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.
“The generosity and support of our members is something that is praised year on year, and 2022 was no different,” Lethean said.
“On behalf of the entire club, I would like to thank each and every one of our members for their support across the year. Without them, we would not continue to see the positive growth across the club which has seen it vastly improve its financial position over the past five years.
“Likewise, the commitment of our sponsors has played a major part in our off-field position, with club-record revenue of $10.6 million generated through our partners in 2022. We can’t thank our sponsors enough for their steadfast commitment to the Saints.
“To pay off another significant portion of our debt is pleasing, and while early days, our forecast for next year indicates that through the ongoing support of members, partners, donors and various other key stakeholders, it is a trend that we expect to continue to see in 2023 and beyond.
“The growth and integration of the Danny Frawley Centre is another area of our business that will continue to evolve, with more and more people utilising its services and facilities. With Stage 2C of construction nearly complete, we look forward to welcoming even more people to enjoy everything the centre has to offer.”
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
