St Kilda Football Club is pleased to confirm a series of positive financial results in publishing its 2022 Annual Report, headlined by record membership, sponsorship and a second consecutive year of debt reduction, taking a further $2.5 million of debt off the balance sheet.
The club achieved an operating profit before facility-funding revenue, depreciation, amortisation and interest of $1,228,704, and an overall statutory net profit of $9,445,261 for the year ending 31 October 2022.
The net assets of the club increased to $38.5m ($29m in 2021) due to the completion of Stage 1 works of the Danny Frawley Centre for Health and Wellbeing at RSEA Park, as well as the finalisation of oval development works undertaken in late 2021.
Corporate partnerships increased to record levels, with sponsorship revenue totalling $10.6m and all key assets being sold for 2022. The club also welcomed six new partners and saw continued investment from long-term sponsors including Dare Iced Coffee, RSEA Safety, Web Central. and co-principle and co-major for community, Pepper Money.
St Kilda’s membership total grew to a landmark milestone of 60,172 following an eight per cent growth on the 2021 membership number. The increase signals the club’s third consecutive year of record memberships, experiencing an overall increase of 40 per cent since 2019.
St Kilda Chief Executive Officer Simon Lethlean said the financial results were a product of a comprehensive, unified approach across the business, as well as continued loyalty and support from members, sponsors and donors.
Key elements of the club’s 2022 financial results:
- The club reduced its debt by a further $2,546,958
- A club operating profit before facility-funding revenue, depreciation, amortisation and interest of $1,228,704, and an overall statutory net profit of $9,445,261
- An eight per cent increase in membership, with a record total of 60,172
- Club-record sponsorship revenue of $10.6 million
- The net assets of the club increased to $38,512,690 from $29,067,429
- Revenue from the consumer businesses including membership, merchandise and fundraising grew by $1,643,766 compared to 2021
St Kilda have declared a profit of 9.445m on revenue of 62.758m for 2022 (inc 10.769m in Grnd Dev grant.
AFL var distro rose 1.2m to 7.865m, matchday & secondary markets rose 0.9m to 2.183m, Membership rose 0.5m to 8.665m, sponsorship rose 2m to 10.646m.https://t.co/gjgJvFz9KZ
— sportsindustry (@footyindustryAU) November 28, 2022