The International Equestrian Federation (FEI) has announced a modest net result of CHF1.27 million (£978,000/$1.28 million/€1.09 million) for the Olympic year of 2016.
Revenues rose strongly to CHF54.1 million (£41.7 million/$54.6 million/€46.5 million), from CHF46.1 million (£35.5 million/$46.6 million/€39.6 million) in 2015.
However, expenses were up too from CHF43.7 million (£33.6 million/$44.1 million/€37.6 million) to CHF53 million (£40.8 million/$53.5 million/€45.6 million).
The body received a CHF16.2 million (£12.5 million/$16.4 million/€13.9 million) contribution from the International Olympic Committee (IOC) in the latest period.
The bulk of this – CHF13.4 million (£10.3 million/$13.5 million/€11.5 million) - was paid into the Federation’s IOC fund, however, leaving a net contribution to the 2016 revenue total of CHF2.8 million (£2.2 million/$2.8 million/€2.4 million).
Commercial revenue reached fractionally under CHF27.5 million (£21.2 million/$27.8 million/€23.65 million), broadly half the total; operational revenue weighed in at CHF17.8 million (£13.7 million/$18 million/€15.3 million).
On the expense side, staff charges rose from CHF12.1 million (£9.3 million/$12.2 million/€10.4 million) to CHF12.8 million (£9.9 million/$12.9 million/€11 million).
Expenses related to the body’s medication control programme more than doubled to CHF4 million (£3.1 million/$4.5 million/€3.4 million).
The balance-sheet showed a big jump in the "provisions and other" category, from CHF4.8 million (£3.7 million/$4.9 million/€4.1 million) to CHF8.37 million (£6.4 million/$8.5 million/€7.2 million).
According to the FEI, "provisions were increased at the end of 2016 by decision of the FEI Bureau to cover prize money for the FEI Nations Cup Jumping Final 2017 and other projects related to archiving of FEI TV content, as well as human and horse anti-doping research projects started in 2017".
Longines, the timekeeper, has now been announced as title partner of the Nations Cup jumping series from 2018.