UEG Annual Report 2020 - 72

UEG Annual Report 2020
Explanations to the Financial
Consolidated Outcome 2020
Consolidated Outcome
In 2020 UEG generated a total revenue of € 5,232,813. Total expenses
including corporate income tax amounted to € 5,435,427.
This resulted in a negative consolidated outcome of € 202,615
after taxes for the fiscal year 2020.
Consolidated Revenue
With 76.6%, UEG's main revenue consists of the virtual congress
registration fees and sponsor income. We are proud to say
that UEG Week Virtual set a benchmark and was successful in
participants numbers as well as delegates feedback and support
of Industry. Nevertheless, congress income was remarkably
reduced due to lower virtual congress fees and missing physical
exhibition sales. The Austrian Non-Profit-Organisation-support
fund of € 800,000 was received as a subsidy for cancellation of
the physical congress in Amsterdam. Other revenue streams
included income from online educational offers, Journal and
society membership fees. Financial income originated from our
asset management in Central European banks following a prudent
investment policy based on ethical standards of UEG.
Consolidated Expenses
(listed according to size)
HR/Payroll
UEG has a strong team of dedicated professionals which represents
34.3% of UEG expenses. The proportional share of costs
rose due to cost reduction in other expense units. We took the
conscious decision to continue supporting our excellent staff
without any reductions, which is needed to continue running our
organisation and its activities at the excellent level we strive for.
Congress
UEG Week Virtual resulted in 27.9% of UEG's expenses. It comprised
diverse event costs, such as for technical and organisational
implementation, setting up of the virtual congress
plattform, recordings, Web & IT, TV Studio, and branding &
marketing. Agency service fees for outsourced activities arose
for congress registration and some technical infrastructure, but
UEG Week is primarily inhouse managed. Due to cancellation of
the physical congress in Amsterstam, UEG had to pay a reduced
cancellation fee for the booked venue and incurred costs for
supplier services.
General Costs
General costs (15.8%) include all UEG organisation-related
services such as financial & tax management, Web & IT, general
marketing & communication, PR & press work, and expenses for
the House of European Gastroenterology (rental fee and annual
running costs). Public and media relations programme is implemented
by the UK based PR agency emotive (formerly known
as SPINK). In 2020 the new UEG Website and the new Corporate
Identity (CI) were finalised. Digital offering of UEG became even
more user-friendly and prepared for the future.
Grants/Prizes/Support
The difficult year forced UEG to implement some reduction
of expenditure for grants and support programmes. But UEG
continued to offer many of our attractive prizes and grants as
well as fellowship programmes, which amounted to 9.3% of total
expenses.
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UEG Annual Report 2020

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