As announced this morning by Inter in an official statement, the club has approved the balance for the 2023/24 season. Excellent news for Nerazzurri fans regards the economic results achieved in the last year, starting with the clear growth in turnover. As expected, losses decrease and are below initial forecasts, confirming the excellent work of the company.

Here is the statement from Inter: “The turnover stands at 473M, with an increase in total revenues of +48M. Strong reduction of losses to -36M (down about 50M compared to 2022/23). After the end of the season, the new majority shareholder recapitalized the Company for 47M, injecting new funds for 44M and converting the last share of shareholder financing equal to 3M”.

MILAN, September 25, 2024 – The Board of Directors of F.C. Internationale Milano S.p.A. has approved the draft balance for the fiscal year 2023/24, after a meeting held yesterday at the Club’s headquarter. The balance will be submitted for approval by the Shareholders’ Meeting of F.C. Internationale Milano S.p.A., which will be convened by the end of October.

CONTINUED INCREASE IN REVENUES AND STRONG REDUCTION OF LOSSES

There is a further significant decrease in losses compared to the fiscal year 2022/23, which went from 85 to 36 million euros, a decrease of about 50 million euros. This result is generated by an increase in revenues of about 48 million euros for a total value of 473 million euros, due to the results of the sports area that led to an increase in commercial turnover. At the same time the production costs remain fairly 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 by 9 million euros, compared to a loss of 40 million euros in the last fiscal year.

RECAPITALIZATION BY THE MAJORITY SHAREHOLDER

Since May 22, 2024, funds managed by Oaktree Capital Management, L.P. (“Oaktree”) are owners of FC Internationale Milano as new majority shareholders. The Majority Shareholder carried out a significant recapitalization operation for a total of 47 million euros during the first quarter of the 24/25 fiscal year. The net equity reserves available to the company therefore increase by 44 million through direct cash injections and by 3 million through the conversion of the last residual share of shareholder financing. The investments from the Majority Shareholder demonstrate the commitment towards achieving financial and operational stability for the Club, supporting the highest level of performance both on and off the field.

PERSPECTIVES FOR THE ONGOING SEASON

The summer market in preparation for the new season was carried out in substantial balance, bringing excellent level additions to the team whilst pursuing the goal of combining financial sustainability and sports success. In addition, since the start of the 2024/25 season, new key partnerships have been signed that have allowed to further enhance the Nerazzurri jersey, confirming the international appeal of the Inter brand. Betsson Sport, a global infotainment giant, is now featured on the front of the Nerazzurri jersey with the largest agreement of this kind in the history of the Club, and Gate.io, one of the main cryptocurrency exchanges in the world, on the sleeve.