Juventus Football Club (JUVE) H2 2025 earnings summary

Executive summary

• Consolidated loss for the year ended 30 June 2025 was €58.1 million, a significant reduction from €199.2 million the previous year, mainly due to the Men's First Team's return to UEFA Champions League and higher revenues from players' registration rights.

• Operating profit (loss) reached near break-even, net of non-recurring items, with adjusted operating loss at €5.4 million versus €139.5 million the prior year.

• Strategic Plan estimates for 2025/2026 and 2026/2027 were updated, confirming improved results and cash flow, though less pronounced than originally forecast.

• A capital increase of up to €110 million is proposed, with €30 million already paid in by Exor, to strengthen the equity structure and support the Strategic Plan.

Financial highlights

• Revenue and income rose 34.2% year-over-year to €529.6 million, driven by UEFA and FIFA competition participation and increased player registration rights income.

• Operating costs increased slightly by 1.4% to €405.7 million, with non-recurring costs of €16.7 million.

• Net financial debt after IFRS 16 rose to €280.2 million, up €37.4 million from the previous year.

• Equity at 30 June 2025 stood at €13.2 million, down from €40.2 million a year earlier.

• Net capital gains from player disposals totaled €89.7 million.

Outlook and guidance

• Result and cash flow for 2025/2026 are expected to show limited improvement, with break-even targeted for 2026/2027, assuming sports performance aligns with the Strategic Plan and no non-recurring events.

• Economic performance is expected to be better in the first half of the year due to seasonality.