As expected, Juventus have announced a €19m loss for the 2017-18 financial year, largely due to a €58m drop in revenue.
It was predicted yesterday that the Bianconeri would announce a loss for the most recent financial year, as Exor, the holding company, had previewed it in its own financial statements.
As expected, Juventus have announced a €19m loss for the 2017-18 financial year, largely due to a €58m drop in revenue.
It was predicted yesterday that the Bianconeri would announce a loss for the most recent financial year, as Exor, the holding company, had previewed it in its own financial statements.
Today the board of directors has signed off on the accounts which confirm “the 2017/2018 financial year closed with a loss of €19.2m, with a negative change of €61.8m compared to the €42.6m profit of the previous year”.
The main contributory factor was a €58m drop in revenue, as well as “higher amortisation and depreciation on players' registration rights of €25m” but was mitigated by “lower expenses from players' rights of €30.4m, lower taxes of € 6.6 million and, finally, lower wages and technical staff costs”, the last of which amounted to €2.8m.
Juventus’ net debt grew €147.3m to €309.8m, which was largely down to transfer campaign outlays of €119.5m, as well as the “negative cash flow of operations” at €-8m and “investments in other fixed assets and shareholdings” which added €13.2m to the debt.
The accounts only cover the period up to June 30, but do also contain a breakdown of this summer’s transfer campaign.
The summer transfer window “led to a total increase in invested capital of €220.8m resulting from acquisitions”, while “net capital gains” from sales was €35.6m, with €27m in revenue from loan deals.
The Old Lady sold 29,300 seasons tickets for a net revenue of €29.7m, up €4m from last season due to an increase in prices.
Juventus predict a loss for the 2018-19 season but that will be “strongly influenced by the performance of sports results and in particular the UEFA Champions League”.
Last year’s quarter-final exit was largely responsible for the big drop in revenue, as Juve reached the final in 2017. There was a €32.6m drop in revenue from television and radio, and a €1.4m drop in ticket sales.
The squad has a book value of €330,827,660 which is an increase of €28.8m compared to last season.