Inter have announced losses of €74 million for the 2015 financial year at an annual shareholders meeting which took place on Monday.
That adjusted net figure was originally given as €45.3m but with non-recurring costs accounted for, such as provisions for technical staff, various player contracts and the financial fair play settlement, the final figure stands at €74m.
“The financial results for 2015 show that we are taking the club and the business in the right direction,” stated President Erick Thohir. “Revenues grew and our EBITDA [Earnings Before Interest, Taxes, Depreciation and Amortisation] was positive, a key milestone for the club.
“We continue with our strategy of building a successful team on the pitch and a strong business off it, while being aware of the need for financial fair play compliance.”
Inter have had the highest average home attendance so far this season with 54,437 and set a new record for gate receipts of €3,671,078 for their match against AC Milan before immediately breaking that last weekend against Juventus by bringing in €3,740,051.
But those gate receipts are not enough to cover over Inter’s dismal financial numbers, something that even the new ownership has been able to fix.
Inter’s Recent Financial Results
2012: €89.8m loss
2013: €82.7m loss
2014: €33m Profit*
2015: €74m loss
Inter’s “profit” in 2014 was due to a one-time €139 million extraordinary gain relating to the valuation of the Inter brand. Without this gain, Inter would have lost €106m.