Juventus

(63.77% of share capital)

The following figures refer to the accounting data for the period January 1 – June 30, 2013 drawn up by Juventus F.C. for purposes of the preparation of the half-year condensed consolidated financial statements of the EXOR Group at June 30, 2013.

Loss for the period (January 1 – June 30, 2013) is €28.6 million, recording an increase of €21.6 million from the loss of €7 million reported for the same period of the prior year. The negative change is principally due to higher costs for external services (-€1.3 million), higher players’ wages and technical staff costs (-€7.9 million) following a general increase in fees and bonuses paid to players for the important sports results achieved, higher amortization and depreciation of fixed assets (-€1.9 million) and the absence of a reversal of the impairment loss relating to the Juventus Library (-€14.5 million), compensated in part by higher revenues (+€6.1 million) recorded beginning from the 2012/2013 season due to the participation in the UEFA Champions League. 

Shareholders’ equity at June 30, 2013 is €47.3 million, registering a decrease compared with the balance of €75.7 million at December 31, 2012 due to the loss recorded for the period (-€28.6 million) and other changes (+€0.2 million).

Net financial position at June 30, 2013 is a negative €160.3 million, posting an increase of €10.7 million compared with a negative €149.6 million at December 31, 2012.

Other information

Continassa Area Project

On June 14, 2013, Juventus and the City of Turin signed the definitive agreement for the 99-year renewable lease on a portion of the Continassa Area. The area covers 180,000 square meters; the relative GFA (Gross Floor Area) is 33,000 square meters and destined to house the new Training and Media Center for the First Team and services for the public, as well as private residences.

On December 22, 2012, the City of Turin approved the Urban Planning Variation No. 277 and the redevelopment proposal for the Continassa Area adjacent to the Juventus Stadium. On December 28, 2012, Juventus and the City of Turin signed the preliminary agreement.

The price, as identified by the expert assigned by the City of Turin, has been set at €11.7 million, which places a value of about €355 per square meter of GFA (totaling 33,000 square meters) and €65 per square meter for the long-term lease (totaling 180,000 square meters).

In addition, 5,000 square meters of GFA, already owned by Juventus will be transferred to the Juventus Area to house the new registered office in Cascina Continassa, which will be renovated for this purpose.

The Juventus Area will be handed over by the City of Turin on August 31, 2013.

The remaining portion of the Continassa Area, totaling 80,000 square meters, will remain the property of the City of Turin, which plans to build a park and public services on the property.

In preparing this Half-year Financial Report, the impacts of the operations regarding the Transfer Campaign, whether carried out or in the process of being carried out up to the date of August 29, 2013, have been valued and taken into account, whenever significantly negative. In addition, it cannot be excluded that during the final stage of the players’ Transfer Campaign significant events may arise that require further writedowns and/or accruals by Juventus Football Club, in accordance with generally accepted accounting principles, for purposes of the preparation of the financial statements at June 30, 2013, which are expected to be approved on September 24, 2013.