EduCluster Finland exports educational excellence.

The result of operations improves

FinanceThe financial result of the University improved from the previous year. The large surplus of the financial year, 9.7 million euro, is explained by profits of investments but there was also improvement in the result of normal activities. The University succeeded well in the acquisition of competitive funding and the Academy of Finland’s first funding round to strengthen universities’ research profiles.

The total revenue of the University was 210 million euro, including funding from the Ministry of Education and Culture and supplementary funding. Total costs were 209 million euro. The surplus of normal activities was around one million euro.

The proportion of supplementary funding decreased to 31% of total fundingAlmost 70% of supplementary funding is domestic public funding.

The University predicted financial development and adjusted its expenses to match the revenue development. The University decreased its staff costs by 1.9% and rental costs by 0.6%. The solvency ratio and liquidity improved. The profitability of business operations improved even though the result still was slightly negative.

The result of EduCluster Finland Ltd was good. The company’s net sales were 40% higher and the result 30% higher than in the previous year. The company’s current volume of orders is more than EUR 18 million. Unifund Jyväskylä Ltd, a financing company established by the University, started its operation.Supplementary funding

The most important financial yield is the dividend yield of University Properties of Finland Ltd. The real estate company paid 12.3 million euro dividend to its owners, the University’s share being 1.06 million euro. The value of the University’s investments increased 6.9%. At the end of the year, the value of long-term investments was EUR 88.7 million.