Inter post €140m loss in 2021-22 accounts

Inter post €140m loss in 2021-22 accounts

The loss, which Inter say in a statement was due to virus restrictions still being in place for the first half of last campaign, was around €105 million less than the previous season’s record losses. — AFP pic

Wednesday, 28 Sep 2022 9:53 PM MYT

MILAN, Sept 28 — Inter Milan announced today that they had posted a loss of €140 million (RM624 million) for the 2021-22 season, a significant reduction in the wake of the Covid-19 pandemic.

The loss, which Inter say in a statement was due to virus restrictions still being in place for the first half of last campaign, was around €105 million less than the previous season’s record losses.

Revenue was also up €75 million on the previous season to €439.6 million.

Inter said if the end of the 2019-20 season (which ran into the following financial year after the pandemic ravaged Europe) is not taken into account the revenue increase stands at €140 million.

Owner Suning “has already formally expressed his commitment to backing the group” by covering the losses, Inter said.

“The club’s two primary objectives remain steadfast: maintaining the team’s competitiveness at the highest level in every competition and strengthening its financial position,” said Inter.

On Friday Inter’s Serie A rivals Juventus posted record losses of €254.3 million, the fifth straight year their accounts have been in the red. — AFP