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Borussia Dortmund (BVB)

Business description

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

Giving their all

QuickView | Travel & Leisure | 08/11/2016

Ahead of Q1 results on 11 November, a broadly positive start to the season 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 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.

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Stock data

Market cap.€530.4m
Last close€5.765
High / Low (52 weeks)€8.3 / €4.9
Stock market listingDE
Forecast net cash (€m)51
Forecast gearing ratio (%)N/A
SectorTravel & Leisure

Price performance

Relative *1.95.6(8.5)

* % Relative to local index

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