(Riccardo Schiroli) – To take charge of the Parma football income statement, I would feel like putting my hands in my hair, if I had them. I’ll lean towards one “Thank you, Mr. Krause”. Because without him and his group, all of this wouldn’t exist. Krause has in fact injected something like 371.4 million euros into the company’s accounts through Krause Group Italia. It’s about “subordinated interest-free financing”which means they don’t make it to the Krause Group nothing and, in the event of company problems, they become payable only after all other creditors have been satisfied.
It’s not all. Most of this credit (299.8 million) was converted into company capital. Means that Krause will never be able to ask for that money back. The result for Parma is that the net worth is positive and equal to 19.7 million.
This fact reminds me of a pleasant discussion I had in Graz, Austria with a manager from the financial sector of Parma branded Tanzi and Parmalat. To my statement (a bit strong, I admit, but I don’t think it has been contradicted by the facts) that the project was not sustainablethe manager in question opposed the firepower of the Parmalat group. When I pointed out to him that balance sheet of Parma it did not reflect the economic power of the partner at all and that, indeed, it was not plausible that it supported the company’s level of debt, he replied “That’s why I have no answer”.
In the meantime, everyone had distanced themselves from the discussion and the banquet was drawing to a close. The manager greeted me cordially. But upon my return to the editorial staff of Teleeducated I found a series of funeral faces accompanying a message inviting me to contact the company administrator immediately Pier Gaiti. It was pointed out to me that there was no point in getting involved in these discussions and that I was following Parma to report on the match.
Returning to Parma balance sheet todayit balance sheet and instead exemplary. THE debts to third parties, including banks, are reduced to a minimum. The largest medium and long-term debt position is that towards the parent company. I don’t really agree with it report on the budgetwhich defines the financing of members “own resources”but this is a technical question. The Krause Group guarantees the business continuity and put it down in black and white with a “support letter” dated March 25, 2024.
Krause, to put it bluntly, keep putting money into it. And if on the one hand this reassures, on the other it invites you to read the document carefully income statement which, as I stated in shortwould make me put my hands in my hair if I had it.
It’s a (barbaric) habit of the Italian sports press evaluate the condition of a football club’s accounts from market balances, as if we were talking about a municipal company from the 70s that was called upon to launch a budget estimate, a final balance sheet and then move on to the collection to balance the accounts. Instead, it should be analysed income statementto evaluate how the company is doing at running its business.
Parma, let’s say it clearly, is not doing well. The latest balance sheet recorded a loss of over 80 million. To earn 28.9 million, Parma spends more than 109 million, including amortization.
The emblematic fact is what concerns wages and salaries, amounting to 38.8 million. AND’ higher than the production value. It’s about a figure honestly abnormal for B. The salary amount of the Parma And higher than that of several Serie A clubs.
It’s just the income statement Garibaldino is a novelty for the Parma. We know everything about the Tanzi and Ghirardi managements. Krause he inherited the season’s accounts in the red 2020 (with an equal discount on the selling price by the sellers). With the losses of 2021 And 2022does a total of 200 million. The legislative decree of 2020 issued to contain the damage ofCOVID emergency allows these losses to be postponed to the financial years 2025, 2026 and 2027. But sooner or later, the Krause Group he will have to reach for his wallet again.
No one is capable of losing 80 million a year for a long time. Parma must necessarily find a way to increase turnover. From the industrial plan of the Krause Group you can breathe a lot optimism for the contribution that the new Tardini will give to this cause. I believe that income from “owned stadium” always create exaggerated expectations. For now, however, it’s all theory. I wait (and hope…) to see the new stadium and its concrete contribution to the accounts, before having my say.
Realistically, to bring Parma to earn 100 million or more per year it would be necessary to participate in a European Cup. In the meantime, buddy Krause, hand on your wallet… Riccardo Schiroli
RELATED ARTICLES AND MULTIMEDIA CONTRIBUTIONS
PARMA’S BUDGET: WITH HIS GOLDEN RAIN, KRAUSE CLEARS THE DEBT TO ZERO
Parma Calcio 1913, Financial statements as of 31-12-2023
Parma Calcio 1913 Group, Consolidated financial statements as of 31-12-2023
