AIK Fotboll (AIK) Q4 2023 earnings summary

Executive summary

• FY revenue was SEK 240.1M, down SEK 0.5M YoY; operating result swung to a SEK 27.8M loss from SEK 16.7M profit, as a SEK 77.3M operating deficit offset SEK 49.5M transfer net income.

• FY net loss was SEK 21.0M versus net income of SEK 12.8M; Q4 operating and net losses widened to SEK 32.7M and SEK 26.4M.

• The men’s team finished 11th in Allsvenskan and avoided relegation; the women’s team won Elitettan and earned promotion to the top division for 2024.

Financial highlights

• Q4 revenue was SEK 43.0M versus SEK 42.9M; net loss was SEK 26.4M versus SEK 5.4M, and EPS was -SEK 1.21 versus -SEK 0.25.

• Q4 operating loss was SEK 32.7M versus SEK 15.8M; excluding one-offs, the operating deficit was SEK 19.4M versus SEK 15.6M.

• FY EPS was -SEK 0.96 versus SEK 0.58; operating deficit excluding SEK 13.8M of one-time costs was SEK 63.4M versus SEK 17.8M.

• FY personnel costs rose to SEK 128.7M from SEK 105.8M and depreciation to SEK 15.3M from SEK 10.0M, mainly reflecting player-contract investments.

• Q4 one-off costs were SEK 4.1M; FY one-offs of SEK 13.8M included SEK 8.0M in contract-related costs and SEK 5.8M in furlough-support repayment.

Segment performance

• FY transfer net was +SEK 49.5M versus +SEK 40.7M; Q4 transfer net was -SEK 9.2M versus +SEK 2.3M.

• Match and event revenue rose to SEK 69.9M from SEK 67.3M across 15 Allsvenskan home matches and two Swedish Cup group matches.

• Sponsorship and advertising revenue increased to SEK 46.3M from SEK 40.2M; Truecaller became official main partner under a three-year agreement starting in 2023.

• Central agreement revenue fell to SEK 25.1M from SEK 31.2M, while merchandise revenue increased to SEK 26.7M from SEK 25.7M.

• International cup revenue fell to SEK 1.7M from SEK 25.8M; player-transfer revenue rose to SEK 67.5M from SEK 47.0M.