Report
Klaus Breitenbach

Borussia Dortmund GmbH & Co KGaA : Q1 2024-25 : higher revenue, but lower net transfer income

>Revenue better than expected - In Q1 2024-25, BVB generated revenue of € 107.3m (+5.0% y-o-y, +5.3% vs ODDO BHFe). Income from merchandising declined (demanding comps with ca. 90,000 special-edition kits delivered in the 2022-23 season), while other revenue streams, particularly advertising (higher income from Champion Partners, Partners and two kit sponsors) and TV marketing (higher total distribution for the starting fee in the UEFA Champions League and performance...
Underlying
Borussia Dortmund GmbH & Co. KGaA

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.

Provider
Oddo BHF
Oddo BHF

​Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.

Analysts
Klaus Breitenbach

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