(Finance) – Juventus Football Cluba football club listed on Euronext Milan, closed on balance sheet as of June 30, 2023 with a loss of 123.7 million euros (239.3 million as of June 30, 2022), partly influenced by the negative effects on revenues and costs related to the outcomes of Italian and international sporting proceedings.
The Board of Directors has updated the estimates of the 2023/24 – 2026/27 Planwhich confirms the strategic and development lines based on sporting competitiveness, strengthening the brand and consolidating the economic-financial balance, with a significant and structural reduction in net financial debt.
Based on preliminary estimates as of September 30, 2023, the first quarter of the financial year is expected to close with losses exceeding one third of the share capital and therefore the Board of Directors defined the guidelines of one capital strengthening maneuver to be implemented by reducing the share capital to the legal minimum and simultaneously increasing the share capital, for a fee, for a maximum of 200 million euros.
Exorthe holding of the Agnelli family, expressed its opinion support for the operationundertaking to subscribe to its share of the capital increase, equal to 63.8%, and has also expressed its willingness to carry out future account payments capital increase for a maximum of 128 million euros.
Juventus will consider establishing a guarantee consortium for the subscription and release of any new shares that may not have been subscribed.