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UIM F2 – Tønsberg Turns A Profit

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Joyce Christine Andersen, the general manager of the Tønsberg Båtrace AS, which has held rounds of the UIM F2 World Championship for the last 2 years, announced some cheering financial news today.

The race made a profit last year after a loss of NOK 60,000 in 2015.

Andersen commented:

We came away with a NOK 50,000 profit in 2016.
It was important, almost critical, that we delivered a profit last year.

The event increased revenue to NOK 977,000 in 2016, compared to NOK 650,000 the previous year.

The company, which organizes World Championships in Tønsberg the first weekend also in August this year, also reduced its short-term debt by just over NOK 30,000 to 134,000.

We are very pleased with the numbers.
Our hope is that the race will become an annual event, and then we have to build it ‘stone by stone’.
There are many things we want to improve at the event, but we adapt to the income and do not overstate much.

She boasts the cooperation with the hotels and restaurants in Brygga, with the municipality, the volunteers efforts and solid supporters in the business community.

We have a group of sponsors who are committed to being involved for a long period of time and thus we have a solid foundation.

She continued;

Everyone who deals with sports events has challenges with the liquidity, but we have partners who go in and pay when fees etc. are due.
This does not mean the people behind the event can rest this year.
Most of the increase in revenue last year is due to NOK 200,000 in support of Vestfold County Municipality.
This is not money we are secured this year.
We are going to apply for course, but there are many about the leg.
We appreciate the arrangement support from the municipality of Tønsberg, but it is crucial that we follow closely and closely the sponsors throughout the year.
We are doing this well, and we really feel that the city and the business community appreciate what we are getting.
Very much is fixed expenses, but we believe we have managed to shave the expenses as much as possible.
The income side looks good, so I’m optimistic about this year’s boat weekend.

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