Inter waiting on more than €50m from international sponsorships

Inter Media and Communications have announced that the Nerazzurri’s income from sponsorship and TV rights increased by 25.7%, but the club is yet to receive over €50m from international sponsors.

Inter Media and Communications, the manager and operator of the media, broadcast and sponsorship business of Inter, have released the financial report for the first six months of 2020-21.

“Our Adjusted Revenue increased by €41.3 million or 25.7% to €202.3 million,” the statement reads.

“Single components of YTD December 2020 Adjusted Revenue are significantly affected by an accounting deferral resulting from the shift of the end of the 2019/2020 sporting season and of the beginning of the 2020/2021 sporting season.

“On a pro-forma basis (and comparable basis), the increase of our Adjusted Revenue amounts to €3.2 million or 2.0% (with pro-forma Adjusted Revenue amounting to € 164.2 million), with all the single components of Sponsorship and Media Rights overall in line with the same quarter of prior fiscal year and the increase driven by higher UCL Media Rights.

“Sponsorship Revenue increased by €13.9 million or 36.3% to €52.2 million for the six months ended December 31, 2020 from €38.3 million for the six months ended December 31, 2019, while, on a pro-forma basis, they are in line with prior period, with a small decrease of €0.6 million (or 1.5%) to €37.7 million.”

Inter, however, still need to receive about €55m from international sponsorships. 

“The collection size and timing of trade receivables under the International Sponsorship contracts: in the six months ended December 31, 2020 related receivables remained stable, while in in the six months ended December 31, 2019 they decreased by €22.8 million,” the club explained.

“The resulting negative impact of €22.8 million mainly relates to the fact that in the six months ended December 31, 2019, we collected an amount of €40.6 million related to outstanding receivables from prior year, while in the six months ended December 31, 2020, collections amounted to €18.0 million o The general impact on the timing of collection of trade receivables resulting from the pandemic and the consequent shift of the 2019-2020 and 2020-2021 sporting seasons.”

“In the period July 1st, 2016 – December 31st, 2020, we booked cumulative revenues of €305.9 million, collecting, to date, €250.2 million (82%), of which €18.0 million has been received since July 1, 2020.

“With regards to amounts remaining outstanding/overdue, we are in regular contact with the counterparties.”