Germany: Werder Bremen record €87.9 million of revenue and a loss of €7.9 million in 2012-13

Werder Bremen (Bundesliga, GER) achieved a turnover of €87.9 million during the 2012-13 season, an increase of €3.8 million (+4.5%) and earnings before tax of €241,000, down 30.7% compared to 2011-12 (€348,000), the club said during its annual general meeting on the 18/11/2013.

The club posted a loss after tax of €7.9 million, but reduced its deficit by 43% compared to the 2011-12 season (€13.9 million), the first season since 1972 in which the club have had a deficit.

"Last year we promised the members a consolidation course with a sense of proportion and now we are showing that the first step is taken," said Klaus Filbry, chairman of the German club. "We are on the right path, even though we have to continue to work really hard. Our positive equity resources allow us to compensate the deficit from the last fiscal year with our own means," added the Werder Bremen chairman.

The club's capital stock amounted to €16.5 million on the 30/06/2013. "We rigorously reduced the cost of the squad and at the same time invested in the sporting quality of the team. Our challenge is to step by step…