Latest news with #ActivityReport
Daily Tribune
20-05-2025
- Automotive
- Daily Tribune
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.
Mid East Info
20-05-2025
- Automotive
- Mid East Info
Ben Sulayem guides FIA to financial turnaround, marking new era of growth and stability - Middle East Business News and Information
Federation reports strongest financial result in almost ten years – operating result of € 4.7m for FY2024, up from operating loss of €-24.0m in 2021 Dubai, UAE, 20th May, 2025: The Fédération Internationale de l'Automobile (FIA), the global governing body for motor sport and the federation for mobility organisations worldwide, today announced a pivotal turnaround in its financial health under the leadership of FIA President Mohammed Ben Sulayem. At the end of the fiscal year 2024, the Fédération reported that is has achieved a robust operating result of € 4.7m, and an operating income of € 182.0m. This takes it from a considerable financial loss of €-24.0m in 2021, before Ben Sulayem was elected. In line with Ben Sulayem's manifesto pledge, and under the FIA's new leadership since 2021, the organisation has undergone a comprehensive strategic transformation process, designed to radically improve internal systems and processes. It has strengthened its teams, optimised its working practices and shifted to a more efficient and financially sustainable model. Today's result, which will be published in full in the FIA's 2024 Activity Report in June, reflects this positive transition. '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. 'Improving the governance, transparency and financial health of the FIA was central to my manifesto pledge, and I will continue to work with all of our internal and external stakeholders to drive positive change within the FIA, to deliver better outcomes for our Member Clubs, our people and for all.' The operating result of € 4.7m marks a strong improvement from 2023, with operating income growth of €+26.7m respectively +17% year-on-year. The FIA is absent of any financial debt at the 2024 fiscal year end, and it reports a healthy equity ratio of 45%. The current leadership team has worked rigorously since 2021 to ameliorate its internal systems, controls and processes. It has strongly enhanced procurement control and automation, implemented internal quarterly reporting, and established a financial steering model which enables effective decision making within senior management. This model has enabled increased budget control and has allowed the FIA to review its pricing and reallocate resources to best pursue its strategic priorities across motor sport and mobility. In addition to these important measures, the FIA has introduced a second General Assembly mid-year, to ensure that prior year audited financial accounts can be established within the appropriate timeframe for release. For the second year running, the FIA will publish a full Activity Report ahead of the General Assembly in June. This year, the Activity Report has been enhanced by a new P&L presentation format which enhances clarity and transparency. The strengthened financial health of the FIA brings the organisation out of a five-year long period of substantial operating loss, enabling it to provide a world-class service to its 245 Member Clubs around the world, as well as reinvest into the seven World Championships under its governance. The FIA, which is a not-for-profit organisation, is well-placed to continue pushing forward its core objectives such as strengthening grassroots participation in motor sport and driving the sustainability agenda across the board. Caption: FIA President Mohammed Ben Sulayem – 'Improving the governance, transparency and financial health of the FIA was central to my manifesto pledge.' -ENDS- Notes to Editors: The Fédération Internationale de l'Automobile (FIA) is the governing body for world motorsport and the federation for mobility organisations globally. It is a non-profit organisation committed to driving innovation and championing safety, sustainability and equality across motor sport and mobility. Founded in 1904, with offices in Paris, London and Geneva, the FIA brings together 245 Member Organisations across five continents, representing millions of road users, motor sport professionals and volunteers. It develops and enforces regulations for motor sport, including seven FIA World Championships, to ensure worldwide competitions are safe and fair for all.
Business Wire
20-05-2025
- Automotive
- Business Wire
FIA Delivers Financial Turnaround, Marking New Era of Growth and Stability
PARIS--(BUSINESS WIRE)--The Fédération Internationale de l'Automobile (FIA), the global governing body for motor sport and the federation for mobility organisations worldwide, has today announced a pivotal turnaround in the financial health of the Fédération, under the leadership of FIA President Mohammed Ben Sulayem. At the end of the fiscal year 2024, the Fédération is pleased to report that is has achieved a robust operating result of € 4.7m, and an operating income of € 182.0m. This takes it from a considerable financial loss of €-24.0m in 2021, before President Mohammed Ben Sulayem was elected. In line with the President Mohammed Ben Sulayem's manifesto pledge, and under the FIA's new leadership since 2021, the organisation has undergone a comprehensive strategic transformation process, designed to radically improve internal systems and processes. It has strengthened its teams, optimised its working practices and shifted to a more efficient and financially sustainable model. Today's result, which will be published in full in the FIA's 2024 Activity Report in June, reflects this positive transition. The operating result of € 4.7m marks a strong improvement from 2023, with operating income growth of €+26.7m respectively +17% year-on-year. The FIA is absent of any financial debt at the 2024 fiscal year end, and it reports a healthy equity ratio of 45%. The current leadership team has worked rigorously since 2021 to ameliorate its internal systems, controls and processes. It has strongly enhanced procurement control and automation, implemented internal quarterly reporting, and established a financial steering model which enables effective decision making within senior management. This model has enabled increased budget control and has allowed the FIA to review its pricing and reallocate resources to best pursue its strategic priorities across motor sport and mobility. In addition to these important measures, the FIA has introduced a second General Assembly mid-year, to ensure that prior year audited financial accounts can be established within the appropriate timeframe for release. For the second year running, the FIA will publish a full Activity Report in May 2025, ahead of the General Assembly in June. This year, the Activity Report has been enhanced by a new P&L presentation format which enhances clarity and transparency. The strengthened financial health of the FIA brings the organisation out of a five-year long period of substantial operating loss, enabling it to provide a world-class service to its 245 Member Clubs around the world, as well as reinvest into the seven World Championships under its governance. The FIA, which is a not-for-profit organisation, is well-placed to continue pushing forward its core objectives such as strengthening grassroots participation in motor sport and driving the sustainability agenda across the board. Mohammed Ben Sulayem, President at the FIA, said: 'Upon my election as President of the FIA, I committed to ensuring a profitable operation. Today I am incredibly proud to show that we have achieved this mission, delivering the strongest set of financial results in eight years. Improving the governance, transparency and financial health of the FIA was central to my manifesto pledge, and I will continue to work with all of our internal and external stakeholders to drive positive change within the FIA, to deliver better outcomes for our Member Clubs, our people and for all.' The Fédération Internationale de l'Automobile (FIA) is the governing body for world motor sport and the federation for mobility organisations globally. It is a non-profit organisation committed to driving innovation and championing safety, sustainability and equality across motor sport and mobility. Founded in 1904, with offices in Paris, London and Geneva, the FIA brings together 245 Member Organisations across five continents, representing millions of road users, motor sport professionals and volunteers. It develops and enforces regulations for motor sport, including seven FIA World Championships, to ensure worldwide competitions are safe and fair for all.
Yahoo
29-01-2025
- Business
- Yahoo
Austral Gold Files Q4 2024 Quarterly Activity Report
Sydney, Australia--(Newsfile Corp. - January 29, 2025) - Established gold producer Austral Gold Limited (ASX: AGD) (TSXV: AGLD) (OTCQB: AGLDF) (Austral or the Company) is pleased to announce that it has filed its Q4 2024 Quarterly Activity Report. The complete Report is available under the Company's profile at and on the Company's website at Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Release approved by the Chief Executive Officer of Austral Gold, Stabro Kasaneva. For additional information please contact: David Hwang Jose Bordogna Joint Company Secretary Chief Financial Officer and Joint Company Secretary Austral Gold Limited Austral Gold Limited david@ +61 433 292 290 +61 466 892 307 To view the source version of this press release, please visit Sign in to access your portfolio
