posted 21/11/2011 11:47:39 AM)

Great result. This administration seems to be a very good one and able to make the hard calls as needed. The events with the coaching staff late last year were great for the club. I'd be surprised if there were any Essendon members who feel the same way as the media seemed to about the way it was done. EFC is not in the business of keeping all of their competitors happy ... it's about winning flags!!!

- Andrew Charlton (posted 21/11/2011 12:07:26 PM)

Good job Bomber Brigades!

- al Catraz (posted 21/11/2011 12:17:18 PM)

well done 2011 was the Year to remember with 50000 Members 4 the 1st time in our History looking 2 reach 60 in 2012

- MARK JONES (posted 21/11/2011 12:19:09 PM)

We need to use some of those dollars to secure Hurley,and sooner rather than later. If we lose him to GWS all of a sudden our decision in trade week on Caddy takes on a whole new perspective.

- Marc Atkins (posted 21/11/2011 12:42:49 PM)

GOOD,but can we do well in the draft and if available kavanagh,ross,and nelson would boost our midfield. Hope longy gets rookied and given another go and finally sign hurly up!

- Chris Steffen (posted 21/11/2011 1:15:33 PM)

I agree David, HIRD!!!

- Gerard Smith (posted 21/11/2011 1:48:04 PM)

With so many AFL clubs struggling financially, it's good news for us that our club has made a 1.6 million dollar profit. Our administration continues to appear to be very capable.

- Gordon Moss snr (posted 21/11/2011 2:14:12 PM)

Great management! Great result! Of course, bringing Hird in was a master stroke. The players we've got are being tutored properly. Now let us make sure we keep them in the future, albeit being careful with the salary cap. Go, Bombers!

- Joan Hill (posted 21/11/2011 4:49:55 PM)

Use the coin to sign hurley pleaseee

- Andrew Searle (posted 21/11/2011 4:51:08 PM)

I believe the man at the top who would have been under immense pressure and scrutiny from all angles last year deserves the accolades.Well done David Evans,hard decisions had to be made to correct some previous poor ones and amongst the critism you have stoodup with "flying colours",a turning point for this great club."Stand Tall."

- andrew bryce (posted 21/11/2011 7:07:12 PM)

Great result Bombers!!Let's get behind our great club & let the competition know the red & black army are in town.The most powerful club in the AFL are on the march.

- John Patrick Byrne (posted 21/11/2011 7:31:55 PM)

I have been an Essendon supporter my whole life having grown up in the Essendon area and have now decided to join up as a member in 2012 for the first time ever as I know James Hird will bring success to the club. Look forward to 2012 and being welcomed to this forum and the club. Karen.

- Karen Tempany (posted 21/11/2011 7:33:05 PM)

CONGRATULATIONS TO ALL CONCERNED, GREAT EFFORT. I AM SURE THE NEW COACHING PANEL IS A POSITIVE FOR THIS GREAT CLUB. ALL THE BEST FOR THURSDAYS DRAFT. ANNE. BRIAR HILL.

- anne aa (posted 21/11/2011 7:41:29 PM)

We are in good hands.

- Ralph Lepore (posted 22/11/2011 9:08:12 AM)

Firstly Congratulations to E.F.C. there is countless hard work gone into a result like this. Obviously this club is now in good, loyal, talented hands. Thank you for this achievement. SECONDLY: Welcome to Karen Tempany, I know you'll quickly see how good it is to "belong"to our great club. P.S. New Bomber magazine is brilliant. Great day today.

- Gail Taylor (posted 22/11/2011 9:24:05 AM)

Welcome Karen,enjoy putting on your first member's cap when it arrives :-) I remember well,a Karen T from Strathy Primary,the same school that Hutchy visited with other players on a school clinic.. Hutchy made me a Bomber for life.. Thank you Hutchy..Cheers All. Go Bombers :-) :-)

- Noel Shields (posted 22/11/2011 12:14:39 PM)

Well done to every single member of this Club, to all the staff, decision-makers, investors and sponsors, talented advisors and mentors. You have all contributed to the financial success of the EFC in 2011. I'm sure we will go from strength to strength from here on in! Congratulations all :) Angie

- Angeline Baron (posted 22/11/2011 9:57:11 PM)

Well said Angie.. once again :-) Can't help but be the Club that it is,with all those who you have mentioned,as well as our playing list who give their all each week,both sides of the fence all year round.. :-)

- Noel Shields (posted 22/11/2011 11:09:22 PM)

Prophet equals profit.

- Kris Bayne (posted 22/11/2011 11:56:09 PM)

nice 180 by those who questioned the finacnial wisdom of paying out the previous coaching regime. go bombers from success to success in 2012 and well done to all the true supporters who called for change.

- Bob Davies (posted 23/11/2011 11:55:38 AM)

Yawwhhnn.... You wouldn't think a legit sound could be heard from an old battered,scratched record,played with a damaged stylus,repeated and repeated, would be entertaining eh..well it isn't... Tell us,you gonna settle for that name for how long again??!! Change in the wind again eh ?..soon? Bet there’ll be no enlightening opinion to go with it.. you'll never learn bob... :-)

- Noel Shields (posted 23/11/2011 1:56:15 PM)

yaaawwwn indeed. don't worry egg scrapers are on sale this weekend!! go bombers now we are buiolding...BUILDING!!!

- Bob Davies (posted 25/11/2011 3:14:34 PM)

more little house stuff..yooorrrnn

- Noel Shields (posted 28/11/2011 1:47:38 PM)