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Juventus Posts Huge Loss For 2023/24 Financial Year Juventus Posts Huge Loss For 2023/24 Financial Year

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Juventus Posts Huge Loss For 2023/24 Financial Year

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Juventus forecast another year in the red as it reported on Friday a 199.2 million euro loss for the 12 months through June, though it said it would break even at the operating level in the current financial year.

The Italian Serie A soccer club reported a 22% decline in revenue, totaling 395 million euros, for the 2023/2024 financial year, attributed to their exclusion from European competitions due to accounting problems.

The full-year loss widened from 124 million euros the year before.

Milan-listed Juventus, which has been controlled by the Agnelli family for a century, had to raise around 900 million euros from its shareholders over the past five years in three separate cash call operations to beef up its balance sheet.

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“The operating result and cash flow are expected to be in the break-even range in the 2024/2025 financial year,” the company said, citing the return in the Champions League and cost-cutting behind the improvement.

According to a business plan approved last year, Juventus anticipates achieving a net profit in the 2026/2027 financial year.

The club last recorded a net profit during the 2016/2017 season.