IFK Gothenburg reports continued commercial growth and limits the loss to SEK 9.4 million for the financial year 2023 despite a sportingly tough year for the men’s team.
The group’s net sales increased to SEK 167.5 million (151.3) and the profit for the year amounted to SEK -9.4 million (7.0) following tax. Net turnover excluding player transfers increased to SEK 142.3 million (132.8), which is a turnover record for IFK Gothenburg.
During the period, we have built up a more robust economy, which means that IFK Göteborg – despite a tough sporting year for the men’s team – is able to reach the business plan’s goal of generating profit over a rolling three years. As we enter the next three-year period with a new business plan, we see financial stability.
– Good commercial income allows us to achieve this result. It shows a stability. Some parts that stand out are that we are breaking records for audience revenue, merchandise and partner revenue, but also turnover excluding player transfers, says club director Håkan Mild.
– The operating result over the same period is acceptable considering the investments and changes that were made during the summer regarding the men’s team, says Marcus Hermansson.
IFK Gothenburg’s chairman Richard Berkling:
– We clearly see that the business has taken off commercially and profit-wise in terms of finances in recent years. 2023 was the last year of the current business plan and despite a loss of -9.4 MSEK, the equity has increased by 250 percent during the period to 34.6 MSEK. Where we have not succeeded is in revenue related to sporting success, European games and transfer revenue, which are important revenues to develop from the position we are in. On a positive note, in 2023 we balanced our actions well in terms of the short and long term as we strengthened the men’s squad during the summer window to secure the Allsvenskan contract at the same time as we developed our sporting organization to drive long-term development, performance and results. Despite a very challenging 2023, we have invested in the business and see potential for positive sporting and financial development in 2024.
Financial summary 2023 for IFK Gothenburg (2022 in brackets)
- Net sales: SEK 167.5 million (151.3)
- Profit on sale of players: SEK 25.2 million (18.5)
- Operating result: -13.2 MSEK (-2.9)
- Profit following tax: -9.4 MSEK (7.0)
- Equity: SEK 34.6 million (43.6)
For questions contact:
Richard Berkling, Chairman
Håkan Mild, club director
Marcus Hermansson, Chief Financial Officer