Financial Report: Juventus use shareholders' equity to cover mounting loss
23 September 2020
The Italian champions managed to reduce their operating costs by ten per cent last season, but declining revenue and rising amortisation led them to record a pre-tax loss of €81.7 million.
A share capital increase in January of €298 million was used to cover the loss which rose 204 per cent from the previous season.
Matchday and broadcasting income unsurprisingly fell significantly due to the coronavirus pandemic.
Juventus last season secured an impressive ninth successive Serie A title, but the glory of another championship has not made them immune from the impact of the coronavirus pandemic which continues to affect the football industry.
The club's just-released financial report for the 2019/20 season has revealed the concrete negative financial impact the crisis has had on Juventus but also that they are well-suited to ride out the storm for the foreseeable future.
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