F.C. Internazionale Milano S.P.A board approves 2023/24 financial results
Club
— YesterdayTotal revenues of €473 million, marking an increase of +€48 million Significant reduction of losses to -€36 million (an approximate €50 million improvement compared to 2022/23) After the end of the season, the new majority shareholder recapitalised the club with €47 million: €44 million in fresh funds and conversion of the remaining €3 million from shareholder loans.
MILANO, 25 September 2024 – The F.C. Internazionale Milano S.p.A. board of directors has yesterday approved the draft financial statements for the 2023/24 financial year, following a meeting at club headquarters. The financial statement will be submitted for approval at the F.C. Internazionale Milano S.p.A. shareholders’ meeting to be held at the end of October.
FURTHER REVENUE INCREASE AND SIGNIFICANT REDUCTION OF LOSSES
There was a further significant decrease in losses compared to the 2022/23 financial year, with the figure falling by around €50 million from €85 million to €36 million. This was partly achieved by a revenue increase of approximately €48 million to €473 million thanks to positive sporting results leading to an increase in commercial turnover. Meanwhile, production costs remained stable at €464.5 million, resulting in a net improvement to production value of €9 million, compared to losses of €40 million in the previous financial year.
RECAPITALISATION BY THE MAJORITY SHAREHOLDER
Since 22 May 2024, funds managed by Oaktree Capital Management, L.P. (“Oaktree”) assumed ownership of F.C. Internazionale Milano S.p.A. as the new majority shareholder. In the first quarter of the 2024/25 financial year, the majority shareholder completed a recapitalisation operation totalling€47 million. The club’s equity reserves have been increased by €44 million through direct cash injections, with a further €3 million from the conversion of the final portion of shareholder loans. The majority shareholder’s investment is a demonstration of its commitment to the Club’s financial and operational stability to support the highest level of performance on and off the pitch.
OUTLOOK FOR THE CURRENT SEASON
The club’s summer transfer dealings balanced the acquisition of top-level players while progressing the objective of sustainable growth and success. In addition, since the start of the 2024/25 season, the Club has signed new partnership deals, adding further value to the Nerazzurri shirt and confirming the international appeal of the Inter brand. This included infotainment giant Betsson Sport, which now appears on the front of the Inter jersey thanks to the biggest such deal in the club’s history, and Gate.io, one of the world’s leading cryptocurrency exchanges, as the new sleeve sponsor.