Report: Inter Milan set to post €415m in annual revenue

Report: Inter Milan set to post €415m in annual revenue
Italian soccer giants Inter Milan are set to report revenues exceeding €400 million (US$437.4 million) for the first time for the year up to July 2019, according to Italian news wire Ansa.

The report says that the Inter board of directors have discussed the proposal to approve the financial statements which closed on 30th June, 2019, for submission at the shareholders' meeting scheduled for the end of October.

The Serie A club have brought in €415 million (US$453.8 million), including capital gains, for the 2018/19 season, which represents year-on-year growth of 20 per cent compared to revenues of €346 million (US$378.3 million) for the previous year. However, the latest filing also reportedly details a loss, but one that falls in line with the requirements of UEFA’s financial fair play (FFP) regulations.

Although the details of the final financial filing have not been revealed, sponsorship revenue in the nine-month report by Inter Media House, the company through which the club recently issued a €300 million (US$328 million) bond, showed strong growth.

For the balance sheet filed on June 30th, Inter Media and Communications posted €284.8 million (US$311.4 million) in revenue, with growth in the region of 20 per cent on the 2017/18 season of which sponsorship made up €127 million (US$138.8 million).

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