Borussia Dortmund GmbH & Co. KGaA reported preliminary consolidated revenue of EUR 460.5 million for the 2025/2026 financial year, down EUR 65.5 million from EUR 526.0 million a year earlier, and a consolidated net loss of EUR 21.7 million versus a EUR 6.5 million profit. The decline was driven mainly by lower TV marketing income after the club failed to reach the UEFA Champions League round of 16, compared with a quarter-final appearance the previous year, and lower income from the 2025 FIFA Club World Cup because of its timing. Advertising income increased. Consolidated total operating proceeds fell EUR 52.4 million to EUR 537.2 million, while EBT fell to negative EUR 20.3 million and EBITDA declined to EUR 92.2 million. No dividend can be proposed for 2025/2026. Borussia Dortmund expects a consolidated net profit of between EUR 0 million and EUR 10 million in 2026/2027, although the guidance may change because of transfer deals, sporting results and other differences between actual events and forward-looking statements.