Essendon Football Club is pleased to announce a net operating profit of $5.1 million for the 2017 financial year.
The Club’s operating cash surplus was $8.5 million, before amortisation and depreciation.
Total revenue generated by the Club was $65.2 million, an increase of $11.7 million year-on-year.
The financial comeback was due to a number of factors including record membership, increased match returns and stadium revenues, and enhanced commercial partnerships and corporate sponsorships.
CEO, Xavier Campbell, said the result is another important step forward for the Club.
“To record a profit of $5.1 million dollars this financial year is significant for everyone involved in our Club,” Campbell said.
“This has been a year of progress from both a football and financial perspective, and we have witnessed pleasing increases across several key areas of our operations which directly impacted our bottom line.
“Our exciting brand of football helped us achieve record membership of 67,768, increased match receipts with more than 1 million people attending Essendon games, and an increase in financial investment from our corporate partners and sponsors.
“On and off the field, the competition is more ruthless and competitive than ever, and we know we have to keep working harder and smarter and invest in the right areas of our Club.
“We will increase investment in our men’s and women’s football programs, community programs, Next Generation Academy zones and our people to ensure we make further progress toward our long term strategic objectives.
“In 2018 we will finalise plans for the new extension of our training facility at Melbourne Airport, to ensure state of the art resources for our football teams, and a venue our members and supporters will continue to be proud of.
“This season provides our teams, members and supporters with another exciting opportunity, and as a Club we have never been more unified or as strong to rise to the challenge which awaits.”
Key points of the 2017 financial result;
- Net Operating Profit - $5,054,186
- Total Revenue – $65,165,407
- Net Assets - $32,507,785
- Membership Tally – 67,768
- Cash Reserves – $2,036,791
To view the full 2017 Annual Report, click here