Borussia Dortmund (FRA: BVB)

Last close As at 21/06/2024

EUR3.46

0.00 (0.14%)

Market capitalisation

EUR382m

The group operates Borussia Dortmund, a leading football club, placed second in the Bundesliga in 2022/23, DFB Super Cup winners in 2019/20 and DFB-Pokal winners in 2020/21. The club has qualified for the Champions League in 12 of the last 13 seasons.

Unsustainable spend on wages and transfers is increasingly being penalised by UEFA Financial Fair Play requirements. A ‘break-even requirement’ obliges clubs to spend no more than they generate over a rolling three-year period. Sanctions vary from a warning to a ban from UEFA competitions, fines and a cap on wages and squad size.

Latest Insights

View More

Consumer | Update

Borussia Dortmund — London calling

Consumer | Update

Borussia Dortmund — Helping itself

Consumer | Update

Borussia Dortmund — Progressing nicely

Consumer | Update

Borussia Dortmund — A more normal schedule

Borussia-Dortmund_resized

Sector

Consumer

Equity Analyst

Russell Pointon

Russell Pointon

Director of Content, Consumer and Media

Richard Finch

Richard Finch

Analyst, Consumer

Milo Bussell

Analyst, Consumer and TMT

Key Management

  • Hans-Joachim Watzke

    CEO

  • Thomas Treß

    CFO

Balance Sheet

Forecast net debt (€m)

34.4

Forecast gearing ratio (%)

11

Share Price Performance

Price Performance
% 1M 3M 12M
Actual (16.4) 0.3 (20.2)
Relative (14.1) (1.0) (29.6)
52 week high/low €4.7/€3.3

Financials

Borussia Dortmund’s Q324 results demonstrated some phasing but it has made good progress year-to-date. The progress to the Champions League final for the first time since 2013, having beaten more-favoured (by the bookmakers) and higher-funded teams along the way, led to a further upgrade to profit guidance for FY24. Despite being less successful than usual in the Bundesliga, the club will take part in the Champions League next season as well as the revamped FIFA Club World Cup in the summer of 2025, which are all helpful in increasing the club’s global exposure and appeal.

Y/E Jun Revenue (€m) EBITDA (€m) PBT (€m) EPS (fd) (c) P/E (x) P/CF (x)
2022A 351.6 83.8 66.3 61.2 5.6 4.6
2023A 418.2 123.2 104.1 63.4 5.4 3.3
2024E 482.2 137.7 127.5 77.6 4.5 2.7
2025E 456.8 121.3 111.5 67.9 5.1 3.0

Further insights

insight

TMT

Borussia Dortmund: EKF 2023 QuickView

insight

Consumer

Investing in sports

Thematics

thematic

Consumer

ConsumerWatch – Give me a reason to love you

thematic

Consumer

ConsumerWatch – At least someone loves me

thematic

Consumer

ConsumerWatch – Falling into the fall

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