A River not only do the numbers close, but they get bigger. This is determined by the financial statements that on Thursday evening the Board of Directors unanimously approved for the period between 1 September 2021 and 31 August 2022, in which it was observed an increase in net worth, reflecting a surplus of nearly 2.9 billion pesosa historical number.
This positive result, of -exactly- 2,862 million pesos, which the financial statements showed, could be achieved through three fundamental items:
- 1) increase in business income;
- 2) 120,000 new members;
- 3) the sale of players.
As for the first point, it was youn 84% increase in sponsor revenue compared to the previous year, following important agreements, among which those of Code, Adidas, First video, Socios.com and the name of the stadium, among others. That way, River has managed to monetize its brand much more.
As regards the second item, the growth of the company mass was fundamental. River added 130,000 partners. Taking social tax revenue into account, the club received more than 4 billion pesos and had a 52% increase in that entry over the previous year. Y 80,000 of these members joined across the Somos Riverwhose revenue increase was 144%.
And in reference to the third, the transfer of players – including the important disposals of Julián Álvarez and Enzo Fernández – also left 4,186 million pesos. But here there was 24% less revenue than in 2021 (it was 5,536 million pesos). And he’s an extrovert as he proves it River no longer has an addiction to selling their players to have their finances in order.
There are other indications that River has found economic stability. On the one hand, there is significant asset growth which increased (in constant currency at the end of the fiscal year) from the previous fiscal year by $ 7,180 million (40%), from a total of $ 17,897 million to $ 25,077 million in the current fiscal year.
stands out investment of over 3,000 million pesos in the reconstruction of the Monumental (self-financed through the presale of the new structures) and over 3,000 million pesos in professional football.
And on the other hand, Debts with financial and sports institutions have been canceled. In other words, River has already regularized its commitments with national and international banks and clubs, so it does not have overdue debts. By eliminating the debt for receivables, there was then a decrease in financial liabilities.
In short, the most substantial thing is that in this balance, River achieved an increase in net worth, which grew 53% over the 2020-2021 financial year, going from 5,393 million to 8,255 million pesos. Furthermore, solvency ratios doubled and liquidity ratios quadrupled.
The result of a management
“This balance sheet is not the photo of a year, but the result of a management that began a long time ago. We know that the economic results are not something to celebrate, but we are also clear that they are the indispensable basis for sports results to be sustainable over time “.expressed the club’s treasurer, Andrés Ballotta, in dialogue with Clarione.
While, River’s opposition considered this to be a historical equilibrium. “All the reports and indices in this report indicate that it is the strongest of River’s last 25 years and I made that recognition before the Board of Directors. It is a balance sheet that ends with a lot of investments and a super solid net worth, ”he told this newspaper Sergio Onatemember of the first minority and public accountant.
In River they feel that these economic results are fundamental and necessary to be able to sustain a solid and sustained project over time and that they are essential to try to get back on the path of sporting conquests.
Source: Clarin
