The past year is one that I can only describe as bitter-sweet both on and off the pitch, as we achieved some great results but also experienced some unexpected disappointments.
In January we completed a capital increase of €300 million with three main objectives: to ensure the team remains competitive, to increase our operating revenue and visibility of the Juventus brand in the wake of a series of investments, and to consolidate our economic and financial balance. This laid the foundations for a strengthening of the balance sheet that we wouldn't have expected to use for other reasons.
With regards to our results on the pitch, I have nothing but praise for Pavel Nedved, Fabio Paratici and Federico Cherubini. Winning the title in the circumstances we had to deal with last season was a tremendous achievement – and one I don't think we, the fans or the media gave due credit to.
Our Women won their third consecutive Scudetto and for that praise must go to Stefano Braghin – the best women's football official in Italy – and Rita Guarino. Our Under-23s won the Coppa Italia and I would like to thank Fabio Pecchia – who is no longer at the club – for such an extraordinary achievement.
However, there were disappointments too. We lost two finals – the Coppa Italia and the Italian Super Cup – and we were knocked out of the Champions League by Lyon in the last 16. And these are things that we are not happy about.
Off the pitch, our results were in line with the expectations of our medium-term plan. Revenue from sponsorships reached €130 million – an increase of around €20 million on the previous year. This means our commercial revenue is 30% higher than what we received from domestic TV rights, breaking away from what was an over-dependence on the main source of revenue in recent years.
Juventus is also now the most popular Italian brand on Instagram – a tangible sign of how big we have become.