Uefa have fined the German Football Association 25,000 euros for the "improper conduct" of fans in the 2-1 win over Denmark at Euro 2012.
Supporters let off fireworks, chanted inappropriately and displayed inappropriate banners and symbols.
Observers from anti-discrimination group Fare reported seeing a neo-Nazi banner in the Germany section.
Germany, who are in semi-final action against Italy on Thursday, can appeal but must do so within 24 hours.
Uefa announced their judgement in a statement on Monday.
The German Football Association has already been been fined 10,000 euros at Euro 2012 after German fans threw what appeared to be rolled up pieces of paper at Portugal players during their 9 June match.