Recently released documents from the UK’s Companies House show that Red Bull’s spending has increased, but so has its profits.
Red Bull’s accounts filings for 2018 reveal that the company had a turnover of almost quarter of a billion pounds in 2018.
The documents, released earlier this week, contain some interesting financial information about the team in 2018 as they went through their final year with Renault power. Turnover increased from 231 million pounds to 245 million pounds, with profits (after tax) increasing to £923,000 from 2017’s £575,000.
The company’s statements outline that Red Bull GmbH, the parent company that owns RBR, has indicated that it has no plans to change anything that would affect the running of the team. However, RBR say that the new Commercial and Regulatory framework for Formula 1 that is being put in place for post-2020 will need to be attractive in order to continue to hold onto Red Bull’s support.
The team’s dues to creditors has also dropped from £32.6 million down to £31 million, while their assets have risen by half a million. Performance bonuses have risen as a result of the team’s reasonable level of success in 2018, scoring P3 in the Constructor’s Championship as well as their four victories. The company says that the increased costs in their statements are largely a reflection of these performance bonuses.
The highest paid director, believed to Christian Horner, was paid £1,370,000 for 2018 by the racing team but, as Horner is involved within other sectors of the Red Bull company (like Red Bull Technologies), his take-home pay is likely higher than that. The other directors are Dr. Helmut Marko and Red Bull’s overall owner Dietrich Matechitz.
The full statement can be read here.
