Juventus Football Club (JUVE) H2 2026 earnings summary

Executive summary

• Consolidated loss for 2025/2026 was €66.0 million, up €7.9 million year-over-year, mainly due to lower sports performance and non-recurring expenses.

• Revenue and income fell by €54.9 million, driven by lower player registration rights and broadcasting revenues, partially offset by higher sponsorship and advertising income.

• Operating costs decreased by €42.1 million due to cost rationalisation, especially in player acquisitions and staff costs.

• Net financial debt increased to €331.1 million, up €50.9 million from the prior year, mainly due to transfer campaign outflows and investments in assets.

• A €250 million capital increase is proposed to strengthen equity and support strategic objectives.

Financial highlights

• Revenues and income: €474.7 million (down 10.4% year-over-year).

• Operating revenue: €416.9 million (down 0.7% year-over-year).

• Operating loss: €39.4 million (vs. €29.9 million loss prior year).

• Adjusted operating loss: €18.6 million (vs. €5.4 million loss prior year).

• Net financial debt after IFRS 16: €331.1 million (up 18.2% year-over-year).

• Shareholders’ equity: €21.5 million (down 12.1% year-over-year).

Outlook and guidance

• 2026/2027 is expected to record another loss due to non-qualification for the UEFA Champions League.

• Progressive improvement anticipated in 2027/2028 and 2028/2029 if sporting performance returns to historical averages.

• Significant improvement in financial performance expected from 2027/2028 with Champions League participation.