Eurospeedway turns another profit

EuroSpeedway Lausitz has reinforced its position as the most profitable racetrack in Germany. The announcement came from the two managing partners of EuroSpeedway Lausitz GmbH, Hans-Jörg Fischer (41) and Matthias Tomasetti (40), with the publication of the company's 2007 financial statement. The operating profit of 1.2 million euros represented an increase just shy of 20 percent on the previous year's result (2006; 1.004 million euros).

In recording another record profit EuroSpeedway Lausitz GmbH has clearly extended its lead over all other permanent racetracks in Germany. In contrast to the usual subsidy practice at German racetracks, and contrary to the view still widely held by the public, EuroSpeedway Lausitz GmbH performed without one penny of public funding. Nor does the entirely privately run company have any plans to claim public subsidies in the future.

EuroSpeedway Lausitz GmbH has submitted another bid under the current public invitation to tender to run the racetrack and test circuit from 2009. EuroSpeedway Lausitz GmbH has also been granted a notarized pre-emptive right by its owner, Förderverein Lausitz Ring e.V., to buy the 370-hectare complex and intends to exercise this right.

"The operating profit for 2007 once again confirms that we have been adopting the right strategy since 2004", commented Hans-Jörg Fischer, managing partner of EuroSpeedway Lausitz GmbH, "and we intend to maintain our lead in the years to come."

EuroSpeedway Lausitz GmbH has been running the motor sports, test and entertainment complex in the Lausitz region since 2004 under a five-year lease agreement. The company turned the business around within a year since its takeover. 2006 was the first financial year to see operating profits in the millions. Having yielded 5.1 million euros in tax since 2004 EuroSpeedway Lausitz is the biggest taxpayer in the county. In 2007 taxes totaling 1.263 million euros were paid into the public purse. The local authority of the county of Schipkau benefited directly to the tune of 236,000 euros.

The track utilization rate has increased from 78.9 percent in 2004 to 95.1 percent in 2007. Fischer and Tomasetti, who each hold 50 percent of the shares in EuroSpeedway Lausitz GmbH, are expecting a further increase in utilization to 98.9 percent in the current fiscal year of 2008.

EuroSpeedway Lausitz serves a broad range of clients. Besides its main function as an arena for motor sports events, tests and training – representing some 50 percent of its overall use – the complex was particularly popular with the German automotive industry in 2007 for showcasing its products, representing a share of 18.22 percent. In 2007 a total of 800,426 visitors attended the 14 spectator events and used the diverse range of services offered by EuroSpeedway Lausitz GmbH.