(Alliance News) - SS Lazio Spa announced Thursday that its board of directors has approved the draft financial statements for the year ended June 30, reporting a loss of EUR29.5 million, up from a loss of EUR17.4 million in the previous year.

Value of production amounted to EUR148.3 million up from EUR135.3 million recorded in the year ended June 30, 2022. This change was mainly due to higher revenues from the second-place finish in the league, from TV rights and non-audiovisual rights, and from stadiums.

The total amount consisted of competition revenues of EUR17.92 million, TV rights and other concessions of EUR102.0 million, sponsorship, advertising and royalties of EUR20.7 million, merchandising revenues of EUR2.3 million and other revenues and income of EUR5.4 million.

Operating costs net of depreciation, amortization, write-downs and provisions are EUR143.7 million and have increased from the previous season, when they were EUR130.2 million.

Of these, personnel costs - up to EUR109.6 million from EUR98.8 million in 2022 - increased due to higher individual and collective bonuses accrued for better sports results achieved.

Ebitda is EUR4.6 million, down from EUR5.0 million in the previous year.

Shareholders' equity is negative EUR38.0 million, from negative EUR8.5 million in the previous year.

As for the future, the company specifies that "participation in the Champions League 23/24, the income realized from the sale of players' registration rights in the first session of the current season, the financial surplus of the summer transfer campaign of sports performance rights, the continuation of the path of restructuring of the first team's squad, in order to comply with the provisions for the coming seasons by UEFA, and the use of liquidating forms of self-financing leave reasonably assume the achievement, in the short to medium term, of economic-financial balance."

"Further action that can be pursued," the statement released by the company further reads, "focuses on the enhancement of corporate assets and latent surplus value on the basis of the difference between the current market prices of the first team's squad, ascertainable from independent sources, and the book values of the relevant sports performance rights.

SS Lazio closed Thursday in the green by 0.6 percent to EUR0.99 per share.

By Chiara Bruschi, Alliance News reporter

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