Hertha Berlin have elected a new president following their annual general meeting on Friday night.

Werner Gegenbauer received 77.8% of the votes to replace Bernd Schiphorst with nobody standing against the 57-year-old.

It was a positive evening for the club, who were recently awarded a place in the UEFA Cup through the fair play rankings with Germany one of three nations to earn an extra berth in the competition.

An estimated profit of six million euros for the 12 months trading up to June 30, 2008 was reported with the club's debts reduced to 30 million euros in the process.

"We have achieved an extraordinary result financially," said general manager Dieter Hoeness.

Things could be better on the field, though, despite their unexpected qualification for the UEFA Cup.

Berlin ended the Bundesliga campaign with a 4-1 defeat at champions Bayern Munich to finish 10th.

However, coach Lucien Favre was optimistic about improving on that next season.

"I know we want to be fighting for the title at some stage, but next season our aim is to qualify for the UEFA Cup," said the Swiss coach.