Borussia Dortmund

Overview
Price performance
Financials
Research
Sector insights
Thematics

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 competition, fines and a cap on wages and squad size.

Latest Insights

Consumer |
Update

22.04.24

Borussia Dortmund — Helping itself

Consumer |
Update

18.03.24

Borussia Dortmund — Progressing nicely

Consumer |
Update

05.03.24

Borussia Dortmund — A more normal schedule

Consumer |
Outlook

11.12.23

Borussia Dortmund — A full recovery

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Sector

Consumer

Equity Analyst

Russell Pointon

Director of Content, Consumer and Media

Richard Finch

Analyst, Consumer

Milo Bussell

Associate Analyst, Consumer and Media

Key Management

Hans-Joachim Watzke

CEO
Thomas Treß

CFO

Balance Sheet

Forecast net debt (€m)

41.5

Forecast gearing ratio (%)

Share Price Performance

Price Performance
%	1M	3M	12M
Actual	10.5	(0.1)	(13.6)
Relative	11.2	(6.8)	(24.2)
52 week high/low	€5.9/€3.3

Financials

Borussia Dortmund’s progress to the semi-final of the Champions League brings a further upgrade to profit guidance for FY24. In addition to helping the financial results of the current year, the relative success of German teams against those of other nations in European competitions this season may ensure the club qualifies for the Champions League next season despite currently being outside the top four of the Bundesliga.