2017 ANNUAL REPORT CONTENTS
WHO WE ARE 4 DELIVERING OUR STRATEGY 5 PRESIDENT’S REPORT 6 CHIEF EXECUTIVE’S REPORT 8 YOUR EKKA 12 A PASSION FOR PRODUCE 22 OUR BUSINESS 26 YOUR VENUE 30 BRISBANE SHOWGROUNDS PRECINCT 34 GOVERNANCE 38 FINANCIAL REPORT 45 HISTORICAL TIMELINE 67
2 2017 RNA ANNUAL REPORT MISSION
The Royal National Agricultural and Industrial Association of Queensland (RNA) is committed to celebrating and championing agriculture and the essential role it plays in the everyday lives of Queenslanders.
We do this by showcasing and rewarding the very best of the best in agriculture through our Royal Queensland Show (Ekka) and Royal Queensland Food and Wine Show (RQFWS) competitions.
Our education programs and promotions are also designed to advocate for agriculture and reflect the association’s core charter.
The RNA has been committed to ensuring the community recognises the vital role agriculture plays in everyday life since 1875.
2017 RNA ANNUAL REPORT3 WHO WE ARE
OUR BUSINESS FOCUS Founded in 1875, the RNA is an independent, not for profit member based Governed by 21 elected Councillors, the RNA represents more than 4,000 association that has freehold title to the iconic Brisbane Showgrounds. members across Queensland and further afield, many whose families have been involved with the RNA for generations. The association’s guiding mission is to celebrate and champion the essential role agriculture plays in the everyday lives of Queenslanders.
ROYAL QUEENSLAND SHOW ROYAL QUEENSLAND FOOD (EKKA) AND WINE SHOW (RQFWS)
The Royal Queensland Show (Ekka) is Queensland’s largest and most Launched in 2009, the Royal Queensland Food and Wine Show loved annual event. It’s run by the RNA on behalf of the community for (RQFWS) is designed to recognise and reward outstanding producers 10 days each year in August. While providing entertainment and fun, and their produce through its individual competitions: Cheese and the show is also the platform for some serious competition, attracting Dairy Produce; Ice Cream, Gelato and Sorbet; Branded Beef; Branded more than 21,000 entries across 48 competition sections each year. Lamb; Wine; Ham, Bacon and Smallgoods; and Sausage King and International and national judges attend to award the best in agriculture, Best Butchers Burger. The RQFWS has grown rapidly in recognition fine arts, horse events, canine and feline, beef and dairy cattle, boer and awareness throughout the industry and is known as Queensland’s goats, fleece, poultry and birds, pisciculture, woodchop and sawing premier food and wine competition. and more. The show also provides an important educational focus for students, who compete for awards in art, gardening and multimedia. ROYAL INTERNATIONAL The Ekka, which has always been a place for businesses to show and CONVENTION CENTRE sell their wares, is Queensland’s largest and most targeted marketplace (ROYAL ICC) & BRISBANE attracting more than 400 retailers. SHOWGROUNDS PLACEMAKING
The Brisbane Showgrounds is a venue business which hosts almost 300 events each year including exhibitions, conferences and music festivals, across its 22 hectares. The $2.9 billion, Brisbane Showgrounds Regeneration Project is one of the largest mixed-use, urban regeneration projects in Australia. The Royal International Convention Centre (Royal ICC) is a world-class, The revitalisation of the Showgrounds generates year round vitality two-level building featuring three halls with state-of-the-art rigging, seven throughout the precinct, while ensuring the Royal Queensland Show adaptable meeting rooms, two boardrooms, an open foyer, 140 car parks remains on the site where it first began in 1876. Once complete, more and cutting-edge catering facilities. It’s the only convention centre in than 15,000 people will live, work and play each day at the Brisbane Australia where guests can enjoy award-winning food and wine from the Showgrounds, which is fast becoming Queensland’s most prominent prestigious Royal Queensland Food and Wine Show (RQFWS) and iconic lifestyle and events precinct. Royal Queensland Show (Ekka).
4 2017 RNA ANNUAL REPORT DELIVERING OUR STRATEGY
YEAR IN REVIEW - 2017 Strong growth in the RNA’s venue businesses coupled with cost 2017 was a watershed year for our $2.9 billion Brisbane Showgrounds efficiencies has resulted in an exceptional year for the 143 year old Redevelopment Project with construction starting on major stage association. three works including the Large Animal Pavilion and the world’s tallest engineered timber office building known as 25 King. The RNA recorded a positive EBITDA result for 2017 of more than $1.25 million - an improvement on 2016’s EBITDA result of $85,000, A major highlight was the continued emergence of the King Street an increase of more than $1.16 million. This was due to a 14 per cent dining precinct with eight new retailers opening including the two-hat increase in our venue business revenue, from $12.7 million in 2016 to French Restaurant Montrachet which is bringing more visitors to the $14.6 million last year, plus a 15 per cent reduction in administration area. In August 2017, a five level (375 bay) car park opened to the costs. public in King Street to accommodate these growing numbers.
In 2017, the RNA’s overall turnover, excluding net redevelopment We look forward to many regeneration milestones in 2018. More revenue, increased by more than eight per cent to $31.8 million from retailers will open in King Street, with a permanent food truck stop and $29.2 million in 2016. A disciplined approach across all RNA business childcare centre opening in February 2018. The redevelopment ensures units led to improved cost management helping the association record the Ekka remains at the Showgrounds for future generations to enjoy, a net profit of more than $3.6 million. while securing the long term financial viability of the RNA.
The Royal Queensland Show (Ekka) celebrated its 140th anniversary Other development milestones include the completion of the Large in 2017 and although attendance revenue did not meet expectations, Animal Pavilion in October, with partial use for Ekka 2018. The new the show was a great success operationally with record entries in our pavilion will accommodate up to 1,600 head of cattle and other large woodchop and beef competitions. animals.
The Ekka was also recognised internationally at the annual International The RNA’s operating cash flow levels will continue to be marginal for Association of Fairs and Expositions (IAFE) awards. IAFE represents the next decade until the annuity assets being created through the more than 1,100 fairs around the world and the Ekka won a total of redevelopment project return cash flow to general RNA operations. 19 awards, including 10 awards for communications, and nine across Under our project agreement, earnings from the annuity assets are agriculture and competitions. retained under the RNA Development Fund and quarantined to service The RNA also recorded a net redevelopment revenue for the year loans and to fund future project costs. This outcome is consistent with of more than $7.8 million (funds to be deposited into the RNA the long term strategic plan and requires a very disciplined approach to Development Fund), resulting from the further settlements of The Yards cash flow management until these assets are returned to the RNA. residential apartments.
2017 RNA ANNUAL REPORT5 PRESIDENT’S REPORT
In our 142nd year of operation, the RNA celebrated a remarkable is more vital today than ever before. We must continue to educate the milestone – the 140th anniversary of the state’s most iconic and beloved next generation as to the importance of agriculture – from the food we eat event – The Royal Queensland Show (Ekka). Even more remarkable is the to the clothes we wear. It is this mission that drives the RNA to ensure the show has endured through economic depressions in the late 1800s and show continues for future generations to enjoy. early 1900s, through decades of change, challenges and prosperity to In 2017, more than 30,000 children visited in school groups and were today. inspired, educated and entertained over the 10 days of show. The Only twice in the show’s history has the event not been held – in 1919 – Agricultural Education Hall featured more educational activities for due to Spanish influenza and during World War 2 when the Showgrounds children than ever before, with 11 activities making up a new Field to Fork was used as a staging depot for troops. No other event in this state has interactive rural journey. endured and prospered like the Ekka, and the reason is simple – the To mark the show’s 140th birthday, we celebrated by holding two people. fireworks displays – an early 6pm show for children culminating in the The show has been important to countless generations of Queenslanders famous finale fireworks. We introduced a half price twilight ticket. due to their love of all things Ekka. The heritage of the show can be Although the overall attendance was not at the level we expected, the earmarked against the state’s own historical timeline. In 1876, the 2017 Ekka was a great success operationally and featured record entries Showgrounds was the birthplace of the state’s cultural and social life, in some of our competition sections. More than 4,100 exhibitors vied hosting the inaugural Ekka and acting as the meeting place for country for their chance to take home a coveted blue ribbon and share in a prize and city to come together – today that ethos remains at the heart of the pool of more than $565,000. There were 1,378 new competitors. The event. competitions continued to grow in popularity in 2017, with a record 2,889 It is the reason why the RNA continues to stage the state’s largest entries received in the beef sections, while Woodchop and Sawing entries community event annually, when the bush comes to town to reached 2,000 for the very first time - an increase of 30 per cent on 2016. acknowledge the best of the best in our competitions. We highlight the Painting and Drawing, Pisciculture, Poultry, Quilts Across Queensland, essential role agriculture plays in our everyday lives. As society continues Sculpture, Bush Poetry and Wool also enjoyed increases in entries. to navigate a 21st century world of digital disruption, the role of the Ekka
6 2017 RNA ANNUAL REPORT “AS SOCIETY CONTINUES TO NAVIGATE A 21ST CENTURY WORLD OF DIGITAL DISRUPTION, THE ROLE OF THE EKKA IS MORE VITAL TODAY THAN EVER BEFORE.”
The Ekka was also recognised internationally at the annual International patrons can enjoy a better experience. In 2017, construction started on Association of Fairs and Expositions (IAFE) awards. IAFE represents more the Large Animal Pavilion, Marquee 2 and Farmers Lane. The pavilion will than 1,100 fairs around the world and the RNA won a total of 19 awards, be the new home of large animals for the next generation of exhibitors including 10 awards for communications, and nine across agriculture and and visitors to enjoy while outside of show it acts as a car parking facility competitions. and exhibition space with funds to be invested into future shows.
Ensuring the Ekka remains at the Brisbane Showgrounds is one of In 2017 we launched the RNA Foundation – which has been established the driving principles behind our $2.9 billion Brisbane Showgrounds to aid heritage preservation, agricultural education and agricultural regeneration. Many of the buildings were in urgent need of renovation awareness throughout Queensland. The foundation was launched at the and, without the capital generated from the regeneration project, third annual RNA ‘High Tea’ Charity Fundraiser which was held on Ekka could not have been repaired. 2017 marked the seventh year of the eve and attended by almost 400 women. The High Tea raised more than 15 year project and featured the continued emergence of the King $20,000 to supply iPads and associated technology for the Lady Cilento Street dining precinct with eight new retailers opening including the Children’s Hospital Foundation school. As we move into 2018, events two-hat Montrachet restaurant. Another guiding principle behind our such as the Ekka Ball and High Tea will raise funds to aid the foundation’s redevelopment is to diversify the RNA business and generate new efforts. revenue streams by transforming the precinct into a year round world I would like to sincerely thank my fellow councillors for their invaluable class events and lifestyle destination which Queenslanders can enjoy all efforts and enthusiasm and pay tribute to the RNA’s staff, volunteers, year round. The aim is to make the Association financially sustainable judges and stewards for their hard work during what has been a fantastic into the future. year, both financially and operationally, for the RNA. Last year the revenue from our other year round business, especially the convention centre, made up for the lower gate attendance.
While the footprint of the Ekka is not the same as it was a decade ago, the revitalisation of the Showgrounds brings with it revitalised old buildings David Thomas and also new buildings to ensure the next generation of exhibitors and PRESIDENT
2017 RNA ANNUAL REPORT7 CHIEF EXECUTIVE’S REPORT
2017 was a milestone year for the RNA with exceptional financial results viability of the RNA. due to operational successes and a focus on achieving significant cost 2017 proved that despite Ekka delivering reduced gate revenue, our efficiencies. diversification strategy is working by not relying so significantly on the The RNA recorded a positive EBITDA result for 2017 of more than financial performance of the Ekka, it means that we can be assured that $1.25 million - an improvement on 2016’s EBITDA result of $85,000. the Show will continue for at least another 140 years. This was due to a 14 per cent increase in our venue business revenue, These results underpin the strategic objectives we focused on in 2017: from $12.7 million in 2016 to $14.6 million last year, plus a 15 per cent reduction in administration costs. ¢ To promote agricultural and industrial products to local, national and international visitors through the staging of the Royal In 2017, the RNA’s overall turnover, excluding net redevelopment Queensland Show (Ekka) revenue, increased by more than eight per cent to $31.8 million from $29.2 million in 2016. ¢ To create a diversified RNA business, ensuring the continued success of the Royal Queensland Show A disciplined approach across all RNA business units led to improved cost management helping the association record a net profit of more ¢ To reinvest in our mission of celebrating and championing than $3.6 million. This was an excellent result considering our gate agriculture and the essential role it plays in the everyday lives of revenue at the Royal Queensland Show did not meet expectations. Queenslanders
The RNA’s strategy to diversify its income streams by creating new ¢ Transform the Brisbane Showgrounds into a multidimensional businesses through our Brisbane Showgrounds Regeneration Project is ‘place’ paying dividends. 2017 marked the seventh year of the $2.9 billion In 2016, our focus was on achieving revenue growth for the Royal redevelopment which has provided the capital injection for new and International Convention Centre (Royal ICC), the planning and creation refurbished exhibition facilities, as well as deliver a number of new of annuity assets and targeted growth for Ekka. The Royal ICC achieved diversified income streams from annuity assets. a 40 per cent increase in sales in 2016 which was followed up by a 14 These annuity assets include automated carparks, a hotel lease, as well per cent increase in 2017. In the past two years our venue revenue has as retail outlets and they will allow the RNA to generate more diversified increased by more than 54 per cent – an excellent achievement returns throughout the entire year. Developing a number of these new considering we opened the Royal ICC in just 2013. businesses through the redevelopment is crucial to the long term In 2017 our efforts focused on reaching maximum occupancy for the
8 2017 RNA ANNUAL REPORT “A DISCIPLINED APPROACH ... LED TO IMPROVED COST MANAGEMENT HELPING THE ASSOCIATION RECORD A NET PROFIT OF MORE THAN $3.6 MILLION. ”
Royal ICC, growing our Brisbane Showgrounds business and delivering A major focus of 2017 and onwards is to support and enhance our an international standard product and service offering. In 2018 we will future business and marketing strategies through modern and effective continue to drive growth for our Showground venues including our new digital capacity. Our strategy ensures we are focused on rapidly Marquee 2 which was completed in February 2018. Marquee 2 is 2,250 changing digital technologies and trends plus the broader impacts that square metres and can house 3,000 people (standing) and will be ideal the digital age will have. We are committed to driving total and inclusive for music events and exhibitions. engagement with all stakeholder groups through multiple channels and enriching and personalising onground precinct experiences. We also look forward to the completion of the Large Animal Pavilion, which will house large animals during the Show and serve as a carpark I would like to sincerely thank the efforts of all staff for their commitment outside of Ekka and completion of 25 King, the world’s largest timber and hard work during the year. On behalf of all staff I express our thanks building that will offer more commercial space in King Street. to President David Thomas and Council for their guidance, vision and collaboration throughout the year and our RNA members for their In 2017, we continued improving the quality of the Ekka offering as well continued support of our association. as the focus on how we present agriculture at the Show. The show celebrated its 140th anniversary by offering an improved value 2018 will be another year of achievement and innovation for our experience including half price twilight entry and increased opening organisation with construction continuing on our Showgrounds hours in our gourmet food and beverage precincts. redevelopment with more retailers, including a permanent food truck stop and childcare centre opening. This ongoing transformation is While our ticket revenue did not deliver what we had hoped, the show ensuring the Showgrounds continues its evolution into a world-class was an outstanding success as evidenced by the highest net promoter lifestyle and events destination precinct and most importantly ensures score we have ever received, which denotes customer satisfaction and the Ekka remains at its birthplace for generations to come. consumer advocacy. We also looked to improve the interactivity of our competitions, increasing agricultural education, relevance to industry, digital engagement, improving the quality of entries and our standard of delivery.
The focus on improving the value perception of Ekka, promoting the country experience on grounds, increasing attendances and enhancing our digital engagement remains a critical element of our planning for the Brendan Christou 2018 show. CHIEF EXECUTIVE
2017 RNA ANNUAL REPORT9 COUNCIL UPDATES
RETIRING COUNCILLOR Tim Rothwell
Tim Rothwell retired from the RNA Council in April 2017. Mr Rothwell was elected to Council in October 2013, serving as Honorary Treasurer. He was also a member of the Executive, Finance, Audit, Development, HR and Remuneration, Industry and Sponsorship and Dairy Cattle and Goat Committees. As Chief Financial Officer of Brisbane Airport Corporation for 16 years and with extensive knowledge in general, financial, project, property and event management and board matters, Mr Rothwell brought great expertise to the RNA.
NEW COUNCILLOR David Fagan
David Fagan was appointed to the RNA Council in May 2017. Mr Fagan is Director of Corporate Transition at QUT where he runs projects that help the university prepare for change. He is experienced in the digital and media worlds and was editor of The Courier-Mail then editor-in- chief of News Queensland for 11 years from 2002. During that time the newspapers converted from print to multimedia and took a leading role in the public debate on better development and better government for Queensland. He also sits on the board of Carers Queensland and QMusic. David is married and the father of three daughters.
10 2017 RNA ANNUAL REPORT RNA FOUNDATION
HERITAGE EDUCATION AGRICULTURE
In 2017 the RNA launched the charitable arm of the association – the RNA Foundation (RNAF). The foundation has been established to aid heritage preservation, agricultural education and agricultural awareness throughout Queensland. The foundation was launched at the third annual RNA ‘High Tea’ Charity Fundraiser which was held on Ekka eve and attended by almost 400 women. The High Tea raised more than $20,000 to supply iPads and associated technology for the Lady Cilento Children’s Hospital Foundation School. As we move into 2018, events such as the Ekka Ball and High Tea will raise funds to aid the foundation’s efforts. Donations to the RNAF of a value of $2 or more are fully tax-deductible. Donations may be allocated to a specific charitable pillar (heritage, agriculture or education), or to the general charitable funds within the RNAF. The foundation is chaired by RNA Councillor Don Chandler with board members Tim Fairfax AC, Ben Poschelk and Caitlin McConnel.
2017 RNA ANNUAL REPORT11 ROYAL QUEENSLAND SHOW YOUR EKKA
OVERVIEW
The Royal Queensland Show (Ekka) was delighted to celebrate a attracting more than 21,000 competition entries, 10,000 animals, a remarkable milestone in 2017 - its 140th anniversary. smorgasbord of award-winning food and wine and hours of free family entertainment. From humble beginnings in 1876 when an estimated 15,000 to 17,000 people attended the show, the Ekka has grown into a world-class event Over the past 140 years, more than 30 million people have visited attracting on average 400,000 people each year. Queensland’s largest and most loved annual event, celebrating agriculture and the critical role it plays in our everyday lives. The RNA celebrated Ekka’s 140th by giving back to the people who have made the show what it is today, by introducing a new half price The RNA is honoured to stage the Ekka, the people’s show, on behalf ticket for entry from 6pm and not one, but two fireworks displays. of the community each year and is committed to preserving a wonderful legacy for future generations to enjoy. The 10 day show from August 11 to 20 brought the country to the city,
12 2017 RNA ANNUAL REPORT EKKANITES EXTRAVAGANZA
The spectacular night show EkkaNITES went off with a double bang in arena in an Ekka first. The crowd was also impressed by the world first 2017, with the introduction of a new children’s fireworks display at 6pm. human stilt performers shooting pyrotechnics off their backs.
It was a hit with parents who didn’t have to keep their kids up past their Another highlight of EkkaNITES was daredevil Sam Powers, who bedtime to see stunning fireworks light up the Ekka sky. narrowly escaped death each night by freeing himself from a strait jacket while suspended 40 feet high by a crane - all before a set of Inspired by the colours of the Great Barrier Reef, bright bursts of steel jaws came crashing down. Also making the crowd gasp were four pyrotechnics fired high above the Main Arena to replicate the beautiful Showtime FMX riders who pulled off nail-biting aerial tricks. coloured corals, while giant marine animal kites swayed effortlessly through the air. In the Rooftop Express Brumby Muster, eight year old Bella Southern stole the show, as she mustered 20 miniature ponies on horseback. Upping the ante at 7.40pm was the Fireworks Spectacular, which saw fireworks and flames shoot from 115 positions, including from the length For the fifth year, EkkaNITES was produced by entertainment and top of a 30 metre high crane - a first for the southern hemisphere. extraordinaire Jack Ellison, who has worked on blockbuster films including Mission Impossible 2. Max Brunner and his team from The audience certainly felt the heat as they became immersed in a 360 Skylighter FireworX were behind both fireworks displays, while Ash degree flame experience, with flames firing right from the edge of the Neuendorf designed the lighting for the first time.
TWILIGHT TICKET
More than 12,000 people took advantage of the new half price Twilight the many food pavilions including the Royal Queensland Steakhouse Ticket, which allowed entry from 6pm for just $16. presented by JBS, which were open later until 9pm.
Those who purchased the ticket were able to enjoy the world-class The new ticket saw Ekka’s after 6pm sales triple, compared to 2016. night show EkkaNITES, the rides and showbags in Sideshow Alley and
2017 RNA ANNUAL REPORT13 MAKING A SPLASH
Taking extreme diving to wild new heights, the Heritage Bank Western High Dive Show saw professional divers take the plunge four times a day from 25 metres in the air.
The four divers leapt from three, 10, 15 and 25 metre high diving boards, performing spectacular sky-high stunts before landing in a tank of water half the size of a professional diving pool.
The show certainly turned up the heat when one of the divers was set on fire, plummeting 10 metres into the water below in a spectacular flame dive.
The Heritage Bank Western High Dive Show was produced by Australian diver and ex-world champion Steve Black.
FROM FARM TO RUNWAY
The iconic Natural Fibres Fashion Parades once again saw Ekka guests treated to a fabulous display of style.
Directed by Laura Churchill for the first time, the ‘Back to Nature’ themed parades featured 27 established, emerging and regional designers, along with a student design segment.
New in 2017 was a Speaker Series giving guests a snapshot of the natural fibre fashion industry, along with a Natural Fibres Market which saw fashionistas update their wardrobes with stunning fashion pieces and accessories.
14 2017 RNA ANNUAL REPORT FLYING HIGH
The world’s best extreme pogo demo crew bounced over from the USA in 2017, to perform at Ekka for the very first time.
The Xpogo Stunt Team featured championship pro athletes Michael Mena, Anthony Staubs and Nicholas McClintock, who pulled off flips and incredible tricks, all while jumping on extreme pogo sticks.
Never short of a large crowd in Gourmet Plaza, the team bounced more than 10 feet in the air, performing impressive backflips, synchronised pogo and athlete battles.
MAKING FEATHERED FRIENDS
For the very first time at Ekka, six of Australia’s most beautiful bird species took flight in the Royal International Convention Centre.
Crowds watched on in awe as the stunning birds, including the endangered Red-tailed Black Cockatoo, flew right above their heads to take centre stage.
The birds showed off their unique personalities, with the cheeky Sulphur Crested Cockatoo even demonstrating how he picks fruit from trees and money from wallets.
2017 RNA ANNUAL REPORT15 EKKA EDUCATION STUDENT CHEESE CHAMPIONS
More than 30,000 children were inspired, educated and entertained at Sandgate District State High School continued its dominance in the Queensland’s largest classroom, the Ekka, over the 10 days of show. Ekka Student Made Cheese Competition, taking out the white cheese title at the Brisbane Showgrounds in June. The Agricultural Education Hall featured more educational activities for children than ever before, with 11 activities making up a new Field to The school won the Mould Ripened Cheese White category with its Fork interactive rural journey. In 2016, the interactive journey featured entry titled ‘Li'l Baby Cheeses.’ six activities. Sandgate has placed in the competition for the past seven years, Field to Fork allowed the kids to discover how food gets from the field taking home two thirds, two seconds and three firsts. to their fork. In order of the agricultural cycle - composting, soil analysis, The school also claimed second place in the Mould Ripened Cheese growing and planting, harvesting and processing - the children followed Blue category, which was won by Mt Gravatt High School for its blue arrows on the ground, taking part in hands-on activities such as digging cheese creatively titled ‘Smurf Village.’ up and identifying different fruit and vegetables, grinding wheat to make flour and then using flour to bake healthy muffins. Chief Judge Russell Smith, along with award-winning cheese maker Ueli Berger from King Island Dairy, tasted their way through 183 Also taking part in the learning activities in the Ag Hall were thousands cheeses from 30 Queensland schools as part of the competition. of students from 122 primary and secondary schools, who came to the show with their teachers on Ekka’s dedicated school days.
16 2017 RNA ANNUAL REPORT COMPETING TO BE THE BEST
Competitions are the heart of the Royal Queensland Show, encouraging exhibitors to strive to produce the best of the best.
In 2017, Queensland’s premier competition event attracted 21,000 entries across 11,000 classes in 48 competition sections.
More than 4,100 exhibitors vied for their chance to take home a coveted blue ribbon and share in a prize pool of more than $565,000, including 1,378 new competitors.
The competitions continued to grow in popularity in 2017, with a record 2,889 entries received in the beef sections, while Woodchop and Sawing entries reached 2,000 for the very first time - an increase of 30 per cent on 2016.
Painting and Drawing, Pisciculture, Poultry, Quilts Across Queensland, Sculpture, Bush Poetry and Wool also enjoyed increases in entries.
INTERNATIONAL AWARDS
The Royal Queensland Show was recognised on the world stage in 2017, picking up 19 awards for excellence at the International Association of Fairs and Expositions (IAFE) Awards.
Ten of the awards were for communications, including first place for social media and second place for an episode of Ekka TV focusing on education.
While nine awards were received across the agriculture and competition categories, with Woodchop and Sawing, Paddock to Palate and Pisciculture among the competitions recognised.
IAFE represents more than 1,100 fairs around the world.
2017 RNA ANNUAL REPORT17 ROYAL QUEENSLAND SHOW 2017 GRAND CHAMPIONS THOROUGHBRED Supreme Champion Thoroughbred Regal Banquet, Anderson & Powell Families, Oakey QLD Most Successful Exhibitor – Thoroughbred Sneaky Peterson, Croxley Stud, Oakey QLD HORSE BREEDS Supreme Champion Australian Stockhorse Ervines Rollex, Allstars Australian Performance Horses, Kerry QLD Supreme Champion Clydesdale Duneske Flash Pearl, J M & I Stewart-Koster, Nutgrove QLD Supreme Champion Riding Pony Whitmere Queen of Pop, Maryanne Bullpitt, South Gundurimba NSW Supreme Champion ANSA LP Classy Lady, C Porter and S Baldwin, Maleny QLD Supreme Champion Arabian Derivative Ascot Living Doll, Shelley Bongioletti, Bundaberg QLD Supreme Champion Australian Pony Rose-Air Royal Maid, P Lenihan & J Uppington, Lanefield QLD Supreme Champion Australian Saddle Pony Pacific View Scarlett, J Uppington, G Christensen & P Lenihan, Logan Village QLD Supreme Champion Shetland Pony Dunthomas Gaymiss, Janis Young, Caboolture QLD Supreme Champion Warmblood Dicavalli Duchess, Clifford Poultney Davies, Landsborough QLD Supreme Champion Welsh Mountain Pony Osory Porcelaine, KD & CD Ireland, Cairns QLD Supreme Champion Welsh Pony Imperial Apollo, GC & J R Arthy, Toowoomba QLD SHOWJUMPING Champion Rider Ronald Easey on Port O Call, Quipolly NSW Young Jumping Horse of the Show Calaza Park Ellibell, D J Bowman, Wamuran QLD Royal Queensland Show Grand Prix Waitangi Skynet, Arkins Pastoral Pty Ltd, Moss Vale NSW Royal Queensland Show Mini Prix K.S Sovereigns Cadel, Michelle Lang-Mcmahon, Waterford QLD The Colin Meagher Memorial Young Riders Championship Phantom Vortex, Kerry Langbecker, Beaudesert QLD FARRIERS & BLACKSMITHS Most Successful Exhibitor - Open Patrick Schimanski, Wanganui NZ Most Successful Exhibitor - Intermediate Aaron Hedger, Scone NSW Most Successful Exhibitor - Novice Bradley Hibbert, Aveley WA HORSES IN ACTION Champion Hack of Queensland Supreme, Stephanie O’Connor, Seaforth NSW Champion Show Hunter Hack of Queensland France, Alannah Richards, Ali Berwick & Raymont Equestrian, Cooran QLD Champion Galloway Hack of Queensland Holly’s Galaxy, Sarah Ryan & Raymont Equestrian, Cooran QLD Champion Open Show Hunter Galloway of Queensland Balena Regal Romance, Ellis, Kirsty & Georgina Harper-Purcell, Nerang QLD Champion Open Pony Hack of Queensland – Over 12.2 Hands Royalwood Cat Call, Teys & Plucknett Families & Sue McIvor, Alberton QLD Champion Show Hunter Pony of Queensland Elvonara Park Kandyman, Carmen Jackson, Mt Nathan QLD Champion Lady Rider Jemma Heran on Black Tie, Guanaba QLD Champion Gentleman Rider A Willett on Scouts Honour, Narangba QLD WOODCHOP & SAWING Champion Axeman of the Show Glen Gillam, Toongabbie VIC CANINE EE. CH. EE. JR CH. CH. CALETTO FLY HIGH (IMP EST), Ronald & Dianne Champion of Show Besoff, Abermain NSW CATS Supreme All Breeds Feline of Show GUYSNDOLLS MICKY J, Debbie Le-Strange, Caboolture QLD PISCICULTURE Champion Fish Fishchick Aquatics, Annerley QLD Grand Champion Exhibit of Show Peter Ford, Bald Hills QLD Grand Champion Betta Splenden of Show Uncledaeng, Thailand
18 2017 RNA ANNUAL REPORT ROYAL QUEENSLAND SHOW 2017 GRAND CHAMPIONS POULTRY Eric Dowdle Memorial Prize Supreme Grand Champion Fowl of Show Bantam Rhode Island - Red Cockerel, Mandy Bennett, Calliope QLD Muscovy - White Duck, Reuben Anthony (Tony) Stallwood, Logan Village Ivan Patava Memorial Prize Grand Champion Waterfowl of Show QLD Dempsey Bailey Memorial Prize Grand Champion Bantam of Show Bantam Rhode Island - Red Cockerel, Mandy Bennett, Calliope QLD Hy-Line School Egg Laying Overall Champion Kilcoy State High School, Kilcoy QLD DAIRY CATTLE Supreme Champion Dairy Cow Adadale Tequila Primrose 7, Paulger Family, Kenilworth QLD PRIME BEEF Grand Champion Pen Limousin Cross, TP & JE Surawski, Boonah QLD STUD BEEF The Warby Trophy Champion of Champions Breed Pair sponsored by COLINTA LEVI (AI) (P), Colinta Holdings Pty Ltd, Brisbane QLD SANTOS GLNG TCW LIVESTOCK KRISTAL, TCW Livestock, Delungra NSW The Bassingthwaighte Trophy Champion of Champions Bull sponsored by YARRAWONGA FIXER L664 (P), D & A D Bassingthwaighte & Co, SANTOS GLNG Wallumbilla QLD Champion of Champions Cow or Heifer sponsored by SANTOS GLNG FLEMINGTON CUPCAKE L3, Mount View Orchards Batlow, Batlow NSW INTERBREED CHAMPION (SMALL BREEDS) Interbreed Champion Bull Pittsworth Model, Pittsworth State High School, Pittsworth QLD Interbreed Champion Cow or Heifer JINGHI GULLY JIPSEY ROSE, Phil Labrie, Jandowae QLD LED STEER Grand Champion Led Steer Limousin, David Bartley, Warwick QLD Grand Champion Led Steer Carcass Limousin, Anthony O’Dwyer, Roadvale QLD DAIRY GOATS Supreme Champion Dairy Doe of Show Glendowen Maihya, Lesley & Tom Mcdowell, Morganville QLD ANGORA GOATS Grand Champion Angora Charly 020, Jacob Stevens, Wheatvale QLD SHEEP Supreme Champion Ram of Show DAKABIN PERCEUS, Dakabin State High School, Dakabin QLD Supreme Champion Ewe of Show Plainview 16, Peter & Pene Hood, Pittsworth QLD Supreme Champion Breeders Group of Show Peter & Pene Hood, Pittsworth QLD QUILTS ACROSS QUEENSLAND Best of Show A Sunburnt Country, Terri Ahrens, Clinton QLD FINE ARTS Grand Champion Entry - Cake Decorating Modern Wedding Cake, Brenden Clem, Aspley QLD Grand Champion Exhibit – Creative Art & Craft Victorian Christmas, Irene Saunderson, Westlake QLD Champion Portrait of Show – Painting & Drawing Rodney Cattle Man, Penelope Gilbert-Ng, Runcorn QLD Champion Sculpture Foxy, Mela Cooke, Indooroopilly QLD Champion Print – Photography Super Duper Moon, Geoff Rankin, Indooroopilly QLD AGRICULTURAL HALL Best Collection of Exhibits from the Districts Moreton District Exhibit Committee Inc. Champion Exhibitor – Home Grown Giant Vegetable Geoffrey Frohloff, Minden QLD APICULTURE Champion Honey of Show Ken Freiberg, Ipswich QLD FLOWER AND GARDEN Mabel Burnett Award for Most Effective Display Bromeliad Society of Qld, Fortitude Valley QLD Friends of Brisbane Botanic Gardens and Sherwood Arboretum, Colin Campbell Memorial Award for Most Educational Display Northgate QLD Award for Most Stunning Verge Garden Yeronga Community Gardens, Yeronga QLD Champion Potted Plant of Show Daphne Ludwig, Capalaba QLD
2017 RNA ANNUAL REPORT19 FOODIE MECCA
The Ekka hit the spot with foodies in 2017, with the premier food precincts staying open later until 9pm for the very first time.
This was to accommodate those who purchased the new Twilight Ticket, gaining entry to the show from 6pm.
Housing around 70 stalls, the Woolworths Fresh Food Pavilion was once again a foodie favourite, with coffee in a cone, funnel cakes and a craft beer alley some of the new additions.
While the Royal Queensland Steakhouse presented by JBS proved popular at its new location, serving more than 5,000 award-winning steaks. Previously housed at the back of the Royal International Convention Centre Halls, the Steakhouse moved to the Royal ICC foyer, closer to Gourmet Plaza. FAST FACTS FOOD & DRINK
DAGWOOD DOGS 185,000+
ICONIC STRAWBERRY SUNDAES 153,000+
$2 CHEESE TOASTIES 40,000+
CHIPS ON A STICK 10,000+
CWA SCONES 7,000+
AWARD-WINNING STEAKS 5,000+
SCHOONERS OF BEER 176,000
GLASSES OF WINE 33,000
EKKA’S LARGEST COMPETITIONS IN 2017
CANINE 2,295
HORSE 2,267
WOODCHOP & SAWING 2,015
POULTRY 1,689
STUD BEEF 1,284
PHOTOGRAPHY 1,240
CREATIVE ART & CRAFT 979
PAINTING & DRAWING 965
COOKERY 937
EDUCATION ON SHOW 854
20 2017 RNA ANNUAL REPORT A GREEN THUMB’S PARADISE
For the second year, The Old Museum was home to Ekka’s flourishing Flower and Garden precinct and Quilts Across Queensland.
The Old Museum came home to Ekka for the first time in 119 years in 2016. Originally built for the RNA, the Queensland Government took control of the building and grounds in 1897 when the RNA was forced into liquidation by the economic depression.
With the sun shining and above average August temperatures over the 10 days of show, the precinct was buzzing with a hive of activity from flower crown making and face painting to colourful potted plant and quilt displays and market stalls selling handmade products.
A highlight was the revived Community Stage presented by Colorbond Steel which returned to Ekka after a two year hiatus. Almost 40 dance troupes took to the stage to showcase their talents, while gardening gurus including Graham Ross from Better Homes and Gardens gave green thumbs plenty of tips.
Drawing a large crowd to the stage on People’s Day (August 16) was Ekka’s new Beard Competition. MC’d by television personality and landscape architect Costa Georgiadis, 12 men had their beards decorated by professional florists. The winner was decided through audience applause, with Phil Dahlenburg crowned the flower beard king.
DIGITAL
FACEBOOK FRIENDS 78,850
FACEBOOK REACH 1.5 MILLION PEOPLE
FACEBOOK LIVE REACH 375,700 PEOPLE
INSTAGRAM FOLLOWERS 11,900
#EKKA INSTAGRAM POSTS 77,484
TWITTER FOLLOWERS 7,646
SNAPCHAT VIEWS 1.09 MILLION
YOUTUBE VIEWS 7,600
QUEENSLAND’S LARGEST MARKETPLACE
ALLOCATED RETAIL SPACES 588
COMPANIES 389
FOOD AND BEVERAGE OUTLETS 135
COMMERCIAL OUTLETS 313
SHOWBAG STANDS 19
RIDES AND GAMES 110
IN THE CLASSROOM
EKKA LEARNING TRAIL BOOKLETS DISTRIBUTED 10,000
KIDS PARTICIPATED IN STREET SCIENCE 3,000
KIDS PARTICIPATED IN GET KIDS COOKING 2,000
2017 RNA ANNUAL REPORT21 ROYAL QUEENSLAND FOOD & WINE SHOW A PASSION FOR PRODUCE
OVERVIEW
The prestigious Royal Queensland Food and Wine Show (RQFWS) is dedicated to celebrating Australia’s finest produce and continues to unearth the nation’s top food and wine products year after year.
In 2017, the RQFWS attracted almost 3,400 entries across seven major competitions - the Branded Beef Competition; Branded Lamb Competition; Cheese and Dairy Produce Show; Ice Cream, Gelato and Sorbet Competition; Royal Queensland Wine Show (RQWS); Sausage King and Best Butchers Burger; and the Ham, Bacon and Smallgoods Competition.
The beef and lamb competitions are regarded as one of the most coveted and comprehensive of their kind, with combined entries increasing year on year for the past four years. The Ice Cream, Gelato and Sorbet Competition also continues to grow, with the number of entries received in 2017 up 12 per cent on 2016.
22 2017 RNA ANNUAL REPORT THIRD YEAR FOR DARLING DOWNS WAGYU
The Darling Downs did it again, with Wagyu produced in the region crowned Australia’s best steak for the third year in a row at the RQFWS Branded Beef and Lamb Competition presented by Super Butcher.
Stockyard’s Wagyu Kiwami, produced at Jondaryan, grilled 41 other entrants to take out the coveted John Kilroy Cha Cha Char Grand Champion Branded Beef of Show, which was won by Australian Agricultural Company’s (AACo) Darling Downs Wagyu in 2015 and 2016.
While Woodward Foods Australia claimed the title of Australia’s best lamb for their HRW Tasmanian Lamb product, which Chief Judge Elaine Millar described as having a balance of sweet juiciness, silky texture and complex yet delicate nutty and enoki mushroom flavours.
QUEENSLAND GELATERIA WHIPS THE FIELD
A Queensland gelateria scooped the title of Australia’s best ice cream for the second year in a row with a dark chocolate sorbet, at the RQFWS Ice Cream, Gelato and Sorbet Competition presented by Lendlease.
Milani House of Gelato, from Hamilton in Brisbane, beat 164 ice cream, gelato and sorbet entries to win the Grand Champion title, along with taking home all six champion awards.
While in the Cheese and Dairy Produce Show presented by Lendlease, Berrys Creek Gourmet Cheese from South Gippsland in Victoria won the Grand Champion title for the third year in a row with their Riverine Blue, made from buffalo milk.
Renowned international dairy expert and RQFWS Chief Judge Russell Smith described the blue cheese as consistently world-class.
2017 RNA ANNUAL REPORT23 2017 GRAND CHAMPIONS
BRANDED BEEF
THE JOHN KILROY CHA CHA CHAR GRAND CHAMPION BRANDED BEEF OF SHOW: Stockyard - Stockyard Wagyu Kiwami
BRANDED LAMB
CHAMPION BRANDED LAMB OF SHOW: Woodward Foods Australia - HRW Tasmanian Lamb
ICE CREAM, GELATO AND SORBET
MAJORS GROUP GRAND CHAMPION ICE CREAM, GELATO OR SORBET OF SHOW: Milani House of Gelato - Dark Chocolate Sorbet
CHEESE AND DAIRY
LENDLEASE GRAND CHAMPION DAIRY PRODUCT OF SHOW: Berrys Creek Gourmet Cheese - Riverine Blue
WINE
GRAND CHAMPION WINE OF SHOW TROPHY: Xanadu Wines - Xanadu Reserve Chardonnay 2015
NUMBER OF ENTRIES
BRANDED BEEF 42
BRANDED LAMB 28
CHEESE AND DAIRY 335
ICE CREAM, GELATO AND SORBET 165
WINE 1,608
HAM, BACON AND SMALLGOODS 134
SAUSAGE KING AND BEST BUTCHERS BURGER 1,061
24 2017 RNA ANNUAL REPORT CHARDONNAY SHINES AS THE FINEST WINE
Glasses were raised to a Margaret River Chardonnay, after being crowned Grand Champion Wine of Show at the Royal Queensland Wine Show (RQWS) Awards.
The Xanadu Wines Reserve Chardonnay 2015 was described by Chief Judge David Bicknell as being “as good as any Chardonnay in the world.”
The Margaret River wine region in Western Australia continued to turn heads, with the historic Stodart Trophy for Best Young Red of Show going to Deep Woods Estate for their Estate Cabernet Merlot 2015.
It was the first time in recent history a Cabernet Merlot had taken out the 2017 GRAND trophy, with Shiraz usually dominating. A NIGHT OF CELLAR-BRATING
Around 900 people raised their glasses to the newest wines from the nation’s best winemakers, at the third RQFWS Grape Grazing by Night - Celebrating Australian Wine event. CHAMPIONS Held at the Brisbane Showgrounds in early July, the exclusive event gave the public the rare chance to sniff, swirl and sample more than 1,600 top drops, including the RQWS award-winners and new vintage of season.
While toasting to the exceptional drops, the wine lovers indulged in award-winning produce from the RQFWS, with grazing stations featuring Australia’s best cheese, lamb and beef.
Grape Grazing by Night continues to grow in popularity each year, with tickets to the 2017 event selling out.
2017 RNA ANNUAL REPORT25 PLACEMAKING OUR BUSINESS
KING STREET The Yards. Designed by Cox Rayner, The Green was the first to be built, with more than 350 residents moving into the building in King Street is a vibrant retail and dining hub linking St Pauls Terrace September 2015. While The Yards was designed by award-winning and Gregory Terrace. Construction commenced in 2014, with the street architects Hayball, with the first residents taking up occupancy in June opening to traffic in February 2016. Retailers started progressively 2017. More than 400 people live in The Yard’s two towers and 11 opening in late 2016 and now more than 15 retailers, mostly terraces. restaurants, call the street home. RYDGES HOTEL THE PAVILION The four and a half star Rydges Hotel opened in February 2016. The The Pavilion will accommodate more than 1,600 head of cattle and other international hotel was developed by a consortium comprising Phillip large animals throughout Ekka, with partial use expected for the 2018 Wolanski’s Denwol Group of Sydney and Stewart Baron’s Baron show. Outside of Ekka, the four-storey pavilion will be used as a 650 Corporation of Melbourne. The $50 million hotel features 208 rooms, bay car park and event space. Work commenced in August 2017 and is the Six Acres Restaurant, the Paddock Bar, a swimming pool and a expected to be complete by late October 2018. gym.
25 KING KINGS CO-OP
At a height of almost 45 metres, 25 King will be the largest engineered Kings Co-op is a retail concept with a mix of uses including food and timber office building by gross floor area in the world. The building was beverage and childcare. It’s bordered by Gregory Terrace, King Street, designed by architect Bates Smart, with construction commencing in Machinery Street and Alexandria Lane and is supported by a five level, June 2017. It’s expected to be complete by late 2018. 375 bay car park. King Street Parking opened in August 2017, while Kings Co-op’s first retailers - Guardian Early Learning childcare and food MARQUEE 2 truck stop Welcome to Bowen Hills - opened in February 2018. More retailers will progressively open in Kings Co-op throughout 2018. Located in Sideshow Alley, Marquee 2 is the second marquee to be constructed at the Brisbane Showgrounds. It covers 2,250m2 of space KINGSGATE and will house the Woodchop and Sawing Competition at Ekka, along with numerous events outside of show. Construction took four months, Kingsgate is a commercial building on the corner of King Street and St finishing in March 2018. Pauls Terrace, which opened for business in June 2015. The nine-storey building is home to the Lendlease offices and several other companies, THE GREEN & THE YARDS with ground floor retail.
King Street is home to two residential apartments – The Green and
26 2017 RNA ANNUAL REPORT OVERVIEW Montrachet, cementing the street’s reputation as a foodie hot spot.
The $2.9 billion, Brisbane Showgrounds Regeneration Project started in More than 400 new residents also moved into King Street in 2017. 2010 and is one of the largest mixed-use, urban regeneration projects They occupied The Yards in June, which is the Brisbane Showgrounds’ in Australia. second residential apartment. To accommodate the growing number of visitors and residents, a five level, 375 bay King Street car park opened 2017 marked the seventh year of the project, which once complete to the public in August. will see more than 15,000 people live, work and play each day at the Brisbane Showgrounds – a world-class events and lifestyle precinct. New workers will also move into King Street soon. Construction commenced on the world’s largest engineered timber office building, 25 The continued revitalisation of the Showgrounds has already generated King, in June. Global engineering firm Aurecon has committed to leasing year round vitality throughout the precinct, while ensuring the Royal four of the nine office floors in the 45 metre high building and there will Queensland Show (Ekka) remains on the site where it first began in also be three ground level retail tenancies. 1876; and secures the long term viabilty of the RNA.
Stage one of the project, which commenced in 2011, saw the O’Connell Terrace / Sideshow Alley construction of the $59 million state-of-the-art Royal International Work commenced on The Pavilion in August. It will house more than Convention Centre (Royal ICC) and $7.7 million plaza and porte- 1,600 large animals throughout Ekka and be used as a 650 bay car cochere. The Royal ICC opened for business in 2013. park and event space outside of show. The Pavilion, located on the The RNA and project partner Lendlease then unveiled stage two of the O’Connell Terrace side of the Showgrounds, is scheduled to be finished project in 2014, which saw the development of King Street including by late October 2018, with partial use expected for the 2018 Ekka. the construction of The Green and The Yards residential apartments, commercial tower Kingsgate and a four and a half star Rydges Hotel. In November, work started on a second marquee for the Brisbane Stage two also included the progressive opening of food and retail Showgrounds, which is now complete. Located in Sideshow Alley, outlets in King Street, which is ongoing. Marquee 2 covers 2,250m2 of space and will house the Woodchop and Sawing Competition at Ekka 2018, along with numerous events outside Stage three of the project got underway in August 2016 and saw the of show. construction and completion of retail concept Kings Coop and its five level, 375 bay King Street car park. In August 2017, work commenced 2017 MILESTONES on The Pavilion – a four-storey pavilion on the O’Connell Terrace side of the Showgrounds to house large animals during Ekka and to be used ¢ Eight retailers opened in King Street - Super Combo and The as a car park and event space outside of show. It’s set to be finished Lamb Shop (March), The Pine Kitchen (May), Banoi (June), by late October 2018, with partial use expected for the 2018 Ekka. Emporium Barber (July), Salon Blend (August), Tigerlamb Stage three also included the construction and completion of a second (September) and Montrachet (December) marquee for the Brisbane Showgrounds in Sideshow Alley. ¢ Construction began on the world’s largest engineered timber office building, 25 King, in June 2017 ¢ The first residents moved into The Yards residential apartments in The seventh year of the regeneration project has continued to revitalise June the Brisbane Showgrounds precinct. ¢ The five level, 375 bay King Street car park opened to the public in August King Street ¢ Work on The Pavilion commenced in August King Street has seen the largest transformation, with eight new retailers ¢ Construction of Marquee 2 commenced in November opening their doors, bringing more visitors to the precinct. Five of the retailers were restaurants, including two-hat French restaurant
Artists impression of The Pavilion
2017 RNA ANNUAL REPORT27 KEY FACTS
LOCATION growth by creating more than 2,000 jobs over the life of the project.
Gregory Terrace, Bowen Hills, Brisbane, Australia - 1.5 kilometres from ECONOMIC BENEFITS the CBD. The regeneration project delivers an estimate of $300 million per year in INVESTMENT economic benefits to Queensland.
The project value of new residential/commercial/retail development SIZE is estimated at $2.9 billion. This is funded primarily by Lendlease and through a $65 million loan from the Queensland Treasury Corporation. 22 hectares and represents the largest Brownfield development of its kind in Australia. The project includes 340,000m2 of new residential, WHY commercial and retail buildings, together with an additional 76,000m2 of new development on RNA retained land. The RNA embarked on the redevelopment to firstly ensure the Ekka remains at its birthplace the Brisbane Showgrounds for future SIGNIFICANCE generations to enjoy while securing the long term financial viability of the association. The world-class regeneration of a famous landmark, synonymous with Queensland’s social heritage and culture, represents an historic The regeneration and updated state-of-the-art facilities have secured milestone for Brisbane. It’s not simply an urban renewal but rather a the Ekka's location at the Showgrounds. This means the Ekka is one transformation of 22 hectares, 1.5 kilometres from the CBD, into a of the only Royal Shows in the country to maintain its country and city vibrant year round destination. For the RNA and Lendlease, this once links by holding the show at its original inner-city location. The Ekka in a lifetime collaboration signals an opportunity to build a legacy for has and will continue to operate throughout the life of the Brisbane future generations to enjoy, by ensuring the iconic Ekka remains at its Showgrounds regeneration project. rightful birthplace while giving the Brisbane Showgrounds the facelift it richly deserves. The regeneration project will ensure the Brisbane JOB CREATION Showgrounds becomes the destination for fashion, design, lifestyle and The project is supporting Brisbane’s future economic and population culture, hosting world-class events and shows all year round.
28 2017 RNA ANNUAL REPORT NOV 2017 Construction commences on a second marquee (Marquee 2) for the Brisbane Showgrounds
SEP 2017 Hair salon, Tigerlamb, opens on King Street AUG 2017 The five level, 375 bay King Street Car Park opens to the public Work on The Pavilion (a large animal pavilion and car park) commences Beauty salon, Salon Blend, opens on King Street JULY 2017 Emporium Barber opens on King Street JUNE 2017 Construction begins on the world’s largest engineered timber building, 25 King Vietnamese restaurant Banoi opens on King Street The first residents move into The Yards residential apartments SEPT 2016 – MAY 2017 Restaurants open progressively in King Street – Sushi & Nori (Sep), Il Verde (Oct), Hello Chicken (Nov), Super Combo and The Lamb Shop (Mar), The Pine Kitchen (May) AUG 2016 Construction begins on Kings Co-op – a social, creative and community retail concept Restaurants The George and Fat Dumpling 2018 PLANNED WORKS* open on King Street FEB 2016 CONSTRUCTION OF THE PAVILION TO Four and a half star Rydges Hotel, including the BE COMPLETE BY LATE OCTOBER, Paddock Bar and Six Acres restaurant, opens WITH PARTIAL USE EXPECTED FOR for business THE EKKA IN AUGUST King Street opens to traffic and links St Pauls Terrace and Gregory Terrace
THE CREATION OF ALEXANDRIA PARK 2015 AND UPGRADE TO THE AVENUES First residents move into The Green (Sep) Kingsgate commercial sector opens (Jun) BUILDING 8 TO BEGIN IN SEPTEMBER Construction commenced on The Yards (Apr) Construction commenced on four and a half star CONSTRUCTION OF THE WORLD’S Rydges Hotel (Jan) LARGEST ENGINEERED TIMBER 2014 OFFICE BUILDING, 25 KING, TO BE Construction commenced on King Street (Nov) COMPLETE BY LATE 2018 ‘South Yard’ residential apartments released for sale four months ahead of schedule (Nov) MINOR UPGRADES TO OVAL NO. 2 TO Demolition of Commerce Building (Sep) GET UNDERWAY IN 2018 Completion of the Plaza (Oct) Construction commenced on commercial tower TRUNK SEWER WORKS UNDER THE Kingsgate and The Green residential apartments (Oct) MAIN ARENA, SERVICING THE 2013 PAVILION, TO BE COMPLETE IN 2018 Royal ICC opens for its first events (Mar)
MORE RETAILERS TO OPEN 2012 PROGRESSIVELY ON KING STREET Removal of the RNA Administration Building (Dec) THROUGHOUT THE YEAR Construction on the new 7,000m2 $7.7 million Plaza commenced (Dec) SIGNALISATION OF THE KING Ground floor of Royal ICC opened for exhibition STREET AND ST PAULS TERRACE space at Ekka 2012 (Aug) INTERSECTION TO BE COMPLETE BY 2011 LATE 2018 Construction began on transforming the Industrial Pavilion into the world-class $59 million Royal International Convention Centre (Apr) *numbers and timeframes are estimates only
2017 RNA ANNUAL REPORT29 ROYAL INTERNATIONAL CONVENTION CENTRE YOUR VENUE
OVERVIEW
The Brisbane Showgrounds is home to the state-of-the-art Royal prestigious Royal Queensland Food and Wine Show (RQFWS) and iconic International Convention Centre (Royal ICC). Royal Queensland Show (Ekka).
Designed by Cox Rayner Architects and constructed by Lendlease, The Royal ICC hosted 188 events in 2017, a slight increase on 2016. the Royal ICC features three halls with state-of-the-art rigging, seven These included the high profile PwC Federal Budget Breakfast attended adaptable meeting rooms, two boardrooms, an open foyer, 140 car parks by former Deputy Prime Minister of Australia Kim Beazley and the and cutting-edge catering facilities. Channel Nine Telethon which saw television personalities, actors and music greats raise money for charity. It’s popular for banquets, as it’s the only convention centre in Australia where guests can enjoy award-winning food and wine from the
30 2017 RNA ANNUAL REPORT GOT7 REASONS WHY K-POP SOUNDS BEST
More than 1,400 K-pop fans descend on the Royal ICC in April, for South Korean boy band GOT7’s Global Fan Meet.
Australia was the first leg of the global tour for six of the group’s seven members - JB, Mark, Jackson, Jinyoung, BamBam and Yugyeom - and their first time performing in the country. Their seventh member, Youngjae, couldn’t make it due to a back injury.
With more than 3.6 million Facebook followers, the K-pop group treated their dedicated Brisbane fans to brand new songs and performances.
ROYAL ICC FAST FACTS
THE $59 MILLION ROYAL ICC OPENED IN MARCH 2013
THE TWO-LEVEL BUILDING FEATURES THREE FLEXIBLE HALLS, SEVEN ADAPTABLE MEETING ROOMS, TWO BOARDROOMS AND AN OPEN FOYER
ITS CUSTOM BUILT OPERABLE CEILING GRID SYSTEM CREATES UNIQUE THEMING OPPORTUNITIES FOR CLIENTS
IT HAS A 1,200M2 WORLD-CLASS COMMERCIAL KITCHEN, INCLUDING AIR-O-STEAM COMBI OVENS, CAPABLE OF SERVING 1,200 PLATES IN 20 MINUTES
IT’S THE ONLY CONVENTION CENTRE IN AUSTRALIA THAT CAN OFFER CLIENTS AWARD-WINNING FOOD AND WINE FROM THE ROYAL QUEENSLAND FOOD AND WINE SHOW (RQFWS) AND ICONIC EKKA
THE ROYAL ICC FRONTS A REVITALISED 7,000M2 PLAZA, PROVIDING AN ADDITIONAL 1,500M2 OF EXHIBITION SPACE FOR EVENTS
2017 RNA ANNUAL REPORT31 BUDGET HEAVYWEIGHTS WEIGH IN
Some of Australia’s political heavyweights took to the stage at the Royal ICC in May, for the annual PwC Federal Budget Breakfast.
High profile speakers included former Deputy Prime Minister of Australia Kim Beazley, former Prime Minister of New Zealand John Key and Treasurer of Queensland Curtis Pitt, who weighed in on the federal budget.
The PwC Federal Budget Breakfast is the largest breakfast event held at the Royal ICC each year, taking around 6,000 eggs, 2,000 rashers of bacon, 700 avocados, 25 kilograms of feta cheese and 100 loaves of brioche bread to feed almost 1,900 people.
STARS RALLY TO HELP SICK KIDS
Television personalities, actors and music greats gathered at the Royal ICC in November, to help raise funds for sick kids as part of the Channel Nine Telethon.
Popular news presenters/reporters Sylvia Jeffreys and Peter Stefanovic co-hosted the fundraiser, with Grammy Award-winner Leo Sayer and singing sensation Dami Im part of the entertainment line-up.
With a target of raising $11 million for the Children’s Hospital Foundation, the telethon was broadcast across Queensland on Channel Nine, encouraging people to donate while also showcasing the venue.
The sold out Coffee Club Telethon Ball was also held in the Royal ICC, with 1,000 people sitting down to a three course menu featuring RQFWS award-winning produce.
DOG SHOW BOUNDS IN
Two of Australia’s most loved celebrity vets joined around 12,000 dog devotees at the Royal ICC in November, for the Dog Lovers Show.
Dr Chris Brown and Dr Katrina Warren headlined the two day show, which is one of the largest events in the world dedicated to canines.
Featuring more than 500 canines of all sizes and breeds, the Dog Lovers Show was a pooch paradise - visitors saw everything from skilful dogs performing frisbee tricks to Instagram famous hounds walking the red carpet.
32 2017 RNA ANNUAL REPORT TOP 10 LARGEST ATTENDED EVENTS AT THE ROYAL ICC*
TSXPO 20,000
SSAA SHOT EXPO 14,000
DOG LOVERS SHOW 12,000
GLUTEN FREE FOOD EXPO 6,000
GOLD COAST AIRPORT MARATHON - BRISBANE CHECK IN CENTRE 5,000
YOUR LOCAL WEDDING GUIDE BRIDAL EXPO 3,000
PWC FEDERAL BUDGET BREAKFAST 1,900
EHEALTH CONFERENCE AND EXHIBITION 1,800
ISAGENIX SUMMER KICK OFF 1,500
GOT7 GLOBAL FAN MEET 1,400
*numbers are approximate
2017 RNA ANNUAL REPORT33 BRISBANE SHOWGROUNDS PRECINCT
BRISBANE SHOWGROUNDS
The Brisbane Showgrounds offers the largest and most versatile range In 2017, 68 events were held in these spaces, with the largest the of indoor / outdoor event spaces in Queensland. Queensland Caravan, Camping and Touring Supershow, which attracted more than 50,000 people. Apart from the world-class Royal International Convention Centre (Royal ICC), the Showgrounds has nine other venues and spaces on In total, the Brisbane Showgrounds and Royal ICC hosted 256 events offer, which prove popular for outdoor events and festivals. in 2017, a slight increase on 2016.
QUEENSLAND’S LARGEST PROST TO AUSTRALIA’S CARAVAN SHOW SETS UP CAMP LARGEST OKTOBERFEST
More than 50,000 people made the trip to the Brisbane Showgrounds More than 40,000 pretzel lovers donned their Dirndl and Lederhosen in June, for the Queensland Caravan, Camping and Touring at the Brisbane Showgrounds in October, for Oktoberfest. Supershow. Over two weekends, Oktoberfest Brisbane transformed the Lovers of the great outdoors were in heaven, with more than Showgrounds into a mini Bavaria with hand-crafted German beers, 250 exhibitors showcasing the latest and greatest in caravans, traditional cuisine including pork knuckle, bratwurst and freshly motorhomes, camper trailers, slide-ons and camping accessories, baked pretzels, traditional folk music, yodellers, a new brewing over almost 45,000sqm of indoor/outdoor space. competition, rides and more.
The six day Supershow also featured seminars on topics such as tips For the very first time, a 24 metre high Oktoberpole stood tall at the for towing safely and preparing to travel, cooking demonstrations over Showgrounds – it was shipped from Germany and took 40 people to a campfire and a kids zone. assemble.
34 2017 RNA ANNUAL REPORT R&B SUPERSTARS HERE TO LANEWAY FESTIVAL FEVER HITS PARTY More than 10,000 music lovers rocked on at the Brisbane US popstar Kelly Rowland and UK singing sensation Craig David were Showgrounds in January, for St Jerome’s Laneway Festival. just some of the music royalty that took to the stage at the Brisbane The event featured a stellar line-up of local and international talent, Showgrounds in October, for the sold out RNB Fridays Live concert. including Nick Murphy (Chet Faker), Tame Impala and ARIA award- Around 22,000 people packed the Main Arena for Australia’s biggest winning rock band King Gizzard and the Lizard Wizard. R&B party, dancing to nostalgic chart toppers from the 90s and 00s Laneway, which began in 2004 and is now one of Australia’s most by some of the world’s hottest names in R&B. popular music festivals, has been holding the Brisbane leg of its tour Hosted by Fatman Scoop, the line-up included former Destiny’s Child at the Showgrounds since 2008. star Kelly Rowland, Craig David, Ne-Yo, Sean Paul, Kelis, En Vogue, Mario, Christina Milian, Monifah, Ruff Endz and DJ Horizon.
2017 RNA ANNUAL REPORT35 TOP 10 LARGEST ATTENDED EVENTS AT THE BRISBANE SHOWGROUNDS *
QUEENSLAND CARAVAN, CAMPING AND TOURING SUPERSHOW 50,000 OFFICE OKTOBERFEST BRISBANE 35,000
NATIONAL 4X4 OUTDOORS SHOW, FISHING & BOATING EXPO 25,000 LABOUR DAY FESTIVAL 25,000 BEARERS RNB FRIDAYS LIVE 22,000 PATRON THE FINDERS KEEPERS MARKETS 20,000 His Excellency PRE CHRISTMAS CARAVAN & CAMPING SALE 15,000 The Honourable Paul de Jersey AC Governor of Queensland ST JEROME'S LANEWAY FESTIVAL 10,000
BRISBANE BBQ FESTIVAL 10,000 PRESIDENT
BEER INCIDER EXPERIENCE 10,000 The Hon Justice D G Thomas
VICE-PRESIDENTS
D L O’Connor and A G Adnam
NEW BOOKING WEBSITE HONORARY TREASURER
Planning and booking events at the Brisbane Showgrounds and Royal S E McDonald ICC got a whole lot easier in February, with the launch of a combined booking website. COUNCIL The new booking site combined the Showgrounds and Royal ICC under the Brisbane Showgrounds brand, replacing the current E T G Allen websites and making it easier for users to plan their event online and L J Blumel make enquiries. R M Bower Up-to-date information, including on the 23 flexible event spaces on offer, the Royal ICC’s award-winning menu served nowhere else, D C Chandler plus the 10 car parking facilities on site, is provided in a format which gives clients and the general public a more user friendly, streamlined J Cotter experience. D J Fagan I W Ferguson I M Galloway M N Grieve S J Hennessey G G Kieseker P C Little AM D A McInnes R E McLay G J Noller W L Roberts C J Sinclair
*numbers are approximate Photograph courtesy of Bianca Holderness
36 2017 RNA ANNUAL REPORT QUEENSLAND CARAVAN, CAMPING AND TOURING SUPERSHOW 50,000 OFFICE OKTOBERFEST BRISBANE 35,000
NATIONAL 4X4 OUTDOORS SHOW, FISHING & BOATING EXPO 25,000 LABOUR DAY FESTIVAL 25,000 BEARERS RNB FRIDAYS LIVE 22,000 PATRON HONORARY COUNCILLORS THE FINDERS KEEPERS MARKETS 20,000 His Excellency A D Bassingthwaighte PRE CHRISTMAS CARAVAN & CAMPING SALE 15,000 The Honourable Paul de Jersey AC A G Brimblecombe AM Governor of Queensland ST JEROME'S LANEWAY FESTIVAL 10,000 T M Carew
BRISBANE BBQ FESTIVAL 10,000 PRESIDENT W T Cummins R H Douglas BEER INCIDER EXPERIENCE 10,000 The Hon Justice D G Thomas V E Edwards OAM VICE-PRESIDENTS T V Fairfax AC D L O’Connor and A G Adnam P S Harpham G J Hart AM HONORARY TREASURER P Kesby S E McDonald W R Lenehan J M McMillan COUNCIL L K Morris E T G Allen L F Robertson L J Blumel W T E Rothwell R M Bower W E Ryan D C Chandler J F Scott OAM J Cotter D C Sturrock D J Fagan M F Talbot I W Ferguson B D Vickers I M Galloway A Warby OAM M N Grieve
S J Hennessey CHIEF EXECUTIVE G G Kieseker B Christou P C Little AM D A McInnes AUDITOR
R E McLay J Evans of Pitcher Partners G J Noller ABN 41 417 513 726 W L Roberts Brisbane Showgrounds C J Sinclair 600 Gregory Terrace, Bowen Hills Queensland 4006 Locked Bag 1010, Albion Queensland 4101
Photograph courtesy of Bianca Holderness Telephone: +61 7 3253 3900
2017 RNA ANNUAL REPORT37 GOVERNANCE RNA EXECUTIVE COUNCIL
The Hon Justice Daniel (Dan) L O’Connor David Thomas SENIOR VICE-PRESIDENT PRESIDENT DipTchng (BCAE) BEdSt (Qld) LLB (QUT) BCom LLB Hons Qld LLM (Qld) FAIM MAICD David Thomas became the RNA President Dan O’Connor is Deputy President of the in 2011 after serving on the Council for nine Industrial Court of Queensland and a Deputy President of the years, the last two as Senior Vice-President. Queensland Industrial Relations Commission. He has been an He participates in all activities of the association and is Chair of the RNA Councillor since 2000, serving as Honorary Treasurer and Executive Committee and of the Council Nominations Committee. Junior Vice-President before being elected Senior Vice-President in Following Council convention, as President he is not a member of September 2011. He is actively involved in the RNA and oversees any council or show committee. many aspects of show planning including Chair of the Entertainment, and Appeals and Disciplinary Committees and a member of the David has more than 30 years experience as a lawyer. Previously House and In-Show Catering, Nominations, Horse and Arena, and Senior Partner at Minter Ellison Lawyers in Brisbane, he then served Sheep Dog Trials Committees. He is a former Trustee of The Royal as a Justice of the Supreme Court of Queensland for four years Agricultural Society of the Commonwealth and is involved in a before becoming a Justice of the Federal Court of Australia and the number of not-for-profit organisations, in particular a Trustee of the President of the Administrative Appeals Tribunal (AAT) in July 2017. Edinburgh Declaration Trust, a member of the Governing Council of From 2012 to October 2014 he served as the Deputy President of the Judicial Conference of Australia and Chairman of the Council of the Royal Agricultural Society of the Commonwealth (RASC) and the Anglican Church Grammar School. remains a Trustee of the RASC. He is Deputy Chair of Queensland Ballet and a Director of The Society of The Sacred Advent Schools Pty Ltd, which is the trustee of St Margaret’s and St Aidan’s Anglican Girls Schools. He recently retired as Chair of the Queensland Maritime Museum.
38 2017 RNA ANNUAL REPORT Angus G Adnam Susan McDonald JUNIOR HONORARY VICE-PRESIDENT TREASURER Managing Director of AAA Livestock B Com B Econ, CPA Services Pty Ltd, Angus Adnam has Susan McDonald was appointed to the RNA brought a wealth of experience and energy Council in October 2016. Ms McDonald to the RNA Council since his appointment is Managing Director of Super Butcher, a retail group of six stores in November 2005. An RNA Steward and Honorary Council and online butchers, serving 10,000 people a week in south-east Steward since 1978, he was elected Junior Vice-President in Queensland. Super Butcher is the retail arm of the McDonald family’s September 2011 and is a member of the Beef, Led and Prime cattle grazing and export business. With degrees in Commerce Cattle Committee. He is Chair of the RNA Wine Show Committee and Economics, and as a registered CPA, she has more than 20 and a board member of LiveCorp. years of experience in accountancy and business management. Ms McDonald brings a wealth of expertise to the RNA, particularly in the beef supply chain area and her knowledge of ‘paddock to plate’ retailing and production.
Professor Peter Little AM Catherine Sinclair LLB LLM Qld PhD Bond FAIM FCPA BSc MA Illinois DUniv FAICD FAIM Peter Little was elected to the RNA Council Catherine Sinclair joined the RNA Council in March 2009 and is a member of the in 2007, bringing extensive professional Executive, Audit, Development, Finance, experience in the corporate sector. She has Future Directions, and Industry and specific experience as a Board Director in Sponsorship Committees. He is also Chair transport, defence and the arts and has of the Education and the HR and Remuneration Committees. He is been a tribunal member in the primary industry sector. Having a an Emeritus Professor at the Queensland University of Technology, rural background, she is committed to ensuring a vibrant future for formerly a Deputy Vice-Chancellor, and holds a Bachelor of Laws the RNA. She is a member of the Executive, Ekka Show Legend, and Master of Laws from the University of Queensland and PhD Finance, and Industry and Sponsorship Committees and Chair of from Bond University Law School. He is a Fellow of CPA Australia, the Bush Poetry Committee. Her current positions are Director of the and Fellow of Queensland Academy of Arts and Sciences. He is a National Board of CEDA, and Director of The Consultancy Bureau Director of Ormiston College, a Director of the RACQ Foundation Pty Pty Ltd. Ms Sinclair was awarded an Honorary Degree of Doctor of Ltd and is a member of the Governing Committee of the Queensland the University by Griffith University in 2014 and a Centenary Medal in Business Leaders Hall of Fame. 2001.
Don Chandler B. Bus, Member AICD Don Chandler joined the RNA Council in June 2015. He is currently a Partner of national firm, Crestone Wealth Management. Crestone evolved following the successful buyout of UBS Wealth Management in Australia in June 2016. Mr Chandler joined UBS Wealth in November 2012, after a 21 year career with Ord Minnett. During his career, Mr Chandler has provided investment advice to a broad range of private and wholesale investors. He and his family have had a long association with the RNA and he is a member of the Audit, Charities, Industry and Sponsorship, and Pisciculture Committees. Mr Chandler is also Chair of the Education on Show and Poultry, Pigeons, Birds and Eggs Committees as well as Chair of the RNA Foundation, the RNA's charity arm. He is a former President of The Brookfield Show Society and is a Director of the Queensland Club Foundation, Chairman of the Brookfield Recreation Reserve Trust and a Non- Executive Chairman of a private Queensland family’s investment interests.
2017 RNA ANNUAL REPORT39 GOVERNANCE RNA COUNCIL
Liz Allen John Cotter BA, Dip Ag Admin BRTP GAICD FIML A Steward and Honorary Council Steward in John Cotter was appointed to the RNA the Stud Beef section since 2002, Ms Allen Council in July 2016. He has a long was elected to Council in 2014. She is a association with the RNA having been member of the Animal Boulevard, Beef Cattle a junior exhibitor, Beef and Woodchop and Meat Hall, Joint Stock and Branded Beef Steward and Honorary Council Steward, and Lamb Committees. She is also Chair of the Quilts Committee. and Chair of the Future Directions Committee. Mr Cotter manages Ms Allen, in partnership with family, operates a large-scale stud and Kinbombi Pastrol Company, breeding drought master beef cattle and commercial Santa Gertrudis beef operation at Blackall. She brings producing organic nutrients for soil & feedstock through phosphate extensive knowledge of the beef industry and event management to deposits near Mt Isa. He serves on the boards of Queensland Urban Council through her previous roles with the RNA, Meat & Livestock Utilities and the Powerhouse Theatre and is a member of the Appeals Australia, AgForce Queensland and Qld Primary Industries Week Inc. and Disciplinary Committee, Chair of the Industry and Sponsorship Committee and Chair of the Woodchop Committee. Lionel J Blumel David Fagan Lionel Blumel has been involved with the RNA as a Steward since 1986 and was BA, GAICD elected to the RNA Council in November David Fagan is Director of Corporate 2006. He is Chair of the Canine and Cats Transition at QUT where he runs projects that Committees and is a member of the help the university prepare for change. He is Charities, Ekka Show Legend, Entries, experienced in the digital and media worlds Space and Letting, Veterinary and Biosecurity and Animal Welfare, and was editor of The Courier-Mail then Animal Boulevard, and Joint Stock Committees. Mr Blumel is editor-in-chief of News Queensland for 11 years from 2002. During a committee member of the Samford Show Society and active that period the newspapers converted from print to multimedia member of his local community groups, working with people. As and took a leading role in the public debate on better development a retired building construction project manager with 43 years’ and better government for Queensland. He is the author of Wake experience, prior to retirement he managed a number of natural Up - The Nine H#shtags of Digital Disruption and sits on the board disaster recovery projects across Queensland. of Carers Queensland and QMusic. He is married and the father of three daughters. Rod Bower B. App. Sci. (Food Tech) MAIFST Ian Ferguson Rod Bower joined the RNA Council in BA Qld JP (Qual) October 2015 and is a member of the Ian Ferguson is a long standing member of Entertainment, Future Directions, Horse the RNA, joining the Council in 2007, after and Arena, and Joint Stock Committees. previously serving as an Honorary Ring He is a long standing member of the RNA Steward and Honorary Council Steward. and has been a Ring Steward and Honorary Council Steward in He is currently Chair of the Entries, Space the Horse and Arena section for more than 30 years. He served and Letting, and Horse and Arena Committees. He also serves on as the Chairman of the inaugural Future Directions Committee the Entertainment, Appeals and Disciplinary, HR and Remuneration, and has exhibited and stewarded in horse and cattle sections at a Veterinary, Biosecurity and Animal Welfare, Young Judges, and Joint number of Queensland and interstate shows. Mr Bower, a qualified Stock Committees. In 2015, he was appointed Ekka Ringmaster. Mr Food Technologist, is Managing Director for a family owned food Ferguson retired as an Inspector of Police at the Ethical Standards manufacturing business producing products for national and export Command and now undertakes a range of community activities. He markets. He has some 24 years’ experience in food manufacturing has a broad background of community involvement and currently and management, encompassing human resources, compliance, volunteers in youth projects at Carindale PCYC. information technology, food safety and quality systems.
40 2017 RNA ANNUAL REPORT Ian Galloway Duncan McInnes Ian Galloway joined the RNA Council in Duncan McInnes was elected to the RNA October 2014. Mr Galloway, a respected stud Council in November 2011. He brings cattle breeder from Roma, has served as extensive knowledge of the dairy industry President of the Australian Hereford Society, and is currently Chair of the Dairy Cattle Chairman of the Brangus World Congress and and Dairy Goats Committees. Mr McInnes, judged cattle in Royal Shows across Australia, in partnership with family, operates a large plus at international competitions. He’s currently a member of the dairy property 'Inverclyde’ at Harrisville, as well as an agriculture and RNA’s Beef and Dairy Cattle Committees. Mr Galloway operates the lucerne farm. He has recently retired as Chairman of Dairy Farmers Cootharaba Hereford, Duarran Brangus and Red Angus studs, plus Milk CoOp which represents 400 members across Australia and the Cootharaba Bonsmara Stud. The Cootharaba Hereford stud is spent 12 years as Director of Australian Co-operative Foods. He is Australia’s oldest - founded in 1926 by Ian’s grandfather JJ Galloway. also a Councillor for the Scenic Rim Regional Council and heavily involved with local community organisations.
Michael N Grieve Robin McLay BEd NT DipEd BCAE Robin McLay joined the RNA Council in Michael Grieve was elected to the RNA October 2015 and is Chair of the Flower Council in September, 2006. He is an and Garden Committee. She brings education professional and Thoroughbred extensive business and horticulture industry breeder and is Chair of the RNA’s Charities knowledge to the Council, through her past Committee. Outside of the RNA, he is a experience in various industries including committee member and Ringmaster of the Ipswich Show Society and agriculture, tourism, floristry, hospitality and horticulture. Mrs McLay executive member of the Thoroughbred Breeders of Qld. owns and operates a successful award-winning garden centre, which has been a NGIQ state winner for five consecutive years and in 2015 won the NGIA National Retailer and Business of the year Susan J Hennessey and Best Garden Centre. Susan Hennessey brings to the RNA Council considerable expertise in the area of fine arts Gary Noller and management. As an RNA exhibitor and Steward for many years, she was elected to A respected beef seed stock producer from the RNA Council in 2001. The first female the Darling Downs, Gary Noller was elected RNA Councillor elected to the Executive to the RNA Council in March 2010. Before Committee, serving on this committee from 2006 to 2010, she is becoming an RNA Councillor, he was an a past member of the Budget and Finance, and Marketing and active supporter of the association having Sponsorship Committees. She currently Chairs the Fine Arts and Ekka judged and exhibited at a number of Royal Show Legend Committees and is a member of the House and In- Queensland Shows. Mr Noller is Chair of the RNA’s Beef Cattle and Show Catering, Space and Letting, Entertainment, Young Judges and Meat Hall, Joint Stock, and Young Judges Committees and is a HR and Remuneration Committees. member of the Education and The Future and Digital Strategy, and Entries Committees. Gary Kieseker William Roberts Dip.T B.Ed William Roberts is a stud merino sheep Gary Kieseker was appointed to the RNA and cattle producer who joined the RNA Council in November 2012 after working Council in November, 2011, following years alongside the association in a consultancy of involvement at the Charleville Show position for the Royal International Convention and the Sheep Spectacular in Barcaldine, Centre. Mr Kieseker has had a distinguished Goondiwindi and Toowoomba. He operates career in international hotel management, convention management his property, Victoria Downs in Morven. Mr Roberts is a serving and tourism education and training. He is a leader in strategic human Councillor and former past President of the Queensland Merino resource management and has held senior executive management Stud Sheepbreeders’ Association Incorporated and past President positions with prominent international hotel groups, including of the Australian Association of Stud Merino Breeders. He has been Mandarin Oriental Hotel Group and Oberoi Hotels International. involved in showing and judging merino sheep around Australia. His expertise and career has spanned the globe, taking him to the Mr Roberts is currently Chair of the RNA’s Fleece Breeds and Boer United States, China, Russia, South Africa, Singapore, Indonesia, Goats Committee. Fiji, Malaysia, Hong Kong, the Philippines, Taiwan and Thailand. For the past 14 years, Mr Kieseker has been managing partner in the international consulting company, PG International Consulting Pty Ltd. He is also currently Chair of the RNA’s Agricultural Hall.
2017 RNA ANNUAL REPORT41 GOVERNANCE RNA MANAGEMENT
Brendan Christou Andrew Moore CHIEF EXECUTIVE CHIEF FINANCIAL OFFICER BBus QUT MBA Curtin CPA Brendan Christou was appointed Chief BCom BEc CPA MAICD Comm Dec Executive of the RNA in 2012, after serving Andrew Moore joined the RNA in early 2015 as Deputy Chief Executive / Chief Operating as Chief Financial Officer. He is responsible Officer since 2009. A Certified Practicing Accountant, Mr Christou for the association’s financial management, procurement, tax and started at the RNA in 2004 as the association’s Financial Controller. regulatory compliance, insurance, information technology and the His previous experience spans across the retail, engineering and commercial aspects of the Brisbane Showgrounds Regeneration financial services industries. He completed his Master of Business Project. As a senior executive with over 25 years’ experience in Administration from Curtin University in 2008. Mr Christou is also financial and commercial management, business development, a board member of the International Association of Fairs and capital raising, treasury operations and corporate governance, Mr Expositions (IAFE), a Director of Brisbane Open House and President Moore brings a wealth of experience to the RNA. His professional of the BDA - The Committee for Brisbane. career spans publicly listed and private companies, the not-for- profit sector and government enterprises across a diverse range of industries including events, energy, mining, sport, hospitality and education. Mr Moore is also an active member of the Queensland surf lifesaving community.
Veronica Carew Luke Pearl GENERAL MANAGER, GENERAL MANAGER, COMMUNICATIONS OPERATIONS Veronica Carew joined the RNA in April Luke Pearl joined the RNA in December 2010, bringing with her 18 years’ experience 2017, bringing with him a strong depth of in media and public relations. A strategic experience from the Hotel and Event precinct corporate communications manager Veronica sectors. Having worked nationally and has 15 years’ experience in the not-for-profit sector, at a state and internationally over the past 20 years Luke’s Executive Management national level, developing strategies and campaigns to promote the background includes Cluster Director of Revenue for Marriott Hotels interests of agriculture, education and the over 50s in the media. UK South, Director of Operations at Tudor Park, a Marriott Hotel and Previously Veronica spent eight years working as a journalist and Country Club, General Manager at Village Urban Resort London, editor in the Australian print media. In her current role at the RNA, General Manager at Stamford Plaza Brisbane and most recently Veronica is responsible for developing and implementing integrated General Manager at Accorhotels Sydney Olympic Park. communication strategies across traditional and digital mediums, digital content creation and branding, crisis management and public relations initiatives, media and issues management, and the management of internal and external communications.
42 2017 RNA ANNUAL REPORT Lloyd Dunn Barbara Perrott PROJECT DIRECTOR, GENERAL MANAGER, RNA HUMAN RESOURCES REDEVELOPMENT BCom (HRM) Griffith Qld BEng (civil) QUT Barbara Perrott joined the RNA in December Lloyd Dunn joined the RNA in February 2014. In the two years prior to her permanent 2010, in the position of Project Development Manager and moved to appointment Ms Perrott provided consulting services to the RNA, Project Director - RNA Development in March 2014. Over the past assisting with change management strategies and advice. Ms Perrott eight years, he has led the Brisbane Showgrounds Regeneration brings nearly 40 years of experience in the Queensland Public Sector. Project team in all aspects of the design and delivery of significant She worked at the senior executive level specialising in corporate RNA Core assets, as well as managed and coordinated the project services management, leading organisational change, organisational development with the development partner, Lendlease. Major development, human resource management and shared corporate milestones of the $2.9 billion regeneration project have included services. Immediately prior to the RNA, she provided management the approval of the masterplan and subsequent relevant Authority consulting services to small/medium organisations aimed at coordination, completion of the $59 million Royal International improving leadership, strategy, culture and general management Convention Centre in 2013 and associated Public Realm spaces, practices. the completion of King Street in 2016, the opening of the four and a half star Rydges Hotel in 2016 and the commencement of the world first multi-level cattle pavilion in late 2017. Mr Dunn has an impressive diversified background, with roles including Construction Management, Project Management and Development Management for major organisations including Fletcher Constructions Australia, Multiplex, Project Strategies Australia, Austcorp and Stockland.
Stephen Galbraith Jago Coyle GENERAL MANAGER, GENERAL MANAGER, ROYAL QUEENSLAND VENUE SALES & SHOW AND ROYAL MARKETING QUEENSLAND FOOD Jago Coyle joined the RNA in 2015, bringing & WINE SHOW a depth of experience from the hotel and Stephen Galbraith joined the RNA in July 2012, in the newly created events industries, both nationally and position of General Manager, Royal Queensland Show (Ekka) and internationally. Prior to being appointed to General Manager of Venue Royal Queensland Food and Wine Show (RQFWS). He has almost Sales and Marketing at the RNA, Mr Coyle was the Director of Sales 30 years’ experience in the operation and management of events, and Marketing at both the Sofitel and Marriott Hotels in Brisbane, tourism and leisure attractions, including Village Roadshow Theme Director of Sales and Marketing at the London Marriott and Executive Parks on the Gold Coast and Asia’s Sunway Group - CEO of the Apartments West India Quay, Canary Wharf London. He has also leisure arm which included theme, water and animal parks such had experience as a Deputy General Manager in hotels, a Director as Sunway Lagoon in Kuala Lumpur. Mr Galbraith has worked of Rooms and Director of Food and Beverage in various hotels, but throughout Australia, Malaysia, Singapore, Vietnam, Hong Kong, started his professional life as a chef for eight years. China and the Middle East. His role with the iconic Ekka has been in operation and business strategy management and development, to assist the rejuvenation of Queensland’s largest and most loved annual event.
2017 RNA ANNUAL REPORT43 GOVERNANCE COUNCILLORS’ REPORT
44 2017 RNA ANNUAL REPORT THE ROYAL NATIONAL AGRICULTURAL AND INDUSTRIAL ASSOCIATION OF QUEENSLAND
COUNCILLORS' REPORT FOR THE YEAR ENDED 31 DECEMBER 2017
The Councillors present their report together with the financial report of The Royal National Agricultural and Industrial Association of Queensland (“the RNA”) for the year ended 31 December 2017 and auditors report thereon.
The names of the Councillors in office at any time during or since the end of the year are:
EXECUTIVE COMMITTEE COUNCIL MEETINGS YEAR OF MEETINGS COUNCIL MEMBERS APPOINTMENT ELIGIBLE NUMBER ELIGIBLE NUMBER TO ATTEND ATTENDED TO ATTEND ATTENDED
Mr A G Adnam – Junior Vice President 2005 7 7 5 4
Ms E T G Allen 2014 7 6
Mr L J Blumel 2006 7 5
Mr R Bower 2015 7 6
Mr D Chandler (3) 2015 7 6 4 3
Mr J Cotter 2016 7 6
Mr D Fagan (4) 2017 4 4
Mr I W Ferguson 2007 7 7
Mr I M Galloway 2014 7 5
Mr M N Grieve 2006 7 5
Mrs S J Hennessey 2001 7 6
Mr G G Kieseker 2012 7 5
Prof P C Little AM 2009 7 5 5 3
Mr D A McInnes 2011 7 6
Ms S McDonald – Honorary Treasurer (2) 2016 7 7 4 4
Mrs R McLay 2015 7 6
Mr G J Noller 2010 7 6
Mr D L O’Connor – Senior Vice President 2000 7 7 5 5
Mr W L Roberts 2011 7 5
Mr W T Rothwell – Honorary Treasurer (1) 2013 2 2 1 1 COUNCILLORS’ Ms C J Sinclair 2007 7 7 5 5 Hon Justice D G Thomas – President 2002 7 7 5 5
Notes: 1. Retired April 2017 REPORT 2. Appointed as Honorary Treasurer and to Executive Committee April 2017 3. Appointed to Executive Committee March 2017 4. Appointed May 2017
The Councillors have been in office since the start of the year to the date of this report unless otherwise stated.
2017 RNA ANNUAL REPORT45 46 2017 RNA ANNUAL REPORT RESULTS AND OPERATIONS
The surplus of the association for the year amounted to $3,719,837 (2016 surplus: $1,193,258).
As in prior years, the results for 2017 have been significantly affected by the realisation of asset sale proceeds from the first stages of the redevelopment, offset by the continued recognition of Interest on the loan and depreciation for the Convention Centre. These items do not affect the working cash flow of the business. The critical measure of Earnings before Interest, Tax, Depreciation and Amortisation (EBITDA) was a surplus of $1,250,423 in the year (2016 surplus of $85,424). This value excludes the net redevelopment revenue and expenses recognised of $7,864,766 (2016: $5,846,619) and net compensation revenue of $1,429,094 (2016: $2,915,674)
The closing cash position (including term deposits) of the RNA was $3,490,949 (2016: $3,209,817). The RNA has established a working capital facility with QTC of $3 Million which was undrawn at year end. The RNA cash position was anticipated as the RNA continues to invest in the Redevelopment.
STRATEGIC DIRECTION OF THE COMPANY
The RNA’s mission is to celebrate and champion the essential role agriculture plays in the everyday lives of Queenslanders.
The RNA’s vision focuses on the ongoing successful staging of the Ekka at the Brisbane Showgrounds, establishing the Brisbane Showgrounds and the Royal International Convention Centre (Royal ICC) as Queensland’s leading events venues, and transforming the Brisbane Showgrounds precinct into a destination.
The RNA has also embarked on a redevelopment program to transform the Showgrounds into a vibrant mixed use precinct that is utilised all year round. The redevelopment will also provide the RNA with new and improved exhibition facilities as well as other income generating assets which form a significant part of the RNA diversification strategy.
PRINCIPAL ACTIVITIES
The principal activity of the association is to provide facilities and personnel to celebrate and champion the essential role agriculture plays in the everyday lives of Queenslanders.
The RNA achieves its objectives via a number of means, however, its primary method is through the staging of the Royal Queensland Show in August each year. The Show is the state’s premier exhibition of Queensland’s primary industries.
No significant change in the nature of these activities occurred during the year.
COUNCILLORS’ REMUNERATION
Councillors’ receive no remuneration for their services.
INDEMNIFICATION OF COUNCILLORS AND OFFICERS
The RNA has agreed to reimburse the reasonable costs (including but not limited to legal fees) incurred by any current or past Councillor or Officer in relation to the performance of his or her duties as a Councillor or Officer of the RNA provided:
(i) the person is not charged with any offence, or if charged, is subsequently acquitted of all charges;
(ii) any investigations or hearings do not reveal conduct by that person which constitutes conduct which breaches that person’s fiduciary relationship with the RNA whether that person is charged or not or convicted or not;
(iii) the person’s conduct is not unbecoming of a person holding the position, which that person held at the time of the conduct.
The level of such reimbursement is to be set by the Executive Committee.
The RNA has paid insurance premiums for Councillor’s and Officers’ Insurance since the end of the previous year. The Councillors have not included details of the nature of the liabilities covered or the amount of the premium paid in respect of the Councillors’ and Officers’ liability and legal expenses insurance contracts as such disclosures is prohibited under the terms of the contract.
Signed in accordance with a resolution of the members of the Council.
Council member: Justice D G Thomas ‑ President
Council member: Ms S McDonald ‑ Honorary Treasurer Dated this 1st day of March 2018
2017 RNA ANNUAL REPORT47 STATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR ENDED 31 DECEMBER 2017
NOTES 2017 2016
REVENUE
Ground operations and venue rental 15,192,256 12,604,456
Show operations 14,625,352 15,310,654
Membership subscription 373,692 400,397
Redevelopment income 3 14,082,258 11,187,652
Net compensation revenue 3 1,429,094 2,915,674
Other revenue 1,575,435 919,868
TOTAL REVENUE 47,278,087 43,338,701 LESS: EXPENSES
Ground operations and venue costs ( 7,76 0,4 40) (6,909,538)
Show operations costs (4,628,436) (4,744,532)
Depreciation and amortisation expense 3 (3,219,464) (3,769,005)
Employee benefits expense (13,039,268) (12,324,520)
Finance costs 3 (3,604,982) (3,885,454)
Showgrounds maintenance (1,232,845) (1,332,347)
Other expenses (3,855,323) (3,839,014)
COGS – Redevelopment 3 (6,217,492) (5,341,033)
TOTAL EXPENSES (43,558,250) (42,145,443)
PROFIT / (LOSS) BEFORE INCOME TAX EXPENSE 3,719,837 1,193,258 Income tax expense - -
PROFIT / (LOSS) FOR THE YEAR 3,719,837 1,193,258 Other comprehensive income for the year - -
TOTAL COMPREHENSIVE PROFIT / (LOSS) 3,719,837 1,193,258
The accompanying notes form part of these financial statements
48 2017 RNA ANNUAL REPORT STATEMENT OF FINANCIAL POSITION FOR THE YEAR ENDED 31 DECEMBER 2017
NOTES 2017 2016
CURRENT ASSETS
Cash and cash equivalents 4 3,490,949 3,209,817
Receivables 5 6,331,085 3,417,56 8
Inventories 6 131,973 95,674
Redevelopment work in progress 9 619,913 879,391
Other assets 7 4,902,862 4,388,068
TOTAL CURRENT ASSETS 15,476,782 11,990,518 NON‑CURRENT ASSETS
Receivables 5 5,133,091 6,546,359
Intangible assets 8 126,356 31,954
Redevelopment work in progress 9 7,324,418 7,346,369
Property, plant and equipment 10 76,334,277 72,538,293
TOTAL NON‑CURRENT ASSETS 88,918,142 86,462,975
TOTAL ASSETS 104,394,924 98,453,493 CURRENT LIABILITIES
Payables 11 5,496,800 3,937,078
Borrowings 12 4,927,4 3 3 4,630,670
Provisions 13 1,767,925 1,874,932
Other liabilities 14 13,588,379 12,106,272
TOTAL CURRENT LIABILITIES 25,780,537 22,548,952 NON‑CURRENT LIABILITIES
Borrowings 12 59,633,597 58,320,115
Provisions 13 1,398,508 660,032
Other liabilities 14 12,356,850 15,418,799
TOTAL NON‑CURRENT LIABILITIES 73,388,955 74,398,946
TOTAL LIABILITIES 99,169,492 96,947,898
NET ASSETS 5,225,432 1,505,595 MEMBERS FUNDS
Reserves 15 421,550 341,723
Accumulated surplus 4,803,882 1,163,872
TOTAL MEMBERS FUNDS 5,225,432 1,505,595
The accompanying notes form part of these financial statements
2017 RNA ANNUAL REPORT49 STATEMENT OF MEMBERS’ FUNDS FOR THE YEAR ENDED 31 DECEMBER 2017
RESERVES ACCUMULATED TOTAL EQUITY $ SURPLUS $ $
BALANCE AS AT 1 JANUARY 2016 276,350 35,987 312,337 Profit / (Loss) for the year - 1,193,258 1,193,258
TOTAL COMPREHENSIVE INCOME FOR THE YEAR - 1,193,258 1,193,258 Transfers to reserves 65,373 (65,373) -
Balance as at 31 December 2016 341,723 1,163,872 1,505,595
BALANCE AS AT 1 JANUARY 2017 341,723 1,163,872 1,505,595
PROFIT / (LOSS) FOR THE YEAR - 3,719,837 3,719,837 Total comprehensive income for the year - 3,719,837 3,719,837
TRANSFERS TO RESERVES 79,827 (79,827) -
BALANCE AS AT 31 DECEMBER 2017 421,550 4,803,882 5,225,432
The accompanying notes form part of these financial statements
The accompanying notes form part of these financial statements
50 2017 RNA ANNUAL REPORT STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2017
NOTES 2017 2016
CASH FLOW FROM OPERATING ACTIVITIES
Receipts from customers 32,365,385 3 3,217,371
Payments to suppliers and employees (30,852,671) (32,340,560)
Interest received 68,641 50,690
Finance costs (9,689) (10,575)
NET CASH PROVIDED BY / (USED IN) OPERATING ACTIVITIES 17 1,571,666 916,926 CASH FLOW FROM INVESTING ACTIVITIES
Payment for property, plant and equipment and intangible assets (7,372,305) (900,819)
Payments for land held for resale (378,398) (395,562)
Proceeds from sale of property, plant and equipment 8,000 -
Proceeds from sale of land 15,626,272 11,902,547
Proceeds from (Payments to) Lend Lease (1,138,820) (2,202,000)
NET CASH PROVIDED BY / (USED IN) INVESTING ACTIVITIES 6,744,749 8,404,166 CASH FLOW FROM FINANCING ACTIVITIES
Principal and Interest paid on QTC Loan (8,035,283) (8,896,601)
NET CASH USED IN FINANCING ACTIVITIES (8,035,283) (8,896,601) RECONCILIATION OF CASH
Cash at beginning of the financial year 3,209,817 2,785,326
Net increase / (decrease) in cash held 281,132 424,491
CASH AT END OF FINANCIAL YEAR 4 3,490,949 3,209,817
The accompanying notes form part of these financial statements
The accompanying notes form part of these financial statements
2017 RNA ANNUAL REPORT51 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2017
NOTE 1: STATEMENT OF SIGNIFICANT ACCOUNTING POLICIES
The Royal National Agricultural and Industrial Association of Queensland (“the Association”) is a body corporate under the Royal National Agricultural and Industrial Association of Queensland Act 1971 (the “RNA Act”) as amended. The financial report was approved by the Council as at the date of the Councillors’ report. The following is a summary of the material accounting policies adopted by the association in the preparation and presentation of the financial report. The accounting policies have been consistently applied, unless otherwise stated.
(a) Basis of preparation of the financial report The financial report is a general purpose financial report that has been prepared in accordance with Australian Accounting Standards ‑ Reduced Disclosure Requirements, Interpretations and other authoritative pronouncements of the Australian Accounting Standards Board and the RNA Act. The RNA is a not‑for‑profit entity for the purpose of preparation of the financial statements. Compliance with Australian Accounting Standards ‑ Reduced Disclosure Requirements The financial statements of the RNA comply with the Australian Accounting Standards ‑ Reduced Disclosure Requirements as issued by the Australian Accounting Standards Board. New and amended standards adopted by the Association None of the new standards and amendments to standards that are mandatory for the first time for the financial year beginning 1 January 2017 affected any of the amounts recognised in the current period or any prior period and are not likely to affect future periods. Historical Cost Convention The financial report has been prepared under the historical cost convention, as modified by revaluations to fair value for certain classes of assets as described in the accounting policies.
(b) Revenue Revenue from sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer and the costs incurred or to be incurred in respect of the transaction can be measured reliably. Risks and rewards of ownership are considered passed to the buyer at the time of delivery of the goods to the customer. Royal Queensland Show and Ground Operations and Venue revenue is recognised in the year it is earned. Other revenue includes revenue from car parking, special exhibition charges, signage revenue and sundry revenue and is recognised on an accruals basis. Revenue from the rendering of services is recognised upon the delivery of the service to the customers. Interest revenue is recognised when it becomes receivable on a proportional basis taking in to account the interest rates applicable to the financial assets. Capital grants and subsidies are recognised in profit or loss when control is obtained, usually upon receipt of cash. Income arising from the contribution of an asset to the entity is recognised when, and only when, all of the following conditions have been satisfied: (i) the entity obtains control of the contribution or the right to receive the contribution; (ii) it is probable that the economic benefits comprising the contribution will flow to the entity; and (iii) the amount of the contribution can be measured reliably. Contribution income is measured at the fair value of the contributions received or receivable. If conditions attach to a contribution, the recognition is deferred until the conditions are satisfied. All revenue is stated net of the amount of goods and services tax (GST).
(c) Income tax No provision for income tax has been raised as the association is exempt from income tax under Section 50‑40 of the Income Tax Assessment Act 1997.
(d) Cash and cash equivalents Cash and cash equivalents include cash on hand and at banks and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities in the statement of financial position.
(e) Inventories Inventories are measured at the lower of cost and net realisable value. Inventories are primarily consumable stores used by the RNA in its operations.
(f) Financial instruments Classification The RNA classifies its financial assets into the following categories: financial assets at fair value through profit and loss, loans and receivables, held‑to‑maturity investments, and available‑for‑sale financial assets. The classification depends on the purpose for which the instruments were acquired. Management determines the classification of its financial instruments at initial recognition.
52 2017 RNA ANNUAL REPORT Non‑derivative financial instruments Non‑derivative financial instruments consist of investments in equity and debt securities, trade and other receivables, cash and cash equivalents, loans and borrowings, and trade and other payables.
Non‑derivative financial instruments are initially recognised at fair value, plus directly attributable transaction costs (if any), except for instruments recorded at fair value through profit and loss. After initial recognition, non‑derivative financial instruments are measured as described below.
Held‑to‑maturity investments Fixed term investments intended to be held to maturity are classified as held‑to‑maturity investments. They are measured at amortised cost using the effective interest rate method.
Loans and receivables Loans and receivables are measured at fair value at inception and subsequently at amortised cost using the effective interest rate method.
Available‑for‑sale Available‑for‑sale financial assets include any financial assets not included in the above categories and are measured at fair value. Unrealised gains and losses arising from changes in fair value are taken directly to equity. The cumulative gain or loss is held in equity until the financial asset is de‑recognised, at which time the cumulative gain or loss held in equity is recognised in profit and loss.
Financial liabilities Financial liabilities include trade payables, other creditors and loans from third parties.
Non‑derivative financial liabilities are recognised at amortised cost, comprising original debt less principal payments and amortisation.
Financial liabilities are classified as current liabilities unless the group has an unconditional right to defer settlement of the liability for at least twelve months after the reporting period
(g) Property, plant and equipment Each class of property, plant and equipment is carried at cost or fair value less, where applicable, any accumulated depreciation and any accumulated impairment losses.
Property Property is measured on a cost basis.
Plant and equipment Plant and equipment is measured on a cost basis.
The carrying amount of plant and equipment is reviewed annually by Council to ensure it is not in excess of the recoverable amount from those assets. The recoverable amount is assessed on the basis of the expected net cash flows which will be received from the assets employment and subsequent disposal. The expected net cash flows have been discounted to present values in determining recoverable amounts.
Depreciation The depreciable amount of all fixed assets are depreciated over their estimated useful lives commencing from the time the asset is held ready for use. Land and the land component of any class of fixed asset is not depreciated.
Freehold land and buildings are carried at cost or at independent or Council valuation.
CLASS OF FIXED ASSET DEPRECIATION RATES DEPRECIATION BASIS
Buildings at cost 2‑26% Straight line
Plant and equipment at cost 2‑33% Straight line
Sub‑stations and electrical equipment 5‑20% Straight line
(h) Land held for resale Non‑current assets are classified as held for sale if their carrying amount will be recovered principally through a sale transaction rather than through continuing use and a sale is considered highly probable. They are measured at the lower of their carrying amount and fair value less costs to sell.
(i) Intangibles Other intangibles Intangible assets consist of computer software acquired to assist in managing the operations of the Association. Software assets are initially recorded at the purchase price. Other intangible assets are amortised on a straight line basis over the period of 3‑5 years. The balances are reviewed annually and any balance representing future benefits the realisation of which is considered to be no longer probable are written off.
(j) Impairment Assets with an indefinite useful life are not amortised but are tested annually for impairment in accordance with AASB 136. Assets subject to annual depreciation or amortisation are reviewed for impairment whenever events or circumstances arise that indicate that the carrying amount of the asset may be impaired.
2017 RNA ANNUAL REPORT53 An impairment loss is recognised where the carrying amount of the asset exceeds its recoverable amount. The recoverable amount of an asset is defined as the higher of its fair value less costs to sell and value in use.
(k) Provisions Provisions are recognised when the association has a legal or constructive obligation, as a result of past events, for which it is probable that an out flow of economic benefits will result and that outflow can be reliably measured.
(l) Leases Leases are classified at their inception as either operating or finance leases based on the economic substance of the agreement so as to reflect the risks and benefits incidental to ownership. Operating leases Lease payments for operating leases, where substantially all the risks and benefits remain with the lessor, are recognised as an expense on a straight‑line basis over the term of the lease. Lease incentives received under operating leases are recognised as a liability and amortised on a straight‑line basis over the life of the lease term.
(m) Employee benefits (i) Short‑term employee benefit obligations Liabilities arising in respect of wages and salaries, annual leave, accumulated sick leave and any other employee benefits expected to be wholly settled within twelve months of the reporting date are measured at their nominal amounts based on remuneration rates which are expected to be paid when the liability is settled. The expected cost of short‑term employee benefits in the form of compensated absences such as annual leave and accumulated sick leave is recognised in the provision for employee benefits. All other short‑term employee benefit obligations are presented as payables. (ii) Long‑term employee benefit obligations Liabilities arising in respect of long service leave and annual leave which is not expected to be settled within twelve months of the reporting date are measured at the present value of the estimated future cash outflow to be made in respect of services provided by employees up to the reporting date. Employee benefit obligations are presented as current liabilities in the balance sheet if the entity does not have an unconditional right to defer settlement for at least twelve months after the reporting date, regardless of when the actual settlement is expected to occur.
(n) Borrowing costs Borrowing costs can include interest, amortisation of discounts or premiums relating to borrowings and ancillary costs incurred in connection with arrangement of borrowings. Borrowing costs are expensed as incurred, except for borrowing costs incurred as part of the cost of the construction of a qualifying asset which are capitalised until the asset is ready for its intended use or sale.
(o) Goods and services tax (GST) Revenues, expenses and assets are recognised net of the amount of GST, except where the amount of GST incurred is not recoverable from the Tax Office. In these circumstances the GST is recognised as part of the cost of acquisition of the asset or as part of an item of the expense. Receivables and payables in the statement of financial position are shown inclusive of GST. Cash flows are presented in the statement of cash flows on a gross basis, except for the GST component of investing and financing activities, which are disclosed as operating cash flows.
(p) Comparatives Where necessary, comparative information has been reclassified and repositioned for consistency with current year disclosures.
(q) Trust funds The RNA from time to time receives monies from third parties to be held in trust and used for specific prize payments where the particular prize is eligible to be paid. These monies accrue interest at the average term deposit rate with any prizes paid deducted from the balance of the trust fund.
(r) Net Current Asset Position At 31 December 2017 the Association’s current liabilities exceed its current assets by $10,303,755 (2016: $10,558,534). Current liabilities include borrowings of $4,927,433 (2016: $4,630,670). The repayments on the QTC loan (refer note 12) will be funded by Lend Lease by way of Advance Land Payments through the RNADF as stipulated under the Project Development Agreement (PDA). Prepaid Land Entitlements – The Yards, The Green and K1 (refer Note 14) consist of Land Entitlements paid by Lend Lease in 2016 and 2017 prior to The Yards, The Green and K1 property settlements which will occur in future periods. This prepayment will be taken up as revenue when property settlements occur.
(s) Sinking fund The RNA entered into a Site Management Agreement in 2016 which provides governance over the shared Brisbane Showgrounds precinct public realm. Under this agreement, a Sinking Fund containing contributions from each property across the Brisbane Showgrounds Precinct has been established to provide funds for future capital maintenance and improvements in public realm areas.
54 2017 RNA ANNUAL REPORT NOTE 2: CRITICAL ACCOUNTING ESTIMATES AND JUDGEMENTS
Certain accounting estimates include assumptions concerning the future, which, by definition, will seldom represent actual results. Estimates and assumptions based on future events have a significant inherent risk, and where future events are not as anticipated there could be a material impact on the carrying amounts of the assets and liabilities discussed below: (a) Impairment All assets are assessed for impairment at each reporting date by evaluating whether indicators of impairment exist in relation to the continued use of the asset by the RNA. If an indicator of impairment exists the recoverable amount of the asset is determined. (b) Useful lives of property, plant and equipment Useful lives of property, plant and equipment are based upon expectations of the consumption of the assets at their acquisition date and are re‑assessed annually. The actual useful lives of property, plant and equipment may vary for various reasons from the useful lives adopted for depreciation purposes.
NOTE 3: OPERATING SURPLUS
2017 2016
PROFIT / (LOSS) BEFORE INCOME TAX HAS BEEN DETERMINED AFTER:
Net gain on disposal of non‑current assets:
‑ Profit / (Loss) on sale or disposal of property, plant and equipment (80,099) (38,124)
- Redevelopment Net Revenue – K1 465,120 434,265
‑ Redevelopment Net Revenue - The Green (108,131) 10,753,387
- Redevelopment Net Revenue - The Yards 13,725,269 -
14,082,258 11,187,652 Cost of Goods Sold - Redevelopment
‑ Land held for resale - expensed 659,827 494,280
- Duties and Taxes 4,658,865 4,134,153
- Lend Lease Performance Payments 898,800 712,600
6,217,492 5,341,033
Net gain on Compensation claims 1,429,094 2,915,674 Depreciation
‑ Buildings 1,832,682 2,159,379
‑ Plant and equipment 1,332,789 1,445,626
‑ Sub‑stations and electrical equipment 27,3 6 3 27,16 0
3,192,834 3,632,165 Amortisation of non‑current assets
‑ Software 26,630 136,840
Bad debts
‑ Trade receivables 49,562 14,537
Finance costs
- Interest and Finance charges paid/payable for financial liabilities not at fair value through the profit and loss 3,604,982 3,885,454
2017 RNA ANNUAL REPORT55 NOTE 4: CASH AND CASH EQUIVALENTS
2017 2016
Cash on hand 22,566 30,189
Cash at bank 3,468,383 3,179,628
3,490,949 3,209,817
NOTE 5: RECEIVABLES
2017 2016
CURRENT
Trade receivables 3,550,469 714,819
Provision for impairment (37,471) (11,761)
3,512,998 703,058 Other receivables 29,827 14,180
GST receivable 909,862 116,276
Land Entitlements – The Green - 2,584,054
Land Entitlements – K1 commercial tower (a) 1,878,398 -
6,331,085 3,417,568 NON CURRENT
Net Redevelopment Receivable – K1 commercial tower (a) 5,133,091 6,546,359
(a) Net Redevelopment Receivable – K1 commercial tower K1 commercial tower settled in the 2015 year. The non-current Net receivable is the Net Present Value of Land Entitlements offset by development fees and payments owed to Lend Lease. Monies will be paid into RNADF in the years 2018 and 2019.
2017 2016
IMPAIRMENT OF TRADE RECEIVABLES
Opening balance at 1 January 11,761 27,0 8 6
Charge for the year 49,562 14,537
Amounts written off (uncollectable) (23,852) (29,862)
CLOSING BALANCE AT 31 DECEMBER 37,471 11,761
NOTE 6: INVENTORIES
2017 2016
CURRENT
At cost
FINISHED GOODS 131,973 95,674
56 2017 RNA ANNUAL REPORT NOTE 7: OTHER ASSETS
2017 2016
CURRENT
Prepayments 244,831 282,953
Restricted cash – RNADF (a) 2,506 83,879
Restricted cash – SMA Sinking Fund (b) 124,627 67,14 3
Restricted cash – SMA Administration Fund (c) 34,771 -
Restricted cash – Foundation Accounts (d) 410 -
Restricted cash – Compensation Account (e) 1,994,632 -
Restricted cash – King Street Carpark Account (f) 61,731 -
Prepaid EDQ (Economic Development Qld) Infrastructure Levies – The Yards 2,174,337 3,416,601
Prepaid EDQ (Economic Development Qld) Infrastructure Levies – The Green 265,017 -
Other current assets - 537,492
4,902,862 4,388,068
(a) Restricted cash – RNADF The RNA development fund (RNADF) is an account established to receive Land Entitlements and other RNA Project Entitlements and to pay RNA Project Costs and other expenses relevant to the development project.
(b) Restricted cash – SMA Sinking Fund The Sinking Fund is an account established to receive contributions from the Brisbane Showgrounds precinct property owners for the purpose of future capital maintenance and improvements to shared public realm areas.
(c) Restricted cash – SMA Administration Fund The Administration Fund is an account established to receive contributions from the Brisbane Showgrounds precinct property owners for the purpose of administering and funding the operations of shared public realm areas.
(d) Restricted cash – Foundation Accounts The Foundation Accounts are accounts established to receive contributions for the purpose of charitable causes.
(e) Restricted cash – Compensation Account The Compensation Account is an account established by QTC in favour of RNA to hold Compensation funds received.
(f) Restricted cash – King Street Carpark Account The King Street Carpark Account is an account established to receive revenue from the operations of the King Street Carpark and pay costs associated with administering the operations of the carpark. From August 2017 for a six month period, a 50/50 profit share arrangement was entered into between Lend Lease as the owner of the carpark and RNA as the manager.
NOTE 8: INTANGIBLE ASSETS
2017 2016
Software at cost 1,419,220 1,298,188
Accumulated amortisation and impairment (1,292,864) (1,266,234)
126,356 31,954
2017 RNA ANNUAL REPORT57 2017 2016
RECONCILIATIONS Reconciliation of the carrying amounts of intangible assets at the beginning and end of the current financial year
Software at cost
Opening balance 31,954 184,752
Additions 121,032 (15,958)
Amortisation expense (26,630) (136,840)
CLOSING BALANCE 126,356 31,954
NOTE 9: REDEVELOPMENT WORK IN PROGRESS
2017 2016
CURRENT ASSETS
Redevelopment Work In Progress 619,913 879,391
NON CURRENT ASSETS
Redevelopment Work In Progress 7,324,418 7,346,369
Redevelopment Work In Progress comprises capitalised expenses in relation to the redevelopment project including but not limited to legal expenses, consultants fees and salaries and wages.
NOTE 10: PROPERTY, PLANT AND EQUIPMENT
2017 2016
LAND
Freehold land
At cost 96,880 96,880
BUILDINGS AND GROUND IMPROVEMENTS
At cost 89,703,591 90,527,873
Accumulated depreciation (26,180,963) (25,180,601)
63,522,628 65,347,272 PLANT AND EQUIPMENT
Plant and equipment at cost 18,150,355 18,414,014
Accumulated depreciation (13,440,124) (12,695,466)
4,710,231 5,718,548 Sub‑stations and electrical equipment at cost 544,352 544,352
Accumulated depreciation (278,184) (251,024)
266,168 293,328 Work‑in‑progress ‑ construction 7,738,370 1,082,265
Total plant and equipment 12,714,769 7,0 9 4,141
TOTAL PROPERTY, PLANT AND EQUIPMENT 76,334,277 72,538,293
58 2017 RNA ANNUAL REPORT 2017 2016
RECONCILIATIONS Reconciliation of the carrying amounts of property, plant and equipment at the beginning and end of the current financial year
Freehold land
Opening carrying amount 96,880 96,880
CLOSING CARRYING AMOUNT 96,880 96,880 Buildings
Opening carrying amount 6 5,3 47,272 67,481,157
Additions - 25,494
Transfers 48,129 -
Disposals (40,091) -
Depreciation expense (1,832,682) (2,159,379)
CLOSING CARRYING AMOUNT 63,522,628 65,347,272 Plant and equipment
Opening carrying amount 5,718,548 6,634,211
Additions 264,845 529,963
Transfers 107,6 3 3 -
Disposals (48,007) -
Depreciation expense (1,332,788) (1,445,626)
CLOSING CARRYING AMOUNT 4,710,231 5,718,548 Sub‑stations and electrical equipment
Opening carrying amount 293,328 320,488
Additions - -
Depreciation expense (27,16 0) (27,16 0)
CLOSING CARRYING AMOUNT 266,168 293,328 Work‑in‑progress ‑ Construction and other related equipment
Opening carrying amount 1,082,265 759,070
Additions 6,986,428 415,184
Transfers (155,762) -
Disposals (174,561) (91,989)
CLOSING CARRYING AMOUNT 7,738,370 1,082,265
TOTAL PROPERTY PLANT AND EQUIPMENT 76,334,277 72,538,293
Rights and Obligations attached to Freehold Land The Association is incorporated under the Royal National Agricultural and Industrial Association of Queensland Act 1971 (“the Act”) and operates under the provisions of that Act. In accordance with the Act, the Association cannot sell its land without the approval of the Governor in Council. In the event of an RNA insolvency, the balance site (approx 14 ha which has not been made available for private development) would be divested automatically to the State Government.
2017 RNA ANNUAL REPORT59 NOTE 11: PAYABLES
2017 2016
CURRENT
Unsecured liabilities
Trade creditors 4,150,753 994,255
EDQ (Economic Development Qld) Infrastructure Levies – The Green - 1,934,568
Sundry creditors and accruals 1,346,047 1,008,255
5,496,800 3,937,078
NOTE 12: BORROWINGS
2017 2016
CURRENT
Secured liabilities
Queensland Treasury Corporation loan 4,927,4 3 3 4,630,670
4,927,433 4,630,670 NON CURRENT
Secured liabilities
Queensland Treasury Corporation loan 46,541,283 51,468,776
Cash Advance Facility ‑ Lend Lease 6,268,782 6,078,042
Large Animal Pavilion – Lend Lease 6,823,532 773,297
59,633,597 58,320,115
Terms and conditions
Queensland Treasury Corporation Loans The RNA has entered into a loan agreement with Queensland Treasury Corporation to assist in the financing of new facilities to be delivered as part of the RNA redevelopment. The loan is secured by a first registered mortgage over the balance site (i.e. the part of the RNA site that is not within the private development lots to be sold in accordance with the Project Development Agreement) and a first ranking charge over all of the assets of the RNA. As at 31 December 2017 $59,000,000 (2016: $59,000,000) had been drawn down, interest charges of $20,836,005 (2016: $17,431,453) calculated using the effective interest rate method have been capitalised and repayments of principal and interest totalling $28,367,948 (2016: $20,332,725) have been made. Repayments of the principal are scheduled over an 11 year period with the first repayments made in 2016. Interest was variable until 10 January 2014 when it converted to a fixed rate of 7.105%. Interest was paid monthly whilst the rate was variable and then quarterly once the loan was transferred to the fixed facility. The RNA also has a working capital facility with QTC to the value of $3 million as at 31 December 2017 (2016: $3Million). This facility was not drawn at balance date (2016: $nil drawn). Cash Advance facility ‑ Lend Lease As part of the RNA Redevelopment Project, Lend Lease has agreed to provide a standby cash advance facility of up to $10 million to meet funding shortfalls, essentially for Levies and RNA Project Costs. The terms and conditions of this facility are set out in a Project Finance Agreement. This facility will be repaid by future cash flows from the Redevelopment Project. The facility end date is the date of the final payment of all ULDA levies under the Redevelopment project. Interest is charged on the same basis as the Queensland Treasury Corporation Loan. Interest is not required to be repaid until there are sufficient funds in the RNADF to repay the interest. As at 31 December 2017 $5,479,756 (2016: $5,479,756) had been drawn down. Accumulated Interest of $789,026 (2016: $598,287) has been capitalised to the loan to date.
Large Animal Pavilion ‑ Lend Lease As part of the construction of the Large Animal Pavilion within the next stage of the RNA Redevelopment Project, Lend Lease has agreed to lend RNA $30 million to fund the facility. Repayments of this loan facility are to be disbursed from RNADF when the RNADF has the funds for this to occur. As at 31 December 2017 $6,823,532 (2016: $773,297) had been drawn down.
60 2017 RNA ANNUAL REPORT NOTE 13: PROVISIONS
2017 2016
CURRENT
Lend Lease Performance Payments 901,600 1,014,885
Employee benefits 866,325 860,047
TOTAL CURRENT PROVISION 1,767,925 1,874,932 NON CURRENT
Lend Lease Performance Payments 1,258,868 532,115
Employee benefits 139,640 127,917
TOTAL NON CURRENT PROVISION 1,398,508 660,032
NOTE 14: OTHER LIABILITIES
2017 2016
CURRENT
Venue hire rent and bond 1,877,137 1,051,770
Deferred revenue (i) 882,077 1,306,680
Prepaid Land Entitlements – The Yards 6,226,171 9,545,988
Prepaid Land Entitlements – The Green 666,339 -
Prepaid Land Entitlements – K5 commercial tower 3,422,507 -
Other 514,148 201,834
13,588,379 12,106,272 NON CURRENT
Deferred revenue (i) 12,356,850 15,418,799
12,356,850 15,418,799 (i) Deferred revenue comprises:
Lend Lease initial payments (a) 4,951,800 5,337,758
Contribution to public realm development (b) 5,114,264 5,511,344
Advance land payments (c) 1,934,913 4,542,126
Ekka Gross Floor Area (GFA) Waiver (d) 1,237,950 1,334,250
13,238,927 16,725,478
(a) Lend Lease initial payments Under the Project Development Agreement the Developer is liable to pay to the RNA the sum of $6 million as a contribution towards the RNA’s costs and expenses of entering into the Redevelopment Agreement. These payments are made at intervals during the first 48 months of the project.
(b) Contribution to public realm development This amount relates to payments received from the developer for infrastructure works in relation to the Redevelopment Project, carried out by the RNA.
(c) Advance land payments ‑ Lend Lease Amounts owing to Lend Lease pursuant to the Master Plan Project Development Agreement (PDA) are secured by: - a mortgage over the land designated for redevelopment under the PDA - a conditional contract for RNA to transfer undeveloped portions of the redevelopment land. Settlement of this contract only occurs if the PDA is terminated because of RNA default and Lend Lease elects to complete that contract instead of enforcing its mortgage security.
(d) Ekka Gross Floor Area (GFA) Waiver Under the revised Project Development Agreement, the GFA restriction has been removed with Lend Lease paying RNA $1,500,000 as compensation.
2017 RNA ANNUAL REPORT61 NOTE 15: RESERVES
2017 2016
Trust funds (a) 274,440 274,580
Sinking Fund (b) 147,110 67,14 3
421,550 341,723 (A) TRUST FUNDS
Trust funds consist of funds received from third parties to be held in trust and used for specific prize payments. The transfer in the year comprises interest earned on the funds in the year calculated at the average term deposit rate less prizes paid from the fund in the year.
Movements in reserve
Opening balance 274,580 276,350
Interest received during the year 6,475 6,335
Prize payments during the year (6,615) (8,105)
CLOSING BALANCE 274,440 274,580 (B) SINKING FUND
The RNA has entered into a Site Management Agreement which provides governance over the shared Brisbane Showgrounds precinct public realm. Under this agreement, a Sinking Fund containing contributions from each property across the Brisbane Showgrounds Precinct has been established to provide funds for future capital maintenance and improvements in public realm areas.
Movements in reserve
Opening balance 67,14 3 -
Contributions received during the year 79,967 67,14 3
Expenditure during the year - -
CLOSING BALANCE 147,110 67,143
NOTE 16: KEY MANAGEMENT PERSONNEL COMPENSATION
2017 2016
Compensation received by key management personnel of the association 2,157,679 1,940,710
Councillors
At the Association’s Council meeting on 27 October 2000, it was resolved that ‘Country Councillors’ who travel a distance of more than 100km radius from Brisbane be reimbursed their travel expenses based on Australian Taxation Office rates, as published, and be able to claim overnight accommodation where applicable for attending official meetings of the Council and the Executive Committee. At 31 December 2017 there were 6 Councillors (2016: 6) eligible to claim travel expenses. Councillors do not receive remuneration for their membership of Council.
62 2017 RNA ANNUAL REPORT NOTE 17: CASH FLOW INFORMATION
2017 2016
RECONCILIATION OF CASH FLOW FROM OPERATIONS WITH PROFIT FOR THE YEAR
Profit / (Loss) for the year 3,719,837 1,193,258
ADJUSTMENTS AND NON‑CASH ITEMS
Depreciation & amortisation 3,219,262 3,769,005
Net (gain) / loss on disposal of property, plant and equipment and investments 80,099 38,124
Net (gain) / loss on sale of land (15,626,271) (11,902,546)
Interest Capitalised on loan 190,740 178,164
Interest expensed on loans included in financing activities 3,576,203 4,769,195
Adjustment to finance costs to recognise borrowings at amortised cost (171,650) (1,071,729)
Bad Debts Expense 49,562 14,537
CHANGES IN ASSETS AND LIABILITIES
(Increase) / decrease in receivables 1,284,336 4,363,225
(Increase) / decrease in other assets 750,179 (9,560)
(Increase) / decrease in land held for resale 659,827 494,280
(Increase) / decrease in inventories (36,304) (22,579)
Increase / (decrease) in payables 3,600,205 (552,427)
Increase / (decrease) in unearned income 257,6 40 (437,567)
Increase / (decrease) in provisions 18,001 93,546
CASH FLOWS FROM OPERATING ACTIVITIES 1,571,666 916,926
NOTE 18: RELATED PARTY TRANSACTIONS
The name of each person holding the position of Councillor of the Association during the year is listed in the Councillors’ Report. Other transactions between the Association and Councillors and their related entities are immaterial in nature and occur with normal customer/ supplier relationships on terms and conditions no more favourable than those which it is reasonable to expect would have been adopted if dealings with non‑Councillor related entities at arm’s length in the same circumstances.
2017 RNA ANNUAL REPORT63 NOTE 19: CAPITAL AND LEASING COMMITMENTS
2017 2016
(A) OPERATING LEASE PAYABLE COMMITMENTS Non‑cancellable operating leases contracted for but not capitalised in the financial statements:
Payable
‑ not later than one year 89,982 23,308
‑ later than one year and not later than five years 314,937 -
404,919 23,308 The Association has a five year lease with CSG (beginning July 2017) for photocopiers
(B) OPERATING LEASE RECEIVABLE COMMITMENTS
Receivable
‑ not later than one year 44,378 43,190
‑ later than one year and not later than five years 140,392 160,790
‑ later than five years 314,224 338,203
498,994 542,183
The Association has re‑negotiated a 10 year lease with Telstra Corporation for ground rental on RNA land commencing 1 March 2010, and re‑negotiated a 20 year lease with Vodafone Network for ground rental on RNA land commencing 1 September 2014. The Association has also negotiated a 5 year lease for Royals Equestrian Riding School.
NOTE 20: CONTINGENT LIABILITIES
As at reporting date, there are no known contingent liabilities.
NOTE 21: ECONOMIC DEPENDENCY
The Association is economically dependent on Lend Lease (the developer of the RNA regeneration project) for the short to medium term funding of the QTC loan. This dependency will continue until the net cashflows from the private development lots are sufficient to extinguish the loan.
NOTE 22: EVENTS SUBSEQUENT TO REPORTING DATE
There has been no matter or circumstance, which has arisen since 31 December 2017 that has significantly affected or may significantly affect:
(a) the operations, in financial years subsequent to 31 December 2017, of the RNA; or (b) the results of those operations; or (c) the state of affairs, in financial years subsequent to 31 December 2017, of the RNA.
In the opinion of the Council the financial report as set out on pages 48 - 64: 1. Presents fairly the financial position of The Royal National Agricultural and Industrial Association of Queensland as at 31 December 2017 and performance for the year ended on that date in accordance with the Australian Accounting Standards ‑ Reduced Disclosure Requirements and other mandatory professional reporting requirements. 2. At the date of this statement, there are reasonable grounds to believe that The Royal National Agricultural and Industrial Association of Queensland will be able to pay its debts as and when they become due and payable.
This declaration is made in accordance with a resolution of the Council and is signed for and on behalf of the Council by:
Council member: Justice D G Thomas ‑ President
Council member: Ms S McDonald ‑ Honorary Treasurer Dated this 1st day of March 2018
64 2017 RNA ANNUAL REPORT INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF THE ROYAL NATIONAL AGRICULTURAL AND INDUSTRIAL ASSOCIATION OF QUEENSLAND
OPINION
We have audited the financial report of The Royal National Agricultural and Industrial Association of Queensland (“the Association”), which comprises the statement of financial position as at 31 December 2017, the statement of comprehensive income, statement of changes in equity and statement of cash flows for the year then ended, and notes to the financial statements, including a summary of significant accounting policies, and the Councillors’ declaration.
In our opinion, the accompanying financial report of the Association is in accordance with the Royal National Agricultural and Industrial Association of Queensland Act 1971 (as amended), including:
(a) giving a true and fair view of the Association’s financial position as at 31 December 2017 and of its financial performance for the year then ended; and
(b) complying with Australian Accounting Standards – Reduced Disclosure Requirements.
BASIS FOR OPINION
We conducted our audit in accordance with Australian Auditing Standards. Our responsibilities under those standards are further described in the Auditor’s Responsibilities for the Audit of the Financial Report section of our report. We are independent of the Association in accordance with the ethical requirements of the Accounting Professional and Ethical Standards Board’s APES 110 Code of Ethics for Professional Accountants (“the Code”) that are relevant to our audit of the financial report in Australia. We have also fulfilled our other ethical responsibilities in accordance with the Code.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
OTHER INFORMATION
The Councillors are responsible for the other information. The other information comprises the information included in the Association’s Councillors’ Report for the year ended 31 December 2017, but does not include the financial report and our auditor’s report thereon.
Our opinion on the financial report does not cover the other information and accordingly we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial report, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial report or our knowledge obtained in the audit or otherwise appears to be materially misstated.
If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.
RESPONSIBILITIES OF THE COUNCILLORS FOR THE FINANCIAL REPORT
The Councillors of the Association are responsible for the preparation of the financial report that gives a true and fair view in accordance with Australian Accounting Standards – Reduced Disclosure Requirements and the Royal National Agricultural and Industrial Association of Queensland Act 1971 (as amended) and for such internal control as the Councillors determine is necessary to enable the preparation of the financial report that gives a true and fair view and is free from material misstatement, whether due to fraud or error.
2017 RNA ANNUAL REPORT65 In preparing the financial report, the Councillors are responsible for assessing the ability of the Association to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Councillors either intend to liquidate the Association or to cease operations, or has no realistic alternative but to do so. HISTORICAL AUDITOR’S RESPONSIBILITIES FOR THE AUDIT OF THE FINANCIAL REPORT
Our objectives are to obtain reasonable assurance about whether the financial report as a whole is free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with Australian Auditing Standards will always detect a material misstatement when it exists. TIMELINE Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of the financial report.
As part of an audit in accordance with the Australian Auditing Standards, we exercise professional judgement and maintain professional scepticism throughout the audit. We also:
¡ Identify and assess the risks of material misstatement of the financial report, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
¡ Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Association’s internal control.
¡ Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by management.
¡ Conclude on the appropriateness of management’s use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Association’s ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the financial report or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the Association to cease to continue as a going concern.
¡ Evaluate the overall presentation, structure and content of the financial report, including the disclosures, and whether the financial report represents the underlying transactions and events in a manner that achieves fair presentation.
We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.
PITCHER PARTNERS
J.J Evans Partner
Brisbane, Queensland
Dated this 1st day of March 2018
66 2017 RNA ANNUAL REPORT HISTORICAL TIMELINE
1875THE NATIONAL AGRICULTURAL 1877FIRST EKKA RIDE AND INDUSTRIAL ASSOCIATION ¢ Introduction of the first ride in Sideshow Alley - a OF QUEENSLAND merry-go-round* ¢ The ‘National Agricultural and Industrial Association of Queensland’ was formed by a group of colonists ¢ The first Council included the Headmaster of Brisbane Grammar, the General Manager of the Queensland National Bank and the Editor of the Brisbane Courier and the Queenslander*
1878THE CENTRE OF SOCIAL ACTIVITIES ¢ The Showgrounds became the centre of the city’s social activities – musical and drama groups, football, 1876THE FIRST EXHIBITION cricket, lacrosse, athletics and cycling all had headquarters on grounds ¢ The Intercolonial Exhibition of 1876 was held at Bowen Park, with an estimated 15,000 - 17,000 people attending out of Brisbane’s population at the time of just 20,600 ¢ 5,000 people charged the turnstiles - chaos ensued until the mounted troopers were called to drive back the crowd ¢ Visitors to the first show were treated to more than 1,000 exhibits ¢ The show received 1,700 competition entries in more 1879INTRODUCTION OF than 600 classes ¢ Entry tickets were large and square for major patrons, QUEENSLAND’S NEWEST circular for subscribers, blue for judges and red for TECHNOLOGIES stewards* ¢ Ekka patrons were amazed by telephones, ¢ Staff included a nightwatchman, 40 stewards and microphones, electric lights and even an electric thief more than 30 judges* detector ¢ Entry to the grounds in the morning was a half-crown, or visitors could wait until after the official opening when the cost of a ticket fell to one shilling ¢ Competitors were usually charged two shillings and sixpence per entry* ¢ There were competitions for the best manure and the fastest walking farm horse* ¢ The largest prize up for grabs was 25 guineas* ¢ The show closed at midnight on Monday 28 August, following a controversial decision to open on the Sunday* 1882THE FIRST RAILWAY STATION ¢ Only three breeds of cattle were displayed at the first ¢ The first railway station opened at the Showgrounds show - Durham, Hereford and Devon* – as an extension of the Sandgate line
2017 RNA ANNUAL REPORT67 1888MAIN PAVILION DESTROYED 1917TOOWOOMBA’S AUSTRAL HALL ¢ Main Pavilion (corner of Bowen Bridge Road and ¢ Toowoomba’s Austral Hall was bought for £1,500 and Gregory Terrace) was destroyed by fire on June 13, re-erected at the Showgrounds, making it the largest 1888 building of its type in the state
1891EXHIBITION BUILDING AND 1919EKKA CANCELLED DUE TO CONCERT HALL CONSTRUCTED INFLUENZA EPIDEMIC ¢ The Exhibition and Concert Hall (now known as The Old Museum) was built on the corner of Bowen Bridge Road and Gregory Terrace. It was built to replace the RNA’s first exhibition building (Main Pavilion) which was destroyed by fire three years earlier. It contains 1.3 million bricks and was completed in 23 weeks. 300 men were constantly at work during its construction. The building was equipped with a huge pipe organ by Wallis and Co of 1920EDWARD, PRINCE OF WALES London VISITS THE EKKA ¢ The first district exhibits contest was held – nine regions competed for a prize pool of £175*
1921THE RNA ¢ The prefix ‘Royal’ was added to the association’s 1894FIRST FIREWORKS name, after it was granted under warrant from His ¢ The first fireworks display occurred in the Main Arena, Majesty King George V beginning another show tradition*
1923ERNEST BAYNES STAND BUILT 1906JOHN MACDONALD STAND BUILT
1926NATIONAL SPEEDWAY ¢ The National Speedway opened at the RNA Showgrounds 1912AMERICAN AVIATOR ¢ The Queensland Country Women’s Association made ¢ American aviator Arthur Burr Stone used the Main its first appearance at the Ekka Arena to take off and land a Metz Bleriot Monoplane, ¢ The first night time ring program was held at Ekka, for the first ever flight over Brisbane following the introduction of electric lighting*
68 2017 RNA ANNUAL REPORT 1928SIR DONALD BRADMAN 1954QUEEN ELIZABETH II AND TEST DEBUT PRINCE PHILLIP VISITED THE ¢ The Main Arena played host to the test debut of EKKA the world’s greatest batsman Sir Donald Bradman. Bradman was playing in the first Australia versus England International Test in Queensland and scored a total of 19 runs ¢ The first international rugby league game was held on the Main Arena
1964ANIMAL NURSERY AT THE EKKA INTRODUCED s 1930GREAT DEPRESSION ¢ New Ekka competitions provided fresh entertainment for visitors during the depths of the Great Depression, including goat races which attracted 100 competitors*
1966HUMAN CANNONBALL APPEARED AT THE EKKA FOR THE FIRST TIME*
1937INDUSTRIAL PAVILION OPENED
1971INTERNATIONAL SPRINGBOK TOUR ¢ The International Springbok Tour was held at the RNA Showgrounds, with a two metre chain wire fence erected to separate the players from the spectators 1942WORLD WAR II ¢ The Ekka was cancelled, as the grounds were used as a staging depot during World War II
1989LIVID MUSIC FESTIVAL ¢ The renowned Livid Music Festival was held at the 1950EKKA FOOD TRADITIONS RNA Showgrounds for the first time, which later ¢ The now symbolic Ekka fairy floss, butter board featured performances by superstar group Oasis and sandwiches, Strawberry Sundaes and dagwood dogs Green Day in 2000 and British music icons The Cure were introduced* in 2002
2017 RNA ANNUAL REPORT69 1996COMMERCE AND EXHIBITION 2010MASTER PLAN APPROVAL BUILDINGS CONSTRUCTED ¢ The RNA Showgrounds Master Plan was approved by the Urban Land Development Authority, paving way for construction to start ¢ One million people attended events at the RNA Showgrounds in a calendar year
2000SIDESHOW ALLEY AND WOODCHOP 2011CONSTRUCTION STARTED ¢ The Inner City Bypass was constructed, and ¢ Construction commenced on the Industrial Pavilion, Sideshow Alley and the woodchop arena were as part of the RNA Showgrounds Regeneration redeveloped Project ¢ The first release of residential apartments at The Green went on sale and work began on the related infrastructure ¢ British heavy metal band Iron Maiden and world renowned guitarist Slash performed at Soundwave music festival, which attracted a crowd of 45,000 ¢ Grammy Award-winners Wolfmother closed the Ekka’s concert series in front of a capacity crowd
2003REDEVELOPMENT VISION BEGAN ¢ RNA Council embarked on its vision to keep the Ekka at the RNA Showgrounds and cement the long-term financial viability of the RNA, through redeveloping the Showgrounds and its facilities 2012ROYAL ICC’S FIRST VISITORS ¢ The ground floor of the brand new Royal International Convention Centre (Royal ICC) housed the Ekka’s Canine Competition, Agricultural Hall and horticulture exhibits ¢ Construction began on the new 7,000m2, $7.7 million Plaza ¢ The RNA was inducted into the Queensland Business Leaders Hall of Fame for its contribution to the state’s 2005RNA SHOWGROUNDS economic and social history MASTER PLAN LAUNCHED ¢ In an Australian first, Ekka fans were able to customise their own fireworks on the show’s free interactive fireworks iPhone app ¢ New Ekka ticket bundles were introduced and resulted in a 400 per cent increase in pre-sales ¢ 2012 Australian of the Year and Academy Award- winning actor and producer Geoffrey Rush attended the opening day of the Ekka ¢ In true Queensland style, a cricket match involving cricketing greats Adam Gilchrist, Glenn McGrath, Ian Healy, Andy Bichel and Jimmy Maher took place on 2009REDEVELOPMENT PARTNER the Main Arena on the final day of the Ekka ¢ Lendlease was selected as the RNA’s development ¢ 45,000 revellers made their way to Soundwave to partner for the $2.9 billion RNA Showgrounds enjoy performances by System of a Down, Marilyn Regeneration Project Manson, Slipknot and Limp Bizkit
70 2017 RNA ANNUAL REPORT 2013BRISBANE SHOWGROUNDS 2016KING STREET COMES TO LIFE LAUNCHED ¢ The 208 room, four and a half star Rydges Hotel, ¢ The Royal ICC was fully completed and held its first along with the Paddock Bar and Six Acres restaurant, events in March 2013 opened on King Street in February. The street, which connects St Pauls Terrace and Gregory Terrace, also ¢ Completion of the Plaza and Porte-Cochere opened to traffic the same month. ¢ Construction began on K1, the first of the commercial ¢ From August to November, King Street welcomed towers at Kingsgate commercial precinct, and on The restaurants The George Bar and Bistro, Fat Green residential apartments Dumpling, Sushi & Nori, Hello Chicken and Il Verde ¢ More than 400,000 guests attended the Ekka ¢ After 119 years, The Old Museum came home to ¢ The Royal Queensland Show took home the Ekka, forming a brand new precinct home to the prestigious Best in Show title, along with 13 other Flower and Garden Exhibition and Quilts Across awards, at the 2013 International Association of Fairs Queensland and Expositions Awards (IAFE Awards) ¢ More than 54,521 Ekka Facebook friends – a growth of 75 per cent on 2012 ¢ The Caravan and Camping Show attracted 71,500 people to the Brisbane Showgrounds ¢ 50,000 music lovers descended on the Brisbane Showgrounds for Soundwave
2014BRISBANE SHOWGROUNDS REGENERATION PROJECT STAGE TWO UNDERWAY ¢ Stage two of the Brisbane Showgrounds Regeneration Project launched in September, including the announcement of the four and a half star Rydges Hotel and construction commencing on King Street ¢ The Royal ICC hosted Her Royal Highness, The Princess Royal (Princess Anne) and 250 delegates at the Royal Agricultural Society of the Commonwealth (RASC) conference in October ¢ Grammy Award-winner Lorde performed at Laneway 2017CELEBRATING EKKA’S 140TH festival to a record crowd ¢ The Ekka celebrated a remarkable milestone - its 140th anniversary - with the RNA marking the special occasion by introducing a new half price ticket for entry from 6pm and not one, but two fireworks displays ¢ King Street cemented its reputation as a foodie hot spot, with eight new retailers (five of those 2015HOTEL CONSTRUCTION restaurants) opening their doors, including two-hat ¢ Work started on the 208 room, four and a half star French restaurant Montrachet Rydges Hotel on the corner of Gregory Terrace ¢ Construction commenced on 25 King, the world’s and King Street, with construction completed in largest engineered timber office building, in June December ¢ Construction commenced on The Pavilion in August. ¢ In June, Kingsgate commercial sector opened for Once complete in late October 2018, it’ll house more business on the corner of King Street and St Pauls than 1,600 large animals during Ekka and be used as Terrace, becoming the Queensland head office for a 650 bay car park and event space outside of show Lendlease ¢ In September, the RNA welcomed the very first * Historical information and statistics sourced from ‘Showtime - A residents to the Brisbane Showgrounds in The Green History of the Brisbane Exhibition’ by Joanne Scott and Ross apartments Laurie,2008; and RNA Archives.
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