Real Madrid announced a profit of 11.8 million euros ($13.25 million) for the 2022-23 financial year, slightly lower than the previous season's profit despite increased revenue.
The club's ability to maintain profitability over the last four years is notable considering the challenges posed by the COVID-19 pandemic and the substantial 893 million euros renovation project underway at their Bernabeu stadium, which is expected to be completed by the end of 2023.
Real Madrid's financial resilience demonstrates their solid management and ability to navigate challenging circumstances while sustaining a profitable position.
"Operating income for the financial year 2022-23 has reached 843 million euros, an increase of 121 million euros (17%) compared to the 2021-22 financial year," the club said in a statement.
They added, however, that stadium revenues, limited by the redevelopment project, were still 13% lower than in 2018-19 season but revenues from the remaining business lines have already exceeded pre-pandemic levels, with marketing revenues (up 12%) standing out in particular.
Madrid said their net worth is 558 million euros, 12 million more than last season, and their net debt, excluding the Bernabeu project, stood at 46.7 million euros as of June 30 2023.
That is a major improvement from last year, when their net debt was 263.1 million.
(With Reuters inputs)
