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