F.C. Internazionale Milano S.P.A. shareholders' meeting approves 2023/24 financial results

MILANO, 28 October 2024 – The F.C. Internazionale Milano S.p.A. Shareholders’ Meeting has approved the financial results for the 2023/24 season, following today’s meeting held remotely with President Giuseppe Marotta and Corporate CEO Alessandro Antonello in attendance. A new F.C. Internazionale Milano S.p.A. Board of Auditors was appointed for the three-year period 2024-2027, after the previous Board of Auditors reached the end of its term.

FURTHER REVENUE INCREASE AND SIGNIFICANT REDUCTION OF LOSSES

The financial year ending 30 June 2024 saw a further significant decrease in losses compared to the 2022/23 financial year, with the figure falling by around €50 million from €85 million to €36 million. Total turnover for the season was €473 million, a club record, with a revenue increase of €48 million. This was achieved thanks to good results on the field leading to an increase in commercial turnover.

Production costs remain stable at €464.5 million, resulting in a net improvement to production value of €9 million, compared to losses of €40 million in the previous financial year.

RECAPITALISATION BY THE MAJORITY SHAREHOLDER

Since 22 May 2024, funds managed by Oaktree Capital Management, L.P. (“Oaktree”) have assumed ownership of F.C. Internazionale Milano S.p.A. as the new majority shareholder. In the first quarter of the 2024/25 financial year, Oaktree completed a recapitalisation operation totalling €47 million. The club’s equity reserves have been increased by €44 million through direct cash injections, with a further €3 million from the conversion of the final portion of shareholder loans. The majority shareholder’s investment is a demonstration of its commitment to the club’s financial and operational stability to support the highest level of performance on and off the pitch.