Wednesday, July 19, 2023

Real Madrid ended the fiscal year with a profit of 12 million euros


Genuine Madrid reported a benefit of 11.8 million euros ($13.25 million) for the 2022-23 monetary year, somewhat lower than the past season's benefit in spite of expanded income.

Considering the challenges posed by the COVID-19 pandemic and the substantial 893 million euro renovation project underway at their Bernabeu stadium, which is anticipated to be completed by the end of 2023, the club's ability to maintain profitability over the past four years is notable.

Genuine Madrid's monetary versatility shows their strong administration and capacity to explore testing conditions while supporting a productive position.

"Working pay for the monetary year 2022-23 has arrived at 843 million euros, an increment of 121 million euros (17%) contrasted with the 2021-22 monetary year," the club said in an explanation.

They added, notwithstanding, that arena incomes, restricted by the redevelopment project, were as yet 13% lower than in 2018-19 season yet incomes from the excess business lines have proactively surpassed pre-pandemic levels, with advertising incomes (up 12%) hanging out specifically.

Madrid said their total assets is 558 million euros, 12 million a larger number of than last season, and their net obligation, barring the Bernabeu project, remained at 46.7 million euros as of June 30 2023.

That is a significant improvement from their net debt of 263.1 million last year.

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