As a consulting company, the Energynautics Conferences complement our diverse portfolio, yet are not the foundation of our business. It is our intention to plan the Conferences in a way to make them affordable for our participants and cost-covering for Energynautics. We need the Conferences to pay for themselves, but we do not plan for a large profit margin. In the past, we have had an equal amount of Events that has left us with a deficit as ones that have created a profit.
In case of a profitable Conference year, we
a) generate reserves for a deficient Conference year
b) subsidize the prices for the next year as we are striving every year to keep the Conference prices at an affordable level
Organizing conferences with up to 500 participants comes with a considerable entrepreneurial risk. There are thousands of working hours involved in planning a Conference, e.g. the Grid Integration Week featuring the Wind & Solar Integration Workshop, the Hydrogen Power System Integration Workshop and the E-Mobility Power Systems Integration Symposium generates a workload of 3.000+ hours a year for the Workshop Team.
Furthermore, many of the necessary bookings for the Conferences require either a down payment or complete advance payments. These costs need to be financed in advance by the company, which poses another entrepreneurial risk.
Last but not least, Energynautics has to register with the host country’s tax authorities for each Event. That means applying for a tax ID, researching and following the country’s tax requirement and submitting tax declarations. As tax standards differ from country to country even within the European Union, this not only means more workload but also the risk of getting it wrong once in a while.