Financial Statements

Inter, second consecutive profit: 22.7 million and net assets back in positive territory

The Nerazzurri board of directors has approved the draft financial statements as at 30 June 2026, showing a turnover of 518 million euros – the second-best result in the club’s history

3' min read

Translated by AI
Versione italiana

3' min read

Translated by AI
Versione italiana

Inter has consolidated the financial recovery programme launched in recent years and has closed the 2025/26 season with a profit for the second consecutive financial year. The Board of Directors has approved the draft financial statements, which show a net profit of €22.7 million, following a profit of approximately €35 million in the previous financial year, marking a structural turnaround from the heavy losses that had characterised much of the last decade. With profits totalling 57 million over a two-year period.

Perhaps the most significant figure is the return of shareholders’ equity to positive territory. At the end of the financial year, the Inter Group reported equity of €10.4 million, compared with a negative figure of €12 million recorded twelve months earlier. This indicator demonstrates the strengthening of the club’s financial structure and the gradual reduction of the vulnerabilities accumulated during the years of the pandemic and the subsequent financial crisis.

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In terms of revenue, turnover stood at 518 million euros. This is the second-best result in Inter’s history, surpassed only by the €567 million recorded in 2024–25 – a season characterised, however, by exceptional factors such as participation in the FIFA Club World Cup and the run to the Champions League final.

An analysis of the financial statements shows that this improvement is not due to one-off events but rather to greater stability in the business model. Profit was, in fact, underpinned by the consolidation of recurring revenue and a reduction in production costs of around 20 million euros, equivalent to 4 per cent.

A significant contribution comes from the commercial division, which continues to be one of the cornerstones of the club’s growth strategy. Revenue in this area rose by 7 per cent, driven primarily by merchandising thanks to the new operating agreement with Fanatics, a global leader in sports licensing. Revenue from match-day activities, measured in terms of average revenue per event, has also risen.

The figures for sporting operations were also positive. Capital gains and income from player transfers rose by 11 million euros, whilst the item relating to amortisation and write-downs of players’ registration rights fell by 8 million. These figures confirm greater efficiency in the management of the squad and the capital invested in player registrations.

A further departure from the past concerns the financial structure. During the financial year, financial expenses fell by around 50 per cent, resulting in a saving of 19 million euros. This result is linked to the refinancing completed in the previous year, which enabled Inter to replace more expensive debt with sources of funding characterised by a lower cost of capital.

However, the improvement in profitability has not slowed down investment. The club has, in fact, launched an infrastructure development plan involving both the Inter Training Centre in Appiano Gentile and the Konami Women & Talent Centre in Interello. This move is in line with the direction taken by leading European clubs, which are increasingly focused on building value through owned assets and facilities dedicated to technical and commercial development.

The picture that emerges is that of a club which has completed a crucial phase in its journey towards financial stability. Whilst still some way off the revenue levels of the Premier League’s big clubs, Inter is now demonstrating a growing ability to translate sporting competitiveness into financial sustainability. This is now an essential prerequisite for remaining firmly at the pinnacle of European football.

The challenge in the coming years will be to consolidate these results in a context where international competition continues to intensify. However, the return to profit, the fact that net equity has returned to positive territory, and the sharp reduction in the burden of interest on debt indicate that Inter have finally embarked on a different path from the one which, for years, had seen their finances take a back seat to sporting ambitions.

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