Development of significant operating expenses

Cost of materials

Cost of materials decreased by EUR 2,803 thousand to EUR 19,589 thousand.

This figure included the cost of goods sold for both BVB Event & Catering GmbH and BVB Merchandising GmbH. The decline is due mainly to BVB Merchandising GmbH’s decrease in revenue. BVB Event & Catering GmbH’s cost of materials likewise continued to decline due to the prohibition on events imposed during the pandemic.

Personnel expenses

In financial year 2020/2021, personnel expenses amounted to EUR 215,650 thousand (previous year: EUR 215,157 thousand).

Personnel expenses for the professional squad increased by 1.07% year on year. The base salary rose by EUR 2,472 thousand. Performance-based bonuses amounted to EUR 28,742 thousand (previous year: EUR 29,363 thousand) and comprised annual bonuses and performance-based bonuses for winning the DFB Cup, for finishing third place in the Bundesliga with 64 points, for reaching the quarter-finals of the UEFA Champions League and for qualifying directly for the group stage of the 2021/2022 UEFA Champions League.

In the reporting period, personnel expenses related to the retail and administration areas decreased by EUR 612 thousand year on year to EUR 29,325 thousand.

Personnel expenses in relation to amateur and youth football amounted to EUR 11,398 thousand during the current 2020/2021 financial year (previous year: EUR 12,144 thousand).

Depreciation, amortisation and write-downs

Depreciation, amortisation and write-downs rose by EUR 4,913 thousand to EUR 111,043 thousand in the reporting period.

During the period from 1 July 2020 to 30 June 2021, intangible assets – which consist primarily of Borussia Dortmund’s player registrations – were amortised in the amount of EUR 97,440 thousand (previous year: EUR 88,285 thousand).

Furthermore, EUR 4,810 thousand in write-downs of intangible assets to their fair values were recorded (previous year: EUR 3,903 thousand).

Depreciation and write-downs of property, plant and equipment declined from EUR 13,942 thousand to EUR 13,603 thousand.

Other operating expenses

Other operating expenses decreased by EUR 33,250 thousand from EUR 119,010 thousand in the previous year to EUR 85,760 thousand in the reporting period.

Expenses from match operations decreased by EUR 10,255 thousand to EUR 36,956 thousand (previous year: EUR 47,211 thousand). This was due mainly to lower catering and match day expenses, as only three home matches were played for the 2020/2021 season, with severely restricted stadium capacity.

Advertising expenses decreased by EUR 16,281 thousand. Despite the increase in advertising income, the newly signed agency licensing agreement with the marketing firm SPORTFIVE Germany GmbH made it possible to significantly reduce the agency commission payable.

Transfer expenses declined by EUR 450 thousand to EUR 4,204 thousand. These expenses primarily include loan and training compensation.

Administrative expenses decreased during the financial year ended by EUR 2,545 thousand to EUR 22,807 thousand. A slight increase in IT expenses was offset by significantly lower travel, representation and event expenses.

Other expenses decreased by EUR 3,742 thousand to EUR 4,599 thousand. This reduction was caused mainly by lower allowances on receivables and lower losses on disposals of fixed assets as well as lower expenses for office supplies.

Financial result

The financial result for financial year 2020/2021 amounted to EUR -1,059 thousand (previous year: EUR -3,445 thousand) and breaks down as follows:

The investment income amounted to EUR 81 thousand (previous year: EUR -1 thousand).

Interest income amounted to EUR 287 thousand (previous year: EUR 287 thousand) and related primarily to compounding and restatements relating to subsequent measurement in accordance with IFRS 9.

Interest expenses amounted to EUR 1,427 thousand (previous year: EUR 3,731 thousand) and comprised mainly financing charges of EUR 559 thousand and EUR 772 thousand in restatements connected with remeasurements in accordance with IFRS 16.

Tax expense

EUR 342 thousand in tax income (previous year: tax income of EUR 2,630 thousand) was reported under taxes on income in the financial year. This related primarily to trade tax reimbursements received. In the previous year, this item included gains on the recognition of unutilised loss carryforwards.

6th match day / 31.10.2020

Arminia Bielefeld - BVB 0:2

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