How Did Brisbane Broncos Boost Profit 38% in H1 2025?
Brisbane Broncos Limited reported a 38% increase in half-year profit before tax to $8.69 million, driven by an additional NRL home game and stronger revenue streams including ARLC grants, memberships, sponsorships, and merchandise sales.
- Profit before tax rose to $8.69 million, up 38% from 2024
- Total revenue increased 17%, boosted by an extra NRL home game
- ARLC grants grew 22.9%, supporting competition expansion
- Sponsorship and merchandise revenues saw double-digit growth
- Operating costs increased due to additional games and player salaries
Strong First Half Driven by Additional Home Game
Brisbane Broncos Limited has delivered a robust financial performance for the half-year ended 30 June 2025, reporting a profit before tax of $8.69 million, a significant 38% increase compared to $6.30 million in the same period last year. This uplift was underpinned by an additional National Rugby League (NRL) home game played at Suncorp Stadium, which rose from seven to eight games, contributing to higher gate receipts and associated game day revenues.
Revenue Growth Across Multiple Streams
Total revenue climbed to $49.62 million, up 17% from $42.26 million in 2024. Key contributors included a 22.9% increase in grants from the Australian Rugby League Commission (ARLC), reflecting contractual funding escalations and new competition expansion initiatives such as the Pacific Rugby League Partnership. Membership, ticketing, corporate sales, and game day revenues grew by over 20%, supported by the extra home game and stronger corporate engagement. Sponsorship revenue also rose 11%, buoyed by new partnerships and category changes, while merchandise trading revenue surged 19%, aided by enhanced marketing automation and inventory management.
Rising Costs Reflect Expanded Operations
Operating expenses increased to $40.94 million from $35.96 million, driven by the additional home game and expanded football operations. Costs related to stadium operations, membership services, marketing, sponsorship activation, and player salaries all rose. Notably, football expenses were impacted by the timing and growth of the NRL Women’s (NRLW) season and ongoing investment in academy and pathway programs for both male and female players. Community program expenses also increased, reflecting new initiatives and higher resource costs.
Outlook and Uncertainties for Full Year
The Group projects an improved full-year financial result compared to 2024, assuming current conditions hold. However, the second half of the year presents uncertainties including home crowd attendance variability, operational costs for remaining NRL and NRLW games, team performance influencing commercial opportunities, and unpredictable player medical expenses. The differing number of home games between halves (eight in H1, four in H2) further complicates full-year forecasting. Management cautions that the first half results should not be taken as a definitive indicator of the full-year trend.
Dividend and Capital Position
No interim dividend has been declared for the period, consistent with the prior year. The Group maintains a strong balance sheet with net assets rising to $51.83 million, supported by cash and short-term deposits of nearly $29 million. Earnings per share improved to 6.13 cents, up from 4.34 cents in 2024, reflecting the enhanced profitability.
Bottom Line?
While Brisbane Broncos ride a wave of revenue growth and profit gains, the second half of 2025 holds key uncertainties that will test the sustainability of this momentum.
Questions in the middle?
- How will attendance trends for the remaining home games impact revenue and profitability?
- What is the financial effect of the expanded NRLW season and ongoing player salary commitments?
- Could the Pacific Rugby League Partnership and competition expansion materially alter future funding and commercial prospects?
