Borussia Dortmund (BVB)

Business description

The group operates Borussia Dortmund, a leading German football club, runners-up in the 2015/16 Bundesliga and competing in this season’s UEFA Champions League (quarter-finalists in 2015/16 UEFA Europa League).

Stock data

Market cap.€524.9m
Last close€5.71
High / Low (52 weeks)€5.7 / €3.6
Stock market listingDE
Forecast net cash (€m)41
Forecast gearing ratio (%)N/A
SectorTravel & Leisure

Price performance

Relative *25.937.236.9

* % Relative to local index

Other companies in sector Show

Company news

Borussia Dortmund: Just Warming Up

Wed, 05 Oct 2016 09:56:15 GMT

Borussia Dortmund's sale of Mats Hummels to Bayern will cover losses

Tue, 10 May 2016 13:52:30 GMT

BRIEF-Borussia Dortmund says contract of CFO Thomas Tress renewed

Mon, 13 Jul 2015 13:30:00 GMT

BRIEF-BVB says Ilkay Gundogan will be transferred to Manchester City

Thu, 02 Jun 2016 08:26:15 GMT

Borussia Dortmund Targets Investors to Close Bayern Gap

Sun, 27 Jul 2014 22:23:24 GMT

Y/E Jun Revenue (€m) EBITDA (€m) PBT (€m) EPS (c) P/E (x) P/CF (x)
2015A 263.6 48.0 44.2 42.7 13.4 20.4
2016A 281.6 15.3 73.8 68.2 8.4 15.2
2017E 307.0 35.0 58.0 53.6 10.6 17.5
2018E N/A N/A N/A N/A N/A N/A

Last updated on 25/08/2016

Latest research

Warming up

Update | Travel & Leisure | 05/10/2016

Fresh start

Update | Travel & Leisure | 15/07/2016

The price of success

Update | Travel & Leisure | 11/03/2016

Meeting its goals

QuickView | Travel & Leisure | 09/11/2015

Coming into range

Update | Travel & Leisure | 22/10/2015

Tip top

Update | Travel & Leisure | 27/08/2015


Update | Travel & Leisure | 15/07/2015

Still much to play for

Update | Travel & Leisure | 17/04/2015

Daily comment

Institutional Comment | Travel & Leisure | 26/08/2014

Game changer

Update | Travel & Leisure | 22/08/2014

Brand appeal

Update | Travel & Leisure | 10/07/2014

Daily comment

Institutional Comment | Travel & Leisure | 11/06/2014

Investment summary

A broadly positive start to the season both at home and in the Champions League confirms coach Tuchel’s successful record of squad development after high-profile departures. Renewed strength in depth and typically attractive style of play complement escalating scope for transfer gains. Despite inflationary wage pressure we still look for a doubling this year in pre-transfer EBITDA (our key metric), albeit from a reduced base (FY16 pre-transfer EBITDA was slightly below our expectations). A new lucrative deal on Bundesliga media rights drives FY18 growth prospects, assuming continued Champions League. Finances remain impressively disciplined.

Last updated on 05/10/2016

Industry outlook

Unsustainable spend on wages and transfers is increasingly being penalised by new UEFA Financial Fair Play requirements. Notwithstanding a phased implementation, a 'break-even requirement' applied initially to 2012 financial statements, 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.

Last updated on 01/09/2016

Key management

Thomas Treß, CFO

Company address

Borussia Dortmund GmbH & Co. KGaA
Rheinlanddamm 207 - 209
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