AGF (AGF) H2 25/26 earnings summary

Executive summary

• Achieved first Danish championship in 40 years, securing the 3F Superliga title with 67 points and strong performance in both league and cup competitions.

• Implemented a new group-wide strategy in late 2025, focusing on sports and commercial growth, talent development, and sustainability.

• Significant commercial progress with record sponsor revenue and merchandise sales, driven by sporting success.

Financial highlights

• Revenue increased to DKK 231m from DKK 188m year-over-year, mainly due to higher season ticket, TV, sponsor, and merchandise income.

• Result before tax was a loss of DKK 6m, in line with guidance of 0 to -15m.

• Equity rose by DKK 64m to DKK 269m, primarily due to a directed share issue.

• Cash flow from operations improved to -9m from -28m, with total cash flow at DKK 15m (prior year: DKK 4m).

• Liquidity reserve at year-end was DKK 137m, up from DKK 59m.

Outlook and guidance

• For 2026/27, expects a negative result before tax between DKK -15m and -45m.

• Management has prepared a budget and plan to maintain financial balance and achieve sporting goals.