Annual Report 2022/2023

(26) Credit risk

The carrying amounts of the following financial instruments reflect the Group’s maximum exposure to credit risk. At the end of the reporting period, the maximum exposure was as follows:

Carrying amounts of financial instruments

EUR '000

 

30/06/2023

 

30/06/2022

 

 

 

 

 

Financial assets, receivables and other financial receivables

 

125,563

 

105,734

Cash and cash equivalents

 

4,496

 

10,571

The change in loss allowances on the basis of the expected credit losses for trade receivables as at 30 June 2023 is presented in the table below:

EUR '000

 

2022/2023

 

2021/2022

 

 

 

 

 

Loss allowances as at 1 July 2022 in accordance with IFRS 9

 

2,417

 

1,182

Transfers recognised in profit or loss

 

2,191

 

1,448

Reversals recognised in profit or loss

 

-1,297

 

-255

Items recognised outside profit or loss

 

-374

 

-116

Loss allowances in accordance with IFRS 9

 

-32

 

158

Loss allowances as at 30 June 2023 in accordance with
IFRS 9

 

2,905

 

2,417

The loss allowances recognised related almost exclusively to trade receivables.

The maturities of trade receivables, including other financial receivables, as at the end of the reporting period were as follows:

Maturity analysis of receivables

EUR '000

 

30/06/2023

 

30/06/2022

 

 

 

 

 

Not yet due

 

122,607

 

102,341

 

 

 

 

 

Less than 30 days past due

 

1,979

 

2,633

Between 30 and 89 days past due

 

894

 

358

More than 90 days past due

 

0

 

44

 

 

125,480

 

105,376

Cash and cash equivalents relate to bank balances and short-term investments in the form of overnight and time deposits. Borussia Dortmund only deposits money at banks with investment grade ratings. Furthermore, the creditworthiness of the banks is regularly monitored on the basis of credit default swaps (CDS).

Due to the short investment term and the creditworthiness of the banks, cash and cash equivalents are subject to a low level of credit risk. Thus, as in the previous year, no material loss allowances had been recognised.

The table below contains information on the credit risk and the expected credit losses according to the classes of receivables defined by Borussia Dortmund as at 30 June 2023:

30 June 2023

EUR '000

 

Gross carrying amount

 

Default
rate (%)

 

Expected credit losses

 

 

 

 

 

 

 

Receivables from transfer deals

 

23,470

 

0.35

 

82

Other trade receivables

 

18,542

 

0.35

 

65

Total

 

42,012

 

 

 

147

30 June 2022

EUR '000

 

Gross carrying amount

 

Default
rate (%)

 

Expected credit losses

 

 

 

 

 

 

 

Receivables from transfer deals

 

39,399

 

0.35

 

138

Other trade receivables

 

11,140

 

0.35

 

39

Total

 

50,539

 

 

 

177

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