F1 shows falling revenues

The new owner of the F1, Liberty Media, as usual, communicated its financial results for the second quarter of 2018. The American entity thus displays an overall turnover down compared to the same period of 2017, falling from 616 million from dollars (537,31 million euros) to 585 million dollars (510,27 million euros).

Operating profit also increased from $45 million (€39,25 million) to $14 million (€12,21 million). Another notable figure in the results displayed by the discipline, the amounts paid to the teams, which increased from 330 million dollars (287,84 million euros) to 307 million dollars (267,78 million euros).

Liberty Media, on the other hand, continues its efforts to reduce F1's debt, which decreased by 354 million dollars (308,78 million euros), from 5,381 billion dollars (4,69 billion euros). ) ) $5,027 billion ($4,38 billion), with $125 million repaid from its “revolving credit facility. »

“TV broadcast revenues decreased due to the slight decrease in proportional recognition of season revenue during the quarter (with 7 of 21 races in the second quarter of 2018 compared to 7 of 20 races scheduled in the second quarter of 2017), comments Liberty Media.

Revenues from race promotion, as well as advertising and sponsorship, declined in the second quarter, mainly due to different calendar events: an additional European race taking place in the second quarter of 2018, versus an additional distant trip in 2017 (in Russia) partially offset by inflation of amounts in the underlying contracts. Typically, races such as the Russian Grand Prix carry higher promotion fees than European races. »

Liberty Media also announces an increase in revenue related to parts provided to teams F2.