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SBD Global/March 14, 2013/Finance

Bundesliga Side Werder Bremen Expects Financial Loss Of More Than $10M

Bundesliga club Werder Bremen "will again end the fiscal year with a noticable loss," according to SPOX. Club Exec Dir Klaus Filbry said, "We will again not have a positive result. However, the minus won't be as high as last year." The club has lost €14M during the previous fiscal year. This year's minus is expected to be around €8M ($10.4M). The financial numbers "are the consequence of the club's missing on-field success." But the expected loss "is no reason for concern." Filbry said, "Our financial situation is good. We don't have any debt, with €24M ($31M) a reasonable capital and therefore a very reasonable equity ratio. We are well positioned" (SPOX, 3/13).
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