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.
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.”