27 February 2018
The Board of Directors of AC Milan S.p.A. approved the preliminary half-year consolidated financial statements as of 31 December 2017 concerning the performance of the first half of 2017-2018 financial year
The Board of Directors of AC Milan S.p.A., held today and chaired by Roberto Cappelli, approved the preliminary half-year consolidated financial statements as of 31 December 2017 concerning the performance of the first half of 2017-2018 financial year.
EBITDA after revenues from players' management is positive for Euro 31.5 million, compared to a loss of Euro 12.7 million in the same period of the previous year.
Improving financial results
The financial result as of December 31, is negative for 22.3 million euro (vs 39.4 million euro as of December 31, 2016) and shows a sharp improvement compared to the first half of the previous year and compared to the budget targets and is due, substantially to the following factors:
Net financial debt as of December 31, 2017 amounted to Euro 165 million, against Euro 141.2 million as of June 30, 2017. An increase due to the summer transfer campaign.
The BoD shared the status of the activities of the debt refinancing project. On January 26, 2018, AC Milan S.p.A. has given Bank of America Merrill Lynch (BAML) a mandate for the exclusive organization of the transaction.
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