Wednesday, 9 June 2021
The International Ski Federation (FIS) has defied the pandemic by reporting financial results for the COVID-impacted year of 2020 that were significantly better than originally budgeted.
The Federation, now under the leadership of Johan Eliasch, its newly-elected President, has disclosed an overall profit for the year of CHF1.47 million (£1.16 million/$1.64 million/€1.35 million).
Though modest, this compares with a loss of CHF14.3 million (£11.3 million/$15.9 million/€13.1 million) originally projected in a working budget posted on the body’s website.
The main areas of improvement were two-fold.
First, income was far better than originally forecast at CHF22.8 million (£18 million/$25.5 million/€21 million).
Treasurer Mats Arjes explained this to attendees at the 52nd FIS Congress in the following terms.