The AC Milan Shareholders’ Meeting today approved the results for the financial year ending 30 June 2023, presented by the Board of Directors meeting on 27 September 2023.
The final financial statement marks an important step along the path of growth and development of the Club, with the budget returning to profit for the first time since 2006, highlighted by a positive consolidated result of 6.1 million Euros (+72.6 million compared to the 2021/22 financial year), achieved without the contribution of capital gains from the sale of multi-year rights to the players’ performances and driven by revenues of €404.5 million (+106.9 million, +36% compared to the 2021 financial year /22), a new record in the history of Milan.
In particular, the positive acceleration of the Club’s economic performance was mainly supported by commercial revenues and sponsorships, up by 44.4 million Euros, by the increase in income from media and TV rights of 41.8 million Euros – due in particular to the excellent run in Europe, with the Rossoneri reaching the semi-final of the UEFA Champions League – and, finally, by the increase in revenue from match days and season tickets which recorded growth of 40.3 million of Euros, thanks to the support and constant passion of the Rossoneri fans.
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The financial statements closed on 30 June highlight how cash generation from operating activities was positive for 78 million euros (compared to 47 million in the previous year), demonstrating virtuous management of the company, while investment spending was equal to 79 million euros (compared to a positive balance of 21 million euros in the previous year) demonstrating the strong desire of the ownership and management to invest with a primary focus on strengthening the team, making it increasingly competitive and successful.
A further distinctive element in this direction is represented by the increase of 50.5 million in players’ performance rights, given that it will be even further strengthened by the value of the transfer campaign just concluded.
Finally, the analysis of the year under consideration highlights the significant financial support of the controlling shareholder RedBird Capital, through an investment of 40 million euros, aimed at pursuing the project for a New Stadium with determination.
“Combining sporting performance, international competitiveness and financial sustainability in football, within a virtuous path, is possible: the budget just approved is the most evident testimony of this, which marks an important step in the history of our Club, with the return to ‘useful after 17 years – commented Paolo Scaroni, President of AC Milan –. We are heading towards a new important chapter of evolution in the path of our Club, supported by the strategic vision of Gerry Cardinale, the skills of RedBird, the ability and determination of the entire management led by Giorgio Furlani and the talent of our teams, which will continue to excite and excite our fans.”
2023-10-23 15:31:00
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