With a modest operating surplus of $342,667 (up from an operating deficit of $2.1 million the year before) the company’s bottom line was bolstered by a number of significant bequests.

Opera Australia has posted an operating surplus of $342,667 for 2018, on turnover of over $115 million dollars, the company announced in its annual report. The modest surplus is a positive sign for Australia’s largest performing arts company, which posted an operating deficit of $2.1 million in 2017, when the Sydney Opera House’s Joan Sutherland Theatre was closed for seven months for renovations. Bolstered by a number of significant bequests, the company has posted a consolidated profit of $5,590,519 for 2018, which OA Chair David Mortimer described as “a year of consolidation”.

Nicole Car in Opera Australia’s La Traviata. Photos © Prudence Upton

The operating surplus was “in line with expectations,” OA CEO Rory Jeffes said. “In 2018, Artistic Director Lyndon Terracini again delivered an outstanding season of programming and the OA singers, artisans and musicians continued to deliver high calibre productions which are now synonymous with the company,” he said. “The positive operating result is a reflection of the company’s strong commitment to fiscal responsibility, artistic capability and ensuring the long term success of the organisation and the sector more broadly.”

Artistic Director Lyndon Terracini described 2018 as a “wonderfully successful year”, highlighting –...