Monday , January 17 2022

Financial year 2017/18: HSV loses 5.8 million euros, but reduces debt – Bundesliga Football News – Football News


before 5 minutes.

HSV division's total football club liabilities will fall in the 2017/18 financial year from 105.5 to 85.5 million euros. Coach change and separation of sports director Todt and CEO of Bruchhagen but check the result.

The debts have fallen, but the financial year 2017/18 has completed PE football from the Hamburg sports club with a loss in the amount of 5.8 million euros. This number was issued by the club on November 20.

"We have not achieved our goal to achieve a balanced outcome for the 2017/18 season," HSV CFO Frank Wettstein is quoted in a statement from the society. In the previous year, the deficit had been 13.4 million euros.

As reasons for the annual deficit, Wettstein led several reasons. Thus, the differences of Markus Gisdol and Bernd Hollerbach and their assistants as well as sports director Jens Todt and the manager of the Heribert Bruchhagen board have beaten with 5.4 million euros. This included unscheduled depreciation with the exception of further capitalization of deferred taxes.

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At the same time, however, a financial debt of € 19 million was reduced to € 62.1 million. Overall, the club has obligations of 85.5 million. In the last financial year, HSV increased its revenue to 133.6 million euros (2016/17: 122.1), the equity grew from 42.4 to 49.1 million euros with an equity ratio of 30.1 per cent. Pre-interest earnings, taxes, depreciation and amortization led to € 17.8 million to € 41.6 million.

"On the one hand, we were able to strengthen our hens again on the one hand and reduce debts on a timetable on the other, both of which were necessary given the reduction of the Bundesliga, as turnover was significant it is in the second Bundesliga, "said Wettstein, He sees the overall financial position of the AG positively:" We can fulfill all obligations at any time and on time. "

For the current financial year 2018/19, the first in the second league, the society expects a sale of € 100 million with pre-interest earnings, taxes and duties of more than ten million euros. "This year in the 2nd Bundesliga, we'll probably create a net loss again, this is unavoidably unfortunately," said Wettstein: "Only the losses on sale are around 40 million. euro compared to last season, which is not alone in cost savings within one year. "The CFO did not publish profit forecasts.

It is a big task to repay the fan's bond in the amount of 17.5 million euros, which must already be shown in the licensing process for the 2019/20/20 season in 1st or 2nd League . Wettstein: "We are working on it and we are confident that this will work for both licenses." (AP)

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