Udine, 21 November 2024 – Udinese Calcio has filed its financial statements for the 2023/2024 financial year.
Once again, the club’s accounts prove to be exemplary, reaffirming the sustainability of a governance style that has made Udinese a business model benchmark for over 30 years on the international stage.
Despite a slightly higher operating loss compared to the previous year (€11 million), the club has demonstrated robust financial and economic stability, largely due to diversified revenue streams, with a particular emphasis on the Bluenergy Stadium asset.
Net worth amounts to €112 million, which embodies the club’s financial stability and impressive management.
EBITDA, the most relevant economic measure, is positive at €50 million. It is worth highlighting that EBITDA net of player transfer profit still stands at €13 million.
As of 30 June 2024, the net value of the club’s multi-year registration rights was €40 million. However, the market value of the squad on that date was estimated at €139 million, more than three times the real value.
Production costs were €120 million, a small decrease of 5% since the previous financial year. This drop is primarily attributed to a drop in player trading revenue, down by €13 million. However, this shortfall was offset by other revenue streams, which grew by €6 million on the previous year, highlighting Udinese’s unique ability to invest in new revenue sources that strengthen the club’s financial position further.
In addition to commercial revenue, matchday revenue and hospitality also contributed significantly, with record earnings of €10 million. Additionally, the modern Bluenergy Stadium hosted over 150 non-football events and corporate conventions of national and local interest, generating substantial, new revenue streams.
Cost containment and rationalisation policies have been consistently implemented by senior management, with production costs registering a 3% increase compared to the previous year. The increase was mainly driven by amortisation, in particular generated by the revaluation of the stadium and brand in 2020, which totalled €8 million.
The income statement registered a loss of €11 million, compared to a loss of €4 million the previous year.
The club has also continued its commercial partnerships, including the naming rights agreement with Bluenergy and its main sponsor IO SONO FRIULI VENEZIA GIULIA. Long-standing collaborations with Macron (whose technical sponsorship deal has been extended) and Infront further demonstrate the club’s excellent commercial performance. Udinese’s brand continues to grow internationally, consistently securing significant commercial revenue for a medium-sized club.