Inter cuts annual losses by 50 million euros

Inter’s board of directors will approve financial statements for the year ending June 30, 2023, reducing losses by more than 50 million euros compared to last year.

The Nerazzurri will close their balance sheets with losses of nearly €85 million, a significant reduction from the €140 million losses reported for the year ending June 30, 2022.

The club’s accounts improved dramatically as their turnover has shrunk slightly from €439m last year to €425m currently, but last year’s numbers include the sales of Romelu Lukaku and Achraf Hakimi.

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A key factor behind the improvements has been reaching the Champions League final, which has provided a key part of their income over the past year. Inter also generated €80 million from ticket sales.

Spending was cut to €72 million, down from €133 million three years ago, and the total wage bill is lower by around 12%.