The 2011-12 financial year ending on 30 June 2012, saw a reduction of 24.2 million euros in total returns to 95.6 million euros for SV Werder Bremen GmbH & Co KG aA, who accrued a result after tax of -13.9 million euros...
The 2011-12 financial year ending on 30 June 2012, saw a reduction of 24.2 million euros in total returns to 95.6 million euros for SV Werder Bremen GmbH & Co KG aA, who accrued a result after tax of -13.9 million euros...
After the second-largest profit in Werder history the year prior (8.2 million euros), Bremen failed to create a surplus for the first time in seven years. "The negative result leads back essentially to the missing money from the UEFA Champions League. Our traditionally high capital adequacy, however, makes it possible for us to balance out the deficit from the past financial year with our own means," said Klaus Allofs, chairman of the management board.
The equity which essentially came from retained earnings from the previous year amounted to 24.4 million euros. "This corresponds to a very strong equity ratio of 48 percent of the balance sheet total. The company is healthy and still has a high liquidity to finance among other things transfers from our own means," said Klaus Filbry, marketing and finances manager.
As a consequence of the results, the SV Werder Bremen GmbH & Co KG aA management board already initiated various measures during the past financial year. "Without losing our sights on our sports goals, we expect an improved result for the current season," said Allofs.
The leaders of Sport-Verein "Werder" von 1899 e.V. - president Klaus-Dieter Fischer, vice president Dr. Hubertus Hess-Grunewald and treasurer Axel Plaat - also presented their balance sheet Monday evening at the Green-Whites' annual members meeting.
The club registered a loss of 348,000 euros with sales of 3.5 million euros. The loss was compensated with its own equity, which amounted to 12.2 million euros after the financial year. "The club still has excellent footing. We are modest, future-orientated and very healthy," said president Klaus-Dieter Fischer, who announced a high equity ratio of 92 percent. "That is a sensational value about which Werder members can really be proud," said treasurer Axel Plaat.
