Florence, 21th November 2023   

Financial Statement 2022/23: ACF Fiorentina Reports Record Operating Revenues

ACF Fiorentina is pleased to report that operating revenues (excluding player trading) rose to an all-time record high of €147.9 million, or 33% higher than €111.1 million recorded the prior year. These revenue increases were driven by higher Serie A TV rights, sponsorships, advertising, and gate receipts, as well as revenues received by the Club for reaching the finals of both the UEFA Conference League and the Coppa Italia. Total revenues (including player trading) decreased to €159.6 million from €233.2 million the prior year, mainly due to lower capital gains from player sales of €7.7 million, compared to €114.1 million last year. A net loss of €19.5 million was incurred in this financial year, compared to a net profit of €46.8 million the prior year, which benefitted from aforementioned gains in player trading.

Total costs, before depreciation and amortization, rose to €118.7 million from €105.9 million the prior year, mainly because of an increase in staffing expenses, which grew to €86.7 million from €80.9 million, mostly due to the higher salaries in the men’s first team, and greater service costs, which rose to €27.5 million from €21.9 million. 

Excluding the gains from player trading, earnings before interest, tax, depreciation, and amortization (EBITDA) increased to €29.1 million from €5.2 million the prior year. Depreciation and amortization rose to €55.8 million from €46.9 million, largely due to player registration rights and intangibles.

At June 30, 2023, the balance sheet of Fiorentina reflected total assets of €414.4 million, with no financial debts with credit institutions or other similar parties, and total equity of €293.1 million, demonstrating the Club’s strong capitalization. 

During the four-year period since the acquisition of ACF Fiorentina in June 2019, the sole shareholder of the Club has directly invested, or provided through Mediacom, a total of approximately €418 million. As of June 30, 2023, the uses of this aggregate investment consist of: (i) €170 million for the purchase of ACF Fiorentina and associated closing costs; (ii) €104 million for Viola Park; (iii) €100 million from Mediacom for the Club’s sponsorship, recognized as operating revenues in the financial statements; (iv) €24 million of cash on Fiorentina’s balance sheet; and (v) approximately €20 million to cover the operating losses during the four-year period.

For the 2023/24 season, Mediacom, the Main Sponsor of the Club, underscored its commitment to the commercial partnership by extending its annual sponsorship deal worth €25 million. In addition, the Club expects to make more expenditures during the 2023/24 season to complete the construction of Viola Park, resulting in a total estimated investment of €117 million.

E-mail: ufficiostampa@acffiorentina.it

Phone: +39055503011