Brisbane Broncos Limited (ASX:BBL) Announces 2024 Financial Results
Financial Performance
Brisbane Broncos Limited reported a net profit after tax of $5.7 million for the 2024 financial year, up from $5.6 million in 2023. Gross revenue increased by 8.5% to $81.6 million, driven by growth in sponsorship, membership, and game day revenue. Total Group expenditure for 2024 was $73.2m, an increase of 9.4% compared to 2023. The increase is reflective of the growth in average crowds for the 2024 season and resultant increase in costs associated with commercial, consumer and game day activities. Investments were made in 2024 in marketing, brand, and data and technology.
Operational Highlights
The NRL team faced challenges in the 2024 season, missing the Finals series. However, the NRLW team secured the minor premiership and reached the Semi-Final. Home game attendance rose by 18%, averaging 39,873 spectators.
Membership and Sponsorship
Total membership numbers reached 61,280, with ticketed memberships up to 41,734. Sponsorship revenue grew by 5.6%, supported by extended partnerships and enhanced game day benefits.
Community Initiatives
The Broncos’ community programs positively impacted over 3,500 young indigenous students in 2024, continuing efforts supported by federal and state governments.
Dividend Declaration
On 18 February 2025, the Board declared a final dividend of two cents per share for the 2024 financial year, which was paid on 17 April 2025.
Future Outlook
The club welcomed Coach Michael Maguire and new players and staff in 2025, positioning for a positive future. CEO Dave Donaghy and the board are focused on continued success both on and off the field.
Motley Fool contributor Matt Burgess has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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