Borussia Mönchengladbach back in profit after Covid-19 losses

Stephan Schippers, Managing Director of Borussia Moenchengladbach, speaks during a press conference at Borussia Park. Borussia Moenchengladbach financial director Stephan Schippers is optimistic about the club's future after recent loss-making years. Federico Gambarini/dpa

Bundesliga club Borussia Mönchengladbach generated a profit in the last financial year for the first time in three years.

Earnings for 2023 after taxes amounted to just under €4.3 million ($4.6 million) on a turnover of just under €200 million (2022: €177.3 million).

Managing director Stephan Schippers presented the figures at the annual general meeting at Borussia Park on Monday.

In the years 2020 to 2022, the club made a total loss of around €55 million during the coronavirus pandemic.

Gladbach, down in 12th in the Bundesliga, sold several top names in the last year and have concentrated on promoting young players. Despite the return to profit, a similar course of action is expected in the coming months.

"We have to continue on the path to financial recovery. Then comes sporting success," said Schippers.

© Deutsche Presse-Agentur GmbH