Juventus Football Club S p A : Consolidated half-yearly financial report at 31 December 2020

CONSOLIDATED HALF- YEARLY FINANCIAL REPORT AT

31 DECEMBER 2020

Authorised by the Board of Administrators on 25 February 2021

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This doc is accessible on the web site www.juventus.com

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BOARD OF DIRECTORS, BOARD OF STATUTORY AUDITORS AND INDEPENDENT AUDITORS

Remuneration and Appointments Committee

Paolo Garimberti (Chairman), Assia Grazioli Venier and Caitlin Mary Hughes

Management and Danger Committee (additionally accountable for issues regarding “associated events” because the “Committee for Transactions with Associated Events”)

Daniela Marilungo (Chairman), Paolo Garimberti and Caitlin Mary Hughes

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Expiry of the phrases of workplace

The phrases of workplace of the members of the Board of Administrators and the Board of Statutory Auditors will expire on the date of the Shareholders’ Assembly referred to as to approve the monetary statements at 30 June 2021.

The appointment of the Unbiased Auditors will expire on the date of the Shareholders’ Assembly referred to as to approve the monetary statements at 30 June 2021.

SIGNIFICANT EVENTS IN THE FIRST HALF OF THE 2020/2021 FINANCIAL YEAR

Results of the Covid-19 pandemic

The nationwide and worldwide situation of the primary half of the 2020/2021 monetary 12 months continues to be characterised by the impacts from the Covid-19 pandemic and the ensuing restrictive measures for containment imposed by administrative, well being and sports activities Authorities.

Except for the match on 20 September 2020 (Juventus vs Sampdoria), performed at residence with an viewers restricted to a most of 1 thousand invited spectators, these restrictive measures haven’t allowed, and at present don’t enable, matches to be held with the general public in attendance (successfully cancelling ticket gross sales). Furthermore, the pandemic containment measures carried out with the Italian Prime Ministerial Decree of three November 2020 (as subsequently confirmed and amended) entailed, in several phases, the closure to the general public of the J Museum and shops, consequently having a detrimental impression on customer and merchandising revenues.

It also needs to be famous that the Covid-19 well being emergency resulted within the postponement, to July and August 2020, of nationwide and worldwide competitions for the 2019/2020 season, thereby inflicting the respective revenues from tv rights to be recognised within the present 12 months.

Through the first half of the 2020/2021 monetary 12 months, the protraction of the Covid-19 pandemic generated a big detrimental impression on revenues (primarily from ticket gross sales and product gross sales), which might be quantified as € 50 million; conversely, the impression on prices was not vital, since some financial savings associated to the shortage of matches had been partly offset by prices associated to the pandemic (primarily well being safeguards and protecting units).

The Soccer Season

On 26 July 2020, Juventus received the 2019/2020 Serie A championship for the ninth 12 months in a row (thirty eighth league title within the soccer workforce’s historical past), with two video games to spare, and gained direct entry to the Group Stage of the UEFA Champions League 2020/2021.

On 8 August 2020, the Firm modified the First Crew’s technical administration, with Maurizio Sarri relieved of his put up alongside along with his employees. The brand new First Crew supervisor is Andrea Pirlo, with whom Juventus signed a contract till 30 June 2022. Related agreements had been signed with members of the technical employees.

In December 2020, the First Crew certified for the spherical of sixteen of the UEFA Champions League 2020/2021, rating first in its group.

Nationwide licence

On 20 August 2020, the FIGC’s appointed our bodies, after reviewing documentation submitted by Juventus and materials despatched by the Lega Nazionale Professionisti Serie A, issued the membership with the Nationwide License for the present soccer season.

2020/2021 Switch Marketing campaign – first part

Acquisitions and disposals of gamers’ registration rights

The transactions finalised within the first part of the 2020/2021 Switch Marketing campaign, held from 1 September to five October 2020, led to a complete improve in invested capital of € 43.6 million, ensuing from acquisitions and will increase of € 43.8 million and disposals of € 0.2 million (internet e book worth of disposed rights). Internet bills deriving from momentary transfers got here to € 9.4 million.

The web capital beneficial properties generated by the disposals got here to € 0.8 million.

The overall internet monetary dedication of € 50.6 million is unfold over three years, and contains auxiliary bills and implicit monetary revenue and bills on deferred receipts and funds.

For additional particulars, please seek advice from the Notes accompanying the half-yearly monetary report at 31 December 2020.

Consolidated Half-Yearly Monetary Report at 31 December 2020

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Termination of gamers’ registration rights contracts

In August and September 2020, the contracts with the gamers Blaise Matuidi and Gonzalo Gerardo Higuain, each expiring on 30 June 2021, had been terminated by mutual consent. The financial results of those terminations had been totally recognised within the monetary statements at 30 June 2020.

Renewals of gamers’ contracts

Through the first half of the 2020/2021 monetary 12 months, the contracts of gamers Dejan Kulusevski (as much as 30 June 2025) and Christian Romero (as much as 30 June 2025) had been renewed.

These renewals will end in general decrease amortisation for the 2020/2021 monetary 12 months of roughly € 1.4 million.

Jeep sponsorship contract

In consideration of the mutual satisfaction of the partnership between Juventus and the Jeep model from the 2012/2013 soccer season, Juventus and FCA Italy S.p.A. reached an settlement in December 2020 to resume the sponsorship of the match jersey for the 2021/22, 2022/23 and 2023/24 soccer seasons. The settlement supplies for a base payment for every season of € 45 million and variable elements primarily based on workforce outcomes.

B&W Nest consolidation

On 3 July 2020, Juventus acquired from Lindbergh Inns S.r.l. its fairness funding (equal to 60%) in B&W Nest S.r.l. (firm that manages the J Resort); because of mentioned acquisition, Juventus holds your complete share capital of B&W Nest S.r.l.

Therefore, the Firm is now required to arrange consolidated monetary statements; to this point the scope of consolidation contains solely Juventus and B&W Nest S.r.l.

Appointment of latest Chief Monetary Officer and Supervisor accountable for getting ready the monetary stories

On 11 July 2020, the skilled relationship with Marco Re, Chief Monetary Officer and Supervisor accountable for getting ready the monetary stories, was terminated. The Board of Administrators, which met on 12 July 2020, appointed Stefano Bertola because the pro-tempore Supervisor accountable for getting ready the monetary stories, pursuant to Article 154-bis of Italian Legislative Decree no. 58 of 24 February 1998 and after listening to the beneficial opinion of the Board of Statutory Auditors, given the necessities of the By-laws for the place had been met. Stefano Bertola was additionally appointed because the Firm’s Chief Monetary Officer, on a pro-tempore foundation. This succession within the function of Chief Monetary Officer happened following a useful and operational analysis of the Firm’s Companies Space, i.e., the world coping with administrative/monetary and repair actions.

Revision of the organisational and operational mannequin and new senior administration organisational construction

As a part of the method of revising the operational and organisational mannequin that was launched in Might 2020 and is at present ongoing, the Firm adopted a brand new organisational construction that includes the focus of its actions in two macro-structures: the Soccer Space and the Enterprise Space.

The coordination of every space is assigned to a Managing Director, who stories on to the Government Chairman, Andrea Agnelli: Fabio Paratici, for the Soccer Space, and Stefano Bertola, for the Enterprise Space.

Extraordinary Shareholders’ Assembly of 15 October 2020

The Extraordinary Shareholders’ Assembly of 15 October 2020, wherein these people entitled to vote participated solely via the designated consultant with out bodily attendance by the shareholders, in an effort to minimise the dangers related to the well being emergency linked to the Covid-19 pandemic, accredited the monetary statements at 30 June 2020, which closed with a lack of €89.7 million (in comparison with a lack of €39.9 million within the 2018/2019 monetary 12 months), coated through the use of the share premium reserve.

Consolidated Half-Yearly Monetary Report at 31 December 2020

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Disclaimer

Juventus Soccer Membership S.p.A. printed this content material on 09 April 2021 and is solely accountable for the knowledge contained therein. Distributed by Public, unedited and unaltered, on 09 April 2021 15:09:08 UTC.