Tappara suffered heavy losses – now the CEO speaks
The Finnish championship winner from last spring, Tappara, suffered significant losses compared to the previous financial year. The financial year of Tappara’s parent company, Tamhockey Group, ended with a loss of 812,000 euros.
On the other hand, Tamhockey’s turnover was 15.4 million euros (15.7 million euros in the previous financial year), and the equity ratio remained strong at 58.4 percent.
The financial result of the year was influenced by investments made to strengthen competitive sports performance, investments in player development, significant one-time costs, and the effects of the previous playoff revenue distribution model in the league.
– The Finnish championship is a significant achievement for us and a testament to our long-term work. However, it must also be stated that we cannot be satisfied with the financial result of the year. Strengthening profitability is one of our main goals for the upcoming season, says Tappara’s CEO Ari Penttilä in the club’s statement.
– Despite the Finnish championship, the playoff revenue distribution system did not provide the club with the financial benefits that correspond to the sports success and costs. The situation will change with the introduction of a new revenue distribution model in the upcoming season, which will create a healthier connection between sports success and the possibility of financial rewards. This is a very important reform from the perspective of Finnish top ice hockey.
– The result did not come as a surprise to us. We invested precisely and determinedly in the team after the previous season’s sports disappointment. Additionally, the financial year was burdened by one-time costs, which alone accounted for about half of the total loss. These will not naturally affect the result of the current financial year, and we have already started long-term corrective measures in good time during the winter, Penttilä says.
During the financial year, the group also acquired ownership of the Spiral arena and expanded the operations of its subsidiary, Tammerch Oy.
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