BORUSSIA DORTMUNDGmbH & Co. Kommanditgesellschaft auf Aktien, Dortmund indicator for the club. In light of steadily growing Measurable criteria include, for example, the transfer sums, free cash flow is thus becoming number of season tickets sold, attendance figures increasingly important. Furthermore, it is an and television broadcast hours. indicator used to determine whether Borussia Dortmund has sufficient funds to finance the steady Awards, surveys and studies represent possible dividend payments to its shareholders. Therefore, criteria that cannot be measured quantitatively. Borussia Dortmund strives to continuously optimise Another "soft" criterion is the deliberate selection free cash flow. of sponsors whose products and brand images are aligned with the Borussia Dortmund brand. Non-financial performance indicators Borussia Dortmund's only non-financial performance Borussia Dortmund's decision-makers receive indicator is the reach of its brand. reports about all criteria on a regular basis. Furthermore, taken as a whole, these are an While it is impossible to measure the reach of indicator of the success of the Company's strategic Borussia Dortmund's brand, it is determined by a alignment. number of criteria that, when taken together, are representative of the brand's reach. Compared to the previous year, there were no Some of these criteria are measureable, while changes to Borussia Dortmund's control system. others are not. Nevertheless, they are a reflection of the Company's appeal. The number of criteria varies and they are thus exchangeable. While any one factor may be of relevance during a given season, this may not necessarily be the case in subsequent years. New media in particular constantly provides new value drivers: for instance, the number of Facebook fans or page impressions represent relatively new indicators. 36