AIK Fotboll (AIK) Q2 2024 earnings summary

Executive summary

• Revenue increased year-over-year, driven by strong growth in match, event, sponsorship, and merchandise sales, but operating losses persisted due to higher costs and lack of transfer income in Q2.

• A cost reduction program has been initiated to address the elevated operating deficit.

• Leadership changes occurred, with a new head coach appointed for the men's team in July.

Financial highlights

• Q2 2024 revenue rose to 65.6 MSEK from 57.0 MSEK year-over-year; H1 revenue reached 131.5 MSEK (126.4 MSEK prior year).

• Q2 operating loss improved to -8.9 MSEK from -11.6 MSEK; H1 operating result fell to -19.7 MSEK (4.7 MSEK prior year).

• Net loss after tax for Q2 was -7.0 MSEK (-9.1 MSEK prior year); H1 net loss was -14.7 MSEK (3.8 MSEK prior year).

• EPS for Q2 was -0.32 SEK (-0.41 SEK prior year); H1 EPS was -0.67 SEK (0.18 SEK prior year).

• Cash flow for Q2 was -33.2 MSEK (-9.7 MSEK prior year); H1 cash flow was -11.8 MSEK (-23.9 MSEK prior year).

Outlook and guidance

• Cost reduction measures are underway to improve the operating deficit in coming quarters.

• Liquidity is considered sufficient, assuming successful player sales in current and upcoming transfer windows.