ZO Future Group (2309) H1 2025 earnings summary

Executive summary

• Revenue for the six months ended 31 December 2024 rose 19.6% year-over-year to HK$172.6 million, driven by growth in football club and new energy automobile segments.

• Loss attributable to owners increased 217.4% year-over-year to HK$117.1 million, mainly due to lower broadcasting income, reduced profit on player sales, higher finance costs, and increased operating expenses.

• Basic loss per share was HK14.36 cents, compared to HK4.78 cents in the prior year period.

• The football club was relegated to EFL League One but led the division as of the report date, with management targeting promotion.

• The Group is focused on three segments: football club operations, new energy automobiles, and property investment.

Financial highlights

• Football club segment revenue increased 18.4% year-over-year to HK$145.8 million, despite a 48.2% drop in broadcasting income.

• New energy automobiles and related business revenue surged 128% year-over-year to HK$12.7 million.

• Investment property rental income remained stable at HK$14.1 million.

• Operating expenses rose 36% year-over-year to HK$352.8 million.

• Finance costs more than doubled to HK$47.5 million, up 113.9% year-over-year.

Outlook and guidance

• Management will focus on optimizing existing businesses, especially new energy automobiles, amid global uncertainty.

• The Group aims to accelerate zero-emission vehicle deliveries and expand its presence in Asia Pacific, Middle East, and North America.

• The football club aims for promotion back to the EFL Championship after relegation.