- Plenty in reserve
Borussia Dortmund enters the international break in good heart as wire-to-wire leaders of the Bundesliga after a record start to the season (19 points after seven games). It is early days but confirmation of a favourable reaction to new coach Peter Bosz and key player signings even if found wanting at the highest level in recent Champions League. A positive annual report and the remarkable sale of Dembélé to Barcelona further prompt us to raise substantially our current-year forecast. For FY19 we are confident that Dortmund’s conspicuously successful development record and transfer policy as well as initial benefits from Champions League reform should generate another strong outturn, even if Dembélé makes FY18 a hard act to follow.Borussia Dortmund has two reportable segments, which are responsible for the main activites of the overall Group. The first segment consists of Borussia Dortmund GmbH & Co. KGaA, which operates a professional football club including professional football squad and leverages the associated revenue potential arising from the the transfer of players, catering, TV marketing, sponsorship and ticketing. The second segment consists of the separate merchandising business, which is carried out by BVB Merchandising GmbH. In addition, Co. assumes all the marketing activities for the stadium, including the event areas, on non-match days and includes activities such as stadium tours.
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