“We exist to build and improve the performance of athletes and teams”: 2018 Catapult AGM recap
On November 20th, Joe Powell, Catapult’s Chief Executive Officer, led the company’s AGM in the boardroom of its Melbourne headquarters. Taking investors through the highlights of the 2018 financial year, a business update and other recent activities, Joe clarified the company’s purpose, vision and strategy.
“We start with our purpose: we exist to build and improve the performance of athletes and teams,” said Joe. “Around 18 months ago, we knew as a company that we had to provide clarity around our purpose – why we exist and why we operate. Catapult was commercialised in 2006 and since then has grown organically and from some very effective acquisitions into the thriving and successful global technology business we know today.”
Joe also underlined the potential for Catapult to grow further in the coming years, highlighting the size of the business’ addressable market.
“Today there are more than 1,800 elite organisations in 128 countries from 35 sports globally partnering with Catapult. The potential for strong and continued growth from our core business is significant. This is because we believe there is a large and growing addressable market. We believe there are 10,000 teams currently in this market and an additional 10,000 will push up into it over time.”
As well as focusing on market growth, Joe also spoke about Catapult’s commitment to innovation as the company seeks to deliver the next generation of sports performance technologies.
“Innovation is central to our continued growth and industry leadership. Our current innovation focus for elite is in delivering a next-generation video product that will drive the elite video business from its single-digit revenue growth profile. Catapult VISION is the first phase of this and allows us to take the video coaching platform from an offering for North American sports, to a global offering for all team sports across all platforms.”
Some commercial highlights from the last 12 months:
– The marquee signing of the French Football Federation, which includes the 2018 FIFA World Cup Champions, the French men’s national team. In total, 15 of the 32 teams at the World Cup used Catapult technology.
– An agreement with Real Madrid, one of the biggest and most successful clubs in the world. The agreement will see the club’s football and basketball teams use Catapult’s wearable technology and ClearSky solution, as well as including the integrated services of a Catapult performance consultant.
– The Confederation Africaine de Football (CAF), along with 54 countries under its jurisdiction, will be supplied with world-leading athlete monitoring technology to advance team and player performance. The partnership will see more than 2,500 PLAYERTEK+ devices supplied to CAF teams.
– The Football Association of Wales (FAW) have equipped their senior men’s national team, as well as their U21, U19 and U17 age-group squads with Catapult. In addition to wearable technologies, the FAW will be implementing Catapult AMS to assess and share performance, medical and wellness data internally from a centralised software platform.