Motorsport Australia has released its audited financial results recording a strong financial turnaround and a return to a surplus for the 2024 financial year.

Key Points

• 2024 EBITDA surplus of $561,745
• 2024 Net result of $16,712 surplus
• Strong Balance Sheet with Net Assets above $10m
• $1,077,640 positive turnaround on the 2023 net deficit result of ($1,060,928)

This positive result is a testament to strong financial management and strategic cost control. Returning to a surplus position enables Motorsport Australia to better support members, officials, and competitors from a platform of stability.

Despite the positive financial result, challenges remain for the sport, with insurance and inflationary pressures continuing to have an impact. This reinforces the importance of effective financial management and long-term sustainability planning underpinned by strategic risk and safety management.

Motorsport Australia CEO Sunil Vohra said the turnaround reflected the organisation’s commitment to a strong and stable future for members.

“This result highlights the hard work and dedication of the Motorsport Australia team in managing financial performance and ensuring Motorsport Australia is well placed to best serve the sport,” Vohra said.

“We are now in a stronger position to focus on the key areas of the sport, including grassroots competitors, development pathways, and enhanced training opportunities for our volunteer officials.”

CFO Mark Lawrence credited a combination of strategic decision-making and operational efficiencies for the organisation’s positive financial position.

“Our focus has been on ensuring long-term financial sustainability, and this result is a reflection of disciplined financial management and smart operational strategies,” Lawrence said. 

“The turnaround was achieved without compromising our core mission – to facilitate safe and fair participation.”

Motorsport Australia President Andrew Fraser welcomed the outcome ahead of tonight’s Annual Member Forum.

“This is an important outcome for Motorsport Australia and a credit to everyone who has supported the organisation,” Fraser said.

“The financial stability delivered through this financial result better arms us to support the future of the sport, providing more opportunities for competitors, clubs, and officials at all levels.”

Motorsport Australia will continue to focus on financial sustainability, while reinvesting in the sport to deliver ongoing growth, participation and development for its members.