Sporting SAD recorded a loss of 6.9 million euros in the first half of 2020/21. The financial results have been reported to the Securities Market Commission (CMVM), with the impact of covid-19 playing a central role on this balance sheet.
During this period from July 1 to December 31, 2020, the “Löwen” point to a reduction in operating costs of 14.2 million euros (24%), of which 6 million can be attributed to a decrease in personnel costs (minus 17%) .
The total liabilities also decreased for the third half in a row and now amounted to 291.8 million euros (compared to 324.8 euros in July 2019), which corresponds to a decrease of 6.8 million euros compared to the first half of the previous year.
However, global assets also fell from EUR 288.7 million to the current EUR 274.4 million in this period, which contributed to a tightening of negative equity, which is now EUR 17.37 million and is almost twice as high as in June 2020 (9.89 million euros).
The net result of this exercise is a negative value of 6.9 million euros, a value that Sporting SAD attributes to various factors, almost all of which are a result of the effects of covid-19. Starting with the decline in the transfer market, which caused player sales to drop by 18.3 million.
“With regard to the semester ending on December 31, 2020, the effects of the reduction in sales from the implementation of the games behind closed doors amounted to 8.9 million euros for accounting purposes, as follows: Loss of 2.8 million euros in Gamebox (… ); A loss of 1.4 million euros in the first six months of the season and 3.4 million euros by the end of the year is estimated for the box office. In the booths and in advertising, around 3.1 million euros and 6.3 million euros were lost over the entire season ”, explain the“ lions ”and add a loss in sales of 1.5 million euros for merchandising and events.