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Borussia Dortmund's Financial Report for 2025/2026 Season

In a recently published report, Borussia Dortmund GmbH & Co. KGaA has unveiled its preliminary financial figures for the 2025/2026 financial year, revealing a notable drop in consolidated revenue. The total revenue for the fiscal period reached EUR 460.5 million, a decrease from the previous year’s EUR 526.0 million. This significant decline of EUR 65.5 million can be largely attributed to the club's failure to progress beyond the round of 16 in the UEFA Champions League, a stark contrast to the prior year's advancement to the quarter-finals.

Additionally, the timing of the 2025 FIFA Club World Cup negatively impacted Borussia Dortmund's income from this competition during the financial year. However, it’s not all bleak; the club saw an increase in advertising revenue, which is a positive indicator of its commercial strength in other areas.

The total operating proceeds for Borussia Dortmund, combining consolidated revenue with gross transfer gains, fell by EUR 52.4 million to EUR 537.2 million, compared to EUR 589.6 million the previous year. A concerning aspect of the report is the consolidated net loss resulting from operations, recorded at EUR 21.7 million, compared to a net profit of EUR 6.5 million in the previous year.

Earnings before tax (EBT) experienced a downturn at EUR -20.3 million, while earnings before interest, taxes, depreciation, and amortization (EBITDA) also fell to EUR 92.2 million from EUR 115.9 million in the prior year.

In detail, the breakdown of the sources of revenue indicates that:

• - Income from match operations stood at EUR 50.3 million (down from EUR 55.2 million)
• - Advertising income increased to EUR 157.9 million, up from EUR 153.6 million
• - TV marketing income saw a sharp decline to EUR 168.5 million from EUR 227.2 million
• - Merchandising income dropped slightly to EUR 38.7 million, down from EUR 40.0 million
• - Revenue from conference, catering, and other miscellaneous sources fell from EUR 50.0 million to EUR 45.1 million

Moreover, Borussia Dortmund reported net transfer income amounting to EUR 59.3 million, which is an increase from EUR 37.8 million the previous year. This growth may provide some relief amidst the financial downturn, reflecting the club’s active presence in the transfer market.

Due to strategic adjustments, personnel expenses were reduced by EUR 8.4 million to EUR 259.9 million from EUR 268.3 million in the prior fiscal year. On the contrary, depreciation, amortization, and write-downs saw an uptick of EUR 6.1 million, reaching EUR 111.4 million.

The club's other operating expenses also decreased by EUR 16.9 million from EUR 162.3 million to EUR 145.4 million, indicating efforts to streamline costs in various operational areas. The consolidated financial result slipped from EUR -1.0 million to EUR -1.1 million and the net tax expense was reduced to EUR 1.4 million from EUR 3.0 million the previous year.

These preliminary figures were calculated according to the International Financial Reporting Standards (IFRSs). In a separate reporting under the German Commercial Code (HGB), Borussia Dortmund GmbH & Co. KGaA registered a net loss for the year of EUR 17.1 million, contrasting sharply with the net income of EUR 7.7 million recorded in the previous year. Consequently, no dividends will be proposed at the Annual General Meeting for this financial year due to the net loss.

Looking forward, Borussia Dortmund anticipates a rebound with a projected consolidated net profit ranging from EUR 0 million to EUR 10 million for the 2026/2027 financial year. This projection is contingent upon various factors, including transfer deals and overall sporting success, which may influence actual outcomes throughout the coming year.

In light of these results, Borussia Dortmund’s management will convene for an annual press conference to delve deeper into the preliminary financial figures on August 21, 2026, providing fans and stakeholders insights into the club’s strategic direction. The press conference will be available for live streaming for those interested in the extensive financial analysis of this iconic football club.

Dortmund, known for its passionate football culture and loyal fanbase, remains optimistic about its future trajectory, striving to build on its commercial successes while navigating the challenges evident in the recent financial reports.