Mercedes F1 Reports Post-Tax Loss Of £22.3M As Team's Revenue Grows By £66.3M

The latest accounts of F1 world champion Mercedes show the team is "reaping the financial rewards" of its track dominance, according to Alan Baldwin of REUTERS. Figures published by Mercedes-Benz Grand Prix Ltd. on Tuesday showed a loss after tax of £22.3M in '15 from a previous £76.9M with the team remaining on course to break even. Turnover grew by £66.3M thanks to "additional sponsorship revenues and more money from the sport's commercial rights holder as a result of the team's improved 2014 performance." Mercedes said that its "agreement with the commercial rights holder meant revenue flows based on sporting performance would be 'significantly increased' from 2016 onwards as a result of their track dominance." The team added, "The future outlook for sponsorship revenues is also very promising." Turnover, which does not include any contribution from majority shareholder and Mercedes' parent Daimler, has grown 86% since '11 -- a current £213M compared to £115M (REUTERS, 10/4).