Inter Posts €22.7m Profit Despite Revenue Drop Under Oaktree

Inter Milan have officially recorded a net profit of €22.7 million for the 2025-26 financial year, marking their second consecutive positive balance sheet result under the ownership of Oaktree. While the figures demonstrate robust fiscal management at the Giuseppe Meazza, the overall profit represents a decrease from the previous year’s record €35.4 million surplus, which was heavily amplified by the club’s lucrative run to the Champions League final and participation in the expanded Club World Cup.

Total turnover for the Nerazzurri dipped from €567 million down to €517.7 million. Despite this contraction, club executives noted that it remains the second-highest turnover in Inter history. The primary catalyst for the revenue reduction stemmed from UEFA broadcasting income, which almost halved from €136.8 million to €73.8 million, alongside the absence of the €31.4 million payout previously secured from the Club World Cup.

Revenue Streams and Cost Optimization Under Oaktree

To offset the decline in continental television revenue, Inter bolstered other income categories. Commercial revenue climbed to €150.8 million, while player trading brought in €33.1 million, including €19.9 million generated strictly through capital gains. Matchday income experienced a slight dip, settling at €92 million. Additionally, other revenue streams jumped significantly to €72.9 million, aided by a €22.3 million share from the legal settlement between Serie A, its member clubs, and IMG concerning international TV rights spanning from 2008 to 2018.

On the expenditure side, operational costs fell by 4 percent down to €462.8 million. Staff expenses decreased to €239.7 million as reduced spending on coaching staff salaries and performance bonuses successfully offset an incremental rise in first-team player wages from €154.6 million to €161 million. Amortisation charges also trended downward to €79.9 million.

Crucially, net financial costs were more than halved, dropping to €16.8 million. This sharp reduction followed the successful refinancing of the club’s bond structure, providing a vital cushion that absorbed the blow of lower television receipts. Consequently, Inter’s consolidated equity bounced back into positive territory at €10.4 million, marking a significant recovery from the negative €12.3 million recorded a year prior. Total debt edged up slightly to €665.4 million—including €346.8 million in bonds—while cash reserves strengthened moderately to €120 million.