The Essendon Football Club is pleased to announce an operating profit of $0.41 million for the year ending October 31 2024.

The club has consolidated on the significant changes made in the past two years and have returned to a position of profitability compared to an operating loss of ($0.58) million in the prior year. The healthy profit was driven by an 8.2% increase in revenue, which grew to $78.9 million.

This growth was largely attributed to strong attendance during the AFL season, resulting in record match receipts, as well as continued growth in membership contributions. At the same time, the club has invested further in its core football operations and made additional investments in the Hangar and Windy Hill facilities, leading to a 6.8% increase in expenses. Pleasingly, the club also reported a cash profit before depreciation and amortisation of $4.82 million.

The club has no bank borrowings and continues to hold a strong balance sheet, with net assets of $51.12 million. The club is in a solid financial position and is budgeting for further growth across key areas of the business in 2025. Our strength as a club is underpinned by the incredible support of Essendon’s members and supporters, who have once again demonstrated their unwavering loyalty with record levels of engagement in 2024. This result is a testament to their commitment, and the club sincerely thanks them for their continued support.

The club would also like to acknowledge the important contributions of its 2024 commercial partners, including AFL co-major partners Dutton Automotive, Fujitsu General Australia, and AFLW co-major partner Toyota Material Handling Australia.

CEO Craig Vozzo paid tribute to the Essendon community for their incredible support during the year.

“We are extremely pleased to return the Club to a profitable position this year. The modest profit reflects strong attendance figures and the amazing contribution of a loyal member base, which has allowed us to reinvest in our football operations and facilities. This important investment in our football programs ensures we have the resources and tools necessary to build for our key objective, which is a period of sustained on field success for our club.”

“Pleasingly, we have strong financial foundations, reflected in the strength of our balance sheet. With no bank borrowings, we remain financially independent and are well-positioned for growth across all areas of the business in 2025.”

“On behalf of the club, I would like to acknowledge our members and supporters, who are the lifeblood of the club and have continued to support us through thick and thin. This is never lost on any of us at the club and drives us as we reshape the club and build for sustained success.

“I would also like to sincerely thank our commercial partners, corporate groups, staff, volunteers, and the broader Essendon Community for their ongoing support and commitment to the club.”

“Overall, the significant changes we’ve made over the past two seasons are reflected in this result. We remain fully committed to delivering on our vision for the club, and we are grateful for the passion and loyalty of our members and supporters. With their support, we look forward to an exciting and successful 2025 season.”

The 2024 Essendon Football Club Annual General Meeting (AGM) will be held at the Essendonians Function Centre, The NEC Hangar, 32 Watson Drive, Melbourne Airport on Wednesday December 18 2024 at 6.30pm.

To read the 2024 Annual Report, please click here.