The Geelong Football Club has announced a net profit of $28,952 for the 2019 financial year. The Club’s operating profit before discontinued items, depreciation, amortization and asset gains was $2.6 million, compared to $1.8 million in the prior comparative year.
The results are built on an outstanding year of revenue growth, sound management of expenditure and investment into our future.
Key items contributing to the financial outcome include:
- Operating revenue increased by 7.2% to $60.2 million. Attributable to the increase was the following:
- Geelong Cats inaugural season participating in the AFL W competition and the club’s founding commercial partners in Ford Motor Company, Deakin University and Viva Energy
- Membership increase by 2% to 66,560
- Average AFL home attendance of 33,405
- Continued growth in the club’s award-winning Hospitality business Higher Mark
- Depreciation and amortisation expense of $3.39 million
“There are many factors that have contributed to this positive result. Having another strong season on-field, nine home games at GMHBA Stadium, membership growth and great support from our corporate partners were key to this result,” Geelong Cats chief executive Brian Cook said.
“We again had exceptional support from our members, with a record 66,768 passionate supporters signing on. We are anticipating a further increase in membership in 2020 to 70,000.
“There is continued strong investment in football, with a total outlay of $27.2 million across our men’s and women’s programs.
“The club also continued to invest in its women’s football program, with the club enjoying a successful debut season in AFLW, making it through to the preliminary final and enjoying strong home crowds.
“We are also committed to making a significant and meaningful difference in our community. The club invested significantly into its community programs in 2019, including the opening of the sensory zone at GMHBA Stadium, a first in Australian sport. We will again focus on our community impact in 2020 and beyond.
“The club continued to work towards an exit from gaming, and also took the step this year of not accepting any revenue from gambling advertising. We expect a complete exit in the next year which will enable the club to become debt free.
“We would like to thank our members for their continued support. There is an emotional and financial investment in being a member and we do not take it for granted. We will continue to strive to achieve our goals in 2020, both on and off the field.”
