(Finance) – Juventusa football club listed on Euronext Milan, closed on first semester of the 2023/2024 financial year (as of 31 December 2023) with one loss of 95.1 million euros, a worsening of 65.6 million compared to the loss of 29.5 million recorded in the first half of the previous financial year; the first half of the current financial year is penalized for approximately 60 million economically by the direct effects related to the failure of the First Team to participate in UEFA competitions.
The increase in loss is substantially attributable to minors revenues and income for a total of 85.6 million euros, mainly due to lower revenues from audiovisual rights and media revenues for 47.3 million (which includes approximately 56 million relating to lost revenues deriving from participation in UEFA competitions) and by lower income from management of players’ rights (25.5 million), partly offset by lower operating costs, amortization and provisions for a total of 22.1 million. The net result was also affected by higher net financial charges of 4.1 million, lower taxes of 1.8 million and other minor items which generate a net positive effect of approximately 0.2 million.
L’net financial debt at 31 December 2023 it amounted to 326.8 million euros, decreasing in the half-year, compared to the value of 339.9 million at 30 June 2023, by 13.1 million due to the positive cash flow for the period.
Juventus explains that the net result of thefinancial year 2023/2024 And expected to be at a loss, higher than that of the previous year for the significant negative effects – direct and indirect – deriving from the failure of the First Team to participate in UEFA competitions. On the basis of current forecasts, the group’s net result, excluding the aforementioned negative effects, although still at a loss, would show an appreciable improvement compared to that of the previous financial year, above all thanks to the incisive structural cost rationalization actions implemented starting from the period pandemic. Net financial debt at the end of the year is expected to significantly reduce compared to that of 31 December 2023, mainly due to the completion of the capital increase operation.