Official 2019 Annual Report

[Spoonman84]

The annual report has popped up online for anyone that hasn't seen it yet. It's not great reading on the financials but given the situation I doubt it's much of a surprise.

Sponsorship and corporate hospitality was down $1 526 652, season tickets and game day tickets was down $78 522 and merchandise down was $272 876.

Overall the club was in the hole for $4 474 518 of course this is all covered by the Leagues Club.


https://www.bulldogs.com.au/siteassets/documents/2020/2019-annual-report-final.pdf

 

[Natboy]

The annual report has popped up online for anyone that hasn't seen it yet. It's not great reading on the financials but given the situation I doubt it's much of a surprise. Sponsorship and corporate hospitality was down $1 526 652, season tickets and game day tickets were down $78522 and merchandise down $272 876.
Overall the club was in the hole for $4 474 000 of course this is all covered by the Leagues Club.


https://www.bulldogs.com.au/siteassets/documents/2020/2019-annual-report-final.pdf

Thanks mate. Not good is it.
Hopefully the corporates and fans come back to support the club and team soon which will no doubt bring sponsors too

 

[GDR]

Unfortunately dib and co, put the club into a downward spiral that has been very hard to redress. A lot of fans lost trust in the club (including myself) and they are still not sure if the club can be trusted again just yet..

 

[Scoooby]

Unfortunately dib and co, put the club into a downward spiral that has been very hard to redress. A lot of fans lost trust in the club (including myself) and they are still not sure if the club can be trusted again just yet..

Yes you make a good point. But we have to put trust in this lot an hope all goes well an we get back on track. And I believe we will.

 

[GDR]

Yes you make a good point. But we have to put trust in this lot an hope all goes well an we get back on track. And I believe we will.

I want to believe Scooby!! I really want to believe......

I intend buying a flexi game pass for the bankwest games this year.. lets start with that..

it would help if the merch was nicer also .. I'm really not a fan of any of the current jerseys ...

 

[D- voice]

I have said it many times...
Our football club's success is generated from our success on the field
For many years now fans have gotten sick of watching the most boring football in the league...(2012 is an exception)
Sponsors are fleeing and only the ones with special connections to the club or supporters of the team are staying loyal, things could have been slightly better if a certain degenerate board member (no name) didn't anger sponsors causing their defections
In reality this was a great club but remains to be seen if we do the right thing and reclaim that greatness !!!
Let's hope !!!

 

[Raysie]

Completely agree that on-field success is the only thing that will bring off-field success.

 

[c-b-b]

The stuff that happened off the field with Hasler and co pissed me off but I support the club and maintained my membership.

If we sold 1000 of the basic $50 memberships that would be small change but still reduce the fall from that side.

But I get it's an individual decision and each to their own with some cancelling memberships as a form of protest.

 

[Trafford10]

The annual report has popped up online for anyone that hasn't seen it yet. It's not great reading on the financials but given the situation I doubt it's much of a surprise.

Sponsorship and corporate hospitality was down $1 526 652, season tickets and game day tickets was down $78 522 and merchandise down was $272 876.

Overall the club was in the hole for $4 474 518 of course this is all covered by the Leagues Club.


https://www.bulldogs.com.au/siteassets/documents/2020/2019-annual-report-final.pdf

No that loss of $4,474,518 is the consolidated entity.
There is $15 million in depreciation so the leagues club is cash flow positive but there was a $9.5 million drop in profit the previous year and I see an additional $35 million in borrowings.
I am flat out on brief at the moment but will be interested in looking at the club's financials in more detail because the result for last year doesn't look good at the first quick glance.
Thanks for posting.

 

[Spoonman84]

No that loss of $4,474,518 is the consolidated entity.
There is $15 million in depreciation so the leagues club is cash flow positive but there was a $9.5 million drop in profit the previous year and I see an additional $35 million in borrowings.
I am flat out on brief at the moment but will be interested in looking at the club's financials in more detail because the result for last year doesn't look good at the first quick glance.
Thanks for posting.

Ah right let me know what you find because you sound like you know how to interpret the report much better then me.

 

[TwinTurbo]

No that loss of $4,474,518 is the consolidated entity.
There is $15 million in depreciation so the leagues club is cash flow positive but there was a $9.5 million drop in profit the previous year and I see an additional $35 million in borrowings.
I am flat out on brief at the moment but will be interested in looking at the club's financials in more detail because the result for last year doesn't look good at the first quick glance.
Thanks for posting.

I had a few minutes spare .........Cash isn't an issue, positive cashflow from operations was $10.4m and we repaid $7.8m in borrowings. Balance sheet wise we have $237m in asset and $61m in liabilities, = very strong. Operating revenue (inc other income) last year was $110.6m and this year $110.3m, hardly a drastic reduction, less than many other similar organisations in these economic conditions. Last year we made a profit of $5.2m, with $2.2m of that coming from sales of non current assets (property etc) plus this year there was an extra $3.7m in depreciation and $1.5m in financing costs, which together make up most of the difference between last year and this year's profit results.

FWIW, the movement in borrowings mentioned above was between current and non current, total last year was $48m this year is $40m (that's the repaid borrows as per above).

In summary, nothing to worry about.

Go Dogs

 

[albatross]

I'm no accountant but $175 million in net assets sounds pretty safe. Wouldn't mind knowing what the $200 odd million in property/plant/equipment and investment property is. Do we own Belmore?

 

[Dingo]

Rugby League is an expensive business, thank fuck we have a strong Leagues club behind us.

 

[2144superman]

No that loss of $4,474,518 is the consolidated entity.
There is $15 million in depreciation so the leagues club is cash flow positive but there was a $9.5 million drop in profit the previous year and I see an additional $35 million in borrowings.
I am flat out on brief at the moment but will be interested in looking at the club's financials in more detail because the result for last year doesn't look good at the first quick glance.
Thanks for posting.

Nice post mate, thanks for the insight . Would love to hear your take once you're able to get more detailed info.

 

[DinkumDog]

Finally had a chance to read through it.
I don't see anything alarming.
Revenue remains strong (despite across the board reduction in gaming across NSW), debt was managed accordingly - with some depreciation increased, likely to do with the league club renovations over the 2017/2018 period.
A net loss for the year but assuming revenue remains largely intact (ongoing lower interest rates will probably help this) and debt/depreciation reduced it should lead to a positive result for the 2020 FY.
We are in a strong position, much stronger than several competitive clubs in the NRL.

 

[Spoonman84]

The thing is from a overall point of view things are fine because the Leagues Club prints money but the actual Football Club numbers are very poor. Just because the Football Club has a sugar daddy in the Leageus Club shouldn’t be an excuse for poor performance.

 

[DinkumDog]

I'm no accountant but $175 million in net assets sounds pretty safe. Wouldn't mind knowing what the $200 odd million in property/plant/equipment and investment property is. Do we own Belmore?

As in BSG? No, not owned by the football club, we are just a tenant there. BSG is owned by Canterbury Council and the NSW Government.

 

[DinkumDog]

The thing is from a overall point of view things are fine because the Leagues Club prints money but the actual Football Club numbers are very poor. Just because the Football Club has a sugar daddy in the Leageus Club shouldn’t be an excuse for poor performance.

Improved financial performance from the footy club should come once the cap is repaired, squad managed accordingly, on field results improve, membership numbers increase, major sponsor comes back onboard etc.
The governance put in place to footy club operations by the current board should ensure no repeat of the previous mess so hopefully commensurate and ongoing financial performance improvement.
Yes, there is work to do, no denying that, but I'm sure the League Club sees that as well - a work in progress.

 

[Spoonman84]

Improved financial performance from the footy club should come once the cap is repaired, squad managed accordingly, on field results improve, membership numbers increase, major sponsor comes back onboard etc.
The governance put in place to footy club operations by the current board should ensure no repeat of the previous mess so hopefully commensurate and ongoing financial performance improvement.
Yes, there is work to do, no denying that, but I'm sure the League Club sees that as well - a work in progress.

Yeah I get that time is running out for those excuses while valid. It’s time for those in charge to cut their teeth and show us they are capable of getting things done even when things aren’t going their way.

 

[DinkumDog]

Yeah I get that time is running out for those excuses while valid. It’s time for those in charge to cut their teeth and show us they are capable of getting things done even when things aren’t going their way.

Excuses? I call it reality.
How is time running out? The football club board were just re-elected unopposed. If things were that bad a rival ticket would've formed.
In 18 months it will be fair to judge them - but not now - well that's my view anyway.