The 2015-2016 financial year was excellent for Kärpät Ldt.
Kärpät is a Finnish hockey team. They play in Finnish hockey league called Liiga. Kärpät are from Oulu. Last and this year they did well financially and as the team in hockey league.
Last year the revenue was for Kärpät EUR 11,7 million. This year the revenue was EUR 11,5 million. So this year the revenue is not better than last year. But this year the financial profit was EUR 900,000.Compared to last year the financial profit was EUR 500,000, which is a big change.
Contractual profits were from revenue EUR 6.1 million, ticket profit EUR 2,7 million, restaurant profit EUR 1,8 million and other profit were EUR 0,9 million.
In Liiga if you make such a big revenue, it is respectable. This is because there are only a few teams that make profit and the other teams just try to survive somehow.
Why is Kärpät Ldt doing better than others? The reason for that is many team are going over the resources. income does not cover the expenses. Kärpät Ltd have done a really good job in business the past years. They have a really well organized team and they know how to use money. This year cash equivalents were EUR 2,5 million and the equity ratio was 78 percent. Kärpät Ltd did not have interest-bearing liabilities at all.
Kärpät Ltd also paid dividends for EUR 158,000 to shareholders. 80 percent of the amount goes to foundation of juniors which is the biggest owner of the company.
Kärpät Ltd had at financial year employment relationship of over 62 workers, including the players. Salary expenses exceeded EUR 4.6 million. The benefits of this is, that they could also hire or offer work to the people who have no job, when Kärpät had a match day. So everyone in Oulu wins.