Juventus closed “the first half of the 2022/2023 financial year with a loss of 29.5 million euros, showing a significant improvement (82.6 million) compared to the loss of 112.1 million recorded in the first half of the year previous period; this improvement derives in part from the disappearance of the negative effects of the pandemic (especially with reference to revenues from matches), in part from the revenue development and cost rationalization actions set in previous periods and continued in the current one”. In the interim report released in the afternoon, the club explained that “the decrease in the loss for the first half of the year is substantially attributable to higher revenues and income of 53.1 million, related to higher income from players’ rights management (37.4 million) and higher revenues from matches (€15.2 million).The aforementioned economic improvement is also attributable to lower costs for registered personnel for €30.3 million, lower amortization of players’ registration rights for €9.4 million and lower charges from players’ rights management for €8.5 million.These improvements were partially offset by higher costs for external services for €10.6 million, higher provisions for €3.5 million, higher taxes for €2.3 million, higher purchases of products for sale for €1.6 million and other minor items for €0.7 million”.
ASSETS AND INDEBTEDNESS
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“The Group’s shareholders’ equity as at 31 December 2022 – we read – is equal to 135.2 million, a decrease compared to the balance of 164.7 million as at 30 June 2022 due to the result for the half year (€ -29.5 million) Net financial debt at December 31, 2022 amounted to €333.0 million (€153.0 million at June 30, 2022). This is the most significant passage and those 330 million that weigh, more than doubled compared to last June. “The increase in debt is only partially related to current operations; in fact, it is mainly determined by the net payments linked to the Transfer Campaigns of previous years (-67.0 million), by investments in tangible, intangible and other fixed assets (-50.5 million, of which -47.6 million, non-recurring, relating to the purchase of the buildings that house the registered office and the Juventus Training & Media Center), from the aforementioned negative flows from operating management (-55 .7 million, of which -42.6 million, non-recurring, relating to the payment of the installments of contributions and withholdings from previous years, the deferral of which had been permitted by the Relaunch Decree articles 126 and 127 then amended by Legislative Decree 104 of 14 August 2020, by Law 178/2020 and Law 234/2021) and by the disbursement for financial charges and other minor items (-6.8 million).It should be noted that, in consideration of the normal seasonality of the business and hypo assuming the absence of non-recurring events in the second half of the year, it is foreseeable that the net financial debt at the end of the 2022/2023 financial year will settle in the range of that at the end of December 2022”.
March 24, 2023 (change March 24, 2023 | 20:46)
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