HSV publishes annual financial statements as at 30 June 2021 and management report for the financial year 2020/21

HSV Fussball AG recorded a significant decline in sales due to the Corona crisis. Liabilities were nevertheless further reduced as planned. The equity ratio remains stable.

The HSV Supervisory Board approved the annual financial statements of HSV Fußball AG as at 30 June 2021 prepared by the Management Board. Prior to this, BDO AG Wirtschaftsprüfungsgesellschaft, the auditing company commissioned by the Supervisory Board, had issued an unqualified audit opinion on the annual financial statements as at 30 June 2021 and the management report for the 2020/21 financial year, dated 15 October 2021.

A compact overview of the most important figures: HSV Fußball AG closed the financial year with a net loss of EUR 4.7 million (previous year: EUR 6.7 million).

The sales revenues generated in the 2020/21 financial year amount to EUR 55.8 million and represent a decline in sales of EUR 39.9 million (41.7%) compared to the previous year. The decline in revenue is primarily attributable to income from match operations, which amounted to only EUR 0.6 million in the past season (previous year: EUR 22.1 million). In addition, income from transfer compensation fell by EUR 8.7 million to EUR 4.8 million.

EBITDA (earnings before interest, taxes, depreciation and amortisation), which is relevant for corporate management, decreased by EUR 1.3 million to EUR 12.5 million.

As at 30 June 2021, HSV Fußball AG's equity amounted to EUR 31.8 million (previous year: EUR 34.4 million). The equity ratio was 25.2% (previous year: 25.1%).

Financial liabilities amounted to EUR 51.2 million as at the balance sheet date and were reduced by EUR 6.6 million as planned.