FIGC head office - Photo Samantha Zucchi (Insidefoto)

Cost controls and increase in commercial revenue has helped the FIGC obtain a net income of €5.9 million in 2016.

Italian Football Federation CEO Michele Uva presented the details of the financial statements at a FIGC assembly.

Following cost and budget controls and the efforts to enhance the FIGC brand to increase commercial revenues, the federation obtained excellent results.

Operating costs increased by €18.6 million, mainly due to the participation of the Azzurri in the 2016 UEFA Euro and the organization of the UEFA Champions League finals for both the men and women.

Italy - Uruguay (Insidefoto)
Italy – Uruguay (Insidefoto)

Total operating costs for 2016 were €174.1 million, €105.1 million for Sporting Activities, Operating Costs of €34.8 million, (EBITDA of €34.2 million compared to €24.3 in 2015). Profit pre-tax was €21.1 million compared to €17 million in the 2015 financial year.

These results represent the best-recorded data since 2004, the first year whereby a proper comparison can be made.

On the balance sheet, there is an increase in net equity of €46.8 million, with an increase of approximately €17 million in working capital and a decrease in the payables (net of advances) of approximately €8.5 million.

“On the investment side, the FIGC is committed to the enhancing the activities of our national, youth and school sectors and infrastructure, starting with our training centre in Coverciano where a restructuring is underway for around €4.5 million not only on the pitch but also in the different areas of the Technical Centre.”