FORMULA E OPERATIONS LIMITED

Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. About these numbers

Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.

Accounting basis

IFRS

Reporting scope

Standalone (parent only)

Auditor

Deloitte LLP

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“As the Company relies on the support of its parent company, the directors of the Formula E Holdings Limited provided a letter of support to ensure adequate funding for a period of at least 12 months from the date of signing these financial statements, the going concern basis is adopted.”

Group structure

1. FORMULA E OPERATIONS LIMITED · parent
   1. Formula E Race Operations Ltd 100% · United Kingdom · Provision of race related activities and race support
   2. Formula E Publishing Ltd 100% · United Kingdom · Licencing
   3. Formula E Spain Operations S.L. 100% · Spain · Storage & warehouse facilities
   4. Formula E Mexico Race Operations, S.de R.L.de C.V. 0.03% · Mexico · Management of race activities in Mexico
   5. Formula E Enterprise, Inc 100% · USA · Management of race activities in the USA
   6. Formula E Brazil, Ltda 100% · Brazil · Management of race activities in Brazil

Significant events

• “During the financial year, the Company closed its subsidiary in Chile - Formula E Chile SpA - as the Group no longer organises racing events in Chile.”
• “The current financial period covers the tenth season of the championship. The Group delivered ten venues and sixteen races, with Shanghai, Tokyo and Misano replacing Jakarta, Hyderabad, Cape Town and Rome.”
• “On October 2, 2024, the acquisition of the shares sold by Warner Bros. Discovery to Liberty Global was completed and resulted in the majority ownership of the Group by Liberty Global (65.6%).”
• “In March 2025, a proposed transaction for the sale of the Maserati MSG Formula E team collapsed. Formula E have now taken temporary ownership of the team and will provide support whilst exploring alternative ownership.”

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

5

last 12 months

Capital events

0

last 24 months

Officers appointed

0

last 12 months

Officers resigned

1

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.

• Turnover

  -13.8%

  £190,610,275 → £164,344,648

• Cash

  -16.6%

  £18,159,942 → £15,145,439

• Net assets

  -27.7%

  -£247,020,196 → -£315,323,294

• Employees

  +4.5%

  155 → 162

• Operating profit

  -74.5%

  -£36,610,207 → -£63,890,179

• Profit before tax

  -87.4%

  -£36,214,116 → -£67,879,787

• Wages

  -8.4%

  £15,320,895 → £14,036,134

Each % is (latest − prior) ÷ |prior| for the line item as filed. The comparison is only shown when the latest and prior accounts cover broadly equal-length periods — short or long stubs (typical around incorporation or a year-end change) are suppressed rather than misrepresented. Lines a company doesn't report are omitted. About these numbers