Eagle Football Group (EFG) Q4 2025 TU earnings summary

Executive summary

• Total revenue for FY 2025/2026 was €223.3M, down 18% year-over-year, mainly due to lower Ligue 1 TV rights, fewer major events, and reduced player trading revenue.

• Ticketing revenue increased by 5% to €45.0M, driven by a change in accounting for hospitality revenue.

• The club finished 4th in Ligue 1 and will compete in the Champions League qualifying rounds.

Financial highlights

• Ligue 1 TV rights revenue dropped 28% to €16.4M after the early termination of the DAZN/LFP contract.

• Revenue from player registrations fell 29% to €79.2M, with notable transfers including Afonso Moreira and Georges Mikautadze.

• Sponsoring and advertising revenue declined 5% to €29.2M, impacted by accounting changes and payment issues.

• Brand-related revenue reached €23.6M, with derivative product sales at an all-time high.

• Events revenue decreased 58% to €7.9M due to a less extensive schedule compared to the previous year.

Outlook and guidance

• The acquisition by Michele Kang and new financing aim to ensure financial stability and support revenue growth strategies.

• The club is guaranteed at least a Europa League spot for 2026/2027.

• A mandatory tender offer for remaining shares will be filed with the AMF.