Development and performance of the business

As at 30 June 2022, total assets amount to EUR 455,055 thousand, representing an increase of EUR 4,536 thousand as compared to 30 June 2021.

Non-current assets decreased by EUR 31,363 thousand to EUR 358,440 thousand as follows:

The EUR 69,036 thousand decrease in intangible assets is due to disposals and reclassifications of non-current intangible assets to assets held for sale (EUR 47,066 thousand) and amortisation and write-downs (EUR 87,496 thousand). This was partly offset by additions of EUR 65,526 thousand that related in their entirety to the player base.

Additions of EUR 2,473 thousand were made to property, plant and equipment. The additions were offset by EUR 118 thousand in disposals and EUR 13,356 thousand in depreciation. The additions were attributable mainly to the investments to expand the training ground and in the stadium.

Trade receivables and other financial receivables increased by EUR 65,048 thousand to EUR 105,376 thousand as at the end of the reporting period. This was due primarily to the increase in transfer receivables, in particular from transferring player Jadon Sancho to Manchester United.

Cash and cash and cash equivalents amounted to EUR 10,571 thousand as at the end of the reporting period (previous year: EUR 1,725 thousand).

Assets held for sale rose by EUR 14,573 thousand to EUR 24,029 thousand (previous year: EUR 9,456 thousand). The EUR 33,119 thousand in reclassifications to assets held for sale were partly offset by disposals of EUR 9,456 thousand and write-downs of EUR 9,090 thousand, which were recognised under depreciation and amortisation.

Inventories declined by EUR 2,390 thousand from EUR 6,806 thousand in the previous year to EUR 4,416 thousand.

Prepaid expenses decreased by EUR 1,730 thousand to EUR 13,072 thousand (previous year: EUR 14,802 thousand). This was due in particular to the deduction of payments to be accrued in the context of player loans.

As at 30 June 2022, Borussia Dortmund’s equity amounted to EUR 280,501 thousand. This corresponds to an equity ratio of 61.64% (previous year: 51.64%). The issue of 18,396,220 new no-par value ordinary bearer shares of the Company increased the subscribed capital by EUR 18,396 thousand to EUR 110,396 thousand and the capital reserves (recognised under reserves) by EUR 64,527 thousand (after deducting directly attributable costs). The reserves were reduced by the net loss for the year of EUR 35,059 thousand.

Changes in current and non-current liabilities were as follows:

Borussia Dortmund reported liabilities of EUR 174,554 thousand as at 30 June 2022 (previous year: EUR 217,882). This represents a decrease of EUR 43,328 thousand.

Changes in total current and non-current liabilities were as follows:

Lease liabilities decreased from EUR 21,060 thousand to EUR 17,179 thousand in the reporting period. The repayments of lease liabilities of EUR 4,423 thousand were partly offset by expansion of the vehicle fleet (EUR 543 thousand).

Non-current trade payables declined by EUR 7,696 thousand to EUR 29,554 thousand, due in particular to the lower non-current liabilities from transfer deals. Current trade payables increased by EUR 4,875 thousand to EUR 68,978 thousand.

Other financial liabilities rose by EUR 7,789 thousand to EUR 38,898 thousand as at the end of the reporting period. This was due in particular to the increase in payroll tax and VAT not yet due, fees collected on behalf of third parties in connection with the sale of season tickets, and liabilities to the general partner. This was offset by the payment of residual credits to season ticket holders for the 2019/2020 season.

Tax liabilities decreased to EUR 4 thousand (previous year: EUR 40 thousand).

Deferred income increased by EUR 14,854 thousand to EUR 19,941 (previous year: EUR 5,087 thousand). This increase is due primarily to payments from the sale of season tickets, which had been suspended in the previous two financial years due to the COVID-19 pandemic.

Borussia Dortmund did not recognise any liabilities to banks as at the end of the reporting period. The current financial liabilities amounting to EUR 56,900 thousand that had been reported as at 30 June 2021 were fully repaid to EUR 0 thousand in the first half of the current financial year using the proceeds from the capital increase.

Provisions amounted to EUR 0 thousand as at 30 June 2022. Provisions of EUR 2,333 thousand had been recognised in the previous year for litigation and liability risks relating to legal proceedings.