Real Madrid close financial year with 12 mln euros profit

Real madrid close financial year with 12 mln euros profit0

Real Madrid made a profit of 11.8 million euros ($13.25 million) at the end of the 2022-23 financial year, the Spanish club said on Monday.

This is about one million euros less than the previous season, even though the club made more money.

Even with the bad effects of the COVID-19 pandemic and the 893 million euro project to fix up their Bernabeu stadium, which will be done by the end of 2023, the Spanish club has made money for the last four years.

“Operating income for the financial year 2022-23 has reached 843 million euros,” the club said in a statement. This is an increase of 121 million euros (17%) from the financial year 2021-22.

They also said that stadium income was still 13% lower than in the 2018-19 season because of the rebuilding project. However, revenue from the other business lines had already surpassed pre-pandemic levels, with marketing revenue (up 12%) sticking out.

Madrid said that their net worth is 558 million euros, which is 12 million more than last season. As of June 30, 2023, their net debt, excluding the Bernabeu project, was 46.7 million euros.

Last year, their net debt was 263.1 million, so this is a big increase.

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