Annual Report 2006/2007 KGaA/Group - BVB Aktie - Borussia ...

GROUP MANAGEMENT REPORT
The capital increase resolved by the extraordinary
General Shareholders' Meeting of Borussia
Dortmund GmbH & Co. KGaA on 15 August 2006
for a nominal amount of up to EUR 17,550,000 to
EUR 61,425,000 was fully placed. The indirect subscription
right for a total of 7,567,585 new shares
was exercised by the Company's limited liability
shareholders. Morgan Stanley & Co. International
Limited, London, England (“MSIL”) subscribed for
an additional 9,982,415 new shares in accordance
with the resolution authorising the capital increase
dated 15 August 2006. MSIL paid in its non-cash
contribution by assigning to the Company a partial
claim held by its sister company, Morgan Stanley
Bank International Limited, against the Company
for a nominal amount of EUR 21,961,313.
The capital increase was entered in the commercial
register of the Local Court of Dortmund on 19
September 2006. Thus, the Company's share capital
is EUR 61,425,000 (previously EUR 43,875,000) and
is divided into the same amount of no-par value
shares. Management used EUR 10 million of the new
cash funds generated from the capital increase
(approximately EUR 15.1 million in total) to finance
working capital and put the remainder toward reducing
existing liabilities.
The restructuring of the liability side of the balance
sheet, with the aim of strengthening equity resources,
achieving a more manageable debt maturity structure
and improving interest rate terms, has now been fully
implemented.
Key financial indicators
Key financial figures Borussia Dortmund Group
2006/2007 2005/2006
EUR millions 30.06.2007 30.06.2006
Equity 86.5 37.6
Investments 16.3 11.3
Gross revenue 106.0 92.7
Operating profit/loss (EBIT) 15.6 -11.2
Financial result (investment income and net interest expense) -8.5 -11.4
Net profit/loss for the period 10.1 -20.8
Earnings before interest, taxes, depreciation
and amortisation (EBITDA) 29.1 3.0
Cash flows from operating activities 11.9 -5.1
Weighted average number of shares (in thousands) 58,665 31,021
Earnings per share (in EUR) 0.17 -0.67
3 rd Round
26 August 2006
VfB Stuttgart 1:3 BVB
DFB Cup
9 September 2006
Thannhausen 0:3 BVB
Frei, Brzenska and Kringe celebrate
the victory in Stuttgart with their fans.
TSG Thannhausen brought about many
opportunities, but BVB won 3:0.
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