BRISBANE BRONCOS LIMITED AND ITS CONTROLLED ENTITIES 2023 FINANCIAL RESULTS
Brisbane Broncos Limited reported a net profit after tax of $5,631,793 for the financial year ended 31 December 2023, an increase from $3,233,336 in 2022.
The Group's gross revenue for the 2023 financial year was $75,205,714, a 25.7% increase from 2022.
Earnings Before Interest, Tax, and Depreciation (EBITDA) for 2023 were $8,665,194, up from $5,716,442 in 2022.
The Group's financial performance was positively influenced by the NRL and NRLW teams' competitive success, leading to increased average crowds, memberships, ticketing, merchandise, and corporate sales revenue.
Total membership numbers for 2023 increased to 47,346 from 36,800 in 2022.
Merchandise sales revenue saw a significant increase of 121.3% to $3,738,016 in 2023 from $1,688,788 in 2022.
The Group's total expenditure for 2023 was $66,900,492, a 21.4% increase from 2022, reflecting the growth in commercial, consumer, and game day activities.
A final dividend of one and a half cents per share, franked to 100% at the 30% corporate income tax rate, was declared for the financial year ended 31 December 2023.
The Group's cash and cash equivalents at the end of 2023 were $22,814,632, up from $19,826,938 in 2022.
The Group's net assets as of 31 December 2023 were $43,536,790, an increase from $39,375,606 in 2022.
The financial report complies with Australian Accounting Standards and International Financial Reporting Standards as issued by the International Accounting Standards Board.
This announcement is a summary of the company approved ASX announcement on 20/2/2024 and is based on facts from the announcement.