Warwickshire County Cricket Club have announced a record financial year.
The club have released the following statement:
"Warwickshire County Cricket Club has announced 2014/15 as a record financial year for the Club with year-on-year turnover up 47 per cent, to £18.3 million, and EBITDA* more than doubled (122 per cent), to £3.7 million.
The Club has now increased turnover and EBITDA in the last three financial years, with the latest results impacted by Edgbaston hosting the Third Investec Ashes Test Match last July, which led to increases in ticketing, catering, hospitality and merchandise revenues.
However, in addition to the programme of major match cricket, substantial increases of 43 per cent in revenues and 86 per cent in attendances in domestic T20 cricket have also been revealed, where the Club is represented as Birmingham Bears.
Craig Flindall, Finance Director of Warwickshire CCC, said: “This was the first occasion that Edgbaston has hosted an Ashes Test Match since the £32 million redevelopment, in 2011, and the new facilities and increased capacity has led to a £2.6 million (17%) increase in turnover and £1.9 million (108%) increase in EBITDA in comparison to 2009, when we last hosted the Ashes.
“Revenues from major match days are the main driver of the Club’s turnover and, whilst we cannot replicate the impact of an Ashes Test Match every year, we have an excellent allocation of fixtures confirmed until 2019, which underpins our strategic plan and financial results for the coming years.”
Edgbaston will host England on two occasions in 2016 with a Royal London One Day International (ODI) against Sri Lanka on Friday 24 June and an Investec Test Match against Pakistan between Wednesday 3 and Sunday 7 August. The stadium will also host the biggest day in domestic cricket, with NatWest T20 Blast Finals Day on Saturday 20 August.
Overall, Edgbaston will host 35 days of major match cricket from 2016 to 2019, with an Investec Test Match confirmed each year, including the return of the Ashes in 2019. Edgbaston will also play a prominent role in the hosting of two global tournaments by hosting five matches – including a semi-final – of both the ICC Champions Trophy and ICC Cricket World Cup in 2017 and 2019 respectively.
Neil Snowball, Chief Executive of Warwickshire County Cricket Club, said: “Whilst hosting an Ashes Test Match is a great opportunity, the Club had to work very hard to maximise this opportunity; activities included the installation of a temporary stand to give even more spectators a chance to watch the match and new travel and catering initiatives that made the spectator experience more enjoyable.
“It is also very encouraging to be rewarded for the increased investment in T20 cricket. The regular opportunity to watch Birmingham Bears play on a Friday night and allowing under 16s in for free has made T20 cricket at Edgbaston a very exciting proposition, and we have ambitious plans to grow further in 2016.
“Away from cricket, our conference and events business also continues thrive, with revenues in 2014/15 increasing to a record level of more than £2.2 million.”
*EBITDA – Earnings before interest, tax, depreciation and amortisation.