Introductory remarks

Hans-Joachim Watzke
Managing Director (Chairman)

Thomas Treß
Managing Director

Carsten Cramer
Managing Director

Lars Ricken
Managing Director

Dear Shareholders,

Financial year 2024/2025 was a year full of emotions, challenges and significant milestones – both on and off the pitch.

The Bundesliga season was a veritable roller-coaster ride. Although not everything went according to plan, our team displayed character, fighting spirit and solidarity. By qualifying for the UEFA Champions League on the final match day, the team poured oil on troubled waters and ended what until then had been a mediocre season on a positive note.

We demonstrated our strength on the international stage in impressive fashion. The team gave everything it had, playing elite-level football to reach the quarter-finals of the Champions League. We also represented Europe well at the FIFA Club World Cup, demonstrating that Borussia Dortmund is a global powerhouse.

We are particularly pleased with the promotion of our women’s team, which showed grit and determination and put in impressive performances to take the next step as they continue to make a name for themselves. This success underpins our long-term goal of promoting and establishing women’s football in Dortmund.

In economic terms, it was a satisfactory financial year. We generated record revenue of EUR 526 million, exceeding the EUR 500 million mark for the second year in a row, demonstrating in no uncertain terms Borussia Dortmund’s economic stability and appeal. We are particularly pleased that we were able to distribute a dividend again after many years and plan to continue paying dividends in the future.

Sustainability will also continue to guide our actions going forward. By installing new solar panels on the roof of our stadium, we will generate more green electricity than we consume during our home matches. This clearly demonstrates our environmental responsibility and represents a milestone on Borussia Dortmund’s path to a climate-friendly future.

We are brimming with confidence and excitement as we look ahead to the sporting and economic challenges that await us in the next season. Our squad, our employees and our fans form a strong foundation on which we will continue to build. We continue to pursue the ambitious goals of playing attractive football and establishing Borussia Dortmund as one of Europe’s elite and financially sound football clubs.

Finally, we would like to thank Hans-Joachim Watzke, who will be stepping down as managing director in November 2025. For more than 20 years, he has played a key role in shaping Borussia Dortmund and, together with all employees, turned it into one of Europe’s top clubs. We owe him our sincere gratitude for this extraordinary commitment and service to the club. His departure marks the end of an era and, at the same time, the beginning of a new chapter, that fills us with confidence.

We would like to thank you, our shareholders, for your trust, support and loyalty. With you at our side, we can confidently look ahead to the challenges on the horizon and look forward to many more magical Borussia Dortmund moments.