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Proud Pies 
Joined: 22 Feb 2003
Location: Knox-ish
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| Post subject: 2014 Financial Result |  |
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| Quote: | 2014 Financial Result
The Collingwood Football Club today announced a net profit of $2,017,992 for the financial year ending October 31, 2014.
The result is the 14th consecutive profit Collingwood has recorded and was largely generated off the back of record membership of over 80,000 (80,793) – a new club and AFL record. The club carries no debt and its net asset position sits at $37,085,589.
Collingwood president Eddie McGuire said the profit reflected the all-important contribution members make and years of strategic planning and work to create a football club capable of standing on its own two feet, year after year.
“I’m very proud. Our members continue to stand behind their football club and never has that support been more important because every cent comes back to Collingwood. Membership is the only area the AFL can’t touch,” McGuire said.
“We exist in an increasingly difficult environment and in that environment we remain not only independent and in control of our future but prosperous, able to uphold, through the many philanthropic causes we support and serve, our commitment to the greater social good.
“The need to be financially healthy and independent is a must. We know that to provide our players, coaches and staff with the best opportunities to succeed we must continue to invest wisely and to do that, on our terms, we must continue to produce results like the one we produced this year.”
“Without outstanding support from our members and corporate partners, and strong leadership, things could have been very different.”
Collingwood chief executive Gary Pert said the result would enable the club to continue to invest in the football program and ways in which it can provide better experiences and create more value for members.
“This is a very strong result created in the face of some significant challenges,” Pert said.
“We didn’t play finals and the consequences of an experimental fixture had a considerable impact on us and yet we remained profitable and robust, which is really significant because our investment in the club’s two key stakeholders, the players and fans, has to continue.
“We became a more efficient operation in 2014. This streamlining, coupled with the invaluable support of our members and corporate partners, meant we were able to continue to strengthen our football program.
“While we have had to address the impact of the AFL’s recently introduced football department spending cap, we have been able to bolster the program in the areas of player welfare and skill acquisition.
“Our commitment to improving our service and returns to members has also been able to grow, with a further investment in the relationship through the club’s own media channels planned.
“This is a result that demonstrates how important it is to be strong off the field so that you can be strong on it.”
The Collingwood annual general meeting for the 2014 season will be held on February 12, 2015, at Melbourne Park. Full details of the AGM will be communicated to members.
Highlights of Collingwood’s 2014 financial year include:
Net operating profit of $2,017,992
Total revenue of $76,819,714
Record membership figure of 80,793
Collingwood’s net asset position sits at $37,085,589
Collingwood carries no debt
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Jacqui © Proud Pies 2003 and beyond |
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Skids 
Quitting drinking will be one of the best choices you make in your life.
Joined: 11 Sep 2007
Location: Joined 3/6/02 . Member #175
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a good place to be!
maybe we should try the race horse syndicate thing again ... remember that? Did any of those nags do anything?
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Don't count the days, make the days count. |
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hot pie 
Joined: 28 Mar 2004
Location: Buderim Queensland
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| 2.6% profit from 76 Million dollars in revenue, not a great result me thinks, when you invest in hotels pokies etc, this is a business not just a club |
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dillo_09
Joined: 15 Apr 2001
Location: Whittington
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In the traditional corporate world, after paying dividends, re-investment and all expenses if you hit 4% net profit, everyone is happy. So assume we get what the club says we missed on the scum game and we are close-ish to that mark.
Whilst the CFC is a business these days, it is my understanding that we are essentially a not for profit organisation in that we are not really allowed to make massive amounts of profit (ie % of revenue). A tax guru could clarify that better.
Also, don't forget we didn't make the finals and receive all the extra benefits and profits that come with that.
Would be the best result of any club that didn't play finals and will beat many that did make the finals. |
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Culprit
Joined: 06 Feb 2003
Location: Port Melbourne
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| As a shareholder I would suggest that a net Profit of $2,017,992 is VERY disappointing considering the turnover and assets. Obviously no dividend this year. |
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Darkstranger
Joined: 06 Jun 2012
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| I disagree, considering where we finished and what Dorkhorn made, fair result. |
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WhyPhilWhy?
WhyPhilWhy?
Joined: 09 Oct 2001
Location: Location: Location:
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| Culprit, the inference is that the dividend is in the low increase of the membership fee. |
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perthmagpie 
Joined: 27 Mar 2004
Location: Yarrawonga
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The operating profit was 5 million $ before depreciation on the Westpac Centre of 3 million $. I don't know how that depreciation figure compares to last year but it is substantial.
I like that we are debt free, don't include grants in our profit figures and have dealt with all our write downs quickly in the past couple years. I haven't seen these latest accounts so I am interested in how much of our net assets are in cash or can easily be converted to cash if we wanted to do something creative or challenging in the future. We are in an excellent position and should be in better shape after next year's fixture and another year of paying no interest.
Well done to all the staff in admin and finance!
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Magpies love pies(Lol) |
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jackcass
Joined: 01 Mar 2005
Location: Bendigo
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| Culprit wrote: | | As a shareholder I would suggest that a net Profit of $2,017,992 is VERY disappointing considering the turnover and assets. Obviously no dividend this year. |
Factor in asset appreciation via investment in the training facility upgrade and expansion, and it's not a bad result. |
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jackcass
Joined: 01 Mar 2005
Location: Bendigo
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| perthmagpie wrote: | The operating profit was 5 million $ before depreciation on the Westpac Centre of 3 million $. I don't know how that depreciation figure compares to last year but it is substantial.
I like that we are debt free, don't include grants in our profit figures and have dealt with all our write downs quickly in the past couple years. I haven't seen these latest accounts so I am interested in how much of our net assets are in cash or can easily be converted to cash if we wanted to do something creative or challenging in the future. We are in an excellent position and should be in better shape after next year's fixture and another year of paying no interest.
Well done to all the staff in admin and finance! |
I thought from my reading of the story that the $3M figure being thrown about is actually what the club spent on the training facility upgrade and expansion, not depreciation. |
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Jezza 
2023 PREMIERS!
Joined: 06 Sep 2010
Location: Ponsford End
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We're in a good financial state overall. Sure our net operating profit wasn't extremely high this year in contrast to last year which was about five million dollars from memory but considering the obstacles we've had such as poor scheduling (playing Carlton on Sunday night and twilight games) and missing the finals for the first time since 2005 I don't think this is a bad result at all.
The club is still in a very healthy position to push on into the future and the biggest smile on my face is seeing that we have no debt at the present time. Put it this way we're in a far better position than someone like Port Adelaide who had a great year on and off the field and yet still posted a $2,000,000 loss last week.
Well done to everyone involved and let's keep backing this club as members and supporters!
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| 1902 | 1903 | 1910 | 1917 | 1919 | 1927 | 1928 | 1929 | 1930 | 1935 | 1936 | 1953 | 1958 | 1990 | 2010 | 2023 | |
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Hiss
Joined: 09 Jul 2003
Location: Geelong
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Great result and congratulations to the Board. Those saying we have not made more Profit are greedy and anti Collingwood. If our Board makes more profit it comes out of the members pocket. The Club is not wanting to rip members off and we should be pleased. Stop being a right wing capitalist grub calling for more greed at the expense of working class members.
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I love this club and I hold anyone in contempt who does not think it is worth fighting for. |
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Monco Matt
Do it to THEM before THEY do it to YOU
Joined: 28 Apr 2009
Location: Sittin, Drinkin, Reloadin & Waitin
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can we buy Danger and a flag now?
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RED "BABY" CAVANAUGH: Didn't hear what the bet was.
MONCO: Your life. |
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CarringbushCigar
Joined: 15 Nov 2007
Location: wherever I lay my beanie
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Every year we dont have a property or pub disaster and can add 2mill to a conservative asset base is good news.
Congrats off field team. |
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Member 7167 
"What Good Fortune For Governments That The People Do Not Think" - Adolf Hitler.
Joined: 18 Dec 2008
Location: The Collibran Hideout
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When you compare us to the basket cases of the AFL we are looking fantastic.
The A'ints are in debt for just under $10m. Swans, Port, GWS, Suns, Lions and quite a few other clubs are loosing money each and every year. This is despite the funds pumped into the clubs by the AFL that totalled just under $210m in 2013. Dimmy loved to wear his corporate hat and was all about income and equalisation. When considering the financial situation of some clubs you would have to think he was a failure in this respect. If it wasn't for the TV rights the AFL would not exist.
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Now Retired - Every Day Is A Saturday |
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