Real Madrid, one of the most successful and popular football clubs in the world, has announced its financial results for the 2022-23 financial year on its official website. The club reported a revenue of 843 million euros, before the disposal of fixed assets, which represents an increase of more than 100 million euros compared to the previous financial year. The club also achieved a profit of €12 million, after taxes and minority interests, despite the challenges posed by the Covid-19 pandemic.
The Spanish club also confirmed that its net debt was €47 million as of June 30 and the club’s net assets amounted to €546 million. The assets have remained stable as compared to the previous year. However, the profit has dropped by 1 million Euros which could be because of the club’s investment in the renovation project of their Bernabeu stadium, which is set to be concluded by the end of 2023.
Before the sale of fixed assets, the club's income for the fiscal year 2021-22 was €721.5 million. This is a huge fall from the 2019-20 fiscal year, which was the previous one before the Covid-19 epidemic. The absence of people at the stadium, the reduction in broadcasting money, and the cancellation or delay of several contests were the primary factors affecting revenue.
“Operating income for the financial year 2022-23 has reached €843 million, an increase of €121 million (17 percent) compared to the 2021-22 financial year," the club said in a statement.
The club added, "The club maintains a solid equity situation with a net equity of €558 million and Treasury of €128 million as of June 30, 2023," added Real Madrid, which is among the richest clubs in the globe.”
The club's financial results reflect its strong performance and resilience in facing the difficulties caused by the Covid-19 pandemic. The club also achieved remarkable results on the pitch, as it reached the semi-finals of the UEFA Champions League in 2022/23.