(63.77% of share capital)



The results for the first half of the financial year 2017/2018 of Juventus Football Club S.p.A. are as follows:

  I Half  
€ million 2018/2019 2017/2018 Change
Revenues 330 291 39
Operating costs (227) (179) (48)
Operating income 17 51 (34)
Profit for the period 7 43 (36)
€ million 12/31/2018 12/31/2017 Change
Shareholders' equity 80 137 (57)
Net financial debt 384 280 104
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 runs the period 1 July – 30 June, which corresponds to the football season. The accounting data under examination thus represents the first half of operations for the financial year 2018/2019. Interim data prepared only for EXOR consolidated reporting purpose and cannot be construed as representing the basis for a Juventus full-year projection. Profit performance is characterized by the highly seasonal nature typical of the sector, determined mainly by 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 period different from the period to which they refer.

The first half of the 2018/2019 financial year closed with a profit of €7 million, posting a negative change of €36 million compared to the profit of €43 million registered in the same period of the prior year.

The negative change was mainly due to lower revenues from players’ registration rights, down €18 million, increased costs for players and staff for €38 million, higher amortization and depreciation on players’ rights for €25 million, increased costs for the acquisition of materials intended for sale for €6 million, increased other expenses for €3 million, increased costs for external services for €3 million and increased in other costs for €3 million. These changes were partially offset by increased operating revenues, €57 million, and lower expenses from players' registration rights, down €4 million. Other negative changes of €1 million concerned principally increased provisions.

2019 Outlook

The 2018/2019 financial year of Juventus, currently forecast to end in a loss, will be as usual strongly influenced by the performance of sports results and in particular the UEFA Champions League.




Commercial Register No.64236277 Note legali | Credits