He Valencia CF has published this Monday, November 17, the annual accounts for the 2024-25 financial year, which are now available to shareholders and will be presented on December 17 at the Ordinary General Meeting of Shareholders. Find out the most important information below:
- A positive result before taxes of 2.2 million euros was obtained during the year, consolidating the path of profits obtained in the previous year.
- The accounts present a positive operating result of 23.8 million euros. This figure increases by 7.8 million euros compared to the previous year: 16 million euros.
- There has been a small decrease in turnover (103.7 million euros compared to 106.9 million euros in the previous year) mainly due to the reduction in income from television rights due to the sports classification of recent seasons, as well as the distribution due to the CVC for this 24-25 season.
- Ordinary operating expenses without depreciation amounted to 114.5 million euros. There has been an increase in these expenses compared to the previous year, mainly due to the increase in the cost of the sports team, which has been influenced by factors such as the dismissal of the previous first team coaching staff and the cost of covering long-term injuries.
- Without a doubt, the most relevant aspect of the year is the resumption of the works on the New Mestalla after more than 15 years, a key milestone on an economic and social level for the Club that, since its inauguration in 2027, will become the new home of Valencianism and a fundamental pillar for generating income, promoting the growth of the Valencia CF over the next few decades.
- A restructuring of the corporate debt has become effective during the year that has consolidated the Club’s position of economic stability, allowing access to additional very long-term financing, and secondly, financing for the construction of the club has been addressed. New Mestalla in the very long term, in accordance with the amortization periods of said investment.
1. CORPORATE DEBT REFINANCING. Execution of long-term financing of 121.3 million euros and a bridge loan of 65 million euros that has been paid within the year itself with the financing of the New Mestalla. Through this operation, all existing corporate financial debts have been liquidated and current liens on them have been released, including the mortgage on the Mestalla Camp.
- This restructuring has also substantially improved the capital structure, providing sufficient liquidity, solvency and financial robustness to face the entity’s strategic plans with full strength and improving the interest rates that it was bearing until then.
- The restructuring of the debt, which the Club has been able to access after the efforts carried out over recent years, is positive and necessary. In this year it has entailed a higher financial expense due to the costs of canceling the previous debt and the adjustments to fair value: total financial expense of 22.4 million euros compared to 17.5 million in the previous year.
2. FINANCING FOR THE CONSTRUCTION OF THE NOU MESTALLA. Obtaining very long-term financing for the construction of the New Mestalla has been achieved through an asset securitization operation in which the Club will use part of the future income from the new stadium to repay the loan to the securitization fund established for these purposes. “Nou Mestalla, Securitization Fund”.
- The service of this debt, as it has been structured, is affordable for the Club, which could cover it with full solvency with the income it currently receives from the Mestalla Camp. The forecast is that this level of income will multiply by three in the New Mestallaas supported by the feasibility study carried out by CSLconsulting arm of Legendsa prestigious international company, leader in the sector.
- The fund has financed the operation by issuing bonds for an amount of 237 million euros over 28 years (three years grace period and a fixed rate of 5.82%), fulfilling the objective set by the Club when it began working on this operation of more than two years and a credit contract for 85 million euros over 5 years (variable rate of Euribor +3.5%, although the first two years, during construction, the rate is set at 5.545%).
- With the refinancing of corporate debt and with the new financing integrated through the Securitization Fundthe Group’s working capital as of June 30, 2025 is positive at 160.2 million euros compared to the negative 94.3 million euros of the previous year. Without considering the assets and liabilities of the Securitization Fund Working capital is negative at 19.8 million euros, which represents a substantial improvement compared to the previous year of 74.5 million euros.
