Ben Sulayem Leads FIA to Financial Turnaround, Ushering in Era of Stability and Growth

Government

Ben Sulayem Leads FIA to Financial Turnaround, Ushering in Era of Stability and Growth

The Fédération Internationale de l'Automobile (FIA) has announced a major financial turnaround under the leadership of President Mohammed Ben Sulayem, marking the strongest financial performance for the organization in nearly a decade. The FIA reported an operating profit of €4.7 million for FY2024, a sharp reversal from a €24.0 million operating loss in 2021, the year before Ben Sulayem took office.

The FIA, the global governing body for motorsport and federation for mobility organizations, also reported operating income of €182.0 million for the fiscal year, representing a 17% year-on-year increase (€+26.7 million). With no financial debt and an equity ratio of 45%, the FIA is now positioned for long-term financial sustainability.

“Upon my election as President of the FIA, I committed to ensuring a profitable operation,” said Mohammed 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.”

Strategic Overhaul Delivers Results

Since taking office in 2021, Ben Sulayem and the new leadership team have launched a strategic transformation focused on governance reform, financial transparency, and operational efficiency. Key measures include:

Enhanced procurement control and automation
Quarterly internal financial reporting
A financial steering model for agile decision-making
Increased budget oversight and resource reallocation
Mid-year General Assembly for timely financial disclosures

These initiatives have enabled the FIA to not only reverse its financial trajectory but also better support its 245 Member Clubs worldwide and strengthen the seven World Championships under its governance.

Commitment to Transparency and Sustainability

In a continued effort to enhance transparency, the FIA will release its 2024 Activity Report ahead of the General Assembly in June, featuring an updated profit and loss presentation. This marks the second consecutive year the report will be published before the mid-year assembly, a move aimed at improving governance and accountability.

The FIA’s renewed financial health supports its broader mission to promote grassroots motorsport participation and advance its global sustainability initiatives, all within its framework as a not-for-profit organization.