Mark LoGiudice wrote:
Dear Donstuie
As a valued Carlton member, the Club is pleased to share with you first, the financial statements for 2019.
We are delighted to declare a final statutory net profit of $6,292,164 for the year ending 31 October 2019, an increase of $5,578,475 on the previous year.
Today’s announcement continues a significant period of growth for the Club, posting a net profit position for the third consecutive year and declaring a net underlying profit of $2,492,164, excluding government grants.
The Club’s financial results are reflective of a substantial year of revenue growth, with the Club securing a 15 per cent increase in membership. The contribution of the Carlton faithful saw the Club set a new record of 64,269 members – the biggest in the Blues’ 155-year history.
The Club reached an average home crowd of 46,730 in season 2019, compared to 31,775 in 2018, resulting in a 47 per cent increase in home crowd attendance – the biggest year-on-year growth in the AFL this season.
In line with our strategic plan, the Club continues to deliver on its commitment to repay its debt, with $2.4 million worth of historical debt being paid off in 2019. This figure was more than double what was originally forecasted and is an achievement the board and administration will continue to build on in 2020.
The Club also invested an additional $859,285 into its football departments across both its AFL and AFLW programs. On the back of the significant growth of the business, investment into football will once more be increased in 2020. The additional investment in the football department from 2018 - 2020 is proposed to be in excess of $4.5 million. This significant investment has been generated through the uplift in Club revenue.
Investment into the Master Plan of Ikon Park continued, which has now entered its final planning phase and will see the Carlton Football Club boast fully integrated, state-of-the-art facilities. The development will also incorporate upgraded match day facilities, an education hub and elite training facilities that will enable integration of our AFL, AFLW, VFL and VFLW programs. Pending final statutory government approvals, we will share these plans with you.
Non-traditional revenue streams continue to grow, with the Club’s investment into Carlton College of Sport proving a success in its inaugural year, along with Carlton IN Business – which already stands as one of biggest corporate networks in Australian sport – adding to the suite of corporate revenue achieved in 2019.
The Club’s commercial growth also continued this year, with co-majors Hyundai and Virgin Australia secured in long-term partnerships. In addition, the Club has solidified its commercial strength through key partnerships with La Trobe University, Ikon Services, MC Labour, Credit Union Australia, Grunt, Lincoln Indicators and Ontime Delivery Solutions.
Excitingly, new partnerships confirmed for 2020, including PUMA and Austbrokers continue to point towards further growth in the commercial area of the business.
To have achieved record membership and crowd attendance in season 2019 is something every Carlton member should be incredibly proud of. The combination of an effective and thorough business strategy and support from our loyal members across both our AFL and AFLW programs has no doubt been a significant factor in achieving a year of substantial growth for the Club.
As a Club, we remain committed to ensuring our strong financial performance improves in 2020 as we continue to focus on achieving sustained success for this football club, both on and off the field.
Lastly, a friendly reminder that we encourage all members to be involved in our member forum, which will be held online tonight at 5.30pm. Off the back of your incredible support in 2019, we now have more members than ever before. We want to give every single Carlton member, including those interstate and in rural areas, the opportunity to ask the questions that matter most to them about their football club.
Go Blues!
Mark LoGiudice
President, Carlton Football Club
Member ID: 1201017