Juventus post 199 million euro loss for 2023/24 financial year
The Italian Serie A soccer club said revenue fell 22% to 395 million euros in the 2023/24 financial year, due to the ban from European competitions following accounting issues.
The full-year loss widened from 124 million euros the year before.
Milan-listed Juventus, which has been controlled by the Agnelli family for a century, had to raise around 900 million euros from its shareholders over the past five years in three separate cash call operations to beef up its balance sheet.
"The operating result and cash flow are expected to be in the break-even range in the 2024/25 financial year," the company said, citing the return in the Champions League and cost-cutting behind the improvement.
Under a business plan approved last year, Juventus expect to return to a net profit in the 2026/27 financial year. The club last posted a net profit in 2016/17.
