The Juventus board of directors has officially approved a new €200 million capital increase for the Bianconeri. This is the third capital increase in the last four years, following the €300 million increase in 2019 and the €400 million increase in 2021.
An official statement on the clubs website read:
DRAFT FINANCIAL STATEMENTS AND CONSOLIDATED FINANCIAL STATEMENTS AS AT 30 JUNE 2023 APPROVED. SIGNIFICANT REDUCTION IN THE LOSS FOR THE YEAR
UPDATED ESTIMATES FOR THE 2023/24 – 2026/27 LONG TERM PLAN APPROVED STRATEGIC OBJECTIVES OF SPORTS COMPETITIVENESS, ECONOMIC-FINANCIAL SUSTAINABILITY AND SIGNIFICANT AND STRUCTURAL REDUCTION OF NET FINANCIAL DEBT CONFIRMED
LOSS ESTIMATES AS AT 30 SEPTEMBER 2023 WITH CAPITAL REDUCTION. GUIDELINES DEFINED FOR A CAPITAL STRENGTHENING THROUGH A CAPITAL INCREASE UP TO A MAXIMUM OF €200 MILLION, WITH THE SUPPORT OF THE MAJORITY SHAREHOLDER EXOR
- Approved the consolidated financial statements for the year ended 30 June 2023, which show a loss of € 123.7 million (€ 239.3 million at 30 June 2022), partly influenced by the negative effects on revenues and costs related to the outcome of Italian and international sports proceedings
- The Board of Directors has updated the estimates of the 2023/24 – 2026/27 Plan, which confirms the Group’s strategic and development lines based on sports competitiveness, strengthening of the brand and consolidation of the economic-financial balance, with a significant and structural reduction in net financial debt
- On the basis of preliminary estimates as of 30 September 2023, the first quarter of the financial year is expected to close with losses exceeding one third of the share capital, thus fulfilling the requirements of Articles 2446 and 2447 of the Italian Civil Code.
- In order to support the achievement of the Plan’s objectives, as well as taking into account the impacts – in the current and previous financial year – deriving from the outcomes of the Italian and international sports proceedings started in 2022/23, the Board of Directors has defined the guidelines of a capital strengthening manoeuvre to be implemented by reducing the share capital to the legal minimum and a simultaneous share capital increase, against payment, for a maximum of € 200 million
- EXOR N.V. has expressed its support for the operation, undertaking to subscribe its own share of the capital increase, equal to 63.8%, and has also expressed its willingness to make payments on account of future capital increase for a maximum amount of about € 128 million. Juventus will consider setting up a guarantee consortium to underwrite and release any unsubscribed new shares
- The Ordinary Shareholders’ Meeting will be held on 23 November 2023, at the Allianz Stadium
Turin, 6 October 2023 – The Board of Directors of Juventus Football Club S.p.A. (the “Company” or “Juventus”), met today under the chairmanship of Gianluca Ferrero and, inter alia, (i) approved the draft financial statements and the consolidated financial statements for the year ended 30 June 2023; the financial statements will be submitted to the approval of the Shareholders’ Meeting to be held on 23 November 2023, on single call, at the Allianz Stadium (ii) approved the update of the estimates of the Long-Term Plan for the financial years 2023/24 – 2026/27 (“Plan”) and (iii) defined the guidelines of a capital increase, against payment, up to a maximum of € 200 million (“Capital Increase”).
