2021 Annual Report - Red & Black is in the Black

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image

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Might be some number fudging going on

Cash Profit before NEC Hangar grants and donations, depreciation and amortisation - $4,988,000

NEC Hangar grants and donations - $7,001,000

so in reality a loss of $2,013,000?

Ummm – did you write that wrong? $5M before grants and donations, $12M after?

(disregarding depreciation and amortisation)

Accounting never was my strong suit, I have no idea what the “real” profit as they have bundled up donations and government grants into the numbers

No mention of gaming revenue/profit

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i fixed it for them

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arguable it should read on and off field

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Well in good news about the medium term goal, our wheelchair side is in the Granny this Sunday against the Pies. Go Dons!

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Hard to argue it’s not an impressive financial result at least. $1.2m profit (before Hangar stuffs) and debt cleared is impressive after the last couple of years.

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Won’t stop the usual suspects from finding something to ■■■■■ about.

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Incorrect. No fudging.

Cash profit of $5.0M before deducting depreciation of $3.7M. Equals Operating Profit of $1.2M.

Then add donations of $7.0M. Total Prift is $8.2M.

The most important reflection of the clubs financial result is the $5.0M cash surplus. This is arrived at before accounting for on cash items like depreciation and the donations.

In effect, this $5.0M surplus was used to eliminate remaining bank debt.

Club now has a clean slate.

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Incorrect. Profit of $1.2m AFTER Hanger stuff.

No it’s not. I was saying $1.2m profit excluding Hangar donations. Not excluding Hangar costs.

Yay! Let’s celebrate the club making a cash surplus before we pay an increase in membership fees for 2022.

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I get it now. The Essendon Football Club is a “Company” now. We are all Essendon Football company Supporters, so, who are the shareholders?

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Looks like the CEO who does CEO things while people complain about him being CEO and doing CEO things on here has actually been doing well as CEO doing CEO things.

Great result. Onwards and upwards!

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Every full member is a shareholder, as it has ever been since the club was registered as a NFP corporation.

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We’re an NFP Corporation and yet we make a profit.

Fark, we can’t even do that right :stuck_out_tongue_closed_eyes:

An NFP retains the profits, does not disburse to shareholders.

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