Enjoying the benefits of playing in a new stadium, Italian champions Juventus halved its loss after a 2011/12 season in which they clinched the league title without losing a match.
Winning the league has guaranteed the Turin club a place in the lucrative group stages of the 2012/13 Champions League.
The club made a loss of 48.7 million euros in the year to June 30, down from 95.4 million in 2010/11.
Juventus are playing in a new stadium after demolishing the unloved Stadio Delle Alpi, built for the 1990 World Cup, and replacing it with a smaller 41,000-seat arena with facilities for corporate clients and a club museum.
Reflecting the move, revenues for 2011/12 rose 24 percent to 214 million euros, helped by higher ticket sales and more income from sponsorship and advertising.
Fiat signed a 35 million euro deal in July to sponsor the club's shirts for the next three years, extending historic ties between the carmaker and the club.
Last season's league title completed the club's recovery after they were demoted in 2006 for their part in a bribery scandal.
However, they have been affected by the fallout from the latest scandal to hit the Italian game.
Juventus coach Antonio Conte has been banned for 10 months after being accused of not reporting matchfixing when he was in charge of another club. Conte has denied the allegations.
While Juventus are listed on the Italian stock market, the club is controlled by Exor, the investment company of Fiat's founding Agnelli family.comments