Ben Sulayem leads FIA to major financial recovery with best results in almost a decade

Dubai: The Federation Internationale de l’Automobile has reported its strongest financial performance in almost 10 years, marking a significant turnaround under the presidency of Mohammed Ben Sulayem.

According to figures released this week, the global governing body for motorsport and mobility organisations achieved an operating result of €4.7 million ($5.2 million) for the fiscal year 2024, a dramatic recovery from the €24 million loss recorded in 2021, the year before Ben Sulayem took office.

The turnaround is attributed to a wide-ranging strategic transformation led by the administration. Since taking office, Ben Sulayem has prioritized reforms in financial governance, transparency and operational efficiency across the organization.

“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.”

The FIA reported a total operating income of €182 million for 2024, a 17 percent year-on-year increase, with no outstanding financial debt and an equity ratio of 45 percent, signaling improved financial stability.

Key reforms introduced since 2021 include strengthened procurement controls, the introduction of quarterly internal reporting and a robust financial steering model. These changes have improved budget oversight and allowed the FIA to better allocate resources in line with its strategic objectives across both motorsport and mobility.

The federation also introduced a mid-year general assembly, ensuring more timely financial accountability, and will publish its second consecutive annual activity report ahead of the 2024 general