S.L. Benfica reported a net profit of €29 million for the first half of the 2025/26 season, according to the club’s individual accounts released today. The result is lower than the €34.6 million recorded in the same period of the previous year.
The club attributed the variation mainly to accounting factors, including the equity method used to incorporate results from its football company (SAD), lower impact from the transfer of women’s football operations, and costs related to internal elections.
Excluding these effects, Benfica said its operational result rose slightly to €6.7 million, compared with €6.3 million a year earlier, driven by increased revenues. Membership fees reached €12.4 million (+12%), while merchandising generated €11.5 million (+5%). However, brand royalties fell 9% due to lower contributions from the club’s football operations.
Operating costs also increased slightly to €30 million. The club highlighted the financial impact of its elections for the 2025–2029 governing term, won by president Rui Costa.
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On the balance sheet, assets rose significantly to €122.6 million, while equity increased sharply to €37.3 million, reflecting stronger financial stability compared to the same period last year.
In consolidated accounts, Benfica posted a net profit of €44.6 million, strongly influenced by player transfer activity, which alone contributed €54.6 million in operating results.
The club emphasized that, excluding transfer income, its underlying operational result would have been slightly negative, underlining the continued reliance on player trading for profitability.
