Annual Report 2023/2024

Changes in significant operating expenses

Cost of materials

Cost of materials increased by a total of EUR 8,600 thousand to EUR 32,712 thousand (previous year: EUR 24,112 thousand).

This item consisted of the cost of goods sold for BVB Event & Catering GmbH (EUR 9,096 thousand; previous year: EUR 6,896 thousand) and BVB Merchandising GmbH (EUR 23,616 thousand; previous year: EUR 17,216 thousand). The increased cost of materials was directly related to the higher catering and merchandising income, respectively.

Personnel expenses

Personnel expenses increased by EUR 32,283 thousand to EUR 268,506 thousand in financial year 2023/2024 (previous year: EUR 236,223 thousand).

Personnel expenses for the professional squad increased by EUR 23,348 thousand year on year to EUR 208,414 thousand in financial year 2023/2024 (previous year: EUR 185,066 thousand).

Whereas the base salary decreased by EUR 3,583 thousand to EUR 125,565 thousand (previous year: EUR 129,148 thousand), special payments and bonuses increased. Performance-based bonuses of EUR 33,432 thousand were paid out to the professional squad in financial year 2023/2024 (previous year: EUR 25,449 thousand) as a result of the fifth-place finish in the Bundesliga (63 points; previous year: second-place finish with 71 points) and thereby for qualifying directly for the league phase of the UEFA Champions League in the 2024/2025 season, and for reaching the final (previous year: round of 16) of the UEFA Champions League and the round of 16 (previous year: quarter-finals) of the DFB Cup in the 2023/2024 season. The decline in performance-based bonuses for the national competitions is offset by the rise in bonuses for reaching the Champions League final.

In the reporting period, personnel expenses related to retail and administration areas increased by EUR 7,606 thousand to EUR 43,959 thousand (previous year: EUR 36,353 thousand) due to the higher average number of employees and inflation-related salary adjustments, including one-off payments.

Personnel expenses in relation to amateur and youth football amounted to EUR 16,133 thousand during the 2023/2024 financial year (previous year: EUR 14,804 thousand).

Depreciation, amortisation and write-downs

Depreciation, amortisation and write-downs declined by EUR 1,977 thousand to EUR 104,333 thousand in the reporting period (previous year: EUR 106,309 thousand). This is attributable to intangible assets and property, plant and equipment.

During the period from 1 July 2023 to 30 June 2024, intangible assets – which consist primarily of the Borussia Dortmund Group’s player registrations – were amortised in the amount of EUR 92,069 thousand (previous year: EUR 93,096 thousand). This includes EUR 9,986 thousand in write-downs of intangible assets to their fair values (previous year: EUR 3,357 thousand).

Depreciation and write-downs of property, plant and equipment declined by EUR 689 thousand to EUR 12,264 thousand (previous year: EUR 12,953 thousand).

Other operating expenses

Other operating expenses increased by EUR 52,712 thousand from EUR 114,033 thousand in the previous year to EUR 166,745 thousand in the reporting period.

Expenses for match operations rose by EUR 21,674 thousand to EUR 75,145 thousand (previous year: EUR 53,471 thousand). This is attributable primarily to the increase in catering and match day expenses stemming from the fact that there were three more competitive home matches than in the previous year, higher football association dues on account of the new agreement entered into between DFB and DFL which sets out the rights and duties of the two organisations, and the rise in travel expenses due to increased travel.

Advertising expenses, which also include agency commissions payable to marketing firm SPORTFIVE Germany GmbH, increased year on year – in line with the rise in advertising income – by EUR 2,277 thousand to EUR 13,519 thousand (previous year: EUR 11,242 thousand).

Transfer expenses increased by EUR 6,978 thousand from EUR 1,166 thousand in the previous year to EUR 8,144 thousand. This is attributable primarily to higher expenses for players on loan in relation to Jadon Sancho and Ian Maatsen.

Administrative expenses increased in the financial year ended by EUR 18,429 thousand to EUR 52,350 thousand (previous year: EUR 33,921 thousand). The increase is due mainly to higher travel and representation expenses, particularly in connection with the USA tour in the summer of 2023, higher IT costs and higher performance-based remuneration for the general partner.

Other expenses rose by EUR 1,141 thousand to EUR 8,953 thousand (previous year: EUR 7,812 thousand).

Financial result

The financial result for financial year 2023/2024 amounted to EUR 2,720 thousand (previous year: EUR -6,131 thousand) and breaks down as follows:

The investment income amounted to EUR 21 thousand (previous year: EUR 15 thousand).

Interest income amounted to EUR 7,904 thousand (previous year: EUR 3,558 thousand) and related primarily to compounding and discounting in the context of measuring transfer receivables and liabilities in accordance with IFRS 9.

The interest expense amounted to EUR 5,205 thousand (previous year: EUR 9,704 thousand) and related mainly to compounding and discounting in the context of measuring transfer receivables and liabilities under IFRS 9 (EUR 3,929 thousand; previous year: 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 4,339 thousand (previous year: tax expense of EUR 1,230 thousand) was reported under taxes on income in the reporting period.

18th match day / 20.01.2024

1. FC Köln - BVB 0:4

Sporting Highlights