In a media briefing on Thursday, CFO Oliver Frankenbach explained Eintracht Frankfurt’s economic development. Although the consequences of the Corona pandemic caused a loss totalling 45 million euros in the past two seasons, not all revenues declined. In terms of marketing, the club achieved a significant increase in the millions.
As far as economic stability is concerned, SGE CFO Frankenbach places Eintracht in the top third of the Bundesliga despite the high losses. Nevertheless, the situation remains tense. This is shown by the following “cautious calculation” made by the board before the season: With an average stadium capacity utilisation of 60 per cent, further losses of around 30 million euros would be incurred this season, and new borrowing would be unavoidable. Hopefully, 40,000 fans will be allowed into the arena again for the first time at the upcoming home game against Hertha BSC, and full capacity utilisation in the hospitality area will be possible.
Last season, revenues fell from €278.1 million to €160.4 million compared to the 2019/20 season. Whereas in the summer of 2020, those responsible had still been pleased with a net profit of 18.7 million euros, a “record result”, in 2020/21 a whole 36.1 million euros resulted in a loss.
Equity did not decrease quite so drastically from 53.4 to 39 million euros, due to an increase in equity in the spring.
“The first fruits can now be seen “
It is remarkable that in the middle of the pandemic the marketing revenues could be increased from 24.7 million euros to 31.8 million euros. This is primarily due to the fact that Eintracht has been operating the stadium itself since the summer of 2020 – and has been marketing itself for two years.
“The first fruits can now be seen,” says Frankenbach this Thursday. He nevertheless expects the economic impact of Corona to continue to occupy the club for the next five years.
