Brøndbyernes IF Fodbold (BIF) H2 23/24 earnings summary

Executive summary

• Report covers an 18-month period from 1 January 2023 to 30 June 2024 due to a change in fiscal year alignment with the football season.

• Net loss before tax was DKK -104.2 million, within the latest guidance range.

• Ownership changes included Global Football Holdings L.P. acquiring 50% of shares and a new board was elected.

• Brøndby Women was integrated into the company, and record attendance and season ticket sales were achieved.

Financial highlights

• Revenue increased 54.4% year-over-year to DKK 341.4 million, mainly due to the extended reporting period.

• Operating expenses rose to DKK 450.9 million, up from DKK 267.3 million, reflecting higher activity and personnel costs.

• Result before transfer and financial items was DKK -101.8 million, compared to DKK -43.8 million in 2022.

• Net transfer activities contributed DKK 8.9 million, down from DKK 32.0 million in 2022.

• Cash flow from operations was DKK -86.0 million; financing activities provided DKK 178.5 million, mainly from a convertible loan.

Outlook and guidance

• Expected pre-tax result for 2024/25 is between DKK -100 million and DKK -60 million, reflecting continued investment in the squad and no European group stage qualification.

• Result guidance is subject to uncertainty, especially regarding sporting performance and transfer market activity.