2022 ANNUAL COUNCILREPORTCOUNCIL REPORTCONTENTS

Contents
1.

President’s Report22.

Operations Report

93.

Strategic Plan

13

4.

The World Plan

16

Appendices28

Appendix A – FINANCIAL REPORT 2022

28

Appendix B – REMUNERATION POLICY 2022

67

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1. PRESIDENT’SREPORTCOUNCIL REPORT
1. PRESIDENT’S REPORT

1. PRESIDENT’SREPORT
2022 was an extraordinary year for athletics

these one-day leagues 9 Area Records andmade more incredible coming off the back of

173 National Records were set.

the 2 years of disruption bought about by the• And on the road by the end of the year we will

Covid-19 global pandemic.

have had 200 label races with almost 3 million
people participating.

I am immensely proud of what we have all• We recorded 1.25 million results for theachieved in athletics over the last few years, this

180,000 elite athletes active in 2022

year in particular. Let’s look at the highlights:

including over 400,000 personal bests from• We organised and hosted 4 World Athletics

these athletes across the season.

Series Events where almost 4,000 athletes• Our website has had 34 million visitors

competed from 180 countries. 261 Nationalwith over 1 billion hits on our competition

Records were set and we reached a cumulative

stats database.

global TV audience of over a billion.

• Our media coverage has reached 10 billion• The total impact of hosting our 4 World

people and our social media followers grewChampionships came to US$316M

to 10 million.

(US$237M of this was the impact of the• And we have had good engagement fromWorld Championships in Oregon). This is a

all our Member Federations, with overstudy that our partner Nielsen has started

5,000 people signing up for courses on ourdoing for us, measuring the impact of oureLearning platform; over 50 MFs and 100,000

signature events across 5 key indicators.

children joined in our first Kids Athletics Day;

• We also held a full season of Diamond League

we’ve held 24 MF info sessions as well as

events and 162 Continental Tour events

other specialist sessions; and our Genderaround the world where over 13,000 athletes

Leadership Facebook page now has overcompeted from 159 countries. Across both1000 followers.

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COUNCIL REPORT
1. PRESIDENT’S REPORTAt the end of 2022 we also received tracking data,

All political observers talk about headwinds – Ifrom Nielsen which gives us a snapshot of how

can’t think of a time where we’ve had a more

athletics is positioned around the world and how

complicated world. A world where it is more

our fans engage with us. It showed:

important than ever for us – sport - to do what

• Athletics is ranked fourth in terms of sports

we do well and we do 24/7. And as we do it ininterest globallyways big institutions don’t get close. We need to• Athletics has the best reputation of all global

make more of our role in this complicated worldsports (89% agreed)as sport is uniquely placed to help governments• World Athletics ranks third in terms ofand communities navigate the issues so many ofreputation among International Sports

our countries and people are facing.

Federations with 79% believing we govern our
sport well.

You also know we live in a world where decisions• The overall perception of World Athletics has

are made quickly and when the information we

improved to a greater extent over the pastwant and need is not always readily available,

two years than any other International Sportsor, dare I say it, true. So, we can be challenged if

Federation.

we’re not sure about the reliability of information
coming to us. We’re also in a race and it’s a race

These are really encouraging results and tell me

we can’t lose. It’s a race against time and it’s a

we have strong momentum which we all needrace to continue to capture the imagination of

to build on now no matter where you are in theyoung people as we’re dependent upon themworld or what your focus is.

for what we do now and into the future. And
it’s a race to maintain their lifelong bond with

Momentum is my key word for 2023.

the sport. So, when today’s young people goout into the world and take up responsibilities

Wherever you are in the world and whateverat more senior and influential levels in business,

your focus, let’s build on this momentum. You

governments and sport – some of them fromare all astute observers of the current world.

athletics - they take with them all they have

It’s a complicated landscape - environmentally,learned from sport growing up and continue toeconomically, socially and culturally.

support and identify opportunities – this is what
I mean by a lifelong bond.

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COUNCIL REPORT
1. PRESIDENT’S REPORT

It’s also a race to make sure governments are

We have spent the last 3 years building ouraware that we are capable of helping them withresources, courses, online tools and platforms

their new agendas. It’s not a race against otherto help all federations recruit more coaches

sports. It’s a race against all the other influences

and technical officials and develop and deliveron young people today. All the potential outside

more events and creative programmes that

influences that take them away from sport andare attractive to young people, governments,

are demanding their time and, quite frankly, areclubs and schools. A significant amount of

more exciting or more relevant to their lives. And

our financial and human resources have been

by relevant I mean, fit more easily into their lives.

invested in these programmes and we saw a
153% growth in the number of users on our

It’s important our sport makes decisions fast andeLearning platform.

these decisions are focused on what it is the next
generation are asking of us as a sport and how

We have great foundations in place. We are

we capture their imagination in a busy landscapeseeing more stars grow in our sport through theof competing entertainment opportunities,

athlete stories we and the media are telling. And

technology trends, life skills and activities. We

we are actively looking at ways to raise themneed to understand the risks AND the trends

even higher, helping our athletes become moreas both have the potential to pose serious

famous through special features, documentaries

challenges and opportunities to our sport.

and making them more available to fans andmedia. Performance is key but personalities andWe need to keep funding and investing in events,

passions are also important connectors.

disciplines and activities that deliver tangible
growth, that engage our fans and help us recruit

In 2023 we will also build on our momentum by:

new people into athletics.

• Being a lot better at gathering, analysing andusing data more widely. Becoming a more

We must innovate and to do that we need tometrics driven organisation and sport, frombe more agile and more confident in making

bidding to hosting and to legacy in the future,decisions, hosting events and pro actively

is a priority for growth. We are beginning to

attracting and retaining more people into

gather some rich data which will be invaluable

athletics at every level.

in guiding decisions over the coming months

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COUNCIL REPORT
1. PRESIDENT’S REPORT

and years – decisions on competition formats,a new people plan to help federations attract

disciplines, host cities, national and area

and retain more people.

championships, and a host of other decisions• We are staging a brand new Worldwe will all need to make.

Championship event in 2023 – The World• Momentum that means working with

Athletics Road Running Championships whichgovernments and cities to introduce morebrings together the mile, the 5k and the half

people, particularly children, to athletics

marathon in a brand new event with Worldthrough our Kids’ Athletics programme. ThisChampionship Medals being awarded in somealso entails building area and global networks

for the first time as well as an equal focus

of individuals who are able to facilitate andon mass participation. This is the first newteach these programmes – from taking groups

Championship since the introduction of theof children to the local park, club or beach on

World Relays in 2014 – and that was almost aweekends to holding PE classes in schools

decade ago!

and clubs. We started this in some Areas last

• We are also working on another new event

year and will continue across all Areas in 2023.

to take place in 2026 - the only year where

Our Development Commission we will have a

we don’t have a World Athletics outdoor

hands-on role, working with our Federations,Championships or an Olympic Games. We

in managing and monitoring this activity withwant to create a global event that is different

the aim of reaching 1 million children throughand exciting and can be an incubator for ideas

our Kids’ Athletics programmes and initiatives

and formats and another stage to raise thethis year.

profile of athletes and athletics.

• Pre covid we were heavily reliant on face-to-• We have more Continental Tour events in eachface courses for those helping to facilitate

Area, and at all levels, so athletes can compete

athletics with just 2 online courses available.

more at home or closer to home. More road

This year we will have 15 courses online, inlabel races for elite and mass participation anda number of different languages, and havecloser ties with the Mountain and Trail Running

set a target of 10,000 registered users

community which is growing fast.

accessing these courses. We are developing• And for the historians amongst you … 2023

a recruitment drive aimed specifically atwill be the 40th anniversary of our World

coaching and technical officials and backed byChampionships. We have come a long way

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COUNCIL REPORT
1. PRESIDENT’S REPORTin 40 years so let’s look back to 1983 andMy heartfelt thanks go to our athletes, ourcelebrate these last 40 years as we plan ourMember Federations, Area Associations, ournext 40 years which will look a lot different.

HQ, our Council, Executive Board. Athletics may
primarily be an individual sport, but the growthThis is the momentum we want to capitalise on

in participation and popularity of athletics isand build.

a team effort and I am always grateful for thehours and passion all our teams and our athletes

We have never had such a good opportunity

put into our sport – Thank you!

to grow athletics as we have over the next few
years. Following visits to all the 2023 Area
Congresses I can confirm there is no shortageof passion, talent and energy to drive athletics
at all levels.

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2. OPERATIONSREPORTCOUNCIL REPORT
2. OPERATIONS REPORT

2. OPERATIONSREPORT
Increased investment in competition,

Following two years of disruption, the priority

events and development paid dividends

in 2022 was to get competition back at global,

whilst cash remained strong and like forregional and national levels with increased

like revenues increased.

investment in competition and development

Grant anddevelopment
funding
increase↗17%

whilst maintaining levels of funding (US$8.9m)
for the Athletics Integrity Unit.
Like for like revenue (without the Olympic↗26.5%

Dividend which is received and accounted for
exceptionally every four years*) increased 26.6%
to US$54.9m with cash for the year ending 31

Like for like revenue increase(without Olympic Dividend)

162

December 2022 remaining strong at US$46.1m.

Continental
Tour one day
meetings held.

Expenditure for the year increased by 36.7%
to US$72m with the hosting of all fourWorld Championship events with 58% of all
expenditure spent on competition and events.

89%
76%
Athletics
has the best
reputation of all
global sports

4,000 athletes from 180 countries competed in
the World Athletics Series. 261 national records
were set and we reached a cumulative global TV
audience of more than one billion.

of athletes
extremely or very
concerned aboutclimate change

During the year, World Athletics’ partner,
Nielsen, undertook detailed research, measuring* The Olympic Dividend is received once in every 4-year Olympic cycle in the year when the games are held and hence there is no corresponding
Olympic dividend received from the International Olympic Committee during 2022

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COUNCIL REPORT
2. OPERATIONS REPORT

the impact of our signature event across five2021, and a full season of Diamond League

indicators. The combined research showed

events. More than 13,000 athletes from 159

that the total impact of hosting our four World

countries participated across both one-day

Athletics Series competitions came to US$316m.

leagues. On the road we held 200 events withalmost three million people participating.

Reassured by a solid cash position, the decision
to increase grant and development funding toWhilst expenditure on competition, events

Area Associations and Member Federations

and development increased during the period,by 17% to [US$10.6m] paid dividends. Thisadministration spend remained flat atinvestment supported, and in some cases,

US$6.9m despite executing more activities

kick started, competition and development

and projects and delivering on an ambitious

programmes across the world with more one

strategic plan which saw media coverage reachday meetings being stage, more officials and

10 billion people and our social media followers

coaches being trained and the launch of aexceed 10 million.

comprehensive and adaptable Kids’ Athletics
programme which is gaining traction in many

The recent announcements in 2023 of NTN,

countries across the globe.

Tokyo Tokyo and Deloitte as new partners
are indicative of the commercial deals being

During the year, 162 Continental Tour one

negotiated to secure future revenues which will

day meetings were held, up from 69 events in

be realised in 2023 and beyond.

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COUNCIL REPORT
2. OPERATIONS REPORT

2022 competitions & events in numbers
Athletes

Teams

MFs
Winning GoldMFs with
top 8 finish

National
Records

TV Viewers*

Total Impact

284

41

5

25

-

7M

$2M

612

130

20

56

72

116M

$46M

1,705

180

29

76

92

501M

$237M

1,387

126

24

70

97

29M

$29M

*TV Viewers do not include digital viewers

13

Events

162

7

55

1,084
Athletes

Countries

2

118

11,793

159

ARs

NRs

Events

ARs

200

2.8m

Events

NRs

Participants

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Athletes

88

Countries

3. STRATEGIC
PLANCOUNCIL REPORT
3. STRATEGIC PLAN

3. STRATEGIC
PLAN
The World Athletics Strategic Plan, set for theFive goals (31%) will be completed by thefour-year period 2020-2023, identified

end of the Strategic Plan period (2023).

16 goals across the four strategic pillars. RegularThis includes increasing broadcast reach

updates on the activities have been shared andby 10% and delivering full stadia for the

discussed with the Executive Board.

two World Athletics Series events which fallwithin the period. We are also on track to

Ten of the 16 goals (63%) were completeddeliver the objective of doubling the number

before the end of 2022, including resetting theof commercial partnerships by the end ofdigital following goal which was achieved by

2023. In 2020 we had five partners and by

the end of the first year. The launch of the Kids’

the end of 2022 we had seven partners. The

Athletics programme is gaining traction acrossTokyo 2025 appointment secures at least

many Member Federations and the growth

two new sponsors so 2023 will centre aroundof the Continental Tour and other one-day

converting this promise.

meetings is providing more opportunities forathletes around the world to compete more often

While significant progress has been madein their regions. More courses across multiple

on creating a database of one million known

platforms and in more languages were introducedfans, this goal will be enhanced in 2023

in 2022. In 2020 only two online courses werewith a detailed strategy, plan and resources

available to the 897 registered on the eLearning

put in place to build a substantial databaseplatform. Fifteen courses will be available inby capitalising on the World Athletics

2023 to a targeted 10,000 registered users. The

Championships Budapest 23, the Paris 2024

change to our bidding processes is delivering

Olympic Games and the World Athletics

strong bidders for our blue ribband events andChampionships Tokyo 25.

the Nielsen-driven impact studies introduced
last year will be critical in delivering a strong,
substantive narrative for future bidders.

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4. THEWORLD PLAN

COUNCIL REPORT
4. THE WORLD PLAN

1. THEWORLD PLAN
The World Plan for Athletics 2022-2030 (thecontribute towards growth and development ofWorld Plan) is the roadmap for growth andthe sport.

development of athletics over the next eight
years for the whole sport. 2022 saw the first

The focus of the first year of implementation

full year of the World Plan’s implementation,of the World Plan was to ensure it isfollowing the Plan’s unanimous approval by thewell understood and that the three main

Congress in November 2021.

stakeholders (World Athletics, Area
Associations and Member Federations)

The World Plan is not a prescriptive document.

responsible for delivery of the World Plan are

There is flexibility for Areas and Member

clear on the actions and objectives under theFederations to deliver the actions identified

four strategic goals.

in the World Plan at the relevant time within
the eight-year duration of the plan that best

The World Plan Implementation Working

suits their needs and local circumstances. This

Group was established by the World Athletics

reflects the core principle that ‘one size doesCouncil to provide oversight and support in

not fit all’.

the implementation of the World Plan. Although
only in its first year of reporting, the Working

The underlying principle of the World Plan isGroup is encouraged to see the focus andthat it is a guidance document and Member

prioritisation Member Federations and Areas

Federations and Areas are able to select theare putting into the actions that are mostpriority actions and areas of focus based on

relevant and beneficial to their specific needs.

their individual needs and circumstances. As

For example, over 80% of Member Federations

outlined below through the Year 1 reporting

have invested in their national championships

data, this means that there is a wide range

or promoted the sport of athletics (includingof activity and delivery underway which willthrough participating in World Athletics

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COUNCIL REPORT
4. THE WORLD PLAN

campaigns) since the launch of the World Planthe end of year to those Member Federations

and while only 18% of Member Federations

who have not yet started or completed the

had adopted a safeguarding policy andsafeguarding action.

measures by the end of 2022, 49% of Member
Federations are working on this action in 2023.

Every action has examples of delivery

This means by the end of 2023 approximately

implementation which will be analysed over the

70% of Member Federations will be working on

coming year so a bank of case studies and bestor have delivered this mandatory safeguarding

practice implementation can be created andaction. Assistance will continue to be provided

shared with all Member Federations.

by World Athletics and the Areas through toMember Federations World Plan Actions - Overall status (April 2023)

Pa = More Participation Pe = More People Fa = More Fans Pn = More Partnerships
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COUNCIL REPORT
4. THE WORLD PLAN

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COUNCIL REPORT
4. THE WORLD PLAN

2022 Revenue, Expenditure, Development at a Glance
Revenue:
US$54.9m

2022 Member Federation grantoverall distribution per category
11%
27%

39%

Broadcast, Commercial

89%

rights & Value in Kind

Administration ofFederation
Organisation of national
championships
Participation inregional/continental
championships

Other Income

34%

Expenditure:
US$72.0m

2022 Grant for Growth
overall distribution
4%

9%

8%
Communications
Competitions

Competition & Events

18%

58%

39%

Grants & Development

20%

Legal & Compliance (incl

Athlete development

US$ 8.8m for AIU)

Equipment
Youth & grassroots
programmes

Administration

15%

Education

28%

1%2022 Area Competition grant overall
distribution per category

Overall distribution of grant funding
to Areas and Member Federations
0%

5%

15%

28%

9%

Area championships

15%

8%
MF administration
Competitions
Education

Regional championships

70%

Area administration

One-day meetings

8%

42%

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Athlete development
Equipment
Youth & grassroots
programmes

COUNCIL REPORT
4. THE WORLD PLAN

Member Federations 2022 World Plan Case Studies
Mobilising the young athletes of Togo
World Plan Goal & Action: More Participation (Action5) – Work with athletics clubs to establish and/or
strengthen direct links between clubs/leagues and local
schools.
Project overview & outcomes: The aim of the Fédération
Togolaise d’Athlétisme was to increase participation inathletics for young people in Togo through the deliveryof the new Kids’ Athletics programme in schools andclubs. 48 teachers were trained to deliver the new Kids’
Athletics programme, which was then rolled out in four
schools. Of the 800 participants, in 2022, 130 joined
one of 12 clubs across Togo.

Increasing the number of young athletes in Dominica
World Plan Goal & Action: More Participation (Action5) – Work with athletics clubs to establish and/or
strengthen direct links between clubs/leagues and local
schools and More People (Action 6) – Organise anddeliver local face-to-face training courses in addition topromoting online learning.
Project overview & outcomes: The Dominica Amateur
Athletics Association’s focus is on the development of
athletes (aged seven to 15) at grassroots and community
levels. No athletics programmes previously existed atthese levels and additional support personnel also needed
to be identified and trained. The Association, through its
two coach instructors, therefore conducted online training
sessions with individuals who had shown an interest in
getting involved in athletics to support school and club
activities. As a result of these initiatives, the Association
saw an increase in the numbers participating in athletics
events (85 across the different age groups) and 15 newcoaches trained.

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4. THE WORLD PLAN

Preparation of Bolivian athletes for Area championships and global competition
World Plan Goal & Action: More Participation (Action 8)– Development and talent pathways in place for talented
athlete progression to elite level.
Project overview & outcomes: A goal of Federacion
Atletica de Bolivia is to increase their athletics
performance levels and medals won at Area level. Grant
funding was used to organise
training camps to support preparation for theunder 18 and under 23 South American Athletics
Championships. At U18 level, six athletes participatedin the championships with four medals won and seven
top 8 placings; and at U23 level, 10 athletes participatedwith three medals won and nine top 8 placings. The
athletes continue to be supported in their performancedevelopment with the goal to reachglobal championships.

Growing athletics’ visibility and fans by modernising communications tools in Belgium
World Plan Goal & Action: More Fans (Action 21) –Maximise fan engagement via digital channels.
Project overview & outcomes: Ligue Royale Belged’Athlétisme was supported to develop the tools andplatforms (website, social media, livestream) to increase
fan interest in athletics across Belgium. The website(both French and Dutch versions) was redesigned andmodernised to provide a better user experience. In
addition, a livestreaming capability was included with ninemajor competitions livestreamed in 2022 and 73,500
views reached. The plan is to livestream 10 events in
2023 and to capture data to assess fan engagement.

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COUNCIL REPORT
4. THE WORLD PLAN

Kids’ Athletics in OmanWorld Plan Goal & Action: More Participation (Action3) – Use World Athletics toolkit to enter discussions withgovernment to embed athletics in the school curriculumand More Partnerships (Action 3) – Communicate benefits
partnering with athletics can deliver to governments.
Project overview & outcomes: The Oman Athletic
Association aims to increase levels of participationand the culture for athletics in Oman through Kids’
Athletics delivery in schools. Following discussions withgovernment, Kids’ Athletics was included in the school
curriculum for grades three to five and a memorandum of
understanding (MOU) signed. Through the MOU, in 2022,
Kids’ Athletics was then delivered in over 1,100 schools
to benefit approximately 200,000 pupils aged nine to
11 years.

Promoting Athletics as a way of life in Kiribati
World Plan Goal & Action: More People (Action 2) – Create
targeted recruitment plan.
Project overview & outcomes: The Kiribati Athletics
Association aims to promote the physical activity andmental health benefits of athletics participation througheducation and delivery in schools and clubs in partnershipwith the Ministries of Education and Health, the National
Olympic Committee and the Australian Embassy. To
achieve, the Association identified the need to recruitand train more Kids’ Athletics practitioners and coaches.
15 Kids’ Athletics practitioners were trained in 2022
and a MOU signed to formalise Kids’ Athletics delivery inschools. In addition, two additional CECS level 1 coaches
were certified to operate in the club system and one
CECS level 2 coach to lead coach education in
the Association.

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COUNCIL REPORT
4. THE WORLD PLAN

Sustainability
Sustainability took on a more visible role across

The team worked with a range of stakeholders

the entire World Athletics landscape in 2022,

to put in place a robust Athletics for a Better

involving one-day series competitions, World

World (ABW) Sustainable Event Management

Athletics Series events (particularly WCH

System. We are delighted to announce that

Oregon22) and further research and support

the ABW Standard obtained ISO 20121

from our athletes. The following infographics

Sustainable Event Management certification inrecord the key highlights of 2022.

April (2023).

World Athletics sustainability 2022 in numbers
World Athletics Championships Oregon22

13200

kilograms of waste diverted
from landfill for an 80.17%
waste diversion rate

3263

1660

metric tonnesof carbon emissions
avoided due to useof renewable diesel

kilograms of foodwaste composted

8000
2358

kilogramsof edible food
donated to Food forLane County

number of
reusablewater bottles
distributed

35

number of temporary
drinking water
stations installed atthe venue

325 000

approximate number of single-use
plastic water bottles avoided

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0number of single-use
plastic water bottles
sold/distributed by
the eventCOUNCIL REPORT
4. THE WORLD PLAN

Athletes

491

Elite athletes wanting to engage more around sustainability and climate action

76%

of athletes surveyed at fourWorld Athletics Series events
who said they are either
extremely concernedor very concerned aboutclimate change*

72%

71%

of athletes who said thatclimate change has already
impacted our sport*

77%

of athletes who said they are
either extremely concerned orvery concerned about
air pollution*

90%of athletes who said they’re
extremely willing or very
willing to change their lifestyle
to reduce the damage
their activities cause to theenvironment*

9of athletes who said that
World Athletics does havea role to play to help build asustainable future*members of the inaugural class ofthe World Athletics Champions for a
Better World, representing each of ourcontinental areas

Athletics fans3861

number of athletics fans who have signed the World Athletics Clean Air Declaration* survey of 737 athletes from 122 countries who participated at four World Athletics Series events in 2022

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COUNCIL REPORT
4. THE WORLD PLAN

One day meetings and road races

124

254

number of one-day competition
series events introduced to
the Athletics for a Better
World Standard

number of label race organisers
introduced to the Athletics for a
Better World Standard

12

number of sustainable event
webinars and info sessions held
for organisers of one-day
competition series events

Sustainability activities and campaigns

2654

500

trees planted in Jamaica tocelebrate the return of the
CARIFTA Games after
pandemic postponements

trees planted in Kenya’s Kijabe
Forest to mark the50th anniversary of the UN
Environment Programme

300

people from two coastal communities in Mauritius
who benefitted from a community water project World
Athletics helped fund through an Area Championshipsustainability contribution

30

50

trees planted near the venueof the World Athletics Race
Walking Team Championships
in Muscat, Oman

1400

reusable water bottles
provided for the Oceania
Athletics Championships

bags of trash collected during a one-hour beach clean-up ahead of the World Athletics
Race Walking Team Championships in Muscat, Oman

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COUNCIL REPORT
4. THE WORLD PLAN

World Athletics Communications 2022 in Numbers
WORLDATHLETICS.ORG

PRESIDENT INTERVIEWS

30 NOV 2021 - 28 NOV 2022

33.9

15.1

Million Users
+16%

97.1

141 25interviews

Million Pageviews+73%

Million Sessions+47%

WORLD ATHLETICS SOCIAL MEDIA
30 NOV 2021 - 22 NOV 2022

993

different
countries

press conferencesin 20222,443,682
followers

408,600
followers

2,070,835
followers

1,110,000
subscribers

3,840,000
followers

+19%

+23%

+13%

+66%

+18%

Overall social media fanbase

9.9million +21%WORLD ATHLETICS COVERAGE IN MAINSTREAM
AND SOCIAL MEDIA (16,828 ARTICLES /9.7 BILLION REACH)
1 JAN 2022 - 31 OCT 2022

SHARE OF VOICE& TONALITY
Share of tonality

Top 5 sport events

ArticlesTop 5 athletes topics

ArticlesTop 5 coverageby country

World Athletics
Championships Oregon22

4,415World Athletics Championships
Oregon22

4,415

United Kingdom 18%

Olympic Games 2020

2,110

Diamond League

1,159

United States 12%

Commonwealth Games
Birmingham 2022

1,929

Doping

1,107

India 12%

Diamond League

1,159

Effects of the Russian
invasion of Ukraine

894

Russia 6%

World Athletics U20
Championships Cali 22488

Debate over transgender athletes

573

China 5%

press releases
in 2022

89% Neutral
10% Positive
1% Negative

Share of coverage
by Federation

2.16% FIBA
2.09% World Rugby
1.33% FINA
0.56% FIVB
0.42% FIG
69.60% FIFA
14.57% IOC
4.69% World Athletics
2.41% ITF
2.16% UCIMEDIA OPERATIONS & OTHERSMedia Development Programme during WU20 Cali 22 with 40 participants / Accredited Media: WCH Oregon22 442 / WIC Belgrade 22 243 /World U20 Cali 22 103 / WRW Muscat 22 14 / 10,773 followers on the World Athletics LinkedIn page vs 8,257 in 2021 (+30%) /The most viewed video of the year across all platforms is the USA women’s 4x100m relay exchange which has 39.1M views on Tik Tok

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B

A

FINANCIAL REPORT
2022

COUNCIL REPORTFINANCIAL REPORT 2022

CONTENTSCOUNCIL MEMBERS AND PROFESSIONAL ADVISERS ...................................................................... 4
EXECUTIVE BOARD MEMBERS....................................................................................................... 5
STATEMENT OF EXECUTIVE BOARD RESPONSIBILITIES ................................................................... 6
INDEPENDENT AUDITOR’S REPORT .............................................................................................. 7
INFORMATION ABOUT THE ASSOCIATION AND SIGNIFICANT EVENTS OF THE PERIOD ...................10I.

GENERAL ........................................................................................................................................................ 10II.

ABOUT WORLD ATHLETICS ............................................................................................................................ 10

III.

OFFICIAL WORLD ATHLETICS PARTNERS ........................................................................................................ 12

CONSOLIDATED FINANCIAL STATEMENTS ....................................................................................13
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME ............................................................. 13
OTHER COMPREHENSIVE INCOME ...................................................................................................... 13
CONSOLIDATED BALANCE SHEET ........................................................................................................ 14
CONSOLIDATED STATEMENT OF CASH FLOWS ................................................................................... 15
CONSOLIDATED STATEMENT OF CHANGES IN EQUITY ....................................................................... 16
SIGNIFICANT ACCOUNTING POLICIES ...........................................................................................17
A.

GENERAL INFORMATION AND STATEMENT OF COMPLIANCE ................................................ 17

B.

BASIS OF PREPARATION .......................................................................................................... 17

C.

CONSOLIDATION PRINCIPLES AND PERIMETER....................................................................... 18

D.

CURRENCY TRANSLATION........................................................................................................ 19

E.

TANGIBLE FIXED ASSETS .......................................................................................................... 19F.

ACCRUALS AND PROVISIONS ................................................................................................... 20G.

PENSION OBLIGATIONS ........................................................................................................... 20

H.

DEBTORS .................................................................................................................................. 21I.

REVENUE.................................................................................................................................. 21

J.

OPERATING EXPENSES ............................................................................................................. 22

K.

FINANCIAL INCOME AND EXPENSES........................................................................................ 22

L.

FINANCIAL RISK MANAGEMENT .............................................................................................. 23WORLD ATHLETICS FINANCIAL REPORT | p. 22022 ANNUAL COUNCIL REPORT
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COUNCIL REPORTFINANCIAL REPORT 2022

M.

CRITICAL ACCOUNTING ESTIMATES AND JUDGMENT......................................................... 24

NOTES TO THE CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME ..................................25
1.

REVENUE FROM BROADCAST RIGHTS AND SPONSORSHIP RIGHTS .................................. 25

2.

OTHER REVENUE FROM ACTIVITIES .................................................................................. 25

3.

COMPETITION AND EVENTS .............................................................................................. 26

4.

GRANTS AND DEVELOPMENT ............................................................................................ 27

5.

LEGAL AND COMPLIANCE .................................................................................................. 28

6.

ADMINISTRATION .............................................................................................................. 29

7.

FINANCIAL INCOME ........................................................................................................... 30

8.

FINANCIAL EXPENSES ......................................................................................................... 30

NOTES TO THE CONSOLIDATED BALANCE SHEET...........................................................................31
9.

INVESTMENTS IN EQUITY.................................................................................................. 31

10.

PROPERTY, PLANT AND EQUIPMENT................................................................................. 32

11.

TRADE RECEIVABLES AND OTHER RECEIVABLES................................................................ 33

12.

CASH AND CASH EQUIVALENTS ......................................................................................... 34

13.

EQUITY ............................................................................................................................... 34

14.

POST-EMPLOYMENT BENEFIT AND SIMILAR OBLIGATIONS .............................................. 34

15.

FINANCIAL LIABILITIES CURRENT AND NON CURRENT...................................................... 35

16.

TRADE PAYABLES ............................................................................................................... 35

17.

OTHER PAYABLES & ACCRUED EXPENSES.......................................................................... 35

18.

DEFERRED INCOME ............................................................................................................ 36

OTHER DISCLOSURES ...................................................................................................................37
19.

FINANCIAL RISK MANAGEMENT ........................................................................................ 37

20.

COMMITMENTS GIVEN AND CONTINGENT LIABILITIES AND OFF-BALANCE SHEET EVENTS
37

21.

POST BALANCE SHEET EVENTS .......................................................................................... 37

22.

RELATED PARTIES............................................................................................................... 37

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COUNCIL REPORTFINANCIAL REPORT 2022

COUNCIL MEMBERS AND PROFESSIONAL ADVISERSPRESIDENT
Sebastian COE(GREAT BRITAIN & NORTHERN IRELAND)SENIOR VICE-PRESIDENT
Sergey BUBKA(UKRAINE)

VICE-PRESIDENTS
Nawaf Bin Mohammed AL SAUD
Geoff GARDNER
Ximena RESTREPO(SAUDI ARABIA)(NORFOLK ISLAND)(COLOMBIA)

COUNCIL MEMBERS
Valerie ADAMS
Dahlan Jumaan AL HAMAD
Beatrice AYIKORU
Sylvia BARLAG
William BANKS
Raul CHAPADO
Nawal EL MOUTAWAKEL
Robin Sapong EUGENIO
Helio Marinho GESTA DE MELO
Alberto JUANTORENA DANGER
Hamad KALKABA MALBOUM
Abby HOFFMAN
Dobromir KARAMARINOV
Renaud LAVILLENIE
Antti PIHLAKOSKI
Anna RICCARDI
Mike SANDS
Adille J. SUMARIWALLA
Nan WANG
Hiroshi YOKOKAWA(NEW ZEALAND)(QATAR)(UGANDA)(NETHERLANDS)(USA)(SPAIN)(MOROCCO)(NORTHERN MARIANA ISLANDS)(BRAZIL)(CUBA)(CAMEROON)(CANADA)(BULGARIA)(FRANCE)(FINLAND)(ITALY)(BAHAMAS)(INDIA)(CHINA)(JAPAN)CHIEF EXECUTIVE OFFICER

Jon RIDGEON

AUDITORS

Ernst & Young Audit Conseil & Associes

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COUNCIL REPORTFINANCIAL REPORT 2022

EXECUTIVE BOARD MEMBERSPRESIDENT
Sebastian COE(GREAT BRITAIN & NORTHERN IRELAND)SENIOR VICE-PRESIDENT
Sergey BUBKA(UKRAINE)

VICE-PRESIDENTS
Nawaf Bin Mohammed AL SAUD
Geoff GARDNER
Ximena RESTREPO(SAUDI ARABIA)(NORFOLK ISLAND)(COLOMBIA)APPOINTED MEMBERS
Abby HOFFMAN
Sunil SABHARWAL
Hasan ARAT

(CANADA)(UNITED STATES OF AMERICA)(TURKEY)WORLD ATHLETICS FINANCIAL REPORT | p. 52022 ANNUAL COUNCIL REPORT
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COUNCIL REPORTFINANCIAL REPORT 2022

STATEMENT OF EXECUTIVE BOARD RESPONSIBILITIES
2022 CONSOLIDATED FINANCIAL STATEMENTS
In addition to the basic financial reporting requirements set out in the statutes of World Athletics ("theAssociation"), the Executive Board undertakes to prepare consolidated financial statements for eachfinancial period which give a true and fair view of the state of affairs of the Association as at the end of thefinancial period, of the surplus or loss and of the cash flow statement of the Association for that period.
In preparing those consolidated financial statements, the Executive Board considers that the Association
has used appropriate accounting policies in accordance with the note A and B of the consolidated financial
statements, consistently applied and supported by reasonable judgments and estimates, that all
accounting standards which they consider to be applicable have been followed and that the preparationof the consolidated financial statements on a going concern basis is appropriate.
The Executive Board has responsibility for ensuring that the Association keeps accounting records, which
disclose with reasonable accuracy the financial position of the association.
The Executive Board has general responsibility for taking such steps as are reasonably open to them tosafeguard the assets of the Association and to prevent and detect fraud and other irregularities.
Approved by the Executive Board.
And signed on behalf of World Athletics.
As of 31 May 2023

Sebastian COE
President

Vineesh KOCHHAR
Chief Operating Officer

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COUNCIL REPORTFINANCIAL REPORT 2022

Independent Auditor’s ReportWORLD ATHLETICS
Year ended 31 December 2022
Independent auditor’s repor t on consolidated financial statements

To the Executive Board of World Athletics,

OpinionWe have audited the consolidated financial statements of World Athletics and its subsidiaries (hereafter referred to as the“Association”), which comprise the consolidated balance sheet as at December 31, 2022, the consolidated statement ofcomprehensive income, the consolidated statement of changes in equity, the consolidated statement of cash flows for the year
then ended, and the notes to the consolidated financial statements, including a summary of significant accounting policies.
These financial statements were approved by the Executive Board.
In our opinion, the accompanying consolidated financial statements present fairly, in all material respects, the consolidated
financial position of the Association as at December 31, 2022, and its consolidated financial performance and consolidated
cash flows for the year then ended, in accordance with International Financial Reporting Standards as adopted by the European
Union.

Basis for Opinion
We conducted our audit in accordance with International Standards on Auditing (ISAs). Our responsibilities under thosestandards are further described in the Auditor’s Responsibilities for the Audit of the Financial Statements section of our report.
We are independent of the Association in accordance with the International Code of Ethics for Professional Accountants(including International Independence Standards) (IESBA Code) together with the ethical requirements that are relevant to our
audit of consolidated financial statements in Monaco, and we have fulfilled our other ethical responsibilities in accordance withthese requirements and the IESBA Code. We believe that the audit evidence we have obtained is sufficient and appropriate toprovide a basis for our opinion.

Other information included in the Association’s 2022 Annual Repor t
Other information consists of the information included in the Annual Report, other than the financial statements and our auditor’sreport thereon. Management is responsible for the other information.
Our opinion on the financial statements does not cover the other information and we do not express any form of assurance
conclusion thereon.

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COUNCIL REPORTFINANCIAL REPORT 2022

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so,
consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in theaudit or otherwise appears to be materially misstated. If, based on the work we have performed, we conclude that there is amaterial misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Responsibilities of Management and Those Charged with Governance for the consolidated Financial Statements
Management is responsible for the preparation and fair presentation of the consolidated financial statements in accordance with
International Financial Reporting Standards as adopted by the European Union, and for such internal control as Management
determines is necessary to enable the preparation of the consolidated financial statements that are free from material
misstatement, whether due to fraud or error.
In preparing the consolidated financial statements, management is responsible for assessing the Association’s ability to continue
as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting
unless management either intends to liquidate the Association or to cease operations, or has no realistic alternative but to do so.
Those charged with governance are responsible for overseeing the Association’s financial reporting process.

Auditor’s Responsibilities for the Audit of the Consolidated Financial Statements
Our objectives are to obtain reasonable assurance about whether the consolidated financial statements as a whole are free frommaterial misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonableassurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs will always detecta material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually orin the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these
consolidated financial statements.
As part of an audit in accordance with ISAs, we exercise professional judgment and maintain professional skepticism throughout
the audit. We also:•

Identify and assess the risks of material misstatement of the consolidated financial statements, whether due to fraud or
error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient andappropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud ishigher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, orthe override of internal control;•

Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in
the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Association’s internal
control;•

Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related
disclosures made by management;•

Conclude on the appropriateness of management’s use of the going concern basis of accounting and, based on the audit
evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on
the Association’s ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to
draw attention in our auditor’s report to the related disclosures in the consolidated financial statements or, if suchdisclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the dateof our auditor’s report. However, future events or conditions may cause the Entity to cease to continue as a going concern;WORLD ATHLETICS FINANCIAL REPORT | p. 82022 ANNUAL COUNCIL REPORT
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COUNCIL REPORTFINANCIAL REPORT 2022•

Evaluate the overall presentation, structure and content of the consolidated financial statements, including the disclosures,and whether the financial statements represent the underlying transactions and events in a manner that achieves fairpresentation;•

Obtain sufficient appropriate audit evidence regarding the financial information of the entities or business activities within
the Association to express an opinion on the consolidated financial statements. We are responsible for the direction,
supervision and performance of the audit of the Association. We remain solely responsible for our audit opinion.

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit
and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

Restriction on Use of our Repor t
This report is addressed to the Executive Board of the Association. We assume or take no responsibility in respect of a third party
which may use this report.
This report is governed by, and construed in accordance with Monégasque law. The courts of Monaco shall have exclusive
jurisdiction in relation to any claim or dispute concerning the engagement letter or this report, and any matter arising therefrom.
Each party irrevocably waives any right it may have to object to an action being brought in any of those courts and to claim thatthe action has been brought in an inconvenient forum or that those courts do not have jurisdiction.

Monaco, June 7, 2023

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INFORMATION ABOUT THE ASSOCIATION AND
SIGNIFICANT EVENTS OF THE PERIODI.

GENERAL
Athletics compiles rules with regulations
governing international competitions and fosters
the worldwide development of athletics and thedissemination of technical and other information
to its affiliated entities.

World Athletics is a non-profit-making
association, the members of which are the
National Federations, which represent athletics
in each country of the world. Its object is toestablish legal and friendly cooperation between
all members for the benefit of athletics. WorldII.

ABOUT WORLD ATHLETICS
Yet in an ever-changing world, international
sport federations such as World Athletics need to
be proactive when trying to reach new audiences
and find new hosts for their events. It is also
fundamental that we fully understand that
athletics is no longer just about highperformance, gold medals and records, but also
about 'sport for all' and about ensuring that the
maximum number of citizens are able toparticipate in athletics.

Athletics, a sport that was founded in Antiquity,
has continued to adapt through the centuries,
offering a dynamic, life-enhancing sport.
On 17 July 1912 in Stockholm, Sweden, following
the closing ceremony of the Olympic Games, theInternational Amateur Athletic Federation (IAAF)
was founded as the world governing body for the
sport of track and field athletics.
During the 10 decades that followed, athletics
underwent many changes which reflected thepolitical and socio-economic evolution of thewider world. Even the IAAF’s name has changed,
in 2001 becoming the ‘International Associationof Athletics Federations’ to reflect the growth ofa professional sporting world which did not exist
in 1912, and then again in 2019 to 'World
Athletics'.

This means, of course, the thriving world of roadrunning, which is where the majority of people
actually connect directly with the world of
athletics, but it is also athletics in schools, where
World Athletics is keen to ensure that we reachthe maximum number of children, all over theworld, starting at the age of four but also
including youngsters in their teens, where thedrop-off from sport is most acute.

World Athletics was founded to fulfil the need fora world governing authority, for a competition
program, for standardised technical equipment
and for a list of official world records. All of theserequirements remain today.

Despite such inherent benefits, World Athletics
recognises that athletics is competing for the
public’s attention in an ever more varied andcomplex media and entertainment-driven world
but also that we properly embrace matters

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COUNCIL REPORTFINANCIAL REPORT 2022

touching on social responsibility, theenvironment and all matters that help advanceathletics as a force to change the world for good.

of it in terms of global reach and impact. The next
edition of the World Athletics Championships
will be hosted in Budapest, Hungary (2023).

Athletics disciplines are among the oldest of all
sporting competitions known to mankind, with‘run, jump, throw’ the natural and universal
forms of human physical expression. The sportalso offers broader values that help us deal withlife’s challenges.

The wide variety in the type, size and scope of therest of the events of the World Athletics Series,
with their different demands in terms of logistics,
budget and facilities also means that there areWorld Athletics events available to fit the hosting
ambitions and resources of cities, large andsmall, among most of the Association’s 214
Member Federations.

We are also adapting our competition programs
to reflect the increasing diversity of attractions
from which the public can now choose.
Attracting, and most importantly retaining, theyoung as both participant and spectator are
essential if athletics is to retain its appeal. But weare also closely linked to the masters’ athletics
movement as well as ultra-distance running andmountain and trail racing.

Showing the sport's ability to innovate andrespond to changing demands, an exciting newteam competition, the World Athletics Relays,
was launched in 2014 in Nassau, The Bahamas
and has now been staged on four further
occasions, most recently in Silesia, Poland.
This variety extends beyond championships.

The biennial World Athletics Championships is
the jewel of our World Athletics Series which also
includes indoor, U20, relays, cross country, racewalking and road running throughout a four-year
cycle of events.

In 2010 a new global one-day competition
structure was unveiled. It is headed by the
Diamond League of 14 invitational track and fieldmeetings in Africa, Asia, Europe, and USA. The
Continental Tour, with Gold, Silver and Bronze
one-day meetings held across all six World
Athletics continental areas, along with the Indoor
Tour, Cross Country Tour, Race Walking Tour andCombined Events Tour offer a second tier of eliteinternational competitions. All these play out tolarge stadium, crowds and TV audiences aroundthe world.

Athletics also carries the mantle of being theleading sport of the Olympics Games. Athletics isthe main spectator stadium sport of the Games,
central to the success of each summer edition.
The histories of athletics and the Olympic Gamesare closely entwined and World Athletics is
extremely proud of this association.

As World Athletics continues in its second
century of existence, our aim is to further
enhance our vibrant sport to offer new andexciting prospects for athletes and spectators
alike. We are working hard to ensure that every
area of our sport is reviewed, tested andencouraged to strive for athletics excellence.

Both the World Athletics Championships and the
Olympic Games continue to play to packed
stadiums and attract TV audiences in theirbillions.
The marketing potential of each edition of theWorld Athletics Championships is excellent with
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COUNCIL REPORTFINANCIAL REPORT 2022

III.

OFFICIAL WORLD ATHLETICS PARTNERS

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COUNCIL REPORTFINANCIAL REPORT 2022

CONSOLIDATED FINANCIAL STATEMENTSCONSOLIDATED STATEMENT OF COMPREHENSIVEINCOME
Note

2022

2021

Television Rights & Sponsorship1

48,724

38,241Other revenue

2

6,199

44 62854,92382 86923,536in k USD
Revenue

Total revenue
ExpensesCompetitions & Events

3

41,627

Grants & Development

4

10,621

9,076

Legal & Compliance512,89013,138Administration

6

6,864

6,898

72,002

52,648

Total expenses
Operating Profit-17,079

30,221

Financial Income

7

590

597

Financial Expenses

8-1,022

-987

-432

-390

Financial Result (Loss)
Share of (loss)/profit on investment in equity

9

Profit for the year

127

-59

-17,384

29,772OTHER COMPREHENSIVE INCOME
in k USD
Profit for the year

Note

2022
-17,384

2021
29,772

15

161

-5

Items that will not be reclassified subsequently to profit or loss
Actuarial gains (losses) on retirement benefit obligations
Items that will be reclassified subsequently to profit or loss
when specific conditions are met
Currency translation differences
Other comprehensive (expense)/income
Total comprehensive income (loss) for the year

0
0
-

161

-5

-17,222

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COUNCIL REPORTFINANCIAL REPORT 2022

CONSOLIDATED BALANCE SHEETNote

in k USD
AssetsIntangible assets
Property, plant & equipment

10

Long term financial assets
Investments in equity-accounted investees

9Non-current assets

2022

2021

134

268

4,629

5,324

211

211

600

472

5,574

6,275

Trade receivables

11

841

373

Prepayments & tax receivables

11

602

505
21,644

Other receivables

11

8,585

Contract assets

12

0

0

Cash and cash equivalents

13

46,05153,589Current assets

56,07976,111

Total assets

61,65382,386

Reserve Fund

10,00010,000General Fund

50,86820,934

Profit/loss of the year

-17,384

29,772

14

43,48460,706

Trade payables

17

3,939

4,235

Other payables and accrued expenses

18

8,489

7,323

Financial liabilities

16

232

253

Deferred income

19

2,370

4,655

15,02916,466

Total equity & reserves (general funds)
Liabilities

Current liabilities
Provisions

15

595

769

Financial liabilities

16

2,294

2,511

Deferred income

19

250

1,935

Non-current liabilities

3,139

5,214

Total liabilities

18,16921,680Total liabilities and reserves

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COUNCIL REPORTFINANCIAL REPORT 2022

CONSOLIDATED STATEMENT OF CASH FLOWS
Notein k USD
Operating activities

Net result for the year
Net financial /expense
Depreciation
Share of loss (profit) on investment in equity
Increase/(Decrease) in provisions for pension obligations(Increase)/Decrease in receivables(Increase)/Decrease in contract assets
Increase/(Decrease) in payables

7,8
10
9
15
11
12
17,18

Net cash generated by operating activities

2022

2021

-17,384

29,772

432

390

1,027

1,118

-127

59

-173

-461

8,524

-23,493

0

5,781

884

1,202

-6,81814,367

-198

-172

0

0

-198

-172

Investing activities(Purchase)/sale of property, plant & equipment

10(Purchase)/sale of intangible assets
Net cash (used)/generated in investing activities
Proceed from new loans / borrowings

10

0

0

Reimbursement of loans / borrowings

10

-309

-472

Interest received

7

0

32

Interest paid

8

-215

-215

-523

-655

-7,53813,54153,58940,048Net cash used in financing activities
Net (decrease)/increase in cash & cash equivalents
Cash & cash equivalents as at 1 January

13

Net increase/(decrease) in cash & cash equivalents-7,53813,541

Cash & cash equivalents as at 31 December

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COUNCIL REPORTFINANCIAL REPORT 2022

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

in k USD
As at 31 December 2020

Reserve Fund

Other Reserves
Transfer fromincome10,00020,939Net income allocation-

Actuarial loss on retirement benefit
obligations, net of taxes
Other comprehensive income forthe period
Profit for the year-

30,939
-

(5)

(5)

(5)

(5)
-

29,772-

29,768-29 76810,00050,706-60,706

Net income allocation
Actuarial loss on retirement benefit
obligations, net of taxes
Other comprehensive income forthe period

-

-

-

161

161

161

161

(17,384)-(17,384)-(17,222)-(17,222)

10,00033,484-

43,484

Profit for the year
Total comprehensive income for theperiodAs at 31 December 2022

Total equity

29,772

Total comprehensive income for theperiodAs at 31 December 2021

Transfer fromincome statement

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COUNCIL REPORTFINANCIAL REPORT 2022

SIGNIFICANT ACCOUNTING POLICIESThis note provides a list of the significant accounting policies adopted in the preparation of these
consolidated financial statements. These policies have been consistently applied to all the years presented,
unless otherwise stated. The financial statements are for the Association consisting of World Athletics andits subsidiaries.

A.

GENERAL INFORMATION AND STATEMENT OF COMPLIANCE

World
Athletics’consolidated
financialstatements for the year ended 31 December
2022 have been prepared in accordance with the
IFRS as adopted by the European Union. Thesestandards are available on the European Union’s
website at:https://ec.europa.eu/info/business-economyeuro/company-reporting-andauditing/company-reporting/financialreporting_en#ifrs-financial-statements.

B.

The financial statements are accompanied bydisclosures deemed to be material as required byregulation no. 1606/2002 of the European
Parliament and of the council, which areavailable on the European Union’s website at:https://ec.europa.eu/info/law/internationalaccounting-standards-regulation-ec-no-16062002_en

BASIS OF PREPARATION
New and amended standards adopted by the
Association

Going concern
The financial statements have been prepared ona going concern basis, under the historic costconvention, except for the following:•••

The Association has applied the following
standards and amendments for the first time for
their annual reporting period commencing 1
January 2022:

certain financial assets and liabilities(including derivative instruments),
certain classes of property, plant andequipment and investment property –measured at fair value
assets held for sale – measured at fairvalue less costs to sell, anddefined benefit pension plans – plan
assets measured at fair value.

•
•
•

•

Management has concluded that the Association
has adequate resources to continue in operation
for at least the next 12 months from 31
December 2022 and that the going concern basisof accounting remains appropriate.

Annual Improvements to IFRS Standards
2018-2020 Cycle.
Reference to the Conceptual Framework(Amendments to IFRS 3)
Property, Plant and Equipment — Proceeds
before Intended Use (Amendments to IAS
16)
Onerous Contracts — Cost of Fulfilling aContract (Amendments to IAS 37)

The amendments listed above did not have any
impact on the amounts recognised in prior andWORLD ATHLETICS FINANCIAL REPORT | p. 172022 ANNUAL COUNCIL REPORT
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current periods and are not expected tosignificantly affect the current or future periods.

•••

IFRS standards, amendments or interpretations
adopted by the European Union applicable after
2022 :••C.

•

Deferred Tax related to Assets and Liabilities
arising from a Single Transaction(Amendments to IAS 12)
Lease Liability in a Sale and Leaseback(Amendments to IFRS 16)

Classification of Liabilities as Current or NonCurrent (Amendments to IAS 1)
Amendments to IFRS 17
DisclosureofAccounting
Policies(Amendments to IAS 1 and IFRS PracticeStatement 2)
DefinitionofAccounting
Estimates(Amendments to IAS 8)

The Group has decided not to apply thesestandards early.

CONSOLIDATION PRINCIPLES AND PERIMETER
the power to participate in the financial andoperating policy decisions of that entity but does
not have the power to exercise control or joint
control over those policies. Under the equity
method, the investment is initially recognised atcost, and subsequently adjusted to reflectchanges in the net assets of the associate or joint
venture.

The Association consolidates its subsidiaries, i.e.
entities directly or indirectly controlled by the
Association. The Association controls an entity
when (i) it is exposed to, or has rights, to variable
returns from its involvement with the entity, and(ii) it has the ability to affect those returns
through its power over the entity.
Subsidiaries are accounted for using the fullconsolidation method from the date the
Association obtains control and until the
Association loses control of the subsidiary.

The perimeter of the consolidation is comprisedof World Athletics and World Athletics
Productions Ltd, partially owned by World
Athletics (50%) and recorded as equity
accounted investment.

Entities over which the Association has joint
control or significant influence are accounted forusing the equity method. The Association is
generally presumed to have significant influencewhen it holds at least approximatively 50% of theentity’s voting rights. The Association exercises
significant influence over an entity when it has

World Athletics has the ability to exercise
significant influence over this entity andconcluded this investment should be recorded as
equity accounted investment.

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D.

CURRENCY TRANSLATION
Transactions in currencies that are not the US
dollar are translated into US dollars at thetransaction date exchange rate.

The consolidated financial statements arepresented in Thousands of United States Dollars,
the functional currency of the Association at theexchange closing rate. Any resulting exchange
differences are recognised in the statement ofcomprehensive income.

E.

Monetary assets and liabilities whose currency is
not US dollars are translated into US dollars at
the closing exchange rate.

TANGIBLE FIXED ASSETS
equipment are recognised in the consolidated
statement of comprehensive income.
Depreciation is calculated on a straight-line basis
over its estimated useful lives that are as follows:

Property, plant and equipment are measured atcost less accumulated depreciation andaccumulated impairment losses. Gains andlosses on the disposal of property, plant andOffice furniture and equipment
Computer equipment
Leasehold improvements
Motor cars

5 to 10 years
5 years
up to 15 years
5 yearsincremental borrowing rate, which is a risk-freerate adjusted to reflect the specific risk profile ofWorld Athletics. Because lease payments are
spread over the lease term, the Association
applies a discount rate based on the duration of
those payments.

Leases contracted by the Association areaccounted for in accordance with IFRS 16(Leases). The Association recognises a right-ofuse asset and a lease liability for all of its lease
contracts, except for (i) leases relating to lowvalue assets and (ii) short-term leases (12months or less). Payments made in respect ofleases not recognised on the balance sheet arerecognised as an operating expense on astraight-line basis over the lease term.

The payments used to determine the liability for
future lease payments exclude non-lease
components but include fixed payments that the
Association expects to make to the lessor overthe estimated lease term.

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future lease payments is discounted at theWORLD ATHLETICS FINANCIAL REPORT | p. 19

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ACCRUALS AND PROVISIONS
specific circumstances justify the balance to be
maintained in the balance sheet.

A provision is recognised when World Athletics
has a legal or constructive obligation towards a
third party as a result of a past event, when it isprobable that an outflow or economic benefits
will be required to settle the obligation and whena reliable estimate can be made of future cash
outflows.

Payables are not interest bearing and are statedat their nominal value.
Contingent liabilities are not recognised unlessthe likelihood of a liability is probable. They aredisclosed in the notes to the financial statements
unless the possibility of an outflow of economic
resources is remote.

Any accrued liability not consumed within two
years after the recognition date shall be reversedin the consolidated income statement unlessG.

PENSION OBLIGATIONSThe net interest cost is calculated by applying thediscount rate to the net balance of the defined
benefit obligation. This cost is included in
employee benefit expense in the statement of
profit or loss.

The retirement benefit obligations relate to
Monaco employees. Under legislation in
Monaco, the Association is required to provide a
pension based on legal requirements, or, on thecollective labor agreement requirements if theseones are more advantageous than legal. For
Monaco employees, pensions are computed
based upon the last twelve months grossremuneration, excluding bonuses and othercomplementary remuneration. The liability
which is paid once upon the retirement of theemployee is recognised in the balance sheet inrespect of these defined benefit pension plans.
This is the present value of the defined benefit
obligation at the end of the reporting period. The
defined benefit obligation is calculated each year
using the projected unit credit method. The
present value of the defined benefit obligation isdetermined by discounting the estimated future
cash outflows using interest rates of high-quality
corporate bonds that are denominated in thecurrency in which the benefits will be paid, andthat have terms approximating to the terms of
the related obligation.

Remeasurement gains and losses arising fromexperience adjustments and changes in actuarial
assumptions are recognised in the period inwhich they occur, directly in othercomprehensive income. They are included inretained earnings in the statement of changes inequity and in the balance sheet.

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H.

DEBTORSfinancing components, when they are recognised
at fair value. The Association holds the tradereceivables with the objective to collect thecontractual cash flows and therefore measuresthem subsequently at amortized cost using theeffective interest method.

Trade receivables are amounts due from
customers for services performed in the ordinary
course of business. They are all classified as
current. Trade receivables are recognised initiallyat the amount of consideration that is
unconditional unless they contain significant

I.

REVENUEare accounted for on the basis of the value of inkind contribution.

Revenue is recognised to the extent that it isprobable that the Association will derive
economic benefit from it and that the revenue
can be reliably measured.
World Athletics related revenue
primarily of the following items:••••

During 2018, an amendment to the agreement
for the period of 2020-2029 was signed. This new
agreement calls for a minimum guarantee overthe 10-year period of US$130m. The agreement
for commercial Sponsorship also includes a
profit-share income clause.

consists

television rights (e.g., media rights)
commercial rights (e.g., sponsorship)value in kindtechnical certification

The performance obligations are identified as theright to access intellectual property and as suchrevenue is recognised on a straight-line basis
over the term of the contract.

The exclusive broadcast partners payment isreceived twice per year and covers the broadcast
rights for all World Athletics events for the year.
The current agreement was signed in April 2018
and covers the period from 1 January 2018 to 31
December 2023.

For profit share revenue recognition,
management
exercises
itsjudgement
to determine an estimate of the profit sharedirectly attributable to the financial year andrecognises this in the period it is earned.

Commercial sponsorship income is split in threeparts: the first part corresponds to theCommercial rights and yearly invoices amounts
to US$8.5m per year. The second part relates to
the TV rights in Japan which generates a revenueof US$4.5m per year. The third part relates tocommission based on the value in kind undersponsorship contracts. Value in kind in the formof products and services supplied by sponsors foruse in events and is recognised as revenue andexpenses in the consolidated statement ofcomprehensive income. Commissions on value inkind due to the Association’s marketing partner

Technical certifications provided by World
Athletics are performed at a point in time with acertification duration of three or five years,
regarding sportive infrastructures. Revenue
generated from Technical certifications is
recognised at a point in time when the technicalcertification is provided.
The performance obligations have been
determined for each contract and the revenue
recognition method for each contract has been
determined in accordance with IFRS 15.

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J.

OPERATING EXPENSES
marketing, promotion, publications, hospitality
and other event expenses), information
technology, employee salaries and benefits,depreciation and amortization of non-current
assets.

Total expenses are the gross outflow of
economic benefits that arise from the ordinary
activity of organising an event as well as fromWorld Athletics administrative activities.
Total expenses consist primarily of the following
items: contributions to member federations,anti-doping integrity unit, event expenses (direct
event expenses, broadcast and media,

K.

Expenditure relating to future events is deferred
and recognised in the consolidated income
statement when the event takes place

FINANCIAL INCOME AND EXPENSES-

The financial income and financial expenses
include the following:- financial income, consisting of interest
income from interest-bearing assets, aswell as realised and unrealised foreignexchange gains;

financial expenses comprising realised
and unrealised foreign exchange losses
as well as bank charges and any interest
costs.

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L.

FINANCIAL RISK MANAGEMENT

The Association’s overall risk management program focuses on the unpredictability of the financial
markets and seeks to minimise any potential adverse effects on the Association’s financial performance.
The Management Board provides principles for the overall management of risks such as foreign exchangerisk, credit risk and liquidity risk.
(a)Foreign exchange risk

The Association operates internationally and is exposed to foreign exchange risk arising from transactions
denominated in currencies other than the United States Dollar, which is the functional and presentation
currency of the Association.
Operating income/expenses and the cash flows of the Association are affected by exchange rate
fluctuations, principally between the Euro and the US Dollar. The Association estimates that the impact inabsolute terms of a 10% increase or decrease in this rate on its operating income for the year ended 31
December 2022 would not have been material.
During the periods presented, the Association did not engage in any hedging operations.
(b)

Credit risk

Credit risk is managed on an Association-wide basis. Credit risk arises from cash and cash equivalents, anddeposits with banks and financial institutions, as well as credit exposure to customers, including
outstanding receivables and committed transactions. The credit risk on receivables is mitigated by thequality of the client.
Credit risk linked to cash, deposits and current financial instruments is not material given the quality of
the financial institutions’ counterparties.
(c)Liquidity risk

Management monitors rolling forecasts of the Association’s liquidity requirements on a quarterly basis toensure it has enough cash available to meet its operational needs. Expenditure trends are balanced withcommitted revenues to ensure adequate liquidity is maintained.
World Athletics benefits from long term Commercial and Broadcast contracts that provide flexibility inmanaging operational cash needs. In addition, the Olympic Dividend generally received every four years
allows the Association to smoothen its long-term expenditure patterns.

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M. CRITICAL ACCOUNTING ESTIMATES AND JUDGMENT
judgement todeterminetheuniqueperformance obligation, which is defined as theright to access intellectual property.

The preparation of financial statements requires
the use of accounting estimates which, bydefinition, will seldom equal the actual results.
Management also needs to exercise judgement
in applying the Association’s accounting policies.

Accrual of profit share expectation forthe year. Management exercises its judgement
to determine an estimate of the profit sharedirectly attributable to the financial year andwhen the recognition criteria has been met.

This note provides an overview of the areas thatinvolved a higher degree of judgement orcomplexity, and of items which are more likely to
be materially adjusted due to estimates andassumptions turning out to be wrong. Detailed
information about each of these estimates andjudgements is included in other notes together
with information about the basis of calculationfor each affected line item in the financial
statements.

Value in kind amount for year included inrevenue. Management is required to estimate
the fair value of any value in kind goods orservices received during the period and record
these amounts as revenue and expenses.
Determining fair value requires management toexercise significant judgement. In the event fairvalue cannot be reasonably estimated, no value
is recognised.

Television rights and commercial rights
performance obligations. Management uses its

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Notes to the consolidated statement of comprehensive
income1. REVENUE FROM BROADCAST RIGHTS AND SPONSORSHIP RIGHTS
2022

2021

Broadcast Rights

14,725

14,725in k USD
Commercial Rights

13,00013,000Commercial Rights (Profit share)

7,977

5,712

Value in kind

11,672

3,424

Diamond League

1,350

1,380

Total revenue from Broadcast Rights and Commercial Rights

48,724

38,241

2. OTHER REVENUE FROM ACTIVITIESin k USD
Olympic Dividend
Russian Athletics Federation reimbursement
International Olympic Committee Development program contribution
World Athletics certification system

2022

2021

0

39,478

1,113

1,532

250

250

1,593

1,416

23

43

Other income

3,219

1,908

Total revenue from other activities

6,199

44,628Court of Arbitration for Sport refund

Other revenue includes monies received across a host of miscellaneous areas and some of the significant
ones included are reimbursements that offset an equal amount included in expenditure. Examples include
the Russian Athletics Federation reimbursement and ‘Other income’ which includes income received fromthe Label Road Race program and out-of-competition anti-doping testing.
Certification income pertains to monies received from across the globe where World Athletics assists indefining and measuring standards for tracks and equipment used in athletics events.
The Olympic Dividend is received once in every 4-year Olympic cycle in the year when the games are held
and hence there is no corresponding Olympic dividend received from the International Olympic Committee
during 2022.

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3. COMPETITION AND EVENTS
in k USD

2022

2021

World Athletics Series Competitions

8,828

1,453

Diamond League

2,479

2,464

Olympic Games

7

1,390

WA Tours & Permit

1,881

1,286

Other expenses (Competition & Events)

1,688

1,032

Staff costs and consultants

2,273

2,030

Competition & Events

17,155

9,655

Value in kind commissions

13,128

3,852

Information technology

3,508

3,504

Broadcasting

1,493

1,392

Marketing

1,093

762

Commercial partnerships
Communication & publications
Health & science
Total Competition and Events

494

430

3,946

3,190

810

751

41,62723,536This includes spend on our World Athletics Series (WAS) events and costs for departments that work mostclosely with our event cycle.
2022 had a full calendar of events and we hosted four World Athletic Series (WAS) events during the year.
These included our World Championships, World Indoor Championships, World Race Walking TeamChampionships, and the World Under-20 Championships. In comparison we hosted only two WAS events
during 2021. This is the primary driver for the increased spend in 2022. In addition, 2022 saw an improved
cycle of events within our Member Federations and the Area Associations. Our other departments thatclosely support our annual events cycle were also able to execute on more activities and projects insupport of these events. Consequently, the overall spends by department included above are higher in
2022.

The above total includes our annual spend towards the support we offer to the Diamond League. Also
included in this total is the support we offer to the World Athletics Continental Tour, World Athletics
Indoor Tour, World Athletics Cross Country Tour, World Athletics Race Walking Tour, and World Athletics
Combined Events Tour.

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4. GRANTS AND DEVELOPMENTin k USD

2022

2021

Area Development grant (a)

1,588

1,418

Education

787

683

Other items

361

275

Staff costs

1,026

992

Area Administration grant (b)

1,450

1,450

Competition grant (c)

2,257

1,041

Member Federation grant (d)

1,675

1,591

Athletics Olympic dividend (e)

0

1,574

Athletics Grant for Growth (f)

1,358

0

119

54

10,621

9,076

Continental program, exceptionnal support & tracks
Total Grants and Development

This includes World Athletics spend on the Development of the sport and the support that we offer to ourMember Federations and Area Associations.
The reduced impacts coming from Covid-19 since 2021 are the primary drivers for increased activity andproportionately higher spends particularly with regards to the Competition grant following the resumptionof a full calendar or events across the majority of the Areas. In addition, increases in the Area Development
grant, Education and Member Federation grant all reflect increased activities. 2021 marked the end of the
2-year cycle for the Athletics Olympic Dividend grant. Instead a new one-year project-based grant, Grant
for Growth, was provided to Member Federations to support deliver of projects aligned to the actions in
the World Plan for Athletics 2022-2030.
Area Development grants (a) are paid annually to support Area Associations to deliver development andeducation programs primarily through the Area Development Centres (ADCs). The Areas determine theirbusiness plans and activities to be supported based on the needs of their member federations and within
an agreed development framework with World Athletics providing a supporting and oversight role. The
Areas are responsible for the day-to-day management of the ADCs in their respective region and for theselection and organisation of educational coaching courses and seminars. Two activities remain mandatory
at the ADCs – women’s and youth.
Area Administration grants (b) are paid annually to assist Area Associations to operate and include:•••

Maintaining a permanent office as HQ
Defraying costs of rent, utilities, internet, telephone, website, office supplies, staff salaries,
institutional meetings and other costs
Supporting the delivery of institutional meetings.

Area Competition grants (c) are paid annually to support the organisation and delivery of competitions at
a continental level including:•••

Regional and International Competitions
Area Championships
One-day Continental Tour meetings.

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Member Federation grants (d) are paid annually to ensure the Member Federation can function and meetits basic membership obligations. It covers:•••

Administration (including staff, office, utilities and communication equipment)
Organisation (national championships)
Travel to competitions.

Athletics Olympic Dividend grant (e) was a 2-year project-based grant designed to provide tailoredsupport across the 2-year (2020-2021) period to meet Member Federations individual strategic priorities
focused on the delivery of activity within one of the following five areas:
•
•
•
•
•

Provide education and training
Provide equipment
Support development and delivery of competitions
Support athletes (training, competition, talent ID)
Supports youth and grassroots projects (mass participation and school projects).

Grants for growth (f) is a one-year project-based grant designed to support Member Federations to deliver
the identified actions and objectives within the World Plan for Athletics. Member Federations can use thegrant to help deliver any of the Member Federation actions listed under the four strategic goals dependent
on their own priorities and needs.

5. LEGAL AND COMPLIANCE
in k USD
Congress

2022
0

2021
178

World Athletics Council and Executive Board

1,214

991

93

0

World Athletics committees
World Athletics Independent Ethics Board
World Athletics working groups

0

91

1,106

1,315

International Associations meetings

84

48

Staff costs

465

539

Governance

2,962

3,160

Athletics Integrity Unit

8,877

8,809

Legal

1,050

1,168

Total Compliance12,89013,138This includes World Athletics spend on Governance activities, Legal & Regulatory spend and spend
associated with the Athletics Integrity Unit (AIU).
We have continued to embrace the new normal of hosting meetings virtually wherever possible. That said,
there has been a logical increase in face-to-face meetings for our Council, Executive Board and ourGovernance groups through the year.

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The AIU is an independent body created by World Athletics that manages all integrity issues – both doping
and non-doping – for the sport of athletics. Their annual budget is approved by the World Athletics
Executive Board. The total AIU spend as shown above includes amounts reimbursed by the Russian
Athletics Federation that have been shown as income in ‘Other Revenue’.
Our Legal costs continue to trend downwards as an outcome of reduced litigation spend and significantly
reduced external dependence on Legal advisors.

6. ADMINISTRATION
in k USD

2022

2021

Administration

5,053

5,084

Amortisation

1,027

1,118

Heritage
Total Administration

783

696

6,863

6,898

This includes spend for our administrative departments such as Finance, Human Resources and Heritage
along with their associated staff costs. Expenses such as Audit fees, rentals, telephony, travel, andtranslation are all included here.
Continued rationalisation of our administration spends has meant that the total costs for 2022 are in-linewith our spend in the previous year.

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7. FINANCIAL INCOME
in k USD

2022

2021

Foreign exchange

534

288

Interests

56

309

Financial income

590

597

This includes our financial incomes during the year primarily related to the multi-currency impacts fromour business operations.

8. FINANCIAL EXPENSES
in k USD

2022

2021

Foreign exchange

734

235

Bank charges

144

112

Interest expense

121

633

Post-employment benefit obligations

22

7

1,022

987

Financial expenses

This includes financial and bank charges incurred during the year.

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Notes to the consolidated balance sheet

9.

INVESTMENTS IN EQUITY
2022

2021

Carrying amount as of January 1st

472

531

Share of profit / (loss) on investment in equity

127

-59

600

472

in k USD
Significant influence

Investment at cost
Investments in equity as of December 31st

Investments in equity are related to World Athletics Productions Ltd, partly owned by World Athletics(50%).
World Athletics Productions Ltd
in k USD

2022

2021

Current Assets

2,220

7,187

Current Liabilities

1,488

6,701

Revenue

14,2382,422

Profit/(loss)

255

-118

Furthermore, World Athletics holds a 6% investment in Nitro Athletics Australia which is held at nil value.

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10.

PROPERTY, PLANT AND EQUIPMENTThe Right of Use of assets detailed below predominantly relates to leased offices premises.
Property, plant and equipment break down as follows:
Officefurniture &equipment

Computerequipment

Leaseholdimprovements

Motor cars

Right of use of
asset

Total

630

2,204

4,555

82

4,059

11,530

4

194

634

2,398

4,555

82

4,059

11,728

381

1,619

2,368

82

1,755

6,206

Depreciation

62

229

339

263

893

Balance as of 31
December 2022

443

1,848

2,708

82

2,018

7,100

Net carrying
amountAs of 31
December 2021
As of 31
December 2022

248

585

2,187

0

2,304

5,324

190

549

1,848

0

2,041

4,628

in k USD
Cost
Balance as of 31
December 2021
Additions
Balance as of 31
December 2022
Accumulated
depreciation
Balance as of 31
December 2021

198

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11.

TRADE RECEIVABLES AND OTHER RECEIVABLES
2022

2021

in USD

Gross

Provision

Net

Net

Trade receivables

1,073

232

841

373

Trade receivables

1,073

232

841

373

in USD
Receivables from directors

Gross
22

Provision

Net
22

Other receivables

9,278

715

8,564

21,641Other receivables & current assets

9,300

715

8,585

21,644

141

86

461

419

602

505

2022

Prepayments

141

Tax receivables (VAT)461

Prepayments & tax receivables

602

2021

0

Net
3

Trade receivables and other receivables that are not yet due are not considered impaired. The main
reasons for the decrease in other receivables at the end of 2022 is on account of a receivable from Dentsu
for the profit share payable to World Athletics for 2020-2021 and the final instalment of our Olympic
Dividend due from the IOC which were included in the 2021 numbers. These amounts were subsequently
received in 2022. Other receivables for 2022 are primarily made up of 50% of Dentsu profit sharereceivable for the 2022-2023 cycle.
Allowances for doubtful accounts amounted to US$715k in 2022, with no variation compared to 2021.

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12.

CASH AND CASH EQUIVALENTS

Cash and cash equivalents break down as follows:in k USD

2022

2021

US Dollars

43,824

52,988Other currencies

2,216

589

Deposit and current accounts

46,04053,577US Dollars

1

1

Other currencies

10

11

Cash on hand

11

12

46,05153,589Total cash and cash equivalents

As of 31 December 2022, this item comprised cash at bank of US$46,051k. There are no short-term
investments.

13.

EQUITYThe change in equity from 2021 to 2022 is on account of loss during the year of US$17,384k.

14.

POST-EMPLOYMENT BENEFIT AND SIMILAR OBLIGATIONS
Post-employment benefit obligationsin k USD
Balance as of 31 December 2021

769

Operating costs-35

Financial expense

22

Other comprehensive expense-161

Balance as of 31 December 2022

595

The pension obligation is unfunded and therefore, no pension assets are held by World Athletics.
Furthermore, the changes of the significant actuarial assumptions were considered as not significant in
the context of the consolidated financial statements. The main impact of the decrease is related to the
sharp rise in discount rates (2021 : 0,95% and 2022 : 3,77%).
The significant actuarial assumptions were as follows:- Assumptions regarding future mortality are set based on actuarial advice in accordance with publishedstatistics and experience in the region (INSEE 2015-2017 mortality table). These assumptions translate into
an average life expectancy in years for a pensioner retiring the ages of 62 for employees, and 63 formanagement.
- Probability of departure before retirement age for current employees.

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- Financial discount rate of 3.77% and salary increase rate of 5.55% for the pension obligation as of 31
December 2022

15.

FINANCIAL LIABILITIES CURRENT AND NON CURRENT

in k USD

2022

Current financial liabilities

232

2021
253

Non-current financial liabilities

2,294

2,511

Total lease liabilities

2,525

2,763

The financial liabilities balance as shown above is comprised of lease liabilities under IFRS 16. Of the total
payable of US$2,525k, the amount due in the next 12 months is US$232k, amount due between 1 and 5
years is US$785k and the amount due in more than 5 years is US$1,509k.

16.

TRADE PAYABLES

in USD

2022

2021

Trade payables

3,939

4,235

Trade payables

3,939

4,235

Trade Payables include dues for regular operating expenses incurred by the Association. This amountprimarily pertains to expenses for 2022 that were paid after the cut-off date of 31 December 2022.

17.

OTHER PAYABLES & ACCRUED EXPENSES

in k USD

2022

Payable to directors

108

138

Other payables

7,203

6,108

Accrued expenses

1,179

1,077

Tax payables
Other payables & accrued expenses

2021

0

0

8,489

7,323

Other payables as of 31 December 2022 are primarily made up of expenditure around Grants given to Area
Associations and Member Federations that have not been paid yet, Prize money payments due for 2022
events, and Bid guarantees received from hosts of our future World Athletic Series events. All of these
expenses will be settled during 2023.
Accrued expenses as of 31 December 2022 include amounts due for unpaid vacation for staff and relatedsocial contributions. No major variance compared to 2021.

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18.

DEFERRED INCOME

in k USD

2022

2021

Current deferred income

2,370

4,655

250

1,935

2,620

6,590

Non-current deferred income
Deferred income

Current deferred income amounts include US$1,705k from television rights and sponsorships contracts,and US$670k related to future World Athletics events which are scheduled to be held in 2023.
Non-current deferred income consists of US$250k received as advance payments against events that will
be held in future years.

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OTHER DISCLOSURES

19.

FINANCIAL RISK MANAGEMENT

The different types of financial risks and their impacts are detailed in note L of this document.

20.

COMMITMENTS GIVEN AND CONTINGENT LIABILITIES AND OFF-BALANCESHEET EVENTS

Consequent to a loan agreement signed with Diamond League AG (“DLAG”) in October 2021, World
Athletics agreed to provide DLAG with a loan of US$2m payable in two instalments as of 31 March 2023
and 31 March 2024. The loan will be fully reimbursed to World Athletics by the end of June 2025. The first
instalment of this loan was paid during March 2023. Other than this, there are no commitments,
contingent liabilities and off-balance sheet events that management is aware of and need to be disclosed
separately.

21.

POST BALANCE SHEET EVENTS

A review was undertaken by management to assess any consequences on the financial statements arisingfrom the Russia-Ukraine conflict or from the resulting sanctions imposed on Russia. It was concluded there
are no material impacts on the consolidated financial statements.

22.

RELATED PARTIES

Under IFRS guidelines, the following are treated as related parties: Executive Board Members, Council
Members, President, Chief Executive Officer, Diamond League, and World Athletics Productions Ltd. The
table below includes amounts paid to related parties during the year.
in k USD
Executive Board, Council Members, President, and Chief Executive Officer
Allowances
Other benefits (housing)
Other long-term benefits (retirement)

2022
1,061
994
19
48

2021
1,127
1,031
42
54

Amounts paid to World Athletics Productions Ltd. during 2022 were US$2,525k primarily on account ofsalary reimbursements and office costs. A loan agreement from World Athletics to World Athletics

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Productions Ltd has been signed in 2018 for US$234k. Of this amount, World Athletics received areimbursement of US$117k during 2022.
Amounts paid to Diamond League during 2022 were US$2,659k primarily to cover costs in relation to
Diamond League meets that were held during the year. As of 31 December 2022 amount due to Diamond
League was $0.
In 2022, World Athletics has recorded an amount of US$158k payable to the Complete Leisure Group, forservices and workspace of an executive assistant to the President during time spent in London inconnection with World Athletics business, provided at cost pursuant to a secondment agreement.

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A

B

R E M U N E R AT I O N
POLICY 2022

COUNCIL REPORTREMUNERATION POLICY 2022

World Athletics position

Remuneration and expenses

Executive Board(base fee for all members including President andVice-Presidents)

USD 22,500 per annum

Chair of EB Committee(supplementary fee)

USD 2,500 per annum

President

USD 250,000 per annum (plus EB base fee above)

Council(all members, including Executive Board members)

Per diem of USD 300 per day, plus allowance of
USD 6,000 per annum
Travel, meals and accommodation provided by World
Athletics (travel based on business class airfare plus perdiem for each day (12 hours) of travel)
Per diem of USD 300 per day, plus allowance of USD 3,000
per annum and:• USD 12,000 per annum (if lives in the same city as Area
headquarters)

Council(Area Presidents)• USD 18,000 per annum (if does not live in the same city
as Area headquarters)
USD 1,000 per EB meeting chaired (if the President isabsent)Senior Vice-President

Commissions(members other than Council Members)

Per diem of USD 50 per day

Working Groups and Panels(members other than Council Members)

Per diem of USD 50 per day

Travel, meals and accommodation covered

Travel, meals and accommodation covered

Athletics Integrity Unit (AIU) Board members(independent members and supplementary fee forCouncil Member)

USD 15,000 per annum

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World Athletics position

Remuneration and expenses

AIU Board Chair

USD 25,000 per annum

Vetting Panel members

USD 25,000 per annum

Vetting Panel Chair

USD 50,000 per annum

Disciplinary Tribunal members

Fixed rate for each case, plus associated expenses

Disciplinary Tribunal Chair

USD 33,000 annual retainer

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