BORUSSIA DORTMUNDGmbH & Co. Kommanditgesellschaft auf Aktien, Dortmund OVERALL ASSESSMENT OF FINANCIAL POSITION AND PERFORMANCE AND BUSINESS DEVELOPMENT Borussia Dortmund ended the 2020/2021 financial The ongoing COVID-19 pandemic continued to year with a net loss for the year of EUR 76,479 weigh heavily on profitability and ultimately thousand. earnings in the 2020/2021 season. The effects of the pandemic are particularly clear in match Taking into account the net loss for the year, the operations and conference, catering and equity ratio is calculated at 56.83%. As at 30 June miscellaneous. The transfer business has also 2021, Borussia Dortmund held unrestricted cash taken a major hit to its sales figures. Given this, funds of EUR 3,466 thousand. As at the balance business development during financial year sheet date, Borussia Dortmund had access to an 2020/2021 was less than satisfactory. additional EUR 120,000 thousand in overdraft facilities, some of which had been drawn down. REMUNERATION REPORT The structure of the management remuneration remuneration. Any additional non-cash or ancillary system is defined and regularly reviewed by the benefits granted relate primarily to insurance Executive Committee of the Advisory Board. The benefits at standard market conditions and the Executive Committee of the Advisory Board of provision of a company car. The Company does not Borussia Dortmund Geschäftsführungs-GmbH is offer any stock option plans or similar incentive also responsible for setting the remuneration of the plans. The remuneration components provided are individual executives and for defining the appro- reasonable both in and of themselves and taken as priate amount of remuneration. The appropriate a whole (see Note 36 to the consolidated financial remuneration level is defined in particular on the statements). basis of the specific executive's responsibilities and performance, as well as on the basis of Borussia Remuneration of the Supervisory Board is gover- Dortmund's financial position, performance and ned by Article 13 of the Articles of Association, pur- future prospects. suant to which each member of the Supervisory Board receives fixed remuneration amounting to Executive remuneration consists of two compo- EUR 24 thousand; the Chairman receives twice that nents: a fixed amount and a variable component. amount and the Deputy Chairman one and a half The fixed component is stipulated by contract, times that amount. Value added tax is reimbursed takes into account the sporting success achieved to the members of the Supervisory Board. and is paid out in twelve equal monthly instal- ments. The variable component is based on the The disclosures required by § 285 no. 9 HGB are business trend and is dependent on net income for included in the notes to the financial statements the year before tax and the managing directors' under the section entitled "General partner". 64