Second division soccer team Hamburger SV is back in the black for the first time in twelve years. As HSV announced on Monday, the past 2021/2022 financial year ended with a plus of one million euros.
Sales amounted to 89.0 million euros (previously: 55.8 million euros). A strong positive effect was the spectator income that was not included in the figure due to reaching the semi-finals in the DFB Cup and the relegation game against Hertha BSC as well as the return of the fans to the stadiums in spring. Despite the Corona restrictions, the proceeds from the game operation for the entire season amounted to 22.6 million euros.
“We have broken our economic downward spiral.”
— HSV CFO Eric Huwer
Last year, the then CFO Frank Wettstein announced a minus of 4.7 million euros – it was the eleventh deficit in a row. And it would have been even higher if there had not been millions of dollars in payments from the state (eleven million euros in Corona aid) and the city of Hamburg (14.6 million euros for the sale of the stadium property).
Liabilities reduced to 54 million euros
In the meantime, HSV has reduced its liabilities from just under 100 million euros to just over 54 million euros. “If Corona hadn’t happened, we would have already broken even in the 2019/20 financial year,” explained Chief Financial Officer Eric Huwer: “We reduced net financial liabilities, simply put the actual debt, by EUR 17.5 million in the past fiscal year alone. ”
HSV reports equity of EUR 35.0 million (previously EUR 31.8 million) and increases its equity ratio from 25.2 to 30.3 percent. “In a league comparison, there should hardly be any comparable clubs that report equity in a similar way, neither in the second division nor among the comparable, so-called traditional clubs,” said Huwer.
Stadium renovation: First measures this week
A major financial expense in the current financial year is the renovation and modernization of the Volksparkstadion. Eight to ten million euros have to be invested for the EM 2024 alone. The total costs are estimated at around 30 million euros. The first construction work is scheduled to begin this week.
This topic in the program:
NDR 90.3 Current | 14.11.2022 | 12:00 o’clock
