MADRID, 13 Sep. (EUROPA PRESS) –
The Board of Directors of Real Madrid has called the Ordinary General Assembly for October 2, in which the results corresponding to the 2021-2022 season will be submitted for approval, among other matters, with a profit of 13 million euros and a net worth of 546 million.
Operating income for the year was 722 million euros, 69 million euros (10%) more than the previous year, as the economic effects of the pandemic gradually subsided. However, these still persist, since the revenue figure is 100 million lower than the 2019-20 budget; the loss of income that the club has suffered from March 2020 to June 30, 2022 is close to 400 million euros.
In addition, the white club has obtained an EBITDA of 203 million euros (180 million euros in 2020-21 and 177 million in 2019-20), higher than that achieved in 2018-19, and a profit of 13 million euros after deducting amortization expense, financial result and corporate tax expense; Thus, the entity manages to maintain profits in the three years affected by the pandemic.
Real Madrid has also reported that its net worth is, as of June 30, 2022, 546 million euros, an increase of 14 million compared to the situation in June 2019 before the pandemic. The cash balance, excluding the stadium remodeling project, is 425 million euros, and the amount of undrawn credit policies is 354 million euros.
On the other hand, the net debt is -263 million euros, which represents a net liquidity position -since the sum of the treasury and debtors for transfers is greater than the credit balances for investments, bank debt and advances-, reducing it by -310 million in one year. The Debt/EBITDA ratio stands at a value of 0.
Regarding the remodeling project of the Santiago Bernabéu stadium, an investment of 259 million euros has been recorded in the 2021-22 financial year, including the financial costs capitalized during the construction period. In this way, the accumulated investment until June 30, 2022 amounts to 538 million euros.
Regarding the loan, during this year the third drawdown (200 million euros in July 2021) and the fourth drawdown (225 million euros in May 2022) have been made, with which the loan is fully drawn down on 30 June 2022 in the amount of 800 million euros.
In another order of things, revenues of 769.6 million euros will be budgeted for the 2022-23 season, before disposal of fixed assets, as well as a profit before taxes of 5.0 million euros. The income budget represents an increase of 48.1 million euros (7%) compared to the 2021-22 financial year.
The revenue budget for the 2022-23 financial year is still €52.5 million (6%) lower than the 2019-20 budget, prior to the pandemic, which was €822.1 million.