Verdão, which had a surplus, spent more than it took in in the eighth month of 2023
Palmeiras published its budget for August 2023, but the result was not good. This is because, according to the numbers presented in the document, the club had an accounting deficit of R$6.9 million, that is, it spent more than it earned in the period. The good news is that year to date the account continues to make a profit, now at R$19.2 million.
According to the August budget, Verdão expects to close the month in “blue”, with a surplus of around R$4.4 million. However, revenue fell short of expectations and expenses exceeded budget. There were R$66.1 million in revenue and R$73 million in expenses, which resulted in a deficit of R$6.9 million. In the budget, the forecast was to collect R $ 70.1 million and to have expenses of R $ 63.8 million.
What ended up outside the curve were the revenues deriving from the sale of athletes (R$ 23 million less than expected) and the expenses for personnel and social security contributions (R$ 11.2 million more than expected). budgeted).
However, thanks to the result of July, when the club had an accounting profit of R$29.9 million, the current year continues with a surplus. Overall for the first eight months of the year, the club’s accounts are positive for R$ 19.2 million.
So far, revenue has been R$573.8 million, while expenses have been approximately R$554.5 million. The numbers are better than expected for the season. Accumulated revenue of R$482.3 million and expenses of approximately R$480.1 million were expected. In other words, the expected profit for the first eight months of 2023 was approximately R$2.2 million. Well below the R$ 19.2 million achieved.
According to Verdão’s budget, the club plans to raise R$704 million by the end of this year. While the forecast is to close the budget with a surplus of 13.8 million reals.
Palmeiras results month by month:
January: profit of R$64,644,000.00
February – deficit of R$ 36,604,000.00
March – deficit of R$ 20,329,000.00
April: profit of R$6,009,000.00
May – deficit of R$ 15,949,000.00
June – deficit of R$482,000.00
July – profit of R$ 28,892,000.00
August – deficit of R$6,933,000.00
Source: Terra
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