We are now starting the last year (2020) of the programme called, ‘Enabling the Next Generation’, under a four-year grant of €34 million from the Ministry of Foreign Affairs of The Netherlands, which provides a substantial part of our income.
We closed 2019 with operating revenues totaling €13.6 million (2018: €13,6 million), of which €8,2 million came from the Ministry of Foreign Affairs of The Netherlands for the Enabling the Next Generation programme. €5.4 million came from other income; from this, €1.5 million came from our training centre RNTC. This is a strong growth compared to the previous year (€640k) and reflects the progress made in diversifying the partners we work with. We started new, promising partnerships with, for example, the Swedish Postcode Lottery, Spark, UNESCO, IYF, while other donors such as local Embassies (Belgian, Swiss, Netherlands) intensified their partnership with us. Substantial partnerships such as with AmplifyChange Fund managed by Mannion Daniels, were extended. We also had income from real estate rental and our ownership of dB mediagroep B.V., a Dutch audio tech company.
The Supervisory Board approved a €0,8 million deficit in the 2019 Budget to invest in digital, innovation, new business models. In the course of 2019, they agreed to invest even further in income generation and diversification for 2021-2025, in a growing team to deliver on digital, data, sustainability, and in the process to transform into a project-driven organisation. With extra costs, amongst others for tax, WFOE in China, the total result of 2019 is a deficit of €2,3 million.
Budget plans 2020
Thanks to our hands-on experience and research in prior years, we developed better insights and understanding of the digital arena. We realised RNW Media would need to invest more in data collection, storage, measurement and analysis and in digital innovation and development. Although we already made big steps in these areas -amongst others, thanks to the grant of the Dutch Postcode Lottery- we need to keep investing to keep up with the latest developments and maintain our position as innovator in the field. As a result, the Supervisory Board approved a deficit for 2020 for additional investments in the organisation to develop the creation of a sustainable future.
Note, this is the consolidated budget including dB mediagroep B.V. turnover and costs.
A copy of the Management Report & Financial Statements accompanying the 2019 Annual Report can be downloaded below. The independent auditor's report signed by Dubois & Co. Register Accountants can be sent upon request.