Sporting de Braga posted a positive net result of 8.6 million euros in 2019/20, the highest ever in its history, the Minho club said today.
According to a note released today, “the club presented an individual profit of 495 thousand euros, which, by incorporating the results of its subsidiary, Sporting Clube de Braga – Futebol SAD, allowed it to reach a net profit for the year of 8.6 million euros euros and an EBITDA [lucros antes de juros, impostos, depreciações e amortizações] 9.3 million euros ”.
“The results achieved are of significant importance, not only because they are the greatest ever achieved in Sporting de Braga’s almost 100 years of history, but because they operate as a guarantor of the club’s economic and financial balance, in an unfavorable situation unprecedented in society as a whole and in the sport sector in particular ”, can be read.
The amount received as a FIFA solidarity mechanism, in the amount of approximately 700 thousand euros, for the transfers of Trincão and Pedro Neto stood out in mitigating the impacts of the covid-19 pandemic, which were felt particularly in the last quarter of the 2019/20 season, stress those responsible from Braga.
With regard to operating expenses, staff remuneration amounted to 1.3 million euros and external supplies and services to 1.5 million euros.
The club’s assets are situated at 30.8 ME and liabilities at 20.1 ME, with emphasis on the full settlement of amounts owed to third parties in connection with the construction of the first phase of the Sporting City of Sporting de Braga.
The 2019/20 report and accounts of Sporting de Braga will be presented for approval by the members, at the general meeting, on October 31st, at 10:00 am, in the large auditorium of the Braga Forum.
On Tuesday, SAD shareholders will vote on the report and accounts from last season, with a positive net result of 22 ME, a record for that company.