Successful economic turnaround

admin tarafından yayınlandı

30 July 2024, 08:15 yayınlandı

VfB Stuttgart 1893 AG was able to continue to sustainably drive its economic consolidation in the 2023 financial year. This return to economic stability will provide the foundation for the perspective of further development, with targeted investments and a competitive and ambitious first-team squad. For the 2023 financial year, the company comfortably broke even and even recorded a slight surplus of €700,000. “VfB therefore completed its financial turnaround in 2023,” said Dr. Thomas Ignatzi, board member for finance, administration and operations. “The significant cuts of recent years due to two relegations from the Bundesliga and the massive economic effects of the pandemic are now behind us.”

New record revenues for VfB

At the general meeting held on Sunday 28 July 2024, chairman of the board Alexander Wehrle was also in a position to announce new record revenues, of €217.9 million in 2023, exceeding those of the previous best financial year at VfB by €45.9 million, posted in 2019. “This growth in revenue is all the more impressive given the fact that we were redeveloping the MHP Arena throughout the 2023 financial year. Half of the revenues have come from media and transfer dealings,” said Wehrle to the members. As a consequence, he explained, there was also record expenditure of €217.2 million, with the wide-ranging long-term investments in the redevelopment and expansion of the MHP Arena being reflected in 2023 outgoings.

The economic perspective for the forthcoming 2024/25 season appears highly promising. “In all likelihood, we will once again be able to see record revenues with a significant uptick in turnover,” Wehrle said. “Despite the considerable on- and off-the-pitch investments mentioned earlier, our equity situation will continue to improve, and the economic consolidation phase will to the greatest possible extent be completed by the end of the season.”