Development of significant operating expenses

Cost of materials

Cost of materials increased by a total of EUR 3,052 thousand to EUR 22,641 thousand.

This figure included the cost of goods sold for both BVB Event & Catering GmbH and BVB Merchandising GmbH. The increase is mainly attributable to the higher cost of materials in catering at BVB Event & Catering GmbH, which corresponds to the increase in catering income as a result of the easing of spectator restrictions. The slight decrease in merchandising income also resulted in a slight decline in cost of materials at BVB Merchandising GmbH.

Personnel expenses

In financial year 2021/2022, personnel expenses amounted to EUR 231,218 thousand (previous year: EUR 215,650 thousand).

Personnel expenses for the professional squad increased by 3.48% year on year to EUR 181,021 thousand in financial year 2021/2022 (previous year: EUR 174,927 thousand). The base salary rose by EUR 10,179 thousand to EUR 120,666 thousand. Performance-based bonuses of EUR 22,222 thousand were paid out to the professional squad in financial year 2021/2022 (previous year: EUR 28,742 thousand) as a result of the successful second-place finish in the Bundesliga (69 points) and for qualifying directly for the group stage of the UEFA Champions League in the 2022/2023 season.

In the reporting period, personnel expenses related to the retail and administration areas increased by EUR 5,616 thousand year on year to EUR 34,941 thousand.

Personnel expenses in relation to amateur and youth football amounted to EUR 15,256 thousand during the current 2021/2022 financial year (previous year: EUR 11,398 thousand). The increase was due to further signings in the youth teams and the second team’s promotion to the third division.

Depreciation, amortisation and write-downs

Depreciation, amortisation and write-downs declined by EUR 1,101 thousand to EUR 109,942 thousand in the reporting period.

During the period from 1 July 2021 to 30 June 2022, intangible assets – which consist primarily of Borussia Dortmund’s player registrations – were amortised in the amount of EUR 96,586 thousand (previous year: EUR 97,440 thousand). This includes EUR 9,090 thousand in write-downs of intangible assets to their fair values (previous year: EUR 4,810 thousand).

Depreciation and write-downs of property, plant and equipment declined from EUR 13,603 thousand to EUR 13,356 thousand.

Other operating expenses

Other operating expenses increased by EUR 16,671 thousand from EUR 85,760 thousand in the previous year to EUR 102,431 thousand in the reporting period.

Expenses from match operations increased by EUR 3,388 thousand to EUR 40,344 thousand (previous year: EUR 36,956 thousand). This is attributable primarily to the higher catering and match day expenses in comparison with the previous year, when just three home matches were played with strict limits on stadium capacity. This season, home matches were attended by an average of roughly 38,000 spectators.

Advertising expenses rose from EUR 1,701 thousand to EUR 12,409 thousand. These included agency commissions payable to marketing firm SPORTFIVE Germany GmbH. The increase correlates directly with the increase in advertising income.

Transfer expenses declined slightly by EUR 110 thousand to EUR 4,094 thousand. These primarily include loan and training compensation.

Administrative expenses increased during the financial year ended by EUR 4,490 thousand to EUR 27,297 thousand. This is due to higher travel and entertainment expenses as a result of increased travel activities, as well as higher insurance expenses. In accordance with the Articles of Association, the general partner of Borussia Dortmund GmbH & Co. KGaA, Borussia Dortmund Geschäftsführungs-GmbH, received, by virtue of the cost and profit allocation in connection with its business activities in the financial year ended, remuneration of EUR 5,981 thousand (previous year: EUR 3,818 thousand) that was also recognised under administrative expenses.

Other expenses increased by EUR 6,665 thousand to EUR 11,264 thousand. This was due primarily to higher losses on the disposal of intangible fixed assets and higher write-downs on receivables.

Financial result

The financial result for financial year 2021/2022 amounted to EUR -4,187 thousand (previous year: EUR -1,059 thousand) and breaks down as follows:

The investment income amounted to EUR 60 thousand (previous year: EUR 81 thousand).

Interest income amounted to EUR 1,137 thousand (previous year: EUR 287 thousand) and related primarily to compounding and restatements relating to subsequent measurement in accordance with IFRS 9.

The interest expense amounted to EUR 5,384 thousand (previous year: EUR 1,427 thousand) and comprised discounting in the context of measuring receivables under IFRS 9 (EUR 4,381 thousand), the interest expense in the context of lease accounting under IFRS 16 (EUR 675 thousand) and financing fees (EUR 328 thousand).

Tax expense

A tax expense of EUR 1,691 thousand (previous year: EUR 342 thousand in tax income) was reported under taxes on income in the reporting period.

3rd match day / 27.08.2021

BVB - Hoffenheim 3:2

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