Bayern post record turnover at 626 million euros, up 20 percent
MUNICH (Reuters) - Bayern Munich, driven by strong sponsorship and marketing results, posted a record annual turnover of 626.8 million euros ($665 million) for the 2015-16 fiscal year, up by more than 100 million from the previous year, the club said on Friday.
Hours before a general assembly expected to re-elect Uli Hoeness, convicted and jailed for tax evasion, as club president, Bayern said turnover was up by 20 percent from 523.7 million euros last fiscal year.
The Bundesliga champions, Germany's richest club and one of the wealthiest in the world, posted earnings before interest, tax, depreciation and amortisation of 142.5 million euros, up sharply by 28 percent from 111.3 million.
Bayern won the German league for a record fourth consecutive season in 2016 and clinched the German Cup to secure yet another domestic double. They also reached the Champions League semi-finals.
"Bayern Munich can look back at an outstanding sporting and financial year in 2015-16 which members, staff and friends of the club can be proud of," the club's deputy board chairman Jan-Christian Dreesen said in a statement.
Pre-tax profits stood at a club record 53,9 million, up from 31.4 million, making it the 24th consecutive year that Bayern posted a profit.
Sponsorship and marketing revenues increased by more than 50 percent to 169.8 million euros, from 113,9 million, while income from merchandising was just over 108 million euros.
Club membership also grew by about 14,000 in 2015-16 to 284,000.
While these figures make the club one of the biggest in the world, television revenues were only a fraction of those of English clubs, with Bayern receiving 83 million euros, up from 73 million in the previous fiscal period.
($1 = 0.9425 euros)
(Reporting by Karolos Grohmann, editing by Ed Osmond)