July 24, 2024

Director celebrates debt reduction and explains the balance sheet

2 min read
Director celebrates debt reduction and explains the balance sheet
Director celebrates debt reduction and explains the balance sheet

Responsible for the finance department CorinthiansDirector Wesley Melo, accompanied by Frederico Gama Gundem, Partner and Head of the Services and Technology Unit at Falcone, attended the press this afternoon (6) to detail the latest balance sheet figures issued by the club – referring to 2021 according to the criteria adopted by the club, Alfinegro managed to reduce His total debt increased by 4% compared to 2020 and ended last season with a surplus of R$ 5.7 million.

“We achieved last year’s financial results. We worked on a mindset, a change in culture, to stem the growth of debt. We would like to have an operating and terminal surplus and we have achieved it. We still have a lot to do, the war is going on, but we are confident of the outcome,” began Corinthians CFO, Good numbers are also expected throughout 2022.

“The level of indebtedness has decreased, the operating profit has come out of the red and gone to nearly 6 million Brazilian riyals. We see a great development, work is being done with the goals with the club. Excellent development in terms of the maturity of the club’s management” repeated Frederico Gundem when citing the debt of 912 million reais. Brazilian, according to the criteria adopted by the club.

In an interview with UOL Esporte Awarded last week by economist Cesar Grafitti – subject matter specialist – I disagree with the numbers given by Alvenegro According to data published in the balance sheet, he priced the debt at R$973 million. Therefore, higher than that presented in the balance sheet for 2020, the last of the administration of President Andres Sanchez.

Also according to Parque São Jorge’s chief financial officer, the debt numbers at the end of this season are unpredictable, due to the many variables that make up the number. However, the outlook is the best it can be, with Corinthians anticipating revenue of approximately R$600 million throughout this year and maintaining a management culture.

“Debt is down 4% in 2021 and we expect it to go down a lot now in 2022. Debt reduction will depend on what’s left at the end of the year and also on the short- and long-term rating, so there are some variables and what we want is to continue to reduce this,” he explained. Debt all year round.

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