ACF Fiorentina - ACF Fiorentina As A Company

ACF Fiorentina As A Company

Since re-established in 2002, ACF Fiorentina S.p.A. yet to self-sustain in order to keep the team in top division as well as in European competitions. In the 2005 financial year, the club made a net loss of €9,159,356, followed by a net loss of €19,519,789. In 2006 (2005–06 Serie A and 2006–07 Serie A), Fiorentina heavily invested on players, made the amortization of intangible asset (the player contract) had increased from €17.7 million to €24 million. However the club suffered from 2006 Italian football scandal, meant the club did not qualify for Europe. In 2007 Fiorentina almost break-even, with a net loss of just €3,704,953. In 2007 financial year the TV revenue increased after qualified to 2007–08 UEFA Cup. Despite qualified to 2008–09 UEFA Champions League, Fiorentina made a net loss of €9,179,484 in 2008 financial year after the increase in TV revenue was outweighed by the increase in wage. In the 2009 financial year, Fiorentina made a net profit of €4,442,803, largely due to the profit on selling players (€33,631,489 from players such as Felipe Melo, Giampaolo Pazzini and Zdravko Kuzmanovic; increased from about €3.5 million in 2008). However it also offset by the write-down of selling players (€6,062,545, from players such as Manuel da Costa, Arturo Lupoli and Davide Carcuro).

After the club failed to qualify to Europe at the end of 2009–10 Serie A, as well as lack of player profit, Fiorentina turnover was decreased from €140,040,713 in 2009 to just €79,854,928, despite wage bill also fell, la Viola still made a net loss of €9,604,353. In the 2011 financial year, the turnover slipped to €67,076,953, as the club's lack of capital gains from selling players and 2010 financial year still included the instalments from UEFA for participating 2009–10 UEFA Europa League. Furthermore, the gate income had dropped from €11,070,385 to €7,541,260. The wage bill did not fall much and in reverse the amortization of transfer fee had sightly increased due to new signing. La Viola had saving in other cost but counter-weighted by huge €11,747,668 write-down for departed players, due to D'Agostino, Frey and Mutu, but the former would counter-weight by co-ownership financial income, which all made the operating cost remained high as worse as last year. Moreover in 2010 the result was boosted by acquiring the asset from subsidiary (related to AC Fiorentina) and the re-valuation of its value in separate balance sheet. If deducting that income (€14,737,855), 2010 financial year was net loss 24,342,208 and 2011 result was worsen €8,131,876 only in separate balance sheet.

ACF Fiorentina re-capitalized in 2006, for €34.7 million. In the next year la Viola re-capitalized €20 million and €20M again in 2008. In 2009 Fiorentina re-capitalized for €10 million only and did not had a re-capitalization in 2010 and 2011 financial year.