The 2023/24 financial statement | OneFootball

Chief financial officer Oliver Frankenbach presents Eintracht Frankfurt Fußball AG’s latest financial figures.

On Thursday 31 October 2024, outgoing CFO Oliver Frankenbach released Eintracht Frankfurt Fußball AG’s latest financial figures at a press conference.

Record turnover again, significant increase in net profit The Bundesliga club posted record turnover again in the 2023/24 season: €390.5 million, beating the €310.2 million from the 2022/23 campaign.

Whereas participation in the UEFA Champions League was the main driver behind the revenue and earnings development in the 2022/2023 season, in 2023/24 it was the record transfer fees totalling €143.2 million.

Due to participation in the Conference League in 2023/24 compared to participation in the Champions League in 2022/23, it is understandable that almost all revenue areas that are directly or indirectly affected by the staging of home matches saw a decline, especially since one fewer home match was played across the three competitions – Bundesliga, DFB Cup and European competition.

Sales from the exploitation of media rights were particularly affected by this and, after €140.5 million in 2022/23, they amounted to €92.6 million, which represents a decline in sales of €47.9 million or 34.1 percent.

More pleasing, however, was the fact that merchandising sales totalling €23.4 million remained almost the same compared to the previous year (€23.2 million).

The business performance of the subsidiaries was also extremely positive, with an increase in sales of €6.9 million from €33.9 million to €40.8 million – a rise of 20.4 percent. Eintracht Frankfurt Stadion GmbH played a key role in this with a successful programme of summer events and the staging of two National Football League (NFL) matches.

Overview of 2023/24 turnover

Increase in expenditure due to record sales and further investment in the playing squad The 25.9 percent increase in revenue also led to an increase in expenditure, including the financial result and taxes. These rose by 24.3 percent from €292.6 million (2022/23) to €363.6 million (2023/24). In particular, the expenses associated with the transfer fees received (€143.2 million) and reinvestment in the playing squad caused operating expenses to rise by 17.7 percent from €126.7 million in 2022/23 to €149.1 million, while depreciation, including the amortised cost of player departures, increased by 51.6 percent from €33.5 million to €50.8 million.

Although personnel expenses rose by a further 18.2 percent to €141.4 million, the staff cost ratio of 39 percent remained at a very good level in the context of the Bundesliga.

Overview of 2023/24 expenditure

Equity up

Equity rose from €24.7 million to €51.6 million due to the profit, increasing the equity ratio from 16.0 percent to 21.1 percent.

Thanks to the steady reinvestment of the transfer fees in the playing squad, debt fell as a percentage from 31.6 percent to 27.8 percent as a result of the increase in total assets, although it rose nominally from €48.6 million to €68.2 million. New challenges due to further investments and growing debt

The positive sporting and financial development of Eintracht Frankfurt Fußball AG is accompanied by an overall increase in investments and running costs, both in the sporting and administrative areas. These form the necessary basis for the club's competitiveness and sporting objectives. The investment strategy in sport is characterised above all by the growing potential of the playing squad through transfer income.

Frankenbach: “As a result of this positive development, however, there are also new requirements for the company's future capitalisation and liquidity. We have been working on corresponding measures for some time, which I have initiated and which my successor Julien Zamberk will now continue and finalise together with the committees. I wish him every success for the future. Because of our very good and trustful working relationship, I am absolutely certain that he will master the major challenges brilliantly.”