debts of 574 million! 110 more than in June

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A league – Juventus, the club announces the balance of the first quarter of the 2019/2020 football season, approved last September 30th by the president Andrea Agnelli and by the Board of Directors. This is the Juventus company statement:

At 30 September 2019, total revenues amounted to € 170.4 million, showing an increase of € 27.3 million compared to the figure of € 143.1 million in the same period of the previous year. This increase is mainly due to higher income from the management of players' registration rights for € 21.7 million and higher operating revenues for € 5.6 million.

The first quarter of 2019/2020 closed with a loss of € 19.2 million, which shows a positive change of € 5.5 million compared to the loss of € 24.7 million in the same period of the previous year. This change is mainly due to higher revenues of € 27.3 million, partially offset by higher costs for licensed personnel for € 9.3 million, higher charges from the management of players' registration rights for € 8 million, higher depreciation and write-downs for € 4.6 million, higher net financial expenses and share of the result of associates and joint ventures for € 1.1 million and other net positive changes for € 1.2 million.

Shareholders' equity at September 30, 2019 amounted to € 12.1 million, a decrease compared to the balance of € 31.2 million at June 30, 2019, due to the loss for the period (€ -19.2 million) and other minor changes (€ +0.1 million). At 30 September 2019, net financial debt amounted to € 573.9 million and showed an increase of € 110.4 million compared to the balance of € 463.5 million at 30 June 2019, mainly due to disbursements linked to Transfer Campaigns (€ -113.1 million net), from investments in other fixed assets (€ -1.9 million net) and from financial asset flows (€ -18.8 million, net), partially offset by the positive cash flows from operations (€ + 23.4 million).

At 30 September 2019, the Company had bank credit lines for € 584.4 million (of which € 180.6 million were revocable), used for a total of € 423.3 million, of which € 62 million for sureties issued in favor of third parties , € 123.8 million for loans, € 13.3 million for overdrafts and € 224.3 million for advances on contracts and trade receivables.



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