Despite the pandemic, AFP's commercial revenues rose to 166.4 million euros, an increase at comparable exchange rates of 0.8 million compared to 2019. The increase was driven by the growth of its digital investigation business and its video offering.
Income from the State to compensate for the net cost of the Agency's mission of public interest was 115.5m, down 9m compared with 2019.
Operating expenses were 9.2m lower at comparable exchange rates than in 2019. This contraction was due to two main factors -- on one hand, the impact of the transformation plan, whose implementation costs weighed more heavily in 2019 and whose effects represent in 2020 more than 65% of the 14 million in savings forecast by 2023; and on the other hand, to non-recurring savings linked to the pandemic such as drastically reduced international missions and cancelled sports events.
As a result, the approved financial statements show an operating profit of 8.9 million, up 8% compared to 2019 at comparable exchange rates.
Net income, which in 2019 had been positive for the first time since 2013, at 0.4 million, reached in 2020 the historic level for the Agency of 5.3 million. This will be used to accelerate AFP's debt reduction.
The start of 2021 is similar to what AFP experienced in 2020: an increase in commercial revenues and control of expenses under the combined effect of the transformation plan and the pandemic.
This month, AFP is starting work on the renovation of its historic headquarters at Place de la Bourse, which has been emptied of its occupants. The work is expected to last 13 months, for a cost of 8.8m. The operation will enable the Parisian editorial staff to be brought together on a single site, which will make for greater fluidity and speed. The savings in rent generated by the regrouping of all the Paris teams will be 2.5m in a full year.
Finally, AFP has restructured its debt, which should enable it to save 6.7m in cumulative interest over the life of its existing loans.
Download PDF version
More from AFP
08/12/2022
True to its promise, it was imperative that it be as close as possible to the needs of information and communication professionals. MediaConnect, a new digital ...
02/12/2022
The decision following a tender offer cements AFP's position as a major player in the fight against disinformation in Europe.
Following a hub for Germany a...
17/11/2022
Over the past year, the EFCSN project has brought together nearly 50 fact-checki...
10/11/2022
The board announced its decision after auditioning Fabrice Fries about his strategic plans for the agency and the significant turnaround in the agency's fin...
07/11/2022
The second AFP photo auction raised nearly 200,000 euros, including nearly 15,000 euros for the first three NFTs offered by the agency.
In total, 90 percent of...
27/10/2022
It was selected by the European Commission, which co-finances the project, and is based on an unprecedented alliance between anti-disinformation organisations a...
27/10/2022
Through this new collaboration, AFP will support Spanish content on Twitter in L...
25/10/2022
With the development of extended Reality (XR) and Artificial Intelligence (AI) technologies, a unique window of opportunity for the European Creative and Cultur...
12/10/2022
This distinction rewards media that have acted to improve the visibility and representation of women's sport in their coverage and to promote gender equalit...
28/09/2022
With this collaboration, Twitter's Curation team is expanding the scale and ...
22/09/2022
From October 26 to November 5, 2022, Ellia Art Gallery will be exhibiting in the...
22/09/2022
From October 26 to November 5, 2022, Ellia Art Gallery will be exhibiting in the...
20/09/2022
The European Code of Standards for Independent Fact-Checking Organisations , which was published today, has been developed through a project involving fact-che...
19/09/2022
The new vera.ai project (VERification Assisted by Artificial Intelligence), whic...
12/09/2022
Lopez was the author of a report on diversity in the Agency's coverage that she submitted to the global news management in May 2022.
Announcing the creatio...
30/08/2022
Stories have become hugely popular across all social media platforms, from Snapchat to Instagram and featuring on YouTube as shorts. These platforms are today a...
25/08/2022
The 2022 edition of Visa pour lImage will feature 24 exhibitions and six evening screenings as well as debates, conferences and meetings. The work of AFP photog...
06/07/2022
By creating this position in the editor-in-chief's department, the AFP management has implemented one of the main recommendations of a report on diversity a...
22/06/2022
The training was developed by AFP's award-winning digital investigations team, with the support of the Google News Initiative. Every journalist will receive...
08/06/2022
This report covers the opinions and insights of nearly 50 fact-checking and open...
24/05/2022
The winner will soon join the AFP editorial staff on a three-month contract, whi...
20/04/2022
At its meeting on 20 April 2022, AFPs Board of Directors approved the accounts for the 2021 financial year, which confirm the Agencys improved financial situati...
11/04/2022
A policeman moved between the debris, picking up phones and putting them in a box, one of them ringing out incessantly , recounted AFP reporter Herve Bar in his...
17/02/2022
This arrangement is another valuable recognition of the quality work done by AFP journalists around the world said Phil Chetwynd, global news director for AFP....
11/02/2022
New York - February 11, 2022: Getty Images, a preeminent global visual content creator and marketplace, and Agence France-Presse (AFP), a leading global news ag...
07/02/2022
His role will be to promote the global production of sports content associated with major sporting events:
His priority will be to manage the resources neede...
11/01/2022
The site, lakmusz.hu, is the first of its kind in Hungary.
Co-funded by the European Union, the project is expected to last 15 months initially.
Under the dea...
10/01/2022
The Planet hub brings together some 20 text and image journalists specialising in climate change and the environment, energy, industry, transport and agricultur...
10/12/2021
AFP will work with Correctiv (Germany), Demagog (Poland), Pagella Politica (Italy) and EU DisinfoLab (Belgium) and Fundaci n Maldita.es (Spain) in the European ...
08/12/2021
Under the reorganisation, the global news management will now have four deputy directors whose responsibilities will include developing the agency's content...
07/12/2021
The two partners recently signed a multi-year contract, capping a cooperation that has developed in the video domain over the last years.
Under the deal, ARD&#...
18/11/2021
Fabrice Fries, CEO of Agence France-Presse declares: This agreement is a recognition of the value of information. This will contribute to the production of qua...
17/11/2021
Solan Kolli was awarded the prize on Tuesday in London, in the News category for The Cost of War'' a report produced for AFP on the conflict in Tigray...
27/10/2021
As part of a 15-month-long pilot project starting November 1, AFP will cooperate with the award-winning independent news site 444.hu, as well as Media Universal...
08/10/2021
In its award citation, the foundation said that Hood's work stands out for his ability to synthesize complex scientific models and studies and explain them...
07/10/2021
Josh Edelson, an AFP contributor since 2012, is one of two photo category winner...
29/09/2021
Produced under the direction of Marielle Eudes, AFP's photo director, this book is the testimony and photographic memory of a global event captured by the A...
22/09/2021
Based in Tunis, the new Maghreb Hub will provide even more comprehensive, dynamic and original coverage of the region for AFP and its clients.
We believe th...
16/09/2021
Four AFP journalists (Antoine Boyer, Sarah-Lou Lepers in Paris, Jonathan Brown and Andrea Palasciano in Moscow) have immersed themselves in this saga, which say...
26/08/2021
The exhibitions include Angelos Tzortzinis's portfolio of images of the Moria refugee camp on the Greek island of Lesbos and Eduardo Soteras's exclusive...
24/08/2021
The Analogue Years'' live auction, hosted by one of the world's leading news agencies, will take place Sunday, October 3, 2021, under the direction ...
19/07/2021
Julie Leplus, who takes up her role on July 19, has over 15 years' experience in content sales, tech and the mobile industry. Her mission will be to continu...
31/05/2021
AFP extended this month its European fact-checking network into Greece, Cyprus and Finland, consolidating its position as the world's leading agency in digi...
28/05/2021
David Millikin, AFP's Australia, New Zealand and South Pacific bureau chief since 2017, has been appointed as Sales and Marketing Director for North America...
27/05/2021
The hubs - CEDMO in France; DE FACTO in Eastern Europe; and EDMO BELUX in the Benelux - will for the first time bring together fact-checking media, university a...
26/05/2021
Through this platform, which will also be available for mobile, journalists will be able to freely access a wide range of content: press releases, photos, audio...
28/04/2021
Aref Karimi, a photojournalist originally from Herat in west Afghanistan, has be...
27/04/2021
Aref Karimi, a photojournalist originally from Herat in west Afghanistan, has be...
14/04/2021
Despite the pandemic, AFP's commercial revenues rose to 166.4 million euros,...
Despite the pandemic, AFP's commercial revenues rose to 166.4 million euros, an increase at comparable exchange rates of 0.8 million compared to 2019. The increase was driven by the growth of its digital investigation business and its video offering.
