Financial Statements 2014

Income Statement

1.1.-31.12.2014 1.1.-31.12.2013
TURNOVER 109 225 285.50 116 576 043.75
Other operating income 521 949.89 534 295.11
Materials and services -5 679 494.20 -4 493 012.10
Personnel expenses -71 697 889.03 -79 179 045.99
Depreciation and impairment -4 210 553.23 -4 281 181.39
Other operating expenses -25 631 925.58 -29 007 919.38
OPERATING RESULT FOR THE PERIOD 2 527 373.35 149 180.00
Financial income and expenses 122 107.74 114 271.66
RESULT FOR THE PERIOD 2 649 481.09 263 451.66
 

Balance Sheet

31.12.2014 31.12.2013
ASSETS
Non-current assets
Intangible assets
Intangible rights 238 586.95 13 726.24
Other non-current expenditure 2 442 657.75 2 516 465.87
Total intangible assets 2 681 244.70 2 530 192.11
Tangible assets
Machinery and equipment 7 455 193.38 6 834 705.81
Other tangible assets 539.10 550.51
Advance payments and work in progress 0.00
Total tangible assets 7 455 732.48 6 835 256.32
Investments
Equities 115 886.58 115 886.58
TOTAL NON-CURRENT ASSETS 10 252 863.76 9 481 335.01
Current assets
Non-current receivables
Other receivables 1 515 420.40 38 452.10
Prepayments and accrued income 580.00 620.00
Total non-current receivables 1 516 000.40 39 072.10
Current receivables
Trade receivables 856 937.68 956 726.89
Other receivables 275 080.08 244 775.02
Prepayments and accrued income 2 015 489.42 2 477 308.01
Financial securities 25 256 579.41 25 138 336.11
Total current receivables 28 404 086.59 28 817 146.03
Cash and cash equivalents 5 784 953.29 4 182 452.58
TOTAL CURRENT ASSETS 35 705 040.28 33 038 670.71
TOTAL ASSETS 45 957 904.04 42 520 005.72
EQUITY AND LIABILITIES
Equity
Share capital 4 500 000.00 4 500 000.00
Profit/loss from previous years brought forward 26 635 878.89 26 372 427.23
Profit/loss for the period 2 649 481.09 263 451.66
Total equity 33 785 359.98 31 135 878.89
Non-current liabilities 9 494.31 9 574.31
Current liabilities
Prepayments received 1 200 060.87 1 103 948.22
Trade payables 3 111 782.24 2 288 285.18
Other liabilities 1 962 407.26 2 122 358.26
Accrued liabilities 5 888 799.38 5 859 960.86
Total current liabilities 12 163 049.75 11 374 552.52
TOTAL LIABILITIES 12 172 544.06 11 384 126.83
TOTAL EQUITY AND LIABILITIES 45 957 904.04 42 520 005.72
 
 

Review of the Chairman of the Board

A significant milestone for the Finnish educational system, and in particular the university of applied sciences system, was reached in 2015, when the new law governing and regulating UASs was finalised.

UASs had to start making some choices in earnest in order to be able to continue to operate in tighter financial conditions.

For Metropolia University of Applied Sciences Ltd, the aforementioned circumstances have required large-scale measures: we have revised our organisational structure and cut our operating expenses. Both these actions have been absolutely necessary for us to maintain our ability to meet the challenges of the future, which include intensified competition and a growing need to boost the efficiency of our operations as we compete for funding. Due to these reasons, 2014 was not an easy year for Metropolia. Matters fundamentally affecting the structures of large organisations are never easy to deal with. We are currently going through studies relating to the organisation as we deliberate on the future development of our operations.

Metropolia's financial result for 2014, however, was very good. We have always held the opinion that a healthy financial result and balance sheet give us the best possible means for surviving future challenges. A solid financial position also enables us to invest in various development projects whenever necessary. In addition, the development of Metropolia’s operating premises and the planning of the construction projects for the Myllypuro and Myyrmäki campuses proceeded according to their timetable.

I would like to extend my warmest thanks to the staff, the students and all of our partners for their efforts in 2014.


Henri Kuitunen
Chairman of the Board