Borussia Dortmund (BVB)

Business description

The group operates Borussia Dortmund, a leading German football club, this season runners-up in the Bundesliga and quarter-finalists in the UEFA Europa League (Round of 16 participants in 2014/15 UEFA Champions League).

Stock data

Market cap.€368.5m
Last close€4.01
High / Low (52 weeks)€4.5 / €3.4
Stock market listingDE
Forecast net cash (€m)41
Forecast gearing ratio (%)N/A
TeamConsumer
SectorTravel & Leisure

Price performance

%1m3m12m
Actual(0.4)(1)19.0
Relative *(4.4)(3.3)33.9

* % Relative to local index

Other companies in sector Show

Company news

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

Borussia Dortmund seek new investors to close Bayern gap

Mon, 28 Jul 2014 08:26:15 GMT

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

Thu, 02 Jun 2016 08:39:28 GMT

Huawei y BVB presentan el concepto de Wi-Fi de alta velocidad para el SIGNAL ...

Fri, 14 Mar 2014 15:26:54 GMT

Y/E Jun Revenue (€m) EBITDA (€m) PBT (€m) EPS (c) P/E (x) P/CF (x)
2014A 256.3 44.7 37.1 50.8 7.9 7.3
2015A 263.6 48.0 44.2 42.7 9.4 14.3
2016E 270.0 24.0 26.9 24.6 16.3 19.4
2017E 300.0 48.0 39.0 35.8 11.2 8.6

Last updated on 23/05/2016

Latest research

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

Costs!

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

Winning ways

Outlook | Travel & Leisure | 06/06/2014

Spanish eyes

Update | Travel & Leisure | 24/03/2014

Investment summary

Runaway second place in this season's Bundesliga and early qualification for the group stage of next season's Champions League justify confidence in a possible step change in returns in FY17. We look for a doubling in pre-transfer EBITDA (our key metric) and strong cash generation for player investment. In the current year, while a 20% increase in revenue in Q3 was impressive without the Champions League, pre-transfer EBITDA was flat as a result of much higher than expected costs, driven by the team’s outstanding performance. Finances remain typically disciplined (net cash €13m at March 2016).

Last updated on 01/06/2016

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 01/06/2016

Key management

Thomas Treß, CFO

Company address

Borussia Dortmund GmbH & Co. KGaA
Rheinlanddamm 207 - 209
D-44137
Dortmund
Germany
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