• Over 1000 in Free Bets
    Get Free Bets for Football!
    Take advantage of these amazing promotions while it lasts. Now you can bet with the finest bookmakers and get the best deal on the Net. [+]
  • Live Streaming Football
    As a Bet365 customer you can watch live streaming football, horse racing, tennis & hockey etc. Live betting available for all sports! [+]

Juventus profits drop

Juventus have announced a €6.5million drop in profits for the first half of the 2013-14 financial year.

The Serie A leaders’ profits fell from €11.3m to €4.8m compared to the same point a year earlier, with the club blaming the drop, in part, on an increase in player wages.

In addition, Juve’s net debt has climbed almost €30m from €160.3m to €188m.

A statement published on the club’s website read: “The first half of the 2013-14 financial year closed with a profit of €4.8m, posting a negative change of €6.5m compared to the profit of €11.3m registered in the same period a year earlier.

“This performance substantially derived from the increase in players’ wages and technical staff costs of €11.6m, a slight increase in revenues of €5.8m (also negatively influenced by one less home match in 2013-14 half year), as well as other net negative changes of €700,000.

“These net negative changes mainly included operating costs (€600,000), net financial expenses (€800,000), amortisation of players’ registration rights (€700,000) and income taxes (€300,000), partly offset by lower provisions and write-downs (€1.7m).

“As of December 31 2013 Shareholders’ equity totalled €53.5m, an increase compared to the balance of €48.6m at June 30 2013 due to the profit for the half year (+€4.8m) and changes in the cash flow hedge reserve (+€100,000).

“Net financial debt at December 31 2013 amounted to €188m (€160.3m at June 30 2013).

“The net decrease of €27.7m was driven by Transfer Campaign net payments (-€25.7m), advances paid to the City of Turin and various suppliers in relation to the Continassa Project (-€4.6m), other investments (-€4.5m) and financial flows (-€3.7m).

“These negative cash flows were partially offset by positive cash flows from operations (+€10.6m) and other net changes (+€200,000).”

Fri 28 Feb, 2014
RSS Feed
Buy Soccer Tickets Largest selection of premium soccer tickets for the Premier League, MLS, La Liga, Serie A, European Cups, World Cup etc. Click Here

Add your comment