FIA posts €4.7m operating profit in 2024

The International Automobile Federation (FIA) has reported an operating profit of €4.7 million (US$5.3 million) in 2024, marking its strongest set of financial results in eight years.

Confirmed:

• Operating income was €182 million (US$205 million), representing a 17 per cent year-over-year (YoY) increase
• The FIA had no fiscal debt at year end and reported an equity ratio of 45 per cent

Context:

This ends five straight years of operating losses for the FIA. Before Mohammed Ben Sulayem was elected president, the governing body posted a loss of €24 million (US$27 million) in 2021. Since then, the organisation has slowly been generating more money and can now boast its strongest financial results in almost a decade.

As a not-for-profit organisation, these funds can now be directly reinvested by the FIA back into the seven world championships and its member clubs. In addition, the FIA has introduced a second General Assembly mid year to ensure that the previous year’s financial accounts can be finalised for release within the appropriate timeframe.

Comment:

“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.”

Coming next:

Ben Sulayem is expected to seek a second term as FIA president, with the election set to take place on 12th December this year. Though no other candidates are yet to officially throw their hat into the ring, two-time World Rally Championship (WRC) champion Carlos Sainz Sr is considering running and his potential bid appears to be generating significant support. This good news story about the FIA is exactly what Ben Sulayem needs to reinforce his position. 

Go deeper:

• Five predictions for the motorsport industry in 2025
• Shaila-Ann Rao makes shock FIA return as Mohammed Ben Sulayem’s adviser