{"id":11281,"date":"2026-10-26T09:36:39","date_gmt":"2026-10-26T08:36:39","guid":{"rendered":"https:\/\/fondazionecortina.com\/?p=11281"},"modified":"2026-10-27T14:41:42","modified_gmt":"2026-10-27T13:41:42","slug":"fondazione-cortina-closes-its-olympic-year-with-e13-7-million-in-revenue-and-a-33-increase-in-net-assets","status":"publish","type":"post","link":"https:\/\/fondazionecortina.com\/en\/press-releases\/fondazione-cortina-closes-its-olympic-year-with-e13-7-million-in-revenue-and-a-33-increase-in-net-assets\/","title":{"rendered":"Fondazione Cortina closes its Olympic year with \u20ac13.7 million in revenue and a 33% increase in net assets"},"content":{"rendered":"<ul>\n<li><b>\u20ac26 million in direct impact on the local area across four years of activity<\/b><\/li>\n<li><b>More than 140 staff involved in organising the Games, 29,000 access permits managed, 12 athletes from the Progetto Giovani programme selected for the Games and 6 medals won.\u00a0<\/b><\/li>\n<li><b>The Olympic legacy phase now begins, with a busy calendar of sporting events already scheduled for the 2026\/27 season.<\/b><\/li>\n<\/ul>\n<p><i><span style=\"font-weight: 400\">Cortina d&#8217;Ampezzo, 26 October 2026<\/span><\/i><span style=\"font-weight: 400\"> \u2013 Fondazione Cortina closed the financial year ending 30 June 2026 with <\/span><b>a net profit of more than \u20ac202,000 <\/b><span style=\"font-weight: 400\">(+120%) and<\/span><b> net assets exceeding \u20ac818,000<\/b><span style=\"font-weight: 400\"> (+33%). The result caps a year defined by the preparation and local delivery of the Milano Cortina 2026 Olympic and Paralympic Winter Games, the culmination of the path Fondazione Cortina set out on in 2022 \u2013 <\/span><b>a path that has generated \u20ac26 million in direct impact on the Veneto region<\/b><span style=\"font-weight: 400\">.<\/span><\/p>\n<p><b>Revenue more than tripled year on year to over \u20ac13.7 million<\/b><span style=\"font-weight: 400\"> (+125%), a figure that chiefly reflects the completion of the <\/span><b>contracts awarded to Fondazione Cortina by Fondazione Milano Cortina 2026 for the design, organisation, set-up and management of the events and activities connected to the Games on the ground <\/b><span style=\"font-weight: 400\">(\u20ac11.1 million in total). <\/span><b>A further \u20ac1.16 million came from logistics services provided during the Games <\/b><span style=\"font-weight: 400\">to federations, national Olympic committees and commercial partners, alongside \u20ac740,000 in sponsorship and partnership revenue.\u00a0<\/span><\/p>\n<p><b>Over the same period Fondazione Cortina incurred total costs of \u20ac13.3 million<\/b><span style=\"font-weight: 400\"> (+126% on 2025), the majority of which generated direct impact on the local area and on local businesses, which provided support in delivering the various services guaranteed by Fondazione Cortina.<br \/>\n<\/span><span style=\"font-weight: 400\">Fondazione Cortina thus brings an important chapter of work to a close, built on <\/span><b>transparency and sound management<\/b><span style=\"font-weight: 400\">, thanks to <\/span><b>PWC&#8217;s support<\/b><span style=\"font-weight: 400\"> for financial planning and management control, a voluntary audit by <\/span><b>KPMG<\/b><span style=\"font-weight: 400\"> and the voluntary adoption of the Organisation and Management Model under Italian Legislative Decree 231\/2001, overseen by a dedicated Supervisory Board.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Growth in volumes has gone hand in hand with a strengthening of the main balance-sheet and financial indicators: &#8220;<\/span><i><span style=\"font-weight: 400\">The accounts for the Olympic year mark an important milestone for Fondazione Cortina. The Games demanded an extraordinary organisational effort, testing our organisation&#8217;s ability to coordinate skills, professionalism and local stakeholders in an exceptionally complex context. Closing the year with a positive result, stronger net assets and an improved financial position confirms the value of having approached this journey with a focus on economic sustainability and resource management. Our task now is to turn the wealth of skills, relationships and experience built up with Milano Cortina 2026 into lasting opportunities for Cortina, for the Belluno area and for young people, continuing to invest in sport, in promoting our territory and in our capacity to host major international events<\/span><\/i><span style=\"font-weight: 400\">,&#8221; said <\/span><b>Stefano Longo, President of Fondazione Cortina<\/b><span style=\"font-weight: 400\">.<\/span><\/p>\n<p><span style=\"font-weight: 400\">During the year, Fondazione Cortina operated as an <\/span><b>External Delivery Entity (EDE) for Fondazione Milano Cortina 2026<\/b><span style=\"font-weight: 400\">, taking responsibility for the design, organisation, set-up and local management of the women&#8217;s alpine skiing races on the Olympia delle Tofane piste, curling at the Olympic Ice Stadium, and bobsleigh, skeleton and luge at the Cortina Sliding Centre, as well as the Paralympic alpine skiing, snowboard and wheelchair curling competitions. The work involved <\/span><b>more than 140 people, including employees, temporary staff and consultants, together with the coordination of local sports clubs<\/b><span style=\"font-weight: 400\"> (Sci Club Cortina, Curling Club Dolomiti, Bob Club Cortina and Snowboard Club Cortina), which took an active part in the Olympic project by managing the technical and sporting activities for the competitions.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Fondazione Cortina\u2019s remit also included <\/span><b>the complex management of the vehicle pass system for access to the Olympic and Paralympic restricted traffic zone<\/b><span style=\"font-weight: 400\">, with <\/span><b>more than 29,000 permits managed and issued<\/b><span style=\"font-weight: 400\">, as well as <\/span><b>the major Cortina Dolomiti Lounge project<\/b><span style=\"font-weight: 400\">, which established itself as a <\/span><b>space for representation and networking for the local area<\/b><span style=\"font-weight: 400\">. Over the 18 days of the Olympic Games it hosted 68 events, including presentations, talks and institutional conferences, welcoming around 3,000 people. During the 10 Paralympic days it organised a further 25 events with more than 1,100 guests, as well as the Cortina chef team, local businesses and sponsors.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Alongside its Games-related work, <\/span><b>Fondazione Cortina continued its socially useful projects in collaboration with local stakeholders and institutions<\/b><span style=\"font-weight: 400\">, including the launch and management of the <\/span><b>Volontario Dolomitico<\/b><span style=\"font-weight: 400\"> platform, which now has more than 1,000 registered volunteers, and the final stages of the roadshow on Olympic and Paralympic disciplines within the regional &#8220;<\/span><b>Veneto in Action<\/b><span style=\"font-weight: 400\">&#8221; programme. The \u201c<\/span><b>Progetto Scuole<\/b><span style=\"font-weight: 400\">\u201d dedicated to local and regional schools, run with the <\/span><b>Veneto Region and the Regional Education Office and in collaboration with Cortinabanca<\/b><span style=\"font-weight: 400\">, enabled around 3,500 students from Veneto to attend the Paralympic curling, alpine skiing and snowboard competitions. The <\/span><b>Progetto Giovani<\/b><span style=\"font-weight: 400\"> programme, launched in 2023 to support athletes from Veneto on their journey towards the Olympic and Paralympic dream, s<\/span><b>aw 12 team athletes selected for the Games (10 at the Olympics and 2 at the Paralympics), who won 6 medals between them<\/b><span style=\"font-weight: 400\">.<\/span><\/p>\n<p><span style=\"font-weight: 400\">With the Games now over, a new phase begins in which Fondazione Cortina will refocus on organising major international sporting events. <\/span><b>For the 2026\/27 season<\/b><span style=\"font-weight: 400\">, the outdoor events <\/span><b>Cortina 56-26 \u2013 The Legacy Trail<\/b><span style=\"font-weight: 400\"> (25 July) and <\/span><b>The Great Ride<\/b><span style=\"font-weight: 400\"> (17\u201320 September) have already taken place, while major winter fixtures are fast approaching: the <\/span><b>FIS Cortina Snowboard World Cup<\/b><span style=\"font-weight: 400\"> (12 December), the <\/span><b>IBSF Bob&amp;Skeleton World Cup<\/b><span style=\"font-weight: 400\"> (14\u201320 December), the eagerly awaited 2026\/27 <\/span><b>women&#8217;s AUDI FIS Alpine Ski World Cup<\/b><span style=\"font-weight: 400\"> (15\u201317 January 2027) and the <\/span><b>FIL Luge World Cup<\/b><span style=\"font-weight: 400\"> (9\u201314 February 2027), along with <\/span><b>a series of European championships in bobsleigh, skeleton and luge<\/b><span style=\"font-weight: 400\">.<\/span><\/p>\n<p><span style=\"font-weight: 400\">The calendar is complemented by events that promote the Olympic legacy through local, <\/span><b>social and cultural projects<\/b><span style=\"font-weight: 400\"> that will continue over the coming months, including the &#8220;<\/span><b>Cortina Future Talk<\/b><span style=\"font-weight: 400\">&#8221; conference series, dedicated to debate on the issues shaping the future of mountain regions.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>\u20ac26 million in direct impact on the local area across four years of activity More than 140 staff involved in organising the Games, 29,000 access permits managed, 12 athletes from the Progetto Giovani programme selected for the Games and 6 medals won.\u00a0 The Olympic legacy phase now begins, with a busy calendar of sporting events 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