Manchester United (NYSE:MANU) on Wednesday revealed its sixth straight annual net loss, coupled with expectations of lower revenue in the current fiscal year, sending shares tumbling nearly 8% in premarket trading.
The Premier League club reported a net loss of £33 million ($45 million) for the year ending June 30, an improvement from the £113.2 million deficit recorded in the previous year. Fourth-quarter revenue rose 15.4% year-over-year to £164.1 million, bringing full-year fiscal 2025 revenues to a record £666.5 million.
Commercial revenue for the quarter reached £88.2 million, contributing to an all-time high of £333.3 million for the year. Adjusted EBITDA for fiscal 2025 totaled £182.8 million, while the operating loss narrowed to £18.4 million from £69.3 million a year earlier. Adjusted basic loss per share for the quarter stood at 3.16 pence, improving from a 15.79 pence loss in the prior-year period.
“As we settle into the 2025/26 season, we are working hard to improve the club in all areas,” said Omar Berrada, CEO of Manchester United. “Our commercial business remains strong as we continue to deliver appealing products and experiences for our fans, and best-in-class value to our partners.”
Looking ahead, Manchester United expects fiscal 2026 revenues to range between £640 million and £660 million, slightly below the £666.5 million reported for the year ended June 30. Adjusted EBITDA for the upcoming fiscal year is projected at £180 million to £200 million.
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