With their average attendances dropping below 24,000 this year and their membership numbers declining by approximately 2000, the Saints have struggled on and off the field.

The fact they had one co-major sponsor in 2014 also affected the financial result, as did a turndown in merchandise sales and fundraising.

But CEO Matt Finnis says the Saints were always going to have to weather some difficulties across a span of a few years, and is confident they will move back to a stronger position as the team improves.  

"We're building a plan that is really clear and '14 and '15 are about resetting foundations and a base, from which we can then really move into a growth orientation through 2016 and 2017," Finnis told SEN on Tuesday.

"At that point you want to be reinvesting back into your football program.

"We've got room in our salary cap (and) we want to be a destination club for free agents in that period, so we've got to build out a business model to be able to attract players in, and that's certainly what our plan is about right now.

"That's why you can't just cut your cost and cut yourself out of relevance.

"We're actually investing in our football program because we've got so many young players.

"We've got to make sure the coaches and the development and sports staff are around those guys to ensure they can turn it around quickly."

The official figures reported an operating loss of $2,356,818, and a statutory loss of $3,912,922.

This happened despite the club's expenditure dropping by $460,813 for the year.

Finnis admitted they were disappointing financial figures and supporters had the right to feel uncomfortable with the club's position.

However, there appears cause for optimism, with the Saints' membership numbers for 2015 already nearly 2000 ahead of where they were 12 months ago.

Based on this, they are forecasting the first year of membership growth since 2010 – the year the Saints lost the Grand Final replay to Collingwood.

The Saints have a commercial bill – or bank loan – for approximately $6.5 million, as well as loan arrangements with the AFL, which aren't interest bearing.

Finnis said it had been important to be transparent with the AFL and to work closely with the League in regards to the club's finances, and believed clubs that were managed well could weather periods of on-field struggle.

"The AFL needs a successful St Kilda; this is a club which has got a really strong supporter base that we've got to reconnect and reengage with and we think that a healthy St Kilda is an indicator of a healthy AFL," he said.

"You realise you'll have your peaks and troughs with your on-field performance but you've actually got to be a more sustainable and robust business than that."

With just one co-major sponsor this year, Finnis said commercial growth was the area that had the most "upside straight away" and the club would work hard to improve that.

But he acknowledged the Saints had to prove they were worth being involved with.

"Sponsors like fans want to see and be associated with improvement and growth and we've got to demonstrate we're capable of that," he said.

"We are certainly in the market and doing our best to attract that but we've also got to be our own best sponsor to some extent and drive our own membership and attendance at our games."

The Saints continue to work with the AFL on improving their outcomes at home games at Etihad Stadium, as well as their "bayside engagement strategy" that could include Junction Oval, pending the result of Saturday's state election.

St Kilda president Peter Summers said this year's result was not acceptable and one club was "intent on never repeating".

"I'm confident the right changes have been made in the past 12 months to turn around our club on and off the field," Summers said.