The Essendon Football Club is pleased to announce an operating profit of $0.41 million for the year ending October 31 2024.
The club has consolidated on the significant changes made in the past two years and have returned to a position of profitability compared to an operating loss of ($0.58) million in the prior year. The healthy profit was driven by an 8.2% increase in revenue, which grew to $78.9 million.
This growth was largely attributed to strong attendance during the AFL season, resulting in record match receipts, as well as continued growth in membership contributions. At the same time, the club has invested further in its core football operations and made additional investments in the Hangar and Windy Hill facilities, leading to a 6.8% increase in expenses. Pleasingly, the club also reported a cash profit before depreciation and amortisation of $4.82 million.
The club has no bank borrowings and continues to hold a strong balance sheet, with net assets of $51.12 million. The club is in a solid financial position and is budgeting for further growth across key areas of the business in 2025.
To read the 2024 Annual Report, please click here.
