German soccer champions Bayern Munich announced a rise in annual revenue for the 2017/18 season, helping to raise the spirits at a club whose footballing fortunes have taken a slight dip of late.
Bayern won its sixth successive league title last season, but European success eluded them again, falling at the semi-final stage of the European Champions League — the continent's premier club soccer competition — losing to eventual winners Real Madrid.
Turnover reached 657.4 million euros ($751.3 million) from 640 million euros the previous season, but EBITDA (earnings before interest, tax, depreciation and amortization) stood at 136.5 million euros, down from 149 million euros in 2016/17. Net profit was also down to 29 million euros from 39 million euros.
"Bayern Munich can be very satisfied with the financial results for 2017-18," Bayern CEO Karl-Heinz Rummenigge said in a statement.