Hawthorn Football Club has recorded a net operating profit of $2.11 million ($2,107,556) for the financial year ending 31 October 2017.
Chief Operating Officer Tim Silvers attributed the strong financial result to the committed efforts of all involved at the Hawks.
“In a tough year on the field, the club is extremely fortunate to have the support of our loyal members, supporters and corporate partners” Silvers said.
“It is testament to the club’s effective business model and dedicated administration that we could post such a strong financial result in a challenging year.
“This year we broke the club’s membership record for the eleventh consecutive season, which is a significant achievement and reinforces the incredible support and passion we receive from our Hawthorn family.
“Our Tasmanian membership base grew yet again exceeding 9,000 for the second time in the club's history. The support of our 9,550 Tasmanian members is critical to the club.”
Silvers said the settlement of the Dingley site in April was a significant milestone for the club, with the purchase made at the end of an extensive due diligence period.
No debt funding was required, with the purchase being made through funds raised predominantly through the Hawthorn Football Club Foundation.
“The Dingley site will allow for the development of a world-class training and administrative facility which will provide greater prospects for member interaction, community engagement and future expansion,” Silvers said.
“The Foundation will continue to play an important role in funding the development as the club aims to complete the facility whilst remaining debt free.
“The next stage of capital fundraising is critical and the club is realistic about the financial challenges it will need to overcome before its vision of a world-class facility becomes a reality.
“Hawthorn continues to invest in the community both in Tasmania and on the mainland. A key highlight in 2017 was the expansion of the club’s major schools program ‘Looking After ME’ into Tasmanian primary schools. The program addresses issues relating to nutrition and physical activity and was delivered to over one-third of schools in its first year.”
Key points of the report:
● Club net operating profit of $2,107,556 for year ending 31 October 2017
● Achieved a record membership tally for the eleventh consecutive season
● 2017: 75,663 (2016: 75,351), including 9,550 Tasmanian members
● Gross merchandise revenue exceeded $1.8m
● Recorded an average attendance of 44,719 across seven Melbourne home games in 2017 (2016: 49,666). Season highlights included the Round 4 Easter Monday fixture against traditional rival Geelong (62,360) and the Round 23 fixture against the Western Bulldogs at Etihad which was Luke Hodge’s farewell game and drew a crowd of 48,090. The average attendance across four home games in Tasmania was 13,197
● The Hawthorn Football Club Foundation holds a balance of $4,688,572 in cash and investments as at 31 October 2017
● Hawthorn’s net asset position improved to $46.5m, up from $41.6m in 2016
● The club purchased a $7.75m 28-hectare site of land at Dingley, which was fully funded by club and Foundation cash funds. No debt funding was required for the purchase
● The club recorded gross revenues of $70,742,464 (consolidated) and $52,131,775 (club)
The 115th Annual General Meeting of Hawthorn Football Club Limited (“club”) will be held at the Hawthorn Arts Centre, 360 Burwood Rd, Hawthorn 3122 on Thursday 14 December 2017. The meeting will commence at 6:30pm.
