SJM (880) Q2 2026 earnings summary

Executive summary

• Net revenue for the six months ended 30 June 2026 was HK$11,590 million, down 20.8% year-over-year, mainly due to a decline in gaming revenue.

• Adjusted EBITDA rose 3.3% to HK$1,701 million, with margin improving to 14.7% from 11.2% year-over-year.

• Loss attributable to owners increased to HK$295 million from HK$182 million, with loss per share at HK(4.1) cents.

• No interim dividend was declared for the period.

Financial highlights

• Net gaming revenue dropped 22.5% year-over-year to HK$10,560 million.

• Total group net revenue decreased 20.8% to HK$11,590 million.

• Adjusted EBITDA margin improved by 3.5 percentage points to 14.7%.

• Loss attributable to owners rose 61.7% to HK$295 million.

• Cash and equivalents stood at HK$3,486 million, with total debt at HK$30,217 million as of 30 June 2026.

Outlook and guidance

• Focus on converting revenue growth into sustainable earnings through cost management and operational efficiency.

• Ongoing portfolio enhancement and product offering upgrades expected to support profitability and long-term value.