---
title: "\"Performance\" SJM Holdings' adjusted EBITDA for the third quarter fell 15% year-on-year to 880 million"
type: "News"
locale: "zh-HK"
url: "https://longbridge.com/zh-HK/news/265486433.md"
description: "SJM HOLDINGS' adjusted EBITDA for the third quarter fell 15% year-on-year to HKD 881 million, with a net profit of HKD 9 million, down 91.1% year-on-year. Total net revenue decreased by 6.2% year-on-year to HKD 7.034 billion, and gaming net revenue dropped 6.5% to HKD 6.537 billion. In the first nine months of this year, the net loss expanded to HKD 173 million, compared to a loss of HKD 61 million in the same period last year. The group's cash and bank balance stood at HKD 3.448 billion, with debts amounting to HKD 27.312 billion"
datetime: "2025-11-12T09:52:45.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/265486433.md)
  - [en](https://longbridge.com/en/news/265486433.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/265486433.md)
---

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# "Performance" SJM Holdings' adjusted EBITDA for the third quarter fell 15% year-on-year to 880 million

SJM Holdings (00880.HK) reported a net profit of HKD 9 million for the third quarter, a year-on-year decline of 91.1%. Total net revenue decreased by 6.2% year-on-year to HKD 7.034 billion. Gaming net revenue fell by 6.5% year-on-year to HKD 6.537 billion, and adjusted EBITDA dropped by 15% to HKD 888 million; the adjusted EBITDA margin decreased by 1.3 percentage points to 12.5%.

In the first nine months of this year, the group recorded a net loss that widened to HKD 173 million, compared to a loss of HKD 61 million in the same period last year. Total net revenue increased by 1.8% year-on-year to HKD 21.674 billion. Gaming net revenue rose by 1.4% year-on-year to HKD 20.165 billion, while adjusted EBITDA fell by 8.8% to HKD 2.527 billion; the adjusted EBITDA margin decreased by 1.3 percentage points to 11.7%.

As of September 30 this year, the group recorded cash, bank balances, short-term bank deposits, and pledged bank deposits of HKD 3.448 billion, with debts amounting to HKD 27.312 billion.

The group's syndicated loan financing includes HKD 9 billion in term loans and HKD 10 billion in revolving credit, of which HKD 2.7 billion had not been drawn down as of September 30 this year

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