As of: November 12, 2024 4:27 p.m
HSV Fußball AG has presented a positive balance sheet for the third time in a row. As the second division football team announced on Tuesday, the club achieved an increase of 2.1 million euros in the past financial year. However, the Hamburg residents’ total liabilities have increased slightly.
While things are currently going anything but according to plan for HSV in the second division with three games without a win, economically things are looking much better. The trend of recent years continues at HSV. “We are financially strong,” said CFO Eric Huwer about the positive balance.
Total sales rose from 114 million to 123 million euros in one year. Adjusted for TV and transfer money, revenue in the past financial year was around 100 million euros for the first time. In addition, HSV paid off the loan for the Volksparkstadion in full two years before the deadline. The arena is now debt-free.
High viewership and rental income
The club particularly benefited from two effects last season: the high number of spectators and income from renting out the Volksparkstadion for concerts such as that of Taylor Swift or the Champions League guest appearance of Shakhtar Donetsk.
HSV’s total liabilities have nevertheless increased slightly to around 57.8 million euros. In the previous year they were 52.9 million euros. But this is no reason for those responsible for the club to worry, because in return the stadium was modernized. “And with a financial reserve of almost 36 million euros, we now have a solid buffer with which we can address any challenges at an early stage,” said Huwer.
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It is questionable whether HSV will achieve such a positive result again this season, as a lot has been invested in the team in order to achieve the longed-for promotion to the Bundesliga at the seventh attempt. According to Huwer, it will be even more difficult to achieve a similarly positive annual result: “This is also because we have carried out significant maintenance and modernization work in our stadium after June 30, 2024.”
Third year in a row with a profit
The win last season marks the third year in a row with a win. In the 2021/2022 financial year, HSV was able to report positive figures again for the first time after twelve years with a negative balance sheet. And for the 2022/2023 financial year there was even a whopping increase of almost eight million euros.
Football AG had previously closed the financial years eight times in a row since it was spun off in 2014, sometimes with significant losses.
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Sports current | 12.11.2024 | 4:17 p.m
