Sporting SAD presented this Monday the financial results for the first quarter of the 2020/21 season, a document that accounts for the impacts of the pandemic in this period but also in the total of the season.
“The results of the first quarter of the 2020/21 season result from the unavoidable effect of the consequences caused by the pandemic COVID-19, whose effect has been global, with Sporting SAD being no exception, with a negative impact estimated at around 5 million euros in the quarter now ended and in the total of the season at 17,5 million euros ”, can be read in the document sent to the CMVM.
These 5 million euros are divided by the following revenue lines, according to Sporting SAD: Gamebox and ticket office Sporting SAD had an estimated loss of revenue of 2,2 million euros; in corporate, which includes boxes and advertising and sponsorships, a loss of 1,6 million euros and; in merchandising a loss of 1,1 million euros.
The Lions SAD considers that this result will be “a consequence of the professional team playing games behind closed doors, not allowing the sale of the usual Gamebox (annual seats), the game-by-game ticket office, the corporate box office (cabins and business seats) and drastically affecting other revenue lines such as merchandising, visits and events, among others ”.
“Considering the entire season, the projected impact of the drop in revenue is 17,5 million euros. On the other hand, a reduction in variable costs for the 2020/21 season is estimated at 3,4 million euros (1,2 million euros in the quarter). As a result, the net loss in the first quarter is 3,8 million euros and could reach the annual amount of 14,2 million euros ”, says the Lions SAD.