Official – Inter Shareholders Approve Loss Of €102.4 In Today’s Shareholders Meeting
Inter’s annual shareholders meeting took place this afternoon and the club have put out a statement on the official club website regarding the approval of the financial statements for the 2019/20 financial year.
The financial year was heavily impacted by the global COVID-19 pandemic which initially saw the 2019/20 season postponed.
The season resumed but did so without fans in the stands which hit all clubs’ pockets. This results in lost revenue which was only partially mitigated by an insurance policy that the club had in place.
In the statement Inter have that this year they saw a drop in revenues of around €45 million to €372.4 million, EBITDA of €14.5 million and losses of €102.4 million.
Due to the 2019/20 season not ending until August 31, Inter have confirmed that they had to defer the inclusion of revenues from TV rights and sponsorships worth approximately €51 million, which will be added on to next years financial statements.
Net of the deferral, the EBITDA amounted to €46 million compared to €105.2 million in the previous year. The club go on to add that the operating loss was reduced to €70.7 million and the club’s total revenues amount to €423.7 million, which are 2% better than the previous year and more than double the revenues recorded in 2016, the year Suning took charge.
Inter have also revealed that they are the 14th most valuable brand in football with a total value of €466 million. They have climbed 15 positions since 2016 in these rankings following a 235% growth. Moreover, Inter are the 20th highest marketable sports brand worldwide and 7th most marketable among football clubs alone.