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SBD Global/November 19, 2013/Finance

Bundesliga Club Hertha Berlin Reduces Liabilites By €5.2M During '12-13 Fiscal Year

Bundesliga club Hertha Berlin "was able to reduce its liabilities" by €5.2M to €36.8M during the '12-13 fiscal year, according to the SID. However, Hertha CFO Ingo Schiller revealed that the club lost €7.8M during the previous season, when it was promoted to the Bundesliga. Originally, the club expected a loss of €13M. The "main reason that the result was not as bad as initially thought was the sale of the catering rights for the Olympic Stadium." The club sold those rights for the period '14-20 for a one-off payment of €10M to an investor. For the current season, the club "expects to be back in the black for the first time in a while." Schiller said that attendance numbers for the current season "have exceeded expectations." Hertha has been attracting an average attendance of 55,000 to its home games so far. Ahead of the season, the club calculated with 47,500. The result is that the club has surpassed its own plans by more than €1M this season (SID, 11/18).
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