THE BOARD OF DIRECTORS APPROVES THE DRAFT FINANCIAL STATEMENTS AND CONSOLIDATED FINANCIAL STATEMENTS AS OF 06/30/2023. UPDATE OF PLAN ESTIMATES AND CONSEQUENT MEASURES
THE DRAFT FINANCIAL STATEMENTS AND THE CONSOLIDATED FINANCIAL STATEMENTS AS OF 30 JUNE 2023 APPROVED. SIGNIFICANT REDUCTION IN THE FINANCIAL YEAR LOSS
THE UPDATE OF THE ESTIMATES OF THE LONG-TERM PLAN 2023/24 – 2026/27 APPROVED. THE STRATEGIC OBJECTIVES OF SPORTING COMPETITIVENESS, ECONOMIC-FINANCIAL SUSTAINABILITY AND SIGNIFICANT AND STRUCTURAL REDUCTION OF NET FINANCIAL DEBT HAVE BEEN CONFIRMED
LOSS ESTIMATES AS OF SEPTEMBER 30, 2023 WITH CAPITAL REDUCTION. GUIDELINES DEFINED FOR A STRENGTHENING OF CAPITAL THROUGH A CAPITAL INCREASE UP TO A MAXIMUM OF EURO 200 MILLION, WITH THE SUPPORT OF THE MAJORITY SHAREHOLDER EXOR
- The consolidated financial statements for the year ended 30 June 2023 have been approved, which highlight a loss of €123.7 million (€239.3 million as of 30 June 2022), partly influenced by the negative effects on revenues and costs related to the outcomes of Italian and international sporting 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 sporting competitiveness, strengthening the brand and consolidating the economic-financial balance, with significant and structural reduction in net financial debt
- Based on 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, integrating the assumptions set out in the articles. 2446 and 2447 cod. civil
- To support the achievement of the objectives of the Plan, as well as taking into account the impacts - in the current and previous financial years - deriving from the outcomes of the Italian and international sporting proceedings initiated in 2022/23, the Board of Directors has defined the guidelines a capital strengthening maneuver to be implemented by reducing the share capital to the legal minimum and simultaneously increasing the share capital, for a fee, for a maximum of €200 million
- EXOR NV expressed its support for the operation, committing to subscribe to its share of the capital increase, equal to 63.8%, and also expressed its willingness to make payments towards a future capital increase for a maximum of € 128 million approximately. Juventus will consider setting up a guarantee consortium for the subscription and release of any new shares that may not be subscribed
- The Ordinary Shareholders' Meeting will be held on November 23, 2023, at the Allianz Stadium
Turin, 6 October 2023 – The Board of Directors of Juventus Football Club SpA (the “Company” or “Juventus”), meeting today under the Chairmanship of Gianluca Ferrero, has, inter alia, (i) approved the draft financial statements of the financial year and the consolidated financial statements for the financial year ended 30 June 2023; the financial statements will be submitted for approval to the Shareholders' Meeting which is expected to be held on 23 November 2023, in 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 for a capital strengthening through a paid capital increase, up to to a maximum of €200 million (“Capital Increase”).
