Borussia Dortmund (BVB)

Business description

The group operates Borussia Dortmund, a leading German football club, DFB Cup winners in 2016/17 and competing in this season’s UEFA Champions and Europa Leagues (Champions League quarter-finalists in 2016/17).

Meeting its goals

QuickView | Travel & Leisure | 09/11/2015

Ahead of Q1 results on 13 November, a positive annual report and continued on-field success reinforce confidence in our current-year forecasts and a possible step change in returns in FY17, assuming Champions League qualification. Forecasts for next year suggest a neardoubling in pre-transfer EBITDA (our key metric) and strong cash generation for player investment (we estimate €74m net cash at June 2017). An EV/EBITDA (pre-transfer) of 5x FY17e seems to ignore the longterm potential of powerful brand development and valuable media rights.

Edison's research is freely available. We will never ask for your credit card details and you do not need to register. By downloading this research you are agreeing to our terms and conditions, which you can read in full here.

Stock data

Market cap.€525.3m
Last close€5.710
High / Low (52 weeks)€8.3 / €5.4
Stock market listingDE
Forecast net cash (€m)48
Forecast gearing ratio (%)N/A
SectorTravel & Leisure

Price performance

Relative *2.2(2.6)3.7

* % Relative to local index

Company news