Manchester United (MANU) investor relations material

Executive summary

• Operating profit for the nine months to 31 March 2026 was £37.7 million, reversing a £3.2 million loss in the prior year period, driven by cost and headcount reductions and improved Premier League performance.

• Adjusted EBITDA for the nine months rose 29.0% year-over-year to £187.5 million.

• Men's first team finished 3rd in the Premier League, qualifying for the 2026/27 UEFA Champions League; women's team finished 4th in the Women's Super League and reached the Women's Champions League quarter-finals for the first time.

• Announced contract extensions for key personnel and players, and ongoing plans for a new 100,000-seat stadium.

Financial highlights

• Total revenue for the quarter increased 18.1% year-over-year to £189.5 million; nine-month revenue up 3.5% to £520.1 million.

• Commercial revenue for the quarter grew 10.3% to £82.4 million; broadcasting revenue surged 57.1% to £64.9 million; matchday revenue declined 5.2% to £42.2 million due to fewer home matches.

• Adjusted EBITDA for the quarter was £84.7 million, up 65.4% year-over-year.

• Net loss for the quarter was £11.8 million, compared to a £2.7 million loss in the prior year quarter; nine-month net loss improved to £14.3 million from £29.1 million.

• Exceptional items of £16.7 million in the quarter, mainly related to coaching staff changes.

Outlook and guidance

• Fiscal 2026 revenue guidance raised to £655–£665 million; Adjusted EBITDA guidance increased to £200–£210 million.

• Club remains compliant with Premier League and UEFA financial regulations.