DGAP-Ad-hoc: Borussia Dortmund GmbH & Co. KGaA / Key word(s): Miscellaneous DFL General Assembly decides to continue relocating and suspending match operations due to the current COVID-19 situation / impact on net profit forecast for FY 2019/2020
16-March-2020 / 17:48 CET/CEST Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement.
Society as a whole, and with it the professional football, is facing an unprecedented challenge. Curbing the coronavirus is a top priority in all areas of life. Against the background of the great dynamism of this situation, the general meeting of the DFL Deutsche Fußball Liga (DFL) dealt with the effects on the Bundesliga and the 2nd Bundesliga. The focus was on the opportunities to carry out the sporting competition and the economic basis and resources as an employer for around 56,000 direct and indirect employees at the clubs and their subsidiaries.
The 36 professional clubs of the Bundesliga and 2. Bundesliga have decided today that the sporting competition will initially be suspended. For the time being, this affects the 27th matchday of both leagues. In the last week of March 2020, decisions will then be taken on how to proceed with a view to the game schedule. For this purpose, a new general assembly is planned, at which, in addition to the further general development, UEFA's decision to possibly move the 2020 UEFA European Championship can also be taken into account. The DFL does not assume that it will be possible to play again on the first weekend in April 2020. There is nevertheless agreement among the clubs, as long as legally possible and health-justifiable, to play all regular matches of this season and, if necessary, also without spectators.
In view of this situation, the management of the general partner of Borussia Dortmund GmbH & Co. KGaA today decided to withdraw the forecast of a net profit in a low single-digit million range for fiscal year 2019/2020 (FY 2019/2020) published in the annual report for fiscal year 2018/2019 on September 27th, 2019. In addition, under the current circumstances, the management also refrains from making a new forecast for the FY 2019/2020.
Due to the effects of COVID-19, the management continuously re-evaluates the situation.
Business operations for the current FY 2019/2020 are assured and there is currently no existential threat for the company.
Dortmund, March 16th, 2020
Borussia Dortmund GmbH & Co. KGaA Borussia Dortmund Geschäftsführungs-GmbH
Contact: Dr. Robin Steden Inhouse Counsel / Investor Relations
Borussia Dortmund GmbH & Co. KGaA
Rheinlanddamm 207 - 209
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