Derbyshire County Cricket Club has announced its financial results for the year ended 31st December 2018.
EBITDA (earnings before interest, taxes, depreciation, and amortisation) for the year was a deficit of £30,056. After charging interest and depreciation, the deficit for the year was £279,533.
Total income reduced from £4,927,000 in 2017 to £4,242,000 in 2018 due to a reduction in ECB payments and the fact that 2017 benefited significantly from hosting the Women’s World Cup.
The club also lost its principal sponsor, 3aaa, which resulted in a loss of expected commercial sponsorship income of £120k.
Despite the challenging trading conditions, both commercial income and conference and events income increased compared with 2017, and Derbyshire further established The Pattonair County Ground as an events venue, hosting the city’s annual firework display for over 10,000 people, staging a major concert headlined by Little Mix attended by 15,000 people, and presenting an outdoor concert with the stars of Mamma Mia.
Chairman, Ian Morgan said: “The fall in income obviously contributed to the financial loss but this was exacerbated by the loss of our Principal Partner. Moving into 2019, we aim to reduce costs across the business and whilst enhancing our customer experience we are seeking to improve our margins, particularly in our Conference and Events business, to make sure that more of the revenue we bring in reaches the bottom line, and thus gives us the resources to continue to invest in the cricket budget.
“Looking to the future, I am pleased to report the 2019 budget looks healthier and we hope to record a surplus and a cash inflow. Moving into 2020, our future finances are helped by the additional cash from the ECB associated with the media rights money from the new competition.
“2018 was always going to be our most challenging year but despite this the Board of Directors and I are confident that Derbyshire County Cricket has established a sound financial platform that will enable us to host first-class cricket for many years to come.”