PRESIDENT’S REPORT
As I reflect on the year just passed, 2024, it’s clear we navigated a period of distinct economic contrasts. Our industry showcased remarkable resilience, albeit with a two-speed dynamic. The larger boat sector demonstrated encouraging performance, while the smaller boat market faced headwinds.
Financially, the Boating Industry Association (BIA) concluded the year in a strong equity position, a testament to prudent management and strategic planning under the guidance of our Board of Directors. This robust financial standing provides a solid foundation for our future initiatives and allows us to effectively support our members through a challenging period.
Beyond financial performance, we significantly strengthened our connection with the membership. The surge in new member acquisitions reflects the value we deliver, solidifying our role as a vital and effective marine industry advocate across Australia. The success of our member forums, held across all jurisdictions in the last quarter of the year, further highlights this engagement. The impressive turnout, notably the 70 attendees in Adelaide, underscored the industry’s desire for collaboration and knowledge sharing.
We also addressed the evolving pressures on our boat shows, implementing a strategic shift to a split show format in Sydney. This adaptation aims to better align with changing market demands and ensure the continued success of these key industry events.
I must acknowledge the sound leadership and guidance provided by my colleagues on the Board of Directors throughout the year. Additionally, I acknowledge the hard work of the BIA team, who have worked tirelessly to keep the association focused on its key priorities under its strategic business plan.
In summary, 2024 was a year of resilience, strategic adaptation, and strengthened member engagement. The BIA is well-positioned to continue advocating for our industry’s prosperity in the years ahead.
Adam Smith President, Boating Industry Association Ltd
GOVERNANCE AND PEOPLE
BOARD OF DIRECTORS
Adam Smith was returned as Chair of the Board and BIA President at the BIA Ltd AGM in May 2024, with Nicholas Kitchen standing as vice-President, and Richard Hopkins returned as Treasurer. Nathan Nichols retired from the Board at the AGM after many years of well-regarded service.
While allowing for these changes, the Board for 2024 was constituted of up to 10 directors, with three each from NSW, Queensland and SA, plus one Board-appointed director making up the complement. The BIA Board met on six occasions during the year, three via Zoom and three in-person meetings.
The 2024 AGM was also held online, with members participating in an online ballot, directed by the AGM Notice of Meeting agenda, in the week preceding the meeting date. With the retirement of Nathan Nichols and previously unfilled vacancies, there were three changes to state council nominated directors.
BOARD OF DIRECTORS 2024
Nicholas Kitchen
Richard Hopkins EJ Milde & Co Pty Ltd
Karen Baldwin (appointed May 2024) Royal Queensland Yacht
Miriam Griffen
Andrew Hayes
Griffens Marina
Hallett Australia Pty Ltd
Jon Hunt Hunts Marine Pty Ltd
Nathan Nichols (resigned May 2024)
Tracy Souris (appointed May 2024)
Steve Williams (appointed May 2024)
Darren Vaux
Cruise Craft Boats Pty Ltd
Sydney Boat House
Standen Marine
Empire Marinas Group
BOATING INDUSTRY ASSOCIATION LTD STAFF 2024
Andrew Scott
Nik Parker
Neil Patchett
Andrew Fielding
Shane Wilson
CEO
General Manager, Member Services
General Manager, Government & Public Relations
Business Development Manager
Member Programs Manager
George Bolton Manager Business Support (SA & NT)
Kim Fox
Megan Robson
Glenn Baumann
Marketing & Communications Manager
Marketing & Communications Coordinator (resigned March 2024)
Accounts Assistant (retired August 2024)
GOVERNANCE AND PEOPLE
STATE COUNCILS
The BIA State Councils continued to meet throughout the year to progress a number of local advocacy issues, projects and to consider the approach to future strategic direction of the Association, member support and boating promotion. Each Council was constituted of up to 11 Councillors, with a number of new member-elected representatives being returned at the relevant State Council AGMs in April. Each State Council met three times during the year, in a mix of online and in-person meetings.
NEW SOUTH WALES STATE COUNCIL CHAIR’S REPORT
The 2023-2024 calendar year presented a complex landscape for the NSW boating industry, marked by both resilience and significant economic headwinds. We experienced continued post-pandemic enthusiasm, driving demand for vessels and services, but this growth was tempered by economic challenges.
A key factor impacting our sector was the significant cost-of-living pressures faced by households. This directly affected discretionary spending, including leisure activities like boating.
BIA challenged the decision by the State Government to apply without warning a considerable increase to boating fees from mid-year but, despite concerted efforts and a petition of almost 5,000 signatures, the changes were implemented in full.
A major advocacy effort was then focused on the Sydney International Boat Show as we sought a solution to the ever-increasing State Government venue fees. Our members demanded change and relief from the high fees. We worked with stakeholders inside and outside of government such as Roy Butler MP, Chair of the NSW Parliamentary Friendship Group for Aquatic Recreation, and with assistance from Kerry Chikarovski & Associates, we presented a proposal to collaborate with government to secure the long-term future of the event and to better manage costs to exhibitors.
It is disappointing the State Government ultimately rejected the proposal even though independent economic analysis found the 2024 event delivered $353m in total economic output and created 903 jobs.
Looking ahead, we must remain adaptable.
In closing, I must acknowledge my fellow State Council members for the valued contributions and support throughout the year. I also extend my gratitude to our members, partners, staff and stakeholders. By working together, we can chart a course for a prosperous future for boating in NSW.
Adam Smith
Chair, BIA New South Wales State Council
NEW SOUTH WALES STATE COUNCIL 2024
GOVERNANCE AND PEOPLE
QUEENSLAND STATE COUNCIL CHAIR’S REPORT
Boating in always going to be a popular pastime for Queenslanders. Our love of the water was reinforced during Covid and during this time we saw an unprecedented influx of new waterways users. Over the past 12 months we have seen the expected tapering off of that period with the majority of businesses reporting a slowdown in trade. This result was also driven by inflation, interest rate increases and general consumer uncertainty. Well established businesses are fortunately conditioned for our often-fluctuating market and committed boaties aren’t easily deterred from getting out on the water, spending on servicing and upgrades.
Our love of boating places significant pressure on existing marine infrastructure around the State; from marinas, boat yards, boat ramps and storage facilities, right through to the waterways network of navigational aids and markers. BIA is a strong advocate on behalf of members for new and improved infrastructure for boating. So it is good to see Maritime Safety Qld (MSQ) has completed a number of new or improved infrastructure projects for boating such as:
• Palm Cove major jetty maintenance
• Rosslyn Bay Boat Harbour reconfiguration of boat launching facilities
• Wellington Point access channel dredging
• Macleay Island new floating walkway
• Outrigger Island, Minyama new 2-lane boat ramp and floating walkway
• Junner Street, Dunwich, new gangway-access pontoon and fishing platform
According to published reports, the value of recreational boating facilities MSQ built last financial year was $11.6 million.
The demand for workers is still a significant issue for our industry with ongoing concerns about the current and future supply of qualified workers. The success of the BIA’s Marine Jobs program and their partnership with TAFE Queensland and The Industry School is delivering results with a noticeable increase in participation in marine courses and an overall awareness of the opportunities that exist for jobseekers, future tradespeople and professionals.
Well done to the whole BIA team for their commitment supporting our members.
Nic Kitchen
Chair, BIA Queensland State Council
QUEENSLAND STATE COUNCIL 2024
COUNCILLOR
Nicholas Kitchen
Ben Anderson
Rob Bamford (appointed April 2024)
Brett Bolton
Raymond Blane (appointed April 2024)
Nathan Clark (appointed April 2024)
Johan Hasser
Derrick Nowak
Mike Orsmond
Fabien Vignes
Steve Williams
Sonya Wilmen (resigned April 2024)
Seatech Marine Services
Mackay Marina / Peter Hansen Yacht Brokers MackayCouncillor
Marine Structures Councillor
Coriolis Marine Councillor
Southern Seas Marine Councillor
Seal Marine Management & Consultancy Councillor
Mulpha Sanctuary Cove International Boat Show Pty LtdCouncillor
Maritimo Offshore Councillor
Rib Force Inflatables Councillor
All Marine Spares Councillor
Standen Marine Councillor
Coverforce Councillor
GOVERNANCE AND PEOPLE
SOUTH AUSTRALIA STATE COUNCIL CHAIR’S REPORT
The current financial year started quietly for many divisions, particularly retailers and houseboat hire members, as economic conditions continued to pose challenges. However, members remained active in promoting the boating lifestyle, participating in boat, caravan, camping, and 4WD shows around the country.
The Houseboat Hirers Division aired a Channel 7 advertisement in the lead-up to warmer months, with additional support from Zest Advertising. This initiative sparked renewed interest in various boating experiences, including power boats, fishing, and paddling. However, post-flood navigational issues—particularly upstream due to changed channel conditions—remain unresolved, alongside ongoing concerns around slipways and haul-out facilities.
Stage 2 of the SA Recreational Boating Strategy opened for consultation, and the BIA made a formal submission on behalf of members. Our goal was to offer practical recommendations that would enhance safety and enjoyment for all boating participants.
The SA Boat and Fishing Show, held in October 2024, saw strong member participation. The BIA hosted a stand promoting careers in the marine industry and held a well-attended member function on the Saturday evening of the show.
The Rotary Youth Sailing Challenge again delivered a successful voyage aboard the One & All in October 2024, with 23 young participants. This program continues to provide transformative opportunities for youth, building confidence, teamwork, and maritime skills.
In November, our training partner—the Australian Institute of Engineering (AIE)—held a 3-day hands-on workshop at Dockyard for marine apprentices. This marked the continued success of our industry-aligned training model, now in its fourth year.
Later in the year, division meetings were held for both the Marina and Environment Division (at CYCSA) and the Houseboat Hirers Division (at Swan Reach).
A milestone was achieved through ongoing discussions with AMSA, as the Houseboat Hirers Division released a Commercial Houseboat Show-out Advice in December 2024. This provided long-awaited clarity on Exemption 48 and show-out operations, resolving many of the issues faced by commercial houseboat operators.
Thank you to my fellow councillors, especially Trish Flaherty for her 9 years of dedicated service, and to directors Andrew and Richard. I also wish to acknowledge George and Nik for their exceptional contributions.
As per the Constitution, it is now time to retire from my Chair role.
I have enjoyed my time, and I am grateful for all the support I have received, especially during some of the more challenging times we have faced as an industry, and I wish the new executive team all the best.
Miriam Griffen Chair, BIA South Australia State Council
SOUTH AUSTRALIA STATE COUNCIL 2024
COUNCILLOR
Miriam Griffen
David Binks
Allen Buckley (resigned April 2024)
Tim Cook
Rob Cuming (resigned April 2024)
Jason Day
Jason Deckers
Trish Flaherty
Andrew Hayes
Micheal Hawkings (resigned April 2024)
Richard Hopkins
James Theodore (appointed April 2024)
Binks Marine Councillor
Riverdance Houseboat Councillor
Club Marine Limited Councillor
Christies Beach Marine Councillor
Dockyard Councillor
Seatrail SA Councillor
NM Insurance Pty Ltd Councillor
Hallett Australia Councillor
Rubber Ducky Doctor Councillor
EJ Milde & Co Pty Ltd Councillor
Lenta Marine Councillor
Griffens Marina
OUR MEMBERS
MEMBERSHIP PROFILE END 2024
Membership numbers as at end December 2024 were 688, consisting of a make-up of 637 full financial members, 22 life members, 11 trade members and 18 industry supporter members.
The annual membership renewal for 2024 saw a slightly lower retention rate, with around 7 per cent of memberships not continuing. However, during 2024, there was good interest from new members to be part of the Association, with 70 new members joining and 3 returning memberships, making up the final membership for end 2024.
MEMBERSHIP BY STATE
The state-by-state breakdown of full financial members shows 306 located in NSW, 204 in Queensland, 71 in SA, and 56 reporting a head office based in another state.
YEAR IN REVIEW
BIA made strides in its efforts to sharpen its focus on its strategic key priorities which are:
• Grow Participation in Boating
• Deliver Government Advocacy
• Deliver Industry-Focused Programs, Products and Services
• Promote Education, Skills and Jobs
GROW PARTICIPATION IN BOATING
BIA continued to put an emphasis on its work to promote participation in boating and in doing so, not only delivered on a key priority for its members but connects with and represents the broad boating public.
The team delivered the Discover Boating advertising campaign which ran for three months across the summer period. The campaign generated significant improvement on all metrics compared with last year including:
• 18.6m impressions on TV across 2,302 spots
• 7.05m digital impressions
• 4.4m online video views
• 74.7k went to the website after viewing the video
• 1.5m viewers watched 100 per cent of the video online
• $0.02-$0.13 average cost per view depending on platform
• 2.6m impressions on social media ads
• 2.9m plays of video on social media
• 702k people watched 100% of video on social media
YEAR IN REVIEW
The Discover Boating campaign included for the first time PR activity that involved a Media Day at Pittwater where journalists were given a guided experience to showcase safe, responsible and enjoyable riding on personal watercraft. This generated 27 positive media stores across print, online, broadcast and social media.
Events are an integral part of this strategic priority, and the Sydney International Boat Show delivered a $353M impact on the economy and created 903 jobs. The event attracted almost 47,000 people and not only delivered a significant economic result but also proved a success in social benefit. 87 per cent of respondents agreeing that the Show helps to promote and educate a healthy lifestyle through boating. 73 per cent strongly agreed or agreed that the Show helps to promote participation in boating to people of all ages, genders, abilities, and budgets.
DELIVER GOVERNMENT ADVOCACY
BIA continued to represent industry on 12 International committees, 37 National or State committees and forums.
The overall approach to advocacy is to promote awareness of the economic and social benefits delivered by boating across Australia. The boating economy generates significant benefits with the industry’s national turnover of $10.12 billion, directly employed more than 27,500 people with more than 8250 contractors. Seventy-five per cent are in small family businesses, employing local workers and supporting local communities.
In Australia, more than 85 per cent of the population live within 50km of the coast, so it is little wonder that almost 1 in 5 households can have a boat or watercraft and that approximately 5 million go boating each year. People of all ages, gender and ability participate in boating across paddle, sail and power for leisure and sport.
BIA continued to put a priority on supporting marine careers, new and improved infrastructure including marinas, improved policy in areas such as boating regulations, commercial marina leasing, and access to the waterways for all forms of boating.
BIA also continued to work with ICOMIA to promote awareness amongst regulators and key stakeholders to a project titled Propelling Our Future, which is based upon an international decarbonisation and life cycle analysis study into the recreational boating sector.
BIA holds key roles on the ICOMIA Sustainability Committee and drafted ICOMIA’s Climate Change Policy paper.
ICOMIA commissioned the decarbonisation study to provide the recreational boating sector with focus on the global challenge presented by greenhouse gas (GHG) emissions. Whilst the recreational boating sector contributes 0.1 per cent of global emissions when compared with 20 per cent by the transport sector, the BIA understands the need to ensure policy makers make informed decisions related to recreational boating.
In summary, the 500+ page ICOMIA report concludes there is ‘no one size fits all’ when it comes to decarbonisation of propulsion systems. The biggest reduction in GHG emissions is possible by putting sustainable drop in fuels into the existing fleet around the world.
DELIVER INDUSTRY-FOCUSED PROGRAMS, PRODUCTS AND SERVICES
Marine Card continued to provide a valuable tool for industry where employees, contractors and workers, along with DIY boat owners, use the card as evidence that they have participated in the Marine Card induction. Marinas, boatyards and other marine worksites accept the card, often as a condition of entry to the site.
By year’s end, this marine industry workplace health and safety program had almost 5000 active card holders along with a network of 45 businesses running the Access Management System. The latter being the online venue portal that supports businesses by validating all those working on their site have completed the appropriate inductions and hold appropriate accreditations including insurance.
PROMOTE EDUCATION, SKILLS AND JOBS
During the year, BIA took on the lead role for Marine Jobs for the wider marine industry in Australia with abroad program that encompasses the following: social media page and dedicated website, running careers events and marketing, work with governments at State and Federal levels, and engaging key stakeholders such as the RTO to promote jobs and skills for the marine industry all under banner of Marine Jobs.
The BIA worked closely with TAFE (Technical and Further Education) in a number of States, helping build courses and guiding member businesses towards sending young people to do their TAFE training. BIA has partnered with The Industry School (formerly the Australian Industry Trade College) to establish the Marine Academy for young people from school years 10, 11 and 12 in Australia (ages 15 to18). This industry driven Academy provides a pathway to a marine career while students complete senior school.
BIA was developing a mentoring program for skilled marine industry individuals who might want to launch their own small business, step into the shoes of a retiring owner or build on their knowledge with the view of progressing their career.
BIA believes the future of our industry is reliant on a commitment from industry as a whole to support the promotion of jobs, skills and training. The BIA has recognised and championed this belief regarding marine jobs since its origins in the 1960s.
FINANCIAL REPORT AND SUMMARY
FOR THE YEAR ENDED 31 DECEMBER 2024
The audited Financial Report for the year ended 31 December 2024 identifies a surplus from operational activities of $2,738, and an after tax (deficit) of ($47,259). The tax component is calculated on ‘non-member’ or external income, largely from our income streams on invested funds.
The net present value of ‘available-for-sale financial assets’ (equity investments managed by the Veridian Finance Group, Asgard eWrap Investments) continued to increase in capital value on previous years for the BIA, now valued at $2,737,904 and provided investment income of $162,459 in 2024. Term Deposits of $5,000,000 are invested with the Commonwealth Bank, at circa 4.5%. Average Members funds are $7,741,298 as at December 2024, up on previous years of $7,634,169, reflecting the unrealised profit for 2024. The BIA continued to make the necessary financial decisions to maximise revenue opportunities and minimise costs, ensuring a sound financial position for 2025.
Our overall Sales income for 2024 was $6,579,150 as against $6,686,964 in 2023. Our Show contribution towards income was $5,050,814. The Sydney International Boat Show traded well in 2024, providing a solid gross margin. Membership increased in 2024 as against 2023, other general business income streams, being down against 2023, same too were our expenses in 2024 as against 2023. Total outflow of funds for the year, including overheads, was $6,576,412, excluding income tax of $49,997.
We created a provision for tax in the 2023 balance sheet. The overall tax liability held in the balance sheet reflects taxes on external income streams and the Capital Gains Tax (CGT) as accrued from the profit on sale of Hume Street. We continue to pay for these taxes out of cashflow during 2024 and 2025.
In 2024, the BIA retained key personnel and remains in a strong strategic, and financial position to support its core objectives which are to:- grow participation in recreational boating; strengthen government advocacy and support for our members; and expand our professional development and career pathways.
Full Financial Reports of the BIA Ltd are available at bia.org.au and a link has been emailed to all members. The Financial Report was prepared and presented in accordance with Australian Accounting Standards (including the Australian Accounting Interpretations) and the Corporation Act 2001. BIA are required to report related party transactions between Directors and the businesses they are related to. This disclosure is reported as Note number 14 in Notes to the Financial Report (page 21). These transactions with Director-related companies were on an arm’s length basis and are all business-to-business transactions. Income and expenses derived from the related parties would have been the same had they not been related.
The related party transactions relate to membership subscription fees. Our Directors offer their time and support to improve, and develop the industry, and they receive no remuneration for this contribution.
The financial decisions the BIA made during 2024 were again, not easy. They were decisions to ensure our longevity, for 2025 and beyond. Our strategic mission and goals, on behalf of our members and the boating community, will continue to be achieved through support from our membership, our dedicated staff and direction from our Board.
INCOME EXPENDITURE
STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2024
CURRENT ASSETS
Cash and cash equivalents
Trade and other receivables
Other assets
TOTAL CURRENT ASSETS
NON-CURRENT ASSETS
Property, plant and equipment
Other financial assets
Intangible assets
TOTAL NON-CURRENT ASSETS
TOTAL ASSETS
CURRENT LIABILITIES
Trade and other payables
Employee entitlements provision
Deferred income
Lease liabilities 29,983 Other provision
TOTAL CURRENT LIABILITIES
NON CURRENT LIABILITIES
Lease liabilities
TOTAL NON CURRENT LIABILITIES 134,910 134,910 134,910 134,910
TOTAL LIABILITIES
NET ASSETS EQUITY
Reserves
Accumulated surplus
TOTAL ACCUMULATED FUNDS
Provision for income tax 2024 $ 5,317,666 522,144 145,553 5,985,363 215,243 2,737,904 33,559 3,145,766 9,131,129 112,809 125,449 702,508 263,690 1,254,921 1,389,831 7,741,298 852,815 6,888,483 7,741,298 2023 $ 5,513,430 824,429 551,322 6,889,181 384,469 Right of use assets 159,060 –2,583,305 36,001 3,003,775 9,892,956 631,449 110,824 843,545 453,026 2,123,877 2,258,787 7,634,169 698,217 6,935,952 7,634,169
Email info@bia.org.au
