Juventus
    Juventus
      28.02.2014 19:00 - in: Financial statements S

      Board of Directors approves half-yearly finance report

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      The club’s Board of Directors approves figures for the first half of the 2013/14 financial year

      The Juventus Football Club S.p.A. Board of Directors has today approved, in a meeting held under the chairmanship of Andrea Agnelli, the Half-Yearly Financial Report at 31 December 2013.

      The first half of the 2013/2014 financial year closed with a profit of € 4.8 million, posting a negative change of € 6.5 million compared to the profit of € 11.3 million registered in the same period a year earlier. This performance substantially derived from the increase in players’ wages and technical staff costs of € 11.6 million, a slight increase in revenues of € 5.8 million (also negatively influenced by one less home match in  2013/2014 half year), as well as other net negative changes of € 0.7 million. These net negative changes mainly included operating costs (€ 0.6 million), net financial expenses (€ 0.8 million), amortisation of players' registration rights (€ 0.7 million) and income taxes (€ 0.3 million), partly offset by lower provisions and write-downs (€ 1.7 million).

      As of 31 December 2013 Shareholders' equity totalled € 53.5 million, an increase compared to the balance of € 48.6 million at 30 June 2013 due to the profit for the half year (€ +4.8 million) and changes in the cash flow hedge reserve (€ +0.1 million).

      Net financial debt at 31 December 2013 amounted to € 188 million (€ 160.3 million at 30 June 2013). The net decrease of € 27.7 million was driven by Transfer Campaign net payments (€ -25.7 million), advances paid to the City of Turin and various suppliers in relation to the Continassa Project (€ -4.6 million), other investments (€ -4.5 million) and financial flows (€ -3.7 million). These negative cash flows were partially offset by positive cash flows from operations (€ +10.6 million) and other net changes (€ +0.2 million).

      The press release

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