Cost of materials
Cost of materials increased by a total of EUR 1,471 thousand to EUR 24,112 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 return to normal match operations. Despite higher income from merchandising, the cost of materials at BVB Merchandising GmbH declined slightly.
Personnel expenses
In financial year 2022/2023, personnel expenses amounted to EUR 236,223 thousand (previous year: EUR 231,218 thousand).
Personnel expenses for the professional squad increased moderately by 2.23% year on year to EUR 185,066 thousand in financial year 2022/2023 (previous year: EUR 181,021 thousand). The base salary rose by EUR 8,482 thousand to EUR 129,148 thousand. Performance-based bonuses of EUR 25,449 thousand were paid out to the professional squad in financial year 2022/2023 (previous year: EUR 22,222 thousand) as a result of the successful second-place finish in the Bundesliga (71 points) and thereby for qualifying directly for the group stage of the UEFA Champions League in the 2023/2024 season, and for reaching the round of 16 of the UEFA Champions League and the quarter-finals of the DFB Cup in the 2022/2023 season.
In the reporting period, personnel expenses related to the retail and administration areas increased by EUR 1,412 thousand year on year to EUR 36,353 thousand.
Personnel expenses in relation to amateur and youth football amounted to EUR 14,804 thousand during the 2022/2023 financial year (previous year: EUR 15,256 thousand).
Depreciation, amortisation and write-downs
Depreciation, amortisation and write-downs declined by EUR 3,527 thousand to EUR 106,309 thousand in the reporting period. This is attributable primarily to intangible assets and property, plant and equipment.
During the period from 1 July 2022 to 30 June 2023, intangible assets – which consist primarily of the Borussia Dortmund Group’s player registrations – were amortised in the amount of EUR 93,096 thousand (previous year: EUR 96,480 thousand). This includes EUR 3,357 thousand in write-downs of intangible assets to their fair values (previous year: EUR 9,090 thousand).
Depreciation and write-downs of property, plant and equipment declined from EUR 13,356 thousand to EUR 12,953 thousand.
Other operating expenses
Other operating expenses increased by EUR 11,602 thousand from EUR 102,431 thousand in the previous year to EUR 114,033 thousand in the reporting period.
Expenses from match operations increased by EUR 13,127 thousand to EUR 53,471 thousand (previous year: EUR 40,344 thousand). This is attributable primarily to the higher catering and match day expenses in comparison with the previous year, when only an average of roughly 38,000 spectators could attend home matches. The lifting of COVID-19 restrictions in this season meant that all home matches were once again virtually sold out.
Despite higher advertising income, the Borussia Dortmund Group’s advertising expenses, which include agency commissions payable to marketing firm SPORTFIVE Germany GmbH, declined by EUR 1,167 thousand to EUR 11,242 thousand.
Transfer expenses declined by EUR 2,928 thousand from EUR 4,094 thousand in the previous year to EUR 1,166 thousand. This is due in particular to lower expenses for players on loan.
Administrative expenses increased during the financial year ended by EUR 6,624 thousand to EUR 33,921 thousand. This is due to higher travel and entertainment expenses as a result of increased travel activities, in particular in connection with the senior team’s tour of Asia in winter 2022, as well as higher insurance expenses and energy costs.
Other expenses decreased by EUR 3,452 thousand to EUR 7,812 thousand. This is due primarily to lower losses from the disposal of intangible assets.
Financial result
The financial result for financial year 2022/2023 amounted to EUR -6,131 thousand (previous year: EUR -4,187 thousand) and breaks down as follows:
The investment income amounted to EUR 15 thousand (previous year: EUR 60 thousand).
Interest income amounted to EUR 3,558 thousand (previous year: EUR 1,137 thousand) and related to compounding and discounting in the context of measuring transfer receivables and liabilities in accordance with IFRS 9.
The interest expense amounted to EUR 9,704 thousand (previous year: EUR 5,384 thousand) and related mainly to compounding and discounting in the context of measuring transfer receivables and liabilities under IFRS 9 (EUR 8,076 thousand), the interest expense in the context of lease accounting under IFRS 16, and financing fees.
Tax expense
A tax expense of EUR 1,230 thousand (previous year: tax expense of EUR 1,691 thousand) was reported under taxes on income in the reporting period.