AGF (AGF) H1 24/25 earnings summary

Executive summary

• Net income before tax for H1 2024/25 was DKK 13.3m, down from DKK 87.2m year-over-year, mainly due to lower transfer income and higher costs.

• Revenue increased to DKK 101.4m from DKK 95.9m, driven by higher sponsorship and merchandise sales.

• Equity stood at DKK 239.0m as of Dec 31, 2024, with cash and securities at DKK 70.5m.

• AGF ranked 4th in the 3F Superliga with 28 points after 17 matches.

Financial highlights

• EBIT for H1 2024/25 was DKK 10.4m, down from DKK 82.7m year-over-year.

• Operating loss (primary operations) was DKK -20.4m, compared to DKK -7.2m last year.

• Personnel costs rose by DKK 8.9m to DKK 64.4m, mainly due to sports sector investments.

• External costs increased by DKK 7.2m to DKK 42.5m, linked to merchandise, academy investment, and stadium transition.

• Net transfer income dropped to DKK 30.8m from DKK 105.1m year-over-year.

Outlook and guidance

• Full-year 2024/25 guidance remains a pre-tax loss of DKK 20–40m, with a deficit expected in H2.

• No narrowing of guidance range; actual results may differ due to inherent uncertainties.