Report of the EPO Finances Committee
The EPO Finances Committee did not submit a report to C102, largely because a Budget and Finance Committee meeting was scheduled for the following week, and reporting seemed premature. The Budget and Finance Committee having met, this report notes that there is some good news. For the first time ever, under International Financial Reporting Standards (IFRS) the EPO has positive equity of €2.9bn: partly due to strong operating performance, partly due to strong financial performance from investments, and partly through reassessment of the EPO’s liabilities.
“One swallow does not make a summer” but this is an encouraging sign.
Let us hope that political/economic issues do not affect what seems to be an encouraging trend for the long term stability of the EPO.
