Essendon 2015 1.33million loss
Essendon Football Club has recorded a net loss of $1,336,354 for the 2015 financial year.
CEO, Xavier Campbell, said despite the loss, the Club was in a strong financial position.
“Our financial loss this year is the result of a number of unforeseen costs to the business,” Campbell said.“The loss includes a combination of abnormal costs associated with the ASADA/WADA issue and the impact of a disappointing season on the field.”“Pleasingly, despite the unique circumstances we have faced this year, we remain in a strong financial position.”Campbell said the Club’s cash flow, return from its venues, and record membership made for a positive outlook in 2016.“Importantly, we have a healthy cash profit through operations of nearly two million dollars,” Campbell said
Key Points of 2015 Financial Result
Net Assets: $37,278,974
Total Revenue: $58,202,992
Earnings before depreciation and amortisation (cash profit): $1,958,537
Membership Tally: 60,819 (New Club record)
