Mohammed Ben Sulayem's Leadership Brings Financial Stability to FIA

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 fiscal year 2024, the Fédération reported that it had 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 improve internal systems and processes radically.

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 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 substantial improvement from 2023, with operating income growth of €+26.7m and +17% year-on-year. At the 2024 fiscal year end, the FIA was free of any financial debt, and it reports a healthy equity ratio of 45%.

Since 2021, the current leadership team has worked rigorously 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 that 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 best to 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 June General Assembly. This year, a new P&L presentation format has enhanced the Activity Report, enhancing clarity and transparency.

The FIA's strengthened financial health has brought the organisation out of a five-year period of substantial operating loss, enabling it to provide a world-class service to its 245 Member Clubs around the world and reinvest in the seven World Championships under its governance.

The FIA, a not-for-profit organisation, is well-placed to continue advancing its core objectives, such as strengthening grassroots participation in motorsport and driving the sustainability agenda across the board.