Mercedes F1 loses 24.5 million Euros for 2015
In its financial statement for 2015 the Mercedes-Benz Grand Prix Limited team, recorded total losses amounting to 24.5 million Euros after tax. These results are, however, an improvement on 2014, when the team lost 83.7 million Euros.
The Mercedes F1 team today released its financial report for the year 2015. The team’s losses amount to 24.5 million Euros after all charges have been paid. These results show a significant improvement compared to 2014 when the losses for the German-British team reached 83.7 million Euros.
In Formula 1, there are a number of key factors: the drivers, the chassis, the power unit, the right technology, the necessary budget, and the best people. You have to make the right decisions in these areas and ensure they work well together, says Toto Wolff, executive sports director.
Recall that at the beginning of 2011, the team increased its revenue by 86% a year after acquiring the former Honda team from Ross Brawn.
« But there is one factor that money cannot buy: time. Our main stakeholders have given us the time for the elements to come together and work. This has been a key factor in our success. » adds the Austrian leader.
However, the Germans will be able to count on the bonuses paid by the holders of the commercial rights of Formula 1 to reward them for their 2014 and 2015 titles. This bonus is significant as it amounts to 32 million Euros.
Simultaneously, the financial goals set by the shareholders were met as the company’s revenue increased by 72.9 million Euros.
« You must be independent, agile, and able to make quick decisions. The board of directors of Daimler, led by Dieter Zetsche, understands this. » concludes Wolff.
In summary, the Mercedes F1 team is in very good financial health as the losses of 2015 are largely offset by the various bonuses paid and the increase in the team’s revenue thanks to sponsorship.
