Geelong have declared a comprehensive profit of 1.639m for 2022 on revenue of 65.239m
The strong financial result was underpinned by the AFL Premiership success and crowds returning to the football in season 2022. Most pleasing was the on-going commitment of the Club’s loyal members, commercial partners and Community Challenge donors during season 2022.
As a result, the Club is debt free and has $4.9 million cash balance as at 31 October 2022. The Board and Management continues to focus on strengthening the Club balance sheet to ensure the long-term sustainability of the Football Club. Proudly, the Club continues to have no direct financial contribution from any form of gambling or gaming.
The Club would like to acknowledge the continued support of the State Government with its funding commitment to complete stage five at GMHBA Stadium and the Club’s ongoing partnership with the Kardinia Park Stadium Trust. The completion of stage five is expected to be mid 2023, increasing the stadium capacity to 40,000 and delivering a range of new offerings that will enhance the members and supporters experience.
A snapshot of Geelong’s financial year include:
- Operating revenue increased by 30.0% to $62.2 million. Key highlights from the results included:
- A record breaking 71,943 Geelong members and 5,938 AFLW members
- Sponsorship and advertising revenues $14.5m compared to $12.3m in the prior year. We acknowledge the ongoing support of our major partner Ford and other principal partners GMHBA, Cotton On, Deakin University, Simmonds Homes and Morris Finance;
- Merchandise revenues of $3.7 million compared to $1.7 million in the prior year;
- Strong recovery of the Club’s Food and Beverage business Higher Mark, generating $7.6 million in revenue compared to $3.4 million in the prior year; and
- Depreciation and amortisation expense of $2.9 million
Geelong have declared a comprehensive profit of 1.639m for 2022 on revenue of 65.239m
Food&Bev rose 2.8m to 7.6m, Members/gate rose 2.3m to 19.6m, while marketing revenue rose 2.2m to 14.496m.https://t.co/TOkFQex05h
— sportsindustry (@footyindustryAU) November 28, 2022
