FIA Reports Major Financial Turnaround Under President Mohammed Ben Sulayem
The Fédération Internationale de l'Automobile (FIA), the global governing body for motor sport and mobility organisations, has announced a significant financial recovery under the leadership of President Mohammed Ben Sulayem.
According to the FIA's fiscal year 2024 report, the organisation recorded a solid operating result of €4.7 million and an operating income of €182 million. This marks a dramatic reversal from a €24 million operating loss in 2021, prior to Ben Sulayem's election.
The financial upturn comes as a direct result of a comprehensive strategic transformation initiated by Ben Sulayem in line with the promises of his presidential manifesto. Since taking office in 2021, the FIA leadership has focused on strengthening internal operations, streamlining processes, and establishing a more sustainable financial framework.
'Upon my election as President of the FIA, I committed to ensuring a profitable operation,' said Ben Sulayem. 'Today, I am incredibly proud to show that we have achieved this mission, delivering the strongest set of financial results in eight years.'
Ben Sulayem emphasized that governance reform, transparency, and financial health were key pillars of his leadership agenda, and pledged to continue working with internal teams and external stakeholders to deliver sustained improvements across the organisation.
The operating income reflects a €26.7 million increase from 2023, representing 17% year-on-year growth. The FIA now operates with zero financial debt and boasts a healthy equity ratio of 45%.
Key reforms under the new administration include enhanced procurement controls, the introduction of internal quarterly reporting, and a financial steering model designed to support strategic decision-making. These measures have improved budget control, pricing strategies, and resource allocation across the FIA's motorsport and mobility divisions.
To further improve accountability, the FIA also introduced a mid-year General Assembly, ensuring timely approval of audited financial statements. For the second consecutive year, the organisation will publish a comprehensive Activity Report in June, now featuring a new profit-and-loss format for improved clarity and transparency.
This financial recovery ends a five-year period of operating losses, putting the FIA in a strong position to continue delivering value to its 245 Member Clubs worldwide. The improved fiscal position also allows for reinvestment into the seven World Championships it oversees, as well as grassroots motorsport and broader sustainability efforts.
As a not-for-profit organisation, the FIA now looks ahead with renewed confidence, aiming to enhance its global impact both on and off the track.
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The Fédération Internationale de l'Automobile (FIA), the global governing body for motor sport and mobility organisations, has announced a significant financial recovery under the leadership of President Mohammed Ben Sulayem. According to the FIA's fiscal year 2024 report, the organisation recorded a solid operating result of €4.7 million and an operating income of €182 million. This marks a dramatic reversal from a €24 million operating loss in 2021, prior to Ben Sulayem's election. The financial upturn comes as a direct result of a comprehensive strategic transformation initiated by Ben Sulayem in line with the promises of his presidential manifesto. Since taking office in 2021, the FIA leadership has focused on strengthening internal operations, streamlining processes, and establishing a more sustainable financial framework. 'Upon my election as President of the FIA, I committed to ensuring a profitable operation,' said Ben Sulayem. 'Today, I am incredibly proud to show that we have achieved this mission, delivering the strongest set of financial results in eight years.' Ben Sulayem emphasized that governance reform, transparency, and financial health were key pillars of his leadership agenda, and pledged to continue working with internal teams and external stakeholders to deliver sustained improvements across the organisation. The operating income reflects a €26.7 million increase from 2023, representing 17% year-on-year growth. The FIA now operates with zero financial debt and boasts a healthy equity ratio of 45%. Key reforms under the new administration include enhanced procurement controls, the introduction of internal quarterly reporting, and a financial steering model designed to support strategic decision-making. These measures have improved budget control, pricing strategies, and resource allocation across the FIA's motorsport and mobility divisions. To further improve accountability, the FIA also introduced a mid-year General Assembly, ensuring timely approval of audited financial statements. For the second consecutive year, the organisation will publish a comprehensive Activity Report in June, now featuring a new profit-and-loss format for improved clarity and transparency. This financial recovery ends a five-year period of operating losses, putting the FIA in a strong position to continue delivering value to its 245 Member Clubs worldwide. The improved fiscal position also allows for reinvestment into the seven World Championships it oversees, as well as grassroots motorsport and broader sustainability efforts. As a not-for-profit organisation, the FIA now looks ahead with renewed confidence, aiming to enhance its global impact both on and off the track.
