Bayern post best financial results in 112 years
SOCCER-BAYERN-FINANCIAL:Bayern post best financial results in 112 years
BERLIN (Reuters) - Bundesliga leaders Bayern Munich on Thursday posted their best financial results in more than a century with a profit of 11.1 million euros for the 2011/12 fiscal year and a record turnover of 332.2 million despite two years without a trophy.
Speaking at the annual general assembly, outgoing financial boss Karl Hopfner said the club, which had set a 1.3 million euro profit in 2010/11, had never been in better financial shape.
"I think the members of Bayern Munich can be proud of their club today," Hopfner said. "Bayern Munich has never been in such a financial position in its 112-year-history."
The German record champions and four-time European Cup winners boosted their turnover by more than 40 million, up from 290.9 million euros for 2010/11.
The combined turnover of the company together with Allianz Arena Munich Stadium Ltd grew to 373.4 million euros.
Sponsoring and marketing revenues were unchanged at 82.3 million but merchandising revenues grew to 57.4 million from 43.9 million.
Core earnings, referred to by the financial acronym EBITDA, also rose to 69.3 million, up from 42.3 million the previous year.
Bayern have almost doubled their registered members within nine years from 96,440 in 2002/3 to more than 187,000 in 2011/12.
The club is still paying off its Allianz Arena stadium and is expecting an additional 30 million euros available once it is paid off in the coming years.
Bayern lost the Champions League final on penalties to Chelsea in their home stadium in May.
(Reporting by Karolos Grohmann, Editing by Pritha Sarkar and Keith Weir)