Borussia Dortmund Reports EUR 21.7 Million Loss for 2025/2026

Consolidated revenue fell to EUR 460.5 million, down from EUR 526.0 million the prior year. The primary driver of this decline was a significant drop in TV marketing income, which plummeted by EUR 58.7 million as the team failed to progress beyond the early stages of European competition. While advertising revenue provided a cushion by rising to EUR 157.9 million, it was insufficient to offset the broader downturn.

Operating expenses saw a mixed trend. Personnel costs were trimmed by EUR 8.4 million to EUR 259.9 million, and other operating expenses fell by EUR 16.9 million. However, these savings were countered by rising depreciation and amortization costs, which reached EUR 111.4 million. Net transfer income offered a bright spot, rising to EUR 59.3 million compared to EUR 37.8 million a year earlier.

Following these results, the company confirmed that no dividend will be proposed to the Annual General Meeting. Looking ahead, management has set a cautious target for the 2026/2027 financial year, projecting a consolidated net profit ranging from zero to EUR 10 million. This guidance remains subject to change based on future transfer market activity and the club's performance on the pitch.