S.S. Lazio (SSL) H2 2025 earnings summary

Executive summary

• Revenue for the year ended June 30, 2025, was €143.49 million, down €49.74 million year-over-year, mainly due to lower European competition income.

• Net loss of €17.16 million compared to a net profit of €38.50 million in the previous year.

• Operating costs decreased by €18.77 million, primarily from lower personnel expenses.

• UEFA license obtained for 2025/26; admitted to Serie A for both men's and women's teams.

Financial highlights

• EBITDA fell to €8.16 million from €39.51 million year-over-year.

• Operating income before taxes was a loss of €20.98 million, down from a profit of €40.72 million.

• Total operating costs (excluding D&A) were €134.71 million, down from €153.48 million.

• Personnel costs dropped to €97.93 million from €116.38 million.

• Net financial debt increased to €66.30 million from €38.12 million.

Outlook and guidance

• Inability to acquire new player rights in the summer transfer window due to regulatory non-compliance.

• Management expects a return to economic and financial equilibrium in the short-to-medium term through asset valorization, new sponsorships, and international competition participation.