Interview
09.12.24
"The Volksparkstadion has been paid off ahead of schedule"
Board member Eric Huwer spoke to HSV.DE about the positive annual report and its potential ramifications, general framework and emotional aspects. He also touched on what he was pleased to see during the current financial year.
HSV.de: Recording three straight years of annual net profits after 11 previous years with negative financial results isn't exactly the norm in German professional football. How can you explain in layman's terms how HSV have been able to achieve a healthy and stable financial state even after six years in the second division?
Eric Huwer: We do business the hanseatic way: We work every day to increase our earning power and make sure to not spend more than we bring in. At the same time, we're trying to reduce our debts. Every Euro that doesn't go to a creditor is put into continuing to develop the club. In terms of our revenue, we have been seeing extremely positive and sustainable returns and can present a positive annual report – all without lowering our sporting ambitions. We are reliable, which is what it comes down to. Our partners are able to identify themselves with this approach. We are working together to achieve the next steps in our development. Maintaining cohesion is essential in order for us to be successful. The sporting side of our club is 100% committed to our path.
What does a third straight year of annual net profits mean for the HSV Fußball AG?
It means that our economic turnaround wasn't a flash in the pan. We're continuing to gain more stability. We are able to generate the necessary financial reserves in order to be prepared for the unexpected challenges that you're confronted with time and time again in professional football. At the same time, we're also able to invest in our own future. We have to do that in order to remain competitive with our mid- and long-term planning, which also includes the Bundesliga, where we want to return to together.
Amongst some fans, the news of annual net profits conjures up visions of big-name transfers and star signings. Does that bother you?
It doesn't bother me at all. Dreaming should still be allowed. At the same time, I'm glad that most of the people that we deal with are able to evaluate the situation rationally and recognise that we are pursuing the path of commercial sense. We must not forget that we are still carrying losses of more than €50 million forward with us from the previous 11 years of negative results. That should serve as both a reminder and a warning.
What are you most pleased about in regards to the annual report?
The early repayment of the stadium loan not only represents value added on a balance sheet, but also emotionally. I'm extremely pleased that we can now finally say that the Volksparkstadion has been paid off ahead of schedule. We will continue to invest into our home stadium in order to further expand on our fantastic in-stadium experience. I'm also pleased with the fact that we have gained further abilities to act. I prefer to act rather than react. Or, to put it in football terms: I'd rather have the ball than chase after it.
Final question: What are you forecasting for the 2024/25 financial year?
It will be difficult to attain a similarly positive annual report this year. That's partly due to the fact that we carried out considerable maintenance and modernisation work on our stadium after 30th June 2024. Additionally, after six failed attempts at earning promotion, we decided together that we would undertake several changes to our squad over the summer transfer window in order to be able to achieve our goal as quickly as possible. Even in what will be our seventh year in the second division, we will once again generate over €100 million in revenue. Our goals are clear: We want to be as successful as possible on the pitch as a strong, stable club with the ambition to grow. We also want to be debt-free as soon as possible.
Thank you for your time.
Find the full annual report here (available only in German).