Edison Issues Report on Borussia Dortmund (BVB)

Core Insights - Borussia Dortmund is recognized as one of Europe's leading football clubs, demonstrating consistent success in both domestic and European competitions [1] - The club has achieved a 20-year revenue compound annual growth rate (CAGR) of approximately 10%, driven by expanding global audiences, increasing media rights demand, and developing sponsorship partnerships [1] - Management's conservative approach to operating costs and player investments has resulted in a long-term record of positive net income and free cash generation, contrasting with the general perception of football clubs' financial health [1] - The valuation of Borussia Dortmund appears attractive when compared to its peers and its historical trading performance [1]