FC St. Pauli posts negative results despite increase in revenue
Thursday, 23. November 2023, 20:40 Uhr
FC St. Pauli ended the 2022/23 financial year with negative results. Though the club posted record revenue of EUR 61,954,540.90 compared with EUR 50,320,738.91 in the previous year, it recorded a consolidated net loss for the year of EUR 4,877,402.75 compared with a slight plus of EUR 359,873 in the previous year. Equity also fell from EUR 8,109,617 to EUR 3,226,908.57.
"FC St. Pauli has yet to regain its former financial strength after the turbulence of the Covid years," said club president Oke Göttlich. "We have to achieve predictable profits at Group and club level in the next few years to increase our equity, and with it our financial security and independence, back to pre-Covid levels."
Commercial director Wilken Engelbracht also made the case for cost discipline. "It was a positive year on the revenue side," he said. "All the key items have grown apart from the TV money from the DFB Cup, so we didn't have a revenue problem, we had an expenditure problem." This additional expenditure resulted primarily from three areas. Losses were incurred in merchandising due to one-off costs for the warehouse relocation and increased warehouse operating costs. In addition, the World Cup in Qatar and the on-pitch situation in the winter of 2022 meant customers were reticent about buying merchandise. Other negative effects included prior-period expenses and increased personnel costs, in part due to new recruitment. "We will re-adjust the club's cost structure in the future to ensure that record revenues result in predictable profits, as in the past," concluded Engelbracht.
Photo: FC St. Pauli
