Inter has officially approved the budget for the fiscal year 2023-24 ended June 30, 2024, following the Shareholders’ Meeting held today. This is the announcement made on the black and blue club’s website:
“The Shareholders’ Meeting of F.C. Internazionale Milano S.p.A. has approved the budget for the fiscal year 2023/24, at the end of the meeting held via teleconference today in the presence of President Giuseppe Marotta and Corporate CEO Alessandro Antonello. The Board of Statutory Auditors of F.C. Internazionale Milano S.p.A., which has expired, has been appointed in a new formulation for the 2024-2027 period.
The budget closed at June 30, 2024 is characterized by a further substantial reduction of losses compared to the fiscal year 2022/23, which went from 85 to 36 million euros, with a decrease of about 50 million euros. The total turnover for the season stands at 473 million euros, a historic record for the Club, showing an increase in revenue of around 48 million euros. The increase is linked to the results of the sports area that led to an increase in commercial turnover.
Production costs remain virtually stable compared to the previous year, for a total of 464.5 million euros. A direct consequence of these trends is a net increase in the value of production of 9 million euros, compared to a loss of 40 million euros in the last fiscal year.
Since May 22, 2024, funds managed by Oaktree Capital Management, L.P. “Oaktree” are the owners of FC Internazionale Milano as the new majority shareholder. Oaktree carried out a major recapitalization operation in the first quarter of fiscal year 2024/25, amounting to a total of 47 million euros. The net equity reserves available to the company therefore increased by 44 million through direct cash injections and by 3 million through the conversion of the last remaining tranche of shareholder financing. Investments made by the majority shareholder demonstrate the commitment to achieving financial and operational stability for the club, supporting the highest level of performance both on and off the pitch“.
