Real Madrid closed the 2019-2020 season with a surplus of 313,000 euros. A minimal benefit, but a positive result at the end of the day, in a very difficult context due to the outbreak of the pandemic. That is the figure that appears in the closing of the white accounts of last year, which the Board of Directors approved at its meeting today and will submit to the ratification of the Assembly of Representative Members that it has called for Sunday, December 20. The revenue budget for this campaign will be 616.8 million euros, 14% less compared to the closing of accounts last season (25% less if you take into account what was budgeted) and similar to those that the club registered four seasons before, in 2015-2016. If not for the pandemic, the club estimates that it would have prepared a budget that would be around 900 million euros, 300 million different from what was projected.
The white entity closed the year with revenues of 714.9 million euros, 5.6% less than in 2018-2019 and 13% less than budgeted (822.1 M €), due to the impact of COVID-19 on the sports and commercial activities of the club. The pandemic has meant a loss of income of 106 million euros, which has been partially offset by the savings of 16 million in costs associated with the development of these activities.
The club highlights the effort made to contain spending to balance the accounts. The players and coaches of the first football and basketball squads and the main executives of the club have voluntarily lowered their salary by 10%. The club has also made adjustments to operating expenses that represent 8% of the entity's total annual expenses.
Madrid closed the financial year on June 30 with a net worth of 533 million euros and a treasury of 125 million euros. This last figure does not take into account the treasury that corresponds to the development of the stadium works, for which it has executed a first provision of 100 million of the loan with which it will finance the remodeling of the Bernabéu. The accumulated investment so far in these works is 113.7 million euros.
Likewise, between April and May, the club requested several five-year loans for a total amount of 155 million euros and a credit of € 55 million over three years to face the loss of income and the postponement of the collection of some sponsorship contracts and subscription fees.
Main figures of Real Madrid's annual accounts in the 2019-2020 season
| 2018-19 | 2019-20 | |
| Income (before result of the disposal of fixed assets) | 757.3 | 714.9 |
| EBITDA | 176.3 | 176.9 |
| Result after tax | 38.4 | 0.3 |
| Net worth as of June 30 | 532.8 | 532.9 |
| Treasury as of June 30 | 155.7 | 125.3 |
| Net debt as of June 30 | -27.1 | 240.6 |
| Debt / ebitda ratio | 0.0x | 1.4x |
| Debt / equity ratio | 0.0x | 0.5x |
Source: Real Madrid
Figures, except ratios, in millions of euros.
The club paid a total of 286.4 million euros in tax and Social Security fees. The club also points out the 3.3 million euros it donated to the City Council, the Community and the Sanitary Supplies Center for the purchase of sanitary supplies to combat the pandemic.
The Members' Assembly, on December 20
The Representative Members must approve the accounts presented at the Ordinary General Assembly called for Sunday, December 20. This year, due to exceptional sanitary circumstances, the meeting will be telematic.
To organize the new format, The club has been in contact with the representative members since last week (both veterans and new ones who were elected in the elections held on October 3 and 4) to verify that the personal and contact data held by the club are correct and to guarantee the delegates their telematic attendance at the Assembly.
At the end of the ordinary session, an extraordinary session of the Assembly will also be held to elect the members of the Social Discipline Commission and the Electoral Board for the period 2021-2025.