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Bruno Costa Carvalho praises seven years and leaves warnings for the future
“I have been analyzing Benfica’s accounts for many years. I try to do it in the fairest way possible and always with the intention of helping to keep our SAD on the right track. It is not because of elections that I am going to deviate one millimeter. ”, Says Bruno Costa Carvalho in a recent post on Facebook and in which he proposes to analyze the Benfica SAD Report and Accounts, revealed this Wednesday.
While he recalls the positive results of the last seven years, the candidate for the Benfica elections, scheduled for October, leaves a detail that he considers important: “However, it is somewhat paradoxical that the Liabilities, in 2013, were 372 million and Today, with so many player sales in the meantime, it is still 325 million, a value that seems clearly exaggerated and that I would like to lower. More worrisome is the performance of SAD if we do not take into account the sales of players. It is that without these sales, the results this year would be negative by 31 million euros, clearly the worst result since 2013. The worst had been even that year with a loss of 7 million ”.
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“I have been analyzing Benfica’s accounts for many years. I try to do it in the fairest way possible and always with the intention of helping to keep our SAD on the right path. It is not because of elections that I am going to deviate 1 millimeter. .
I begin by recalling that, in 2013, SAD had a negative equity and recorded losses of 9 million euros.
From 2013 to today, many things have changed. After 7 consecutive years of positive Net Results, we see a SAD with a robust capital of 161 million euros, which is clearly better than our direct opponents.
However, it is somewhat paradoxical that Liabilities, in 2013, were 372 million and today, with so many player sales made in the meantime, it is still 325 million, a value that seems clearly exaggerated and that I would like to lower.
More worrisome is SAD’s performance if we don’t consider player sales. It is that without these sales, this year’s Results would be negative by 31 million euros, clearly the worst result since 2013. The worst had been even that year with a loss of 7 million.
This shows that Benfica is too dependent on the sale of its best players and that this year’s results seem abnormally high due to the sale of a player for more than 120 million euros, something that is not expected to be repeated every year. years.
Thus, it seems to me that Benfica’s accounts are good, but with a very strong alarm signal in the Operating Results that show that Benfica, in its day-to-day life, is spending more than its possibilities, also putting SAD at the mercy of the player sales.
It is also important, and with prudence, to attack the Liabilities head on, who insist on not going down to safer values ”.
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