Q2 Revenue at GBP 190.3M, Down from Last Year
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 5 days ago
0mins
Should l Buy MANU?
Reports Q2 revenue GBP 190.3M vs. GBP 198.7M last year. Omar Berrada, CEO, commented, "We are now seeing the positive financial impact of our off-pitch transformation materialise both in our costs and profitability. We continue to take a football first approach and invest in both our men's and women's first teams. On the pitch our men's team sits 4th in the Premier League and our women's team are 2nd in the Women's Super League, as well as reaching the League Cup Final and the quarter final of the UEFA Women's Champions League. Today's results demonstrate the underlying strength of our business as we continue to push for the best football results possible for our Men's and Women's teams."
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Analyst Views on MANU
About MANU
Manchester United plc and its subsidiaries are a men’s and women’s professional football club together with related and ancillary activities. It generates revenue from multiple sources, including Commercial, Broadcasting and Matchday. Within the Commercial sector, it monetizes its global brand via two revenue streams: sponsorship and retail, merchandising, apparel, and product licensing. It benefits from the distribution of live football content directly from the revenue it receives and indirectly through increased global exposure to its commercial partners. Its broadcasting revenue is derived from the television rights relating to the Premier League, UEFA club competitions and other competitions. In addition, its wholly owned global television channel, MUTV, delivers Manchester United programming to territories around the world. Matchday operates Old Trafford, a football club stadium with over 74,197 seats, inclusive of accessible platforms accommodating 556 disabled supporters.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Profitability Improvement: Despite the sales decline, the club achieved an operating profit of £19.6 million, up from £3.1 million in the same quarter last year, with adjusted EBITDA rising 7.8% to £76.0 million, reflecting effective cost control measures.
- Reduced Financial Costs: Net finance costs decreased to £13.9 million from £37.6 million a year earlier, primarily due to the absence of significant unrealized foreign exchange losses on unhedged U.S. dollar borrowings, which had adversely affected the previous year's results.
- Future Outlook: Manchester United reiterated its revenue guidance for fiscal 2026 between £640 million and £660 million, compared to analysts' expectations of £654.67 million, demonstrating confidence in future revenue while maintaining adjusted EBITDA guidance in the range of £180 million to £200 million.
See More
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- Future Guidance: The club reiterates its revenue guidance for Fiscal 2026 at £640 million to £660 million and adjusted EBITDA guidance at £180 million to £200 million, demonstrating management's confidence in future performance despite market pressures.
- Historical Context: As a historically significant club, Manchester United faces current commercial challenges, yet its brand value and market influence remain strong, with potential for growth recovery through strategic adjustments.
See More
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- Historical Performance Review: Over the past year, Manchester United has beaten EPS estimates 50% of the time and revenue estimates 75% of the time, reflecting a degree of stability and market confidence in the company's financial results.
- Expectation Adjustment Dynamics: In the last three months, EPS estimates have seen no upward revisions and one downward revision, while revenue estimates have experienced one upward and one downward revision, indicating analysts' cautious stance on Manchester United's future performance.
- Management Change: Manchester United recently appointed Michael Carrick as the club's interim manager, a personnel change that could impact team performance and financial results, potentially influencing the upcoming earnings report.
See More
