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AGM: Bayern unveil record balance sheet

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AGM: Bayern unveil record balance sheet

Postby FCBayernNews » Tue Nov 13, 2007 7:06 pm

13.11.2007

Despite a disappointing season in Europe and the Bundesliga, Bayern Munich set new records for profit and turnover in the 2006-7 fiscal year, FC Bayern München AG Finance Director Karl Hopfner told 1,105 club members gathered at the Paulaner Nockherberg for Monday evening’s Annual General Meeting.

In the reporting year from 1 July 2006 to 30 June 2007, Germany’s most successful football club made an operating profit (Ebitda) of €53.5 million (2005-6: €27.0m) on turnover of €225.8 million (2005-6: €204.7m), generating profit after tax of €18.9 million (2005-6: 4.8m).

“Although we failed to win a trophy last season and finished a disappointing fourth in the league, we can be more than satisfied with our financial results,” Hopfner declared. The club’s major revenue streams were match operations (€83.6m) followed by sponsorship and marketing (€62.8m). Far and away the largest item of expenditure was personnel at €106.1m.

<b>Major boost from merchandising</b>

Income from merchandising showed extremely encouraging growth at €32.3m, a 10 percent increase on the previous fiscal year. “We’re setting new records year after year in this area,“ reported FC Bayern München AG chairman Karl-Heinz Rummenigge. The rate of increase in the first four months of the current business year has been an impressive 37 percent, largely driven by replica shirt sales bearing the names of new star signings Franck Ribery, Luca Toni and Miroslav Klose.

The superstar trio were brought in as part of the biggest raid on the summer transfer market in the club’s history, prompted by the on-field disappointment of the previous campaign. “We spent a huge amount of money in the summer. However, in financial terms, we’re still extremely stable and prudent,“ Rummenigge remarked. FC Bayern München AG reported cash reserves of €91.4m at 30 June 2007.

<b>More big names in pipeline</b>

The club thus continues to maintain a substantial war chest, which the board intends to use in pursuit of additional internationally renowned players. “We’ll never pursue a risky business strategy, but we will continue to sign high-quality players. We’ll invest in quality, not quantity. I too enjoy watching Ribery more than many players we’ve brought in for less money in the past,” Rummenigge commented.

“In the future, we will be in a position to strike specific individual transfer deals and finance them from our own resources, thus improving the quality of our squad,“ Hopfner added. Even without a money-spinning Champions League campaign this season, the Finance Director said he was confident of presenting “a positive operating result next year, even taking into account our unprecedented financial outlay on new signings.“

<b>Steady membership growth</b>

Complementing Bayern’s growth as a business, members’ club president and supervisory board chairman Franz Beckenbauer reported further new records from the membership and fan liaison department. The number of registered members rose from 121,119 to 135,752, and the number of official fan clubs from 2,290 to 2,329, boasting a total of 164,580 fan club members (previous year: 156,673). The trend continues to reflect a steady increase.

Finally, officials are quietly confident of adding to the club’s trophy collection after a barren 2006-7. “We’ve been top of the league for 13 matches now. There’s no reason why that shouldn’t be the case after 34 matches. We’ll pool all our energies into making sure the championship shield’s standing here again at our next AGM," Rummenigge declared.
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