Borussia Dortmund (BVB) Q3 2025 earnings summary

Executive summary

• Revenue for Q1–Q3 2024/2025 rose to EUR 393.3m, up EUR 38.6m year-over-year, with growth across all streams.

• Net profit for the period was EUR 12.9m, down from EUR 48.9m in the prior year, mainly due to lower net transfer income.

• EBITDA reached EUR 88.3m (prior year: EUR 119.8m); EBIT was EUR 14.9m (prior year: EUR 49.4m).

• Borussia Dortmund advanced to the Champions League quarter-finals and sits 10th in the Bundesliga after 27 matches.

• Significant player transfers and sponsorship deals were completed, with new and extended partnerships.

Financial highlights

• Revenue: EUR 393.3m (+11% year-over-year); total operating proceeds: EUR 453.9m (-4%).

• Net profit: EUR 12.9m (prior year: EUR 48.9m); EPS: EUR 0.12 (prior year: EUR 0.44).

• Net transfer income: EUR 34.8m (prior year: EUR 88.4m).

• Cash flows from operating activities: EUR 55.4m (prior year: EUR 15.0m); free cash flow: EUR 2.5m (prior year: EUR -25.5m).

• Personnel expenses increased to EUR 199.1m (+3% year-over-year); other operating expenses rose to EUR 123.7m.

Outlook and guidance

• Full-year revenue forecast: EUR 503m; EBITDA: EUR 110–120m; EBIT: EUR 7–17m; net profit: EUR 5–15m.

• No changes to the forecast or risk assessment compared to the previous management report.