FC Internazionale Milano Board of Directors approves financial statements for 2020/2021
Club
— Sep 30th 2021Amidst the circumstances created by the Covid-19 pandemic, the Board of Directors has approved the consolidated financial statements as at 30 June 2021. The current season offers signs of recovery
MILAN - The F.C. Internazionale Milano S.p.A. Board of Directors has approved the consolidated financial results for the year 2020/2021. The results will be submitted to the F.C. Internazionale S.p.A. Shareholders' Meeting for approval by the end of October.
FINANCIAL FIGURES
The entire 2020/2021 financial year was significantly affected by the socio-economic impact of the Covid-19 pandemic – both in Italy and worldwide – and the restrictive measures adopted to safeguard public health and production activities.
Within this context, consolidated revenues were 364.7 million Euro. The financial year recorded losses of 245.6 million Euro, most of which due to the complete lack of matchday income following the closure of stadiums (compared to 2020, when stadiums closed in early March), the reduction in sponsorship contracts as a result of the Club being unable to provide benefits and the liquidation of sports contracts.
SEASON MILESTONES
The season concluded with Inter winning the Club’s 19th Scudetto title, awaited by the Club and all its fans for 11 years and which rewarded the project started by the ownership since its installation at Inter in 2016.
The 2020/2021 season also witnessed another major milestone in the launch of the Club's new crest and new visual identity, streamlining and strengthening two cornerstones of the Club's heritage – Internazionale and Milano. The redesign provides an innovative, modern, digital style that connects with the new generations and can be more easily fused with culture and lifestyle.
OUTLOOK FOR THE CURRENT SEASON
The Club swiftly initiated a rebalancing policy with two primary aims: to ensure financial stability and to maintain a competitive team on the field.
Summer transfer operations generated a positive economic impact on the path towards sustainability. The signing of experienced international players and the return of talented academy products were part of the drive to maintain a high level of on-field performance.
The Club's strategy is focused on monitoring costs, with the aim of quickly adapting the business to the changing context, while continuing to invest appropriate resources to develop the Club.
One major result was the significant increase in sponsorships value. The arrival of Socios.com and DigitalBits as well as the upgrade of Lenovo's positioning bear witness to the Club's constantly growing global appeal.
While stadiums are yet to return to full capacity, their partial reopening ensures the Club can once again tap into what is an essential revenue stream.
This action will enable us to significantly reduce the Group's losses for the 2021/22 season.