(63.77% of share capital)





The results for the first half of the financial year 2016/2017 of Juventus Football Club S.p.A. are as follows:

  Firts Half  
€ million 2016/20172015/2016 Change
Revenues 314.9204.5 110.4
Operating costs 182.2140.4 41.8
Operating income (loss)
84.838.1 46.7
Profit (loss) for the period 72.030.3 41.7
€ million 12/31/2016 12/31/2015 Change
Shareholders' equity 125.4 53.4 72.0
Net financial debt 174.1 199.4 (25.3)

The interim data cannot be construed as representing the basis for a full-year projection.
For a correct interpretation of the data it should be noted that the financial year of Juventus does not coincide with the calendar year but covers the period July 1 – June 30, which corresponds to the football season.
Economic performance is characterized by the highly seasonal nature typical of the sector, determined mainly by European competitions, particularly the UEFA Champions League, the calendar of football events and the two phases of the players’ Transfer Campaign.
The financial position and cash flows of the company are also affected by the seasonal nature of the income components; in addition, some revenue items are collected in a different period than the period to which they refer.

The first half of the 2016/2017 financial year closes with a profit €72 million, an increase of €41.7 million compared to the €30.3 million profit for the corresponding period of the preceding year. The change is attributable mainly to increased income from players' registration rights (€84.6 million) and to the general increase in recurring revenues
(€25.8 million), partially offset by the increase in expenses for players’ registration rights (€31.9 million), by lower net non-recurring revenues (€10.3 million) and by higher amortization of players registration rights (€ 8 million) and other net negative changes of €18.5 million.

Significant events in the first half of the year 2016/2017

J Village Real Estate Fund

During the half-year the J Village Real Estate Fund continued work on the redevelopment and upgrading of a major part of the Continassa area situated next to the Juventus Stadium. The time schedule, in line with the original forecast, provides for the Company’s new registered offices and the new Training and Media Center to be handed over to Juventus by June 30,2017.

J Medical

At a meeting held on October 19, 2016 the shareholders of J Medical S.r.l. approved the statement of financial position at September 30, 2016 which reported a loss attributable to the start-up phase of the activities (the center was inaugurated on March 23, 2016) and voted to cover the aforesaid loss, in part by utilization of the share premium reserve and the zeroing of share capital and, for the residual part, by offering a share issue totaling €2 million to the two shareholders in equal amounts to be subscribed by October 31.

Following the subscription for the full amount of the capital increase, Juventus today holds 100% of the capital of J Medical. Negotiations are in progress for the sale of 50% of the capital.

Purchase of the Vinovo Sports Center

In July 2016 Juventus exercised the buy-back option at the end of the lease of the Juventus Training Center at Vinovo, acquiring ownership of the property from Unicredit Leasing S.p.A. for a payment of €7.7 million.

2017 Outlook

The Company’s goal is to consolidate the substantial equilibrium in operating profit achieved in the last two years.
In the year 2016/2017 a significant increase is expected in the costs of players wages and technical staff costs and for the amortization of the cost of the acquisitions made in the 2016/2017 Transfer Campaign. At the same time the income generated by the disposals during the Campaign, the sporting results and the growth in other operating revenues make it possible to forecast a positive economic result for the year 2016/2017.

Commercial Register No.64236277 Legal notes | Credits