For the third time in a row, VfB Stuttgart reported a loss. This time over 16.6 million euros. Board boss Alexander Wehrle still sees light at the end of the tunnel and is aiming for “a black zero” for the traditional club in 2023.
The general meeting took place in front of more than 1,000 VfB supporters in the stadium. IMAGO/Press photo Baumann
Corona, always Corona. As is well known, the effects and after-effects of the pandemic have already cost the Swabians around 90 million. In addition, there are losses in income due to the current stadium renovation and the associated spectator restrictions and reduced ticket revenue. This resulted in the traditional club, which celebrated its 130th birthday yesterday, also making a loss in the 2022 financial year.
After losses of 28.4 million euros in 2020 and 1.2 million in 2021, those responsible at VfB announced a deficit of 16.6 million this time. “But we will work hard to get back into the black in 2023,” says CEO Alexander Wehrle at the general meeting currently taking place in the MHP Arena in front of just over 1,000 supporters.
Around 30 percent less for Kalajdzic
The fact that the numbers didn’t turn out to be even worse is thanks in particular to the high transfer income. According to Wehrle, one should not forget to confuse gross with net. In the 2022 financial year, Stuttgart always accounts from January 1st to December 31st and not, like many others, in the period of one season, the Swabians took Sasa Kalajdzic (to Wolverhampton for 18 million) and Orel Mangala (to Nottingham Forest for twelve million). ), Darko Churlinov (for 3.5 million to FC Burnley) and Pablo Maffeo (for 3 million to RCD Mallorca) around 36.5 million.
After deducting residual book values, investments by consultants, investments by players or solidarity contributions to the training clubs, around 25 million remained. In the Kalajdzic case, 18 million euros ended up being 11.9 – around 30 percent less. At the same time, around 20 million were invested in new professionals. Accordingly, there wasn’t much left for savings accounts or for reducing debts.
High hopes for the finished stadium
Despite the high loss, the Swabians, who reported expenses of 171.4 million and income of 154.8 million, reported positive equity of 11.2 million euros. And that is without the capital increase from new investor Porsche, which is due to be completed in the next few weeks. This will sustainably strengthen equity capital, which is important given the Bundesliga club’s overall economic situation. We are currently in the formal legal process of implementing this capital increase. With the co-owners Mercedes and Porsche, the so-called global brand alliance, who own around 20 percent of the AG shares, and Jako (one percent), the club still has around four percent that still needs to be placed with other investors.
There is also great hope for the stadium, which is currently being renovated and will be inaugurated for the first second leg of the current season against Leipzig on the last weekend of January 2024. The arena, which will then hold over 60,000 spectators, is one of the most modern in Europe and the world, in which, in addition to the five European Championship games in the summer of 2024, concerts and similar major events as well as team and business events will take place, will generate additional income of around ten million euros calculated per year. The hoped-for sporting revival in the Bundesliga could also provide a relief. A rise in the TV ranking alone would be rewarded with around 2.5 million euros per place.
VfB eV was able to report really good numbers. After a loss of 308,000 euros in the previous balance sheet period, 2022 ended with a profit of 535,000 euros. The Swabians also reported a new record with 85,000 members.
2023-09-10 14:45:04
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