Annual report 2017

Treasurer’s report for 2017

On the left page you can see a short summary of the audited figures for 2016, showing a net profit of €27,000. Turning to 2017, the aim of the budget was again to maintain a positive buffer of €186,000 on a total turnover exceeding €7,800,000. This reflects our philosophy that revenue is to be re-invested into the Society creating benefits and services for our members and stakeholders. At the time of writing, the figures for 2017 are being audited and the final results will be presented for approval at the general assembly during our annual meeting – ESTRO 37 in Barcelona, Spain. Revenues and expenses at the end of 2017 are estimated at €8,300,000 and -€8,252,000 respectively, yielding (including the financial and extraordinary results) a modest estimated net profit of €48,000. Looking back at last year, it has again been confirmed that the ESTRO annual meeting represents approximately 50% of the total revenue, with the technical exhibition being a major contribution. We can also see a steady increase in institutional membership, with 45 institutions in 2017 (five more than in 2016). The defensive profile for the management of the ESTRO reserves proved to be beneficial again in safeguarding our capital (exceeding €2,100,000) within the turbulent financial market of 2017. For 2017, this management strategy resulted in an annual return of investment of approximately 2.2% (2.9% in 2016). Please feel free to contact me at any time with questions or concerns regarding ESTRO’s financial situation, and of course, I look forward to meeting you all at our annual conference in Barcelona.

Warm regards,

Dirk Verellen ESTRO Treasurer

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FINANCIAL REPORT