QRU Records Seventh Straight Operating Profit

The Queensland Rugby Union (QRU) has fortified its position as one of the most financially stable sporting bodies in Australia, today announcing its seventh consecutive operating profit.

The organisation reported a 2025 earnings before interest, tax, depreciation, and amortisation (EBITDA) of $813,997, a substantial increase from the $199,832 recorded in the 2024 financial year.

This financial performance was largely fueled by a surge in commercial partnership returns and heightened game-day revenues. A primary driver was the Queensland Reds’ high-profile tour match against the British and Irish Lions, which generated significant international interest and commercial inventory. The results indicate that the QRU’s long-term strategy of decoupling financial stability from on-field win-loss ratios is yielding tangible success.

The Ballymore Transformation

A central pillar of the QRU’s economic recovery has been the redevelopment of the Ballymore precinct. Since the completion of the BMS National Rugby Training Centre (NRTC) in 2023, the venue has undergone a massive financial turnaround, moving from an annual loss exceeding $1 million to near break-even point.

Noting that the precinct remains the bedrock of the union’s future growth, QRU CEO, David Hanham, said: “Our focus has been on building a business model for long-term sustainability.”

The organisation is now focused on the next phase of development, seeking partners for 4,000m² of already approved commercial space within the precinct to further diversify revenue streams.

Reporting and Asset Depreciation

Despite the strong operating profit, the QRU reported a statutory loss of $1,110,425. This figure is primarily attributed to a significant non-cash depreciation charge of $1,760,856 across the revamped Ballymore assets and the NRTC. This represents an improvement over the 2024 statutory loss of $1,647,196, which was also impacted by a $1,704,693 depreciation charge.

The QRU’s ability to maintain an operating surplus while managing significant infrastructure depreciation highlights a disciplined approach to asset management.

By converting Ballymore from a liability into a commercial asset, the union has secured a foundation for growth as it looks toward the 2027 Men’s Rugby World Cup and the 2029 Women’s Rugby World Cup, both set to be hosted in Australia.

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