Juventus Turin closed the 2019-20 financial year with a loss of 71.4 million euros, with a net financial debt of 385.2 million eurosAccording to the balance sheet presented this Friday by the board of directors of the Turin sports entity by videoconference at the ordinary shareholders' meeting.
Thus, according to the accounts presented by the president of the entity, Andrea Agnelli, the revenue recorded in the recently concluded campaign was 573.4 million euros, which represents 8% less than what happened at the end of the 2018-19 fiscal year (621.4 million income), undoubtedly affected the income statement by the crisis marked by the coronavirus pandemic and that forced, among other issues , a break from the competition and having to play without an audience, and despite the savings of 90 million euros in salaries, by virtue of the agreement made between the club and the players and the coach.
In the 2018-19 season, the loss for the year stood at 39.9 million euros.
Net financial debt as of June 30, 2020 stands at 385.2 million euros, in growth in relation to the last December 31, when the effects of the capital increase of 298 million made by the entity had been reflected. Juventus also contemplates that, given the current economic and financial context, marked by the coronavirus, a loss is also expected at the end of the next financial year 2020-21.