More and more positive news continues to filter regarding AC Milan’s economic situation, with the latest being the results of the first half of the 2022/23 financial year.
Calcio e Finanza report that Milan closed the first six months of the 2022-23 season with a profit of €9.8m at statutory level, compared to a loss of €12.2m as at 31 December 2021.
There are not the consolidated financial statements, which also include costs and revenues of the subsidiaries Milan Entertainment and Casa Milan (which will then merge into the company AC Milan Spa after the merger approved in recent weeks).
In the six months up to 31 December 2022, the statutory turnover of the Rossoneri amounted to €144m, up from €129m on 31 December 2021, while costs amounted to €148m (€151m in 2021).
In the first six months of 2022-23 Milan recorded €144m in revenues with TV rights being the highest earner at €84.5m, while income from sponsorships amounted to approximately €17m and revenues from competitions amounted to €29.8m.
As mentioned, the budgeted had a slight decreare. Most of the costs are linked to personnel expenses, with €66.7m in wages and salaries (compared to €64.4m as of December 2021).
Among other costs, depreciation and write-downs amounted to €29.4m, of which €28.8m linked to the depreciation of players, slightly down on the €34m in the first six months of 2021-22.
The difference between turnover and costs was €-4.7m compared to €-21.4m from a year ago. The pre-tax result was positive by €7.1m, while the net result was positive by €9.8m compared to €-12.2m from a year ago.
It should be remembered that the path in the Champions League in the second half of the current season should allow Milan to close the consolidated financial statements on 30 June with a profit.
