LALIGA's Total Recurring Income grow by 15%, close to €5.0 bn

LALIGA recorded Total Recurring Income of €4,889.6M in S22/23 according to the annual Financial Report presented today (+15% vs. S21/22), confirming the sustainable growth that LALIGA Clubs have been experiencing in recent years.

 

This figure is underpinned by record commercial revenues (+28.6%) due to improvements in commercial operations, as well as growth in matchday revenue (+36.9%) thanks to all-time record stadium attendances. Additionally, the record investment in future growth by the Clubs, thanks in part to BOOST LALIGA/CVC, as well as other private initiatives, corporate debt remaining stable and under control (at pre-pandemic levels) and the high financial solvency of the competition, mean that the recurring turnover of the Clubs will continue to grow in a healthy manner over the coming seasons.

If we add Total Recurring Income, which increased by 15%, to those resulting from the extraordinary corporate operations carried out in S22/23, Total Income reached €5,698M (+18% vs. S21/22).

 

This recovery is solid thanks to growth in the main recurring revenue streams and LALIGA is significantly better placed than other competitions in terms of growth capacity, margins, performance and solvency.

 

In S22/23, LALIGA Clubs again recorded and increase in revenues and profits at aggregate level, both in terms of EBITDA and EBIT and Net Result (€200M, +€340M vs NR in S21/22). Results improved, although still somewhat lower than pre-pandemic levels due to lower transfer activity, as detailed below.

 

S22/23 saw a new stadium attendance record, exceeding 15M spectators for the first time with an average occupancy rate of 72%, which has had a positive impact on the Clubs' matchday revenue.

 

In terms of commercial revenue, it exceeded €1 billion (€1,198 million) for the first time, with a very positive outlook for S23-24, due to the maturity of the commercial expansion and growing attendance at the stadiums.

 

Player transfer revenue, which suffered a lot during the COVID pandemic, is growing again with a steady recovery of +69% compared to S21/22, although it’s still below pre-pandemic levels, this trend is shared with the other major competitions.

 

In this respect, the recovery in this area will be slow due to the regulatory pressure on English clubs, which, with the creation of the regulatory body under the British government, is beginning to have an effect in the form of sanctions and a lower volume of transfers.

 

The overall LALIGA squad costs remain stable, with wage costs, including transfer amortisations, of €3,000M in S22/23, and with a ratio over revenue very close to the 70% threshold which will be required by UEFA regulations from S25/26 onwards.

 

LALIGA Clubs are at a landmark moment in terms of investments in growth and infrastructure, mainly thanks to the projects derived from BOOST LALIGA/CVC and the renovation of the Estadio Santiago Bernabéu. For the 23/24 season, investment in the Spotify Camp Nou will be added.

 

In summary, these figures support LALIGA's strategy of financial sustainability, with a strong solvency thanks to the positive results and the support of shareholders in the form of capital increases, raising the equity ratio to 14.3% (23.4% with BOOST LALIGA/CVC).

 

All this is accompanied by great sporting competitiveness backed by sporting successes, as well as positive forecasts for results and solvency for the coming seasons.