A decrease linked in part to the decrease in payables to shareholders (from € 229.4m to € 197.8m) and to the decrease in payables to companies for the transfer market, with an increase, however, of € 25m due to banks, with the use of a credit line of 25 million "in connection with the liquidity needs of the purchase / transfer campaign of the 2019/2020 season". Payables for bonds decreased to € 280 million, compared with € 285 million at June 30, 2018.
As regards payables to shareholders, during the year Suning, and specifically on June 26, 2019, converted part of the loans for an amount of € 40 million into "Reserve for payment in future capital increase", "The future increase reserved exclusively for shareholder Great Horizon S.a rl" explains the Nerazzurri company. Furthermore, part of the € 48.5 million loan linked to Suning was sold to another company in the Zhang galaxy, the “Grand Flagship Limited” (“company under the control of the parent companies”), with an extension of the deadline to 31 December 2020. The extension of the deadline to December 31, 2020 was also carried out for the remaining debt to Suning.
Furthermore, linked to the company of Zhang Jindong, there are also receivables for 49.7 million, of which 39.8 collected in July and August 2019, linked to the sponsorship of the training kit, the naming rights of Pinetina, the Inter Acadmey and the sharing of know-how with Suning Sports in China.
As for the debts linked to the transfer market, the debt to specific sector entities, namely the clubs, fell from € 177.8 to € 134.9 million: receivables from the same companies rose from € 197 to € 134.3 million EUR.
If the debts towards the soccer companies grow, however, the credits towards them increase. At June 30, 2018, receivables from national and international football clubs amounted to € 197 million (compared to € 177 million in debt). The balance is therefore positive for around 20 million.
The net working capital, or the sum of liabilities and short-term assets is positive for approximately 22 million euros, a slight worsening compared to the positive balance of around 27 million in the 2017-2018 financial year. "The net working capital as at 30 June 2019 shows a positive balance, slightly lower than the balance of the previous comparative year, mainly due to the combined effect concerning the more than proportional decrease in receivables compared to that of current debts", reads the financial statements of Nerazzurri club.
The Net Financial Position of Inter at June 30, 2019 was thus -456 million euros, an improvement compared to the -477 million of the financial year ended June 30, 2018. Shareholders' equity at June 30, 2019 was negative for 4.5 million of Euro.
“From a financial standpoint, the level of capitalization, despite the loss achieved by the Parent Company during the year, is currently congruous with reference to the capital requirements set by the Civil Code, also thanks to the waiver of the shareholder loans previously granted to the Group for a total of Euro 145 million, of which € 105 million converted during the 2017/2018 financial year (of which € 85 million can also be used for a future capital increase reserved exclusively for the shareholder Great Horizon S.a ri), and € 40 million deriving from the conversion took place on 26 June 2019 in "Reserve for payments into the future capital increase" reserved exclusively for the shareholder Great Horizon S.a.rl ", writes Inter in the financial statements.
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