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Formula E turns profitable in Season 5!
After piling on the losses since its inception in 2014, the all-electric Formula E series has finally recorded its first profit, thanks to record revenue and sponsorship growth. Formula E's fifth campaign produced a 50% increase in revenue, raking in $220.54 million while EBITDA (earnings before interest, tax, depreciation and amortization) was positive for the first time, with a little over $1 million going to the series' bottom line. That contrasts with the massive 26.4 million loss registered in season 4, with the fiscal year ending on July 31, 2018. Vandoorne and de Vries lead Mercedes' electric charge According to an FE spokesman, sponsorship was up 25% in season 5 while the series'...
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