Issue link: http://itf.uberflip.com/i/1547012
The notes on pages 18 to 43 are an integral part of these consolidated financial statements. Note(s) 2025 $000 Operating 2025 $000 Strategic 2025 $000 Investing 2025 $000 Total 2024 $000 Operating 2024 $000 Strategic 2024 $000 Investing 2024 $000 Total Income Subscriptions and authorisation fees 8 4,283 - - 4,283 4,105 - - 4,105 Sponsorship, competition and television 7 41,473 - - 41,473 56,066 - - 56,066 Data sales 8 37,040 - - 37,040 31,334 - - 31,334 Grand Slam Player Development Programme 8 3,016 - - 3,016 2,941 - - 2,941 Wheelchair Tennis Development Fund 8 11 - - 11 73 - - 73 Olympics 8 6,160 - - 6,160 7,182 - - 7,182 Olympic Solidarity 8 251 - - 251 347 - - 347 Other development income 8 547 - - 547 158 - - 158 Technical and sundry 8 4,473 - - 4,473 4,567 - - 4,567 Foreign exchange gain 16 1,041 - - 1,041 - - - - Total income before accounting for Joint Venture 8 98,295 - - 98,295 106,773 - - 106,773 Result realised on transfer of IP 27 - - - - - - - - Share of loss of joint ventures accounted for using the equity method 27 (2,154) - - (2,154) (2,526) - - (2,526) Total income 96,141 - - 96,141 104,247 - - 104,247 Expenses Professional Tennis 9 66,111 - - 66,111 73,663 2,534 - 76,197 Tennis Development 10 11,093 1,055 - 12,148 11,366 1,166 - 12,532 Commercial 11 3,264 - - 3,264 2,883 - - 2,883 Presidential and Communications 12 3,392 - - 3,392 5,105 - - 5,105 Digital 13 1,548 - - 1 ,548 1,413 - - 1,413 Integrity, Science and Technical 14 6,445 - - 6 ,445 5,618 - - 5,618 Finance and Administration 15 8,858 - 218 9 ,076 9,023 - 44 9,067 Impairment of financial assets 38(b) 2,029 - - 2 ,029 983 - - 983 Impairment of investment in joint venture 27 5,893 - - 5 ,893 Foreign exchange loss 16 - - - - 259 - - 259 Amortisation 24 2,307 - - 2 ,307 1,669 - - 1,669 Depreciation 25 221 - - 221 195 - - 195 Right-of-use asset Depreciation 29 248 - - 248 - - - - Total expenses 111,409 1,055 218 112,682 112,177 3,700 44 115,921 Investment gains 21 – – 4,098 4,098 – – 2,059 2,059 (Deficit) / surplus before financing (15,268) (1,055) 3,880 (12,443) (7,930) (3,700) 2,015 (9,615) Finance income 22 9 - 129 138 3 - - 3 Net finance income 9 - 129 138 3 - - 3 (Deficit) / surplus before tax (15,259) (1,055) 4,009 (12,305) (7,927) (3,700) 2,015 (9,612) Taxation 23 - - - - - - - - (Deficit) / surplus after tax (15,259) (1,055) 4,009 (12,305) (7,927) (3,700) 2,015 (9,612) CONSOLIDATED INCOME STATEMENT for the year ended 31 December 2025 ITF Trust Annual Report and Consolidated Financial Statements 14