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FC Internazionale Milano SPA shareholders’ meeting approves financial results for 2022/23



Club

Oct 26th 2023

4 MIN READING

Shareholders approve financial statement for year ending 30 June 2023, with a significant reduction of losses (down €55m to -€85m). Increase in total revenue excluding impact of player trading (+€60m). Turnover stands at €425m. Majority shareholder continues to support club’s growth and ambitions with €51m of new funds and €86m recapitalisation. UEFA Settlement Agreement complied with.


MILAN, 26 October 2023 – The F.C. Internazionale Milano S.p.A.Shareholders’ Meeting approved the financial statement for the 2022/23 financial year at the end of today’s meeting attended by President Steven Zhang, via video call from Nanjing, Corporate CEO Alessandro Antonello and Sport CEO Giuseppe Marotta.

“This past year is confirmation of our club’s incredible growth as a team and as a group, We have created continuity with another successful season in the space of five years, showing just how well we can compete on the field of play. This season we have also realised that our ambition does not stop here. Today, Inter is a modern, innovative, digital company, a brand that goes far beyond the football pitch. We are facing strong competition from old and new rivals alike, but it is also a time of excellent opportunities for growth – and making the most of these opportunities is our goal. To achieve this, our every effort must go into achieving financial stability. We are moving forward with our plans for a new club-owned stadium, which is of strategic importance and will be invaluable to the club. Inter is now once again one of the top clubs in Europe and we will fight to earn that second star – for our fans and to enter into the history books of this club forever.”

President Steven Zhang

The financial year ending 30 June 2023 saw a further significant reduction in losses when compared to the 2021/22 financial year, from €140 million to €85 million, marking a decrease of €55 million. Total revenues for the season amounted to €425 million, an increase of around €60 million excluding player trading.

In the first season since 2020 to be played with the stadium gates fully open, the team reached the UEFA Champions League final and recorded the club’s highest-ever matchday revenues of around €80 million. Income from audiovisual rights also increased significantly as a result of the team’s exceptional performances, which brought two new pieces of silverware to the club’s trophy cabinet: a ninth Coppa Italia and seventh Italian Super Cup.

Operating costs fell from €528 million to €465.5 million while actions taken in the transfer window in the summer of 2022 cut the club's wage bill.

During the 2023 calendar year, the majority shareholder provided new shareholder loans for a value of €51 million and recapitalised the club with €86m. These investments helped support the club’s sporting ambitions, improve infrastructure and develop Inter on an organisational level.

Based on the results in the financial statement approved at today’s meeting, the club takes the view that it has complied with the terms of the UEFA Settlement Agreement and excludes the possibility of sanctions in relation to last season.

“The 2022/23 season will live long in the memory of all of us thanks to our incredible European run which culminated in the Champions League final in Istanbul, the sixth final appearance in the club’s history and a milestone 13 years in the making. We claimed more silverware as well: the Italian Super Cup in Riyadh, further evidence of our dominance over Milan, and the ninth Coppa Italia in the club’s history. Inter began this season with the self-belief befitting of Champions League finalists, pride at having started consistently winning trophies and the aim of maintaining that winning tradition. We have provided the head coach with a comprehensive and highly competitive squad, all while meeting the financial needs of reducing labour costs that underscore the club’s vision for ethical, sustainable growth and respecting the parameters of UEFA’s new settlement agreement.”

CEO Sport Giuseppe Marotta

“The financial year which ended on 30 June 2023 was marked by a significant decrease in terms of losses, achieved thanks to consistent increase in revenue in our core business along with further decreases to our operating costs. Thanks to the efforts of every area of the business and with the majority shareholder supporting the club’s ambitions, we continue to pursue our aim of creating a winning formula between competitiveness on the pitch at the highest level, the essence of our core business, allied to economic and financial sustainability. These two aspects, what occurs on the pitch and what goes on off it, are inextricably linked and they both contribute to the healthy development of our sport. Our most important mid-to-long-term goal is the construction of a new stadium owned by Inter. Time is the crucial factor now and our current focus is on plans to build a new stadium in the Rozzano neighbourhood.”

CEO Corporate Alessandro Antonello


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