The Confederation of Australian Motor Sport (CAMS) has reported another strong financial result for the year 2016, enabling the Australian motor sport authority to continue investment back into grass-roots motor sport.
The CAMS group recorded record high revenue of $21.3 million in 2016, up 6.5 per cent from the 2015 result of $20 million; this revenue translated into a net surplus of $457,500 (2015: $406,659). CAMS net assets have grown to $8.59 million, with cash reserves of $5.7 million.
CAMS Chief Executive Officer Eugene Arocca said these positive results were driven by continued growth in the core business revenues of licensing, permits and event promotions.
“This result is great for motor sport in Australia; with the CAMS group in a strong financial position, we can continue our investment back into grass roots motor sport without impacting the financial status of the organisation,” Arocca said.
“This means great initiatives such as the ‘Club Development Fund’, which awards grants to CAMS affiliated car clubs to run events to attract new people to motor sport, can continue to grow.
“We have also increased our investment in risk management, officials recruitment and training, junior development and environmental sustainability. Most pleasingly, we have the highest ever recorded number of junior participants.”
In 2016, CAMS also experienced its fourth consecutive year of growth in numbers of licence holders, permitted events and affiliated clubs.
“The 4.8 per cent growth we experienced in licence holders in 2016 was positive; even more pleasing was the fact that this growth was shared across all licence categories, including rally, off road, circuit and speed/non-speed licences,” Arocca said.
“Our number of CAMS affiliated car clubs grew to 561 and we permitted over 2,300 motor sport events throughout the year; speed events and road and rally events experienced the greatest growth, both up by over 12 per cent on 2015.
“We also know that in 2016 we had 83,631 CAMS affiliated car club members; this is a 10 per cent increase on 2015 and is a great result because ultimately CAMS' mission is to have more people enjoying more motor sport.”
The 2016 CAMS Annual Report is available online at www.cams.com.au