HISTORIC THIRD CONSECUTIVE YEAR OF PROFIT AND NEW RECORD REVENUE: THE CLUB'S GROWTH FUELS THE SPORTING PROJECT

At today's Shareholders' Meeting, AC Milan presented the results of its consolidated financial statement for the fiscal year ending on 30 June 2025, as approved by the Board of Directors in October.

During a season in which the Rossoneri celebrated their 125th Anniversary, the Club registered, for the first time in modern history, a third consecutive year of profit, with a consolidated positive result of €3 million. Furthermore, for the third year running, the Club set a new record for total revenue, which reached €494.5 million, a 10% increase over the 2023/24 season.

This represents an acceleration in the Club's growth, in line with RedBird's long-term vision, reinforced by the experience and operational know-how gained in the development of global companies in the sports, media, and entertainment sectors. It is also a result of the rigorous and strategic approach taken by AC Milan's senior management, which continues to ensure financial stability while keeping the sporting project at the core of the operation.

At an operational level, the further growth witnessed in 2024/25 was driven principally by commercial revenue, including the balance sheet listings of "Sponsorship revenue" and "Commercial revenues and royalties". These amounted to a total of €152.3 million, up by 6% from last season. There was also a positive change in audiovisual and media revenues, which increased by €1.9 million. Furthermore, revenue from managing player rights also made a significant contribution, rising by 30.6%. In particular, recent financial results have shown a net increase in player registration rights of €14.3 million compared with the previous financial year. In comparison, gross player investments have exceeded €250 million over the last two seasons. In addition, the development of our Youth Sector has been bolstered by the Milan Futuro project, a significant Club investment in developing young talent and generating long-term value.

The year-on-year strengthening of the Club's financial position, which has a positive consolidated net equity of €199 million as of 30 June 2025, ensures the partial mitigation of the impact of a season without the income linked to participation in European competitions. Net financial debt amounted to €92.6 million, an increase of €43 million compared to the 2023/24 financial year.

Looking to the future, the new stadium project, a core principle of the Club's strategic development plan, has today reached a historic and decisive step forward with the finalized acquisition of the Great Urban Function San Siro. RedBird’s consolidated experience in the development of sporting facilities and world-class entertainment, as well as the international calibre of architecture studios Foster + Partners and MANICA, to whom the design of the new stadium has been entrusted, will bring to life a unique and cutting-edge project, which is set to become a new symbol both of the Club and the city of Milan, but will also benefit Italian football as a whole.

Finally, after becoming the first Italian club to adopt such a tool back in 2012/13, AC Milan also presented its 2024/25 Sustainability Report in line with its consolidated financial statement. This is a first among Italian clubs, which tend to report such activities voluntarily, and is part of a desire to anticipate any potential changes in the European regulations. Compiled according to the latest international standards, the Report examines the processes and their impacts on governance, society, and the environment, for both the Club and Fondazione Milan. Among the new additions in the latest edition of the Report are an innovative maternity policy for the Club's female players and staff, and new procedures for the selection and evaluation of suppliers, as part of wider efforts to strengthen social projects and initiatives that monitor and reduce the Club's environmental impact. As a large social and cultural institution that connects over 500 million supporters worldwide, AC Milan recognizes the responsibilities that come with its commitment to stakeholders, fans, and the wider community.