Milan, 28 October 2021 – The F.C. Internazionale Milano S.p.A., Shareholders' Meeting, held via video conference, has approved the 2020/21 financial results, which were significantly impacted for the entire duration of the season by the effects of the Covid-19 pandemic.
The year saw consolidated revenues of €364.7 million and losses of €245.6 million. The impact of Covid-19 was approximately €110 million: around €70 million due to the complete lack of matchday revenue following the closure of stadiums and around €40 million due to the reduction in sponsorship contracts as a result of the Club being unable to provide benefits and partners' reduction in business. A further €30 million was due to the termination of sporting contracts.
Having reached the end of their respective terms, the F.C. Internazionale Milano S.p.A Board of Directors and Board of Auditors were re-appointed for the 2021-2024 three-year term.
The meeting began with President Steven Zhang speaking from Nanjing.
“Winning our 19th Scudetto is a memorable achievement and reward for the amazing work done by the team and everyone at the club, as well as the incredible passion shown by the Nerazzurri fans, who had been waiting 11 years for this moment,” said President Steven Zhang. “We have come a long way since we took over in 2016: Inter has become a global, successful, innovative club connected with the new generations around the world. Our work and commitment are shown in the result, the Club is back to win with a clearly defined vision. Within the extraordinary economic and social context created by the pandemic, the club’s financial stability and sustainability and keeping the team challenging at the highest level are the focal points of our strategy.”
CEOs Alessandro Antonello and Giuseppe Marotta then looked back over the achievements of last season and set out the actions undertaken in the current campaign.
“We strongly believe in the path for growth established by the club, with some key achievements already this season”, commented CEO Corporate, Alessandro Antonello. “In 2021 we revealed our new logo and new visual identity to the world. Our global appeal has been further confirmed by the arrival of three new sponsors for our shirt, which this season is worth more than ever before. The club quickly undertook actions to adapt its business and rebalance the financial effects caused by the Covid-19 pandemic, focusing on monitoring costs while continuing to invest appropriate resources to develop the club. The new stadium will be crucial to provide the club with the financial resources needed to compete on a level playing field with the biggest European clubs and to offer our fans a cutting-edge entertainment experience.”
“At the start of this cycle, our aim was to build a strong squad with a winning mentality capable of embodying a sense of belonging and the values that have always set this club apart,” added CEO Sport, Giuseppe Marotta. “Last season was the culmination of the excellent work we carried out. Winning a 19th Scudetto is reward for our owners' strategic vision, passion and commitment to supporting us at all times. This year we have set ourselves the dual target of reducing costs while remaining competitive on the pitch. We know how difficult it will be to win the title again but we are determined to defend the Scudetto shield on our shirts with pride.”