The MotoGP is preparing for his movie debut
The change authorizes you to do this activity and contained in the Trade Registry Gazette dated 22 March. From Dorna Sports explained, however, that there is no project in the making. Not even in anticipation. The company only has anticipated a future stage. “We studied how evolving media and new technologies and believe that with the growing demand for content is important to be prepared for that in the event of any interesting proposal, we comply with legal requirements,” says Enrique Aldama , Director of Finance and Operations.
Although for now Dorna Sports is just going a step ahead, the truth is that the film would be an opportunity to generate extra income, consistent with the diversification strategy the company has taken since the crisis began.
Enrique Aldama says this approach has made them more vigorously explore markets such as Asia, where from 2009 began to sell the broadcast rights of the MotoGP World Championship and where, since then, have attracted powerful supporters. For example, Air Asia, the largest low cost airline in that continent. Aldama notes: “That’s the advantage of offering a global product.”
Internationalization is also an accounting effect . Comparing the results of Dorna Sports in 2009 (the last deposited in the Mercantile Register of Madrid) with those for 2008 show a striking discrepancy: in the most recent year the company won more than 20.5 million euros while previous year had conceded a loss of 4.9 million euros. Although the yield from the farm explains part of this difference ( revenues increased 7.2 million ), the main reason is related to the fluctuation of currency and its impact on loans contracted by Dorna Sports. “Part of our funding is made in dollars and we are required to be recorded in our accounts, the currency exchange differences,” argues the chief financial officer.
Spain and Italy, reference
Over 64% of the turnover of Dorna Sports in 2009 sales came from abroad . In 2008, they accounted for almost 62%. Therefore, the number of overseas business evolves. But as the World Motorcycling Championship, where 35% of revenues are generated in Spain highlights the weight that the sport is in the country. In fact, in Italian, are the two relevant markets for Dorna Sports.
Opting for Spain increased last year, when the World Cup circuit Motorland added Aragon to the competition schedule. Currently, four championship races are held within the national territory: the Grand Prix of Spain in Jerez, the Grand Prix of Catalunya, in Montmelo, the Grand Prix of Aragon, in Alcaniz, and the Grand Prix of Valencia in Cheste.
According to estimates by Enrique Aldama, this new circuit will increase between 7% and 10% of business generated in Spain in 2010. In addition, the financial director of Dorna Sports confirmed the estimates for that year collected by the balance of 2009, which provides a benefit close to 17 million euros. Aldama explains that to determine the amount taken roughly 10% of total sales last year, in this case 2009, when the company made a cash amount of more than 161 million.