The Finance Forum provided an overview of the financial position of the ITTF Group, including balance sheet, income statement analysis and an overview of various incomes and expenses, as well as an update on how it has been financially impacted by COVID-19, and the report of the ITTF Group finances’ audit by Mazars.

In all there were three parts covered during the presentation, outlining an in-depth summary of ITTF Group’s financial reflections and forecasts:

• 2020 Financial Statements
• 2021 Financial Update
• Finances Beyond 2021

The speakers updating attendees on the financial report included Petra Sörling, ITTF Executive Vice President (Finances), Michael Brown, ITTF Group Chief Financial Officer, and Michael Ackermann, ITTF Auditor at Mazars

“Of course, how to minimize the impact of the pandemic on business’s performances and, most importantly, on our sport was the highest priority. From mid-March 2020, we started a taskforce group led by our CFO, Michael Brown. This group met frequently, sometimes every day, to give advice to the senior management but also to the Executive Committee. As ITTF President Thomas Weikert said at that time; there is no good solutions, there is only solutions. We have to take brave decisions and not always pleasant ones. It included cuts in salaries and cuts in projects, but it was all done to secure that the ITTF is here in the future, after the pandemic.” – Petra Sörling, ITTF Executive Vice President (Finances)

“Although the pandemic caused a multitude of issues, the decisive actions taken early allowed the ITTF to stabilise their finances. The future looks promising as international events start to recommence, and we look forward to growing our revenues in the coming years, so that we can further invest into the growth and development of table tennis.” – Michael Brown, ITTF Group Chief Financial Officer

Watch the full presentation here

The Annual General Meeting of the International Table Tennis Federation will be held on 24 November 2021, on the occasion of the 2021 ITTF World Championship Finals in Houston, Texas. Prior to it, the ITTF Group is hosting a series of videoconferences from 18 October to 15 November, featuring presentations for the global Table Tennis community. Delegates registered officially for the 2021 Annual General Meeting will be receiving the invitations for each of the videoconferences. The schedule of the 2021 ITTF AGM Videoconferences series is available here.

For further information, please contact: [email protected]