Real Madrid announced revenue of 1.185 billion euros in fiscal 24-25, and after-tax profit of 24 million & net assets of 598 million

Real Madrid officially issued an announcement announcing that the club's after-tax profit in fiscal 2024-25 will reach 24 million euros. Excluding player transfer income, Real Madrid's revenue in 2024-25 reached 1.185 billion euros, an increase of 10% over the previous fiscal year. The revenue exceeding the 1 billion euros mark for two consecutive fiscal years is also an unprecedented achievement for football clubs.

In the 2024-25 season, the club's profit before interest, tax, depreciation and amortization (EBITDA) was 208 million euros before the sale of assets, and the total EBITDA was 243 million euros, the highest record in the club's history. As of June 30, 2025, Real Madrid maintained a stable financial situation, with net assets reaching 598 million euros, cash reserves of 166 million euros, and net debt of 12 million euros.

Real Madrid's board of directors met on July 17 to review the annual accounts for the 2024-25 fiscal year. At the sports level, the football first team won the European Super Cup and Intercontinental Cup championships, reached the quarterfinals of the Champions League, won the runner-up in the King's Cup, and ranked second in La Liga. The basketball team won the ACB League championship and reached the quarter-finals of the Europa League.

It is worth mentioning that the football team also participated in the new version of the Club World Cup held from June 15 to July 13, 2025, and finally ended in the semi-finals. As the matches are played across two fiscal years, the club recorded revenue and expenses for the first half of the event in the 2024/25 season accounts, while revenue and expenses for the second half of the event will be included in the 2025/26 season accounts.

In the 2024-25 season, the club's revenue (excluding fixed asset disposal) reached 1.185 billion euros, an increase of 112 million euros (a 10.4%) from the 2023-24 season. In the 2023-24 season, Real Madrid broke through the 1 billion Euro revenue mark for the first time, making it the first time among football clubs. All business lines of the club have achieved growth, but the broadcasting business has declined slightly due to La Liga's new distribution system. But it is particularly worth mentioning that revenue from events, marketing and stadium operations has increased significantly, and the income from participating in the new version of the Club World Cup has made up for the reduction in the Champions League revenue. In terms of commercial activities, in addition to vigorously promoting commodity sales and sponsorship activities, the club has also signed a number of new and important sponsors. In terms of stadium operations, the club fully utilized the conventional business operation capabilities of each line, and its revenue increased significantly. However, some businesses such as catering and music have not yet been fully operated. In addition, the "personal seat license" product continued to be sold in the 2024-25 season, but compared with the decrease in the number of seats sold in the previous season, the revenue in this part of the company has decreased. Excluding these license revenue, the stadium's regular audience and commercial operation revenue in the 2024/25 season increased by 38% compared with the previous year. In the fiscal year 2024-25, the proportion of club personnel expenditure to revenue fell to 43%, a decrease of 4 percentage points from 47% in the previous fiscal year, the lowest level in 2000 and far lower than the highest level of European club associations 70%. By increasing revenue and controlling spending, Real Madrid has maintained this ratio at a healthy level even after being affected by the epidemic for more than 20 years.

Profit before interest, tax, depreciation and amortization was 208 million euros, an increase of 65 million euros over the previous fiscal year, accounting for 18% of total revenue, an increase of 4.3 percentage points, indicating that the club's revenue and operating efficiency have been significantly improved this fiscal year. If the 2024-25 season players and other fixed assets disposal income (35 million euros), Real Madrid's profit before interest, tax, depreciation and amortization reached 243 million euros, an increase of 87 million euros over the previous fiscal year.

The club's profit before interest, tax, depreciation and amortization in the previous fiscal year was 156 million euros, of which the disposal income was 13 million euros. The club performed outstandingly in operational effectiveness and responded to management challenges. In the 6 years from the 2019-20 season to the 2024-25 season, it faced various difficulties such as the epidemic and stadium renovation, achieving an average of 186 million euros per year.

It should be noted that starting from the 2024-25 fiscal year, the amortization expenses and financing of the stadium renovation project will be included in the profit and loss statement. Real Madrid achieved an after-tax profit of 24 million euros in this fiscal year, an increase of 9 million euros over the previous fiscal year. This positive result continues the club's continued profit trend since 2000.

Due to continuous returns, the club's net assets have increased year by year. As of June 30, 2025, the figure has reached 598 million euros. Excluding the debt-to-net equity ratio after the stadium renovation project is 0, which shows that Real Madrid is in a state of financial stability and high autonomy. Without counting the loan for the stadium renovation project, the club's cash balance is 166 million euros, compared with 82 million a year ago. The operating activities and financial management of the club generated sufficient cash flow, so that the cash balance still increased by 84 million after paying all operating expenses, player acquisitions, other investments and repayment of ICO loans (EUR 40 million), and stadium renovation loans (EUR 60 million). As of June 30, 2025, in addition to the 166 million euros cash reserves, the club also had an unused credit line of 425 million euros.

As of June 2025, the club's net debt (excluding stadium renovation projects) was EUR 12 million, which is not much change compared with EUR 8 million in June 2024. In the fiscal year 2024-25, the club's net debt remained basically stable, with investment expenditure reaching 194 million euros, including facility construction and player introduction (excluding stadium renovation projects). It is worth noting that due to the preparations for the 2025 Club World Cup, the signing fees of some players will be paid in advance until June of the 2024-25 fiscal year.

Judging from the changes in the club's net debt, Real Madrid has been carrying out high-intensity debt reduction since June 2009. This effort has been further strengthened after the epidemic. At that time, the club's net debt was as high as 241 million euros.. At present, Real Madrid's debt-to-EBITDA ratio has dropped to 0, with the highest credit level, maintaining a solid financial situation and extremely high solvency.

In the fiscal year 2024-25, Real Madrid contributed 356.2 million euros to taxes and social security. All businesses of the New Bernabeu project continue to develop and are about to be fully completed. As of June 30, 2025, the total investment has reached 1.347 billion euros, close to the final total. In terms of loans, 1.17 billion euro loans were fully withdrawn in November 2023. After only interest payments in fiscal years 20-21, 21-22 and 22-23, the principal will be repaid in fiscal years 2023-24, with the repayment amount of 15 million euros. Another EUR 23 million was repaid in the fiscal year 2024/25, so as of June 30, 2025, the remaining loan balance to be repaid was 1.132 billion euros.

2025-26 season, the club will complete the final work of the stadium renovation project, including some repairs and noise reduction measures. While awaiting approval to resume concerts, the club expects VIP seating revenue, RM experience and other business activities to continue to grow. It is particularly worth mentioning that the stadium will host an NFL game, which will be a major event. In terms of commercial operations, the club plans to continue to increase sponsorship revenue and commodity sales revenue. At the sports level, Real Madrid hopes to continue to strengthen development and maintain brilliant results in football and basketball. All of this requires an economic model that pursues sustained growth, which combines revenue growth and diversification, as well as cost control efforts to achieve profitability and establish a financial structure to ensure that the club has sufficient solvency to make the necessary investments to support their activities.