The Welsh Rugby Union Group has published its Annual Report [ www.wru.wales/legal/ ] announcing an increased turnover of £106.1m (2024: £102.7m) for the year ended 30 June 2025.
The Group’s underlying financial performance showed an improvement compared to 2024. To compare the two years, the consolidation of Dragons in 2024 and Cardiff rugby for 2025 need to be excluded. This enables a comparison of continuing operations with an EBITDA of £35.2m (excluding Cardiff losses of £2.4m) (2024: £27.6m) an increase of 28%.
This results in a reduced operating loss of £0.8m for continuing operations (£4.7m less the Cardiff loss and some exceptional costs) compared to an £8.8m loss in 2024.
An improved commercial performance, which includes a £4.4m increase in match and events income meant investment in the professional game, including men’s and women’s performance pathways, Super Rygbi Cymru and the regional clubs was £45.4m (2024: £48.4m this was higher because it was a Rugby World Cup year).
Direct payments to the community game remained steady at £3.3m, with a commitment already having been made to increase this to £3.6m next year, rising to £4.4m by 2030. Total funding for community rugby amounted to £9.6m.
A total of 62% of the Group’s income was derived from staging international matches featuring senior Welsh teams and the commercial activities associated with these teams.
Group overheads reduced by £1.4m to £46.2m (2024: £47.6m) driven by increased focus on costs which has helped to offset continued inflationary pressure.
“Improved results have been achieved due to continued efforts to reduce our costs and an improving commercial performance across the business,” said WRU chair Richard Collier-Keywood.
“This year was the start of a financial turnaround. All of the money generated by the WRU goes into Welsh rugby across all levels of the game and we have had a relentless focus on improving our commercial performance.
“Our results for the year ended 30 June 2025, have seen a significant improvement in EBITDA to £32.8m, £35.2m excluding Cardiff Rugby, so our underlying performance is up 28% in just one year.
“This has given us the confidence to announce an increased investment in both our community clubs and elite Welsh rugby of in excess of £40m over the next five years to increase participation and improve our performance on the pitch.”
WRU Group CEO Abi Tierney added: “Over the past year, we have built a strong executive leadership team. Our financial and commercial performance has improved significantly.
“While there is still a long way to go to unlock the full potential of Welsh rugby, we can say with humility and confidence that we have turned an important corner.
“We have worked hard to remove unnecessary costs and to concentrate on the WRU’s real commercial potential
“These decisions were not always easy, but they were taken with a strong sense of responsibility – to our communities, to our regions, and to the cultural heartbeat of rugby in Wales.
“We delivered a 28% increase in EBITDA pre-distributions, excluding Cardiff Rugby, and achieved record income, with more growth forecast next year.
“These improvements were driven by careful stewardship, sharper financial management, and exceptional commercial performance – supported by a record-breaking summer at Principality Stadium, including the first Oasis reunion concerts and a 21,000-strong record crowd for our women’s Guinness Six Nations match against England – the biggest audience for a women’s sporting event in Wales.
“Through this approach, we ensured investment into our professional teams and community game was protected: distributions to our regional clubs is planned to grow by seven per cent, per annum, over the next five years.
“Our financial turnaround is tangible. Group operating loss, excluding Cardiff Rugby and non-recurring exceptional costs, has reduced from £8.8m in 2024 to £0.8m this financial year.
“We have reduced our cost base responsibly, for the first time in several years, we can look ahead with confidence and invest in the long-term future of Welsh rugby.”