Borussia Dortmund reports €21.7m loss on lower UEFA revenue

Borussia Dortmund experienced a significant financial decline in the 2025/2026 fiscal year, reporting a net loss of €21.7 million, a stark contrast to the previous year's net profit of €6.5 million. The company's revenue also took a hit, dropping from €526.0 million to €460.5 million. This decrease was primarily due to a significant reduction in TV marketing income, falling from €227.2 million to €168.5 million.

Borussia Dortmund's participation in the UEFA Champions League was disappointing as they failed to progress beyond the quarter-finals, unlike the previous year's advance to the round of 16. Additionally, income from the 2025 FIFA Club World Cup was lower due to timing differences. Despite an increase in advertising income to €157.9 million from €153.6 million, the overall financial performance was negative, with earnings before interest, taxes, depreciation, and amortization dropping to €92.2 million from €115.9 million.

Earnings before taxes were also in the red, at negative €20.3 million compared to the positive €9.5 million the year before. Net transfer income saw an increase to €59.3 million from €37.8 million. Personnel expenses decreased slightly to €259.9 million from €268.3 million. However, depreciation and amortization rose to €111.4 million from €105.3 million.

The company stated that under German Commercial Code accounting standards, a net loss of €17.1 million was reported, as opposed to a net income of €7.7 million in the prior year. Borussia Dortmund also announced that no dividends can be proposed to the Annual General Meeting for the financial year. The company forecasts a potential net profit between €0 million and €10 million for the upcoming 2026/2027 fiscal year, with the guidance subject to change based on transfer deals or sporting success.