Financial Statements 2015

Income Statement

1.1.-31.12.2015 1.1.-31.12.2014
TURNOVER 100 343 868.69 109 225 285.50
Other operating income 364 525.43 521 949.89
Materials and services -3 408 675.21 -5 679 494.20
Personnel expenses -69 551 181.48 -71 697 889.03
Depreciation and impairment -4 079 374.23 -4 210 553.23
Other operating expenses -24 948 835.41 -25 631 925.58
OPERATING RESULT FOR THE PERIOD -1 279 672.21 2 527 373.35
Financial income and expenses 1 698 291.24 122 107.74
RESULT FOR THE PERIOD 418 619.03 2 649 481.09
 

Balance Sheet

31.12.2015 31.12.2014
ASSETS
Non-current assets
Intangible assets
Intangible rights 662 130.73 238 586.95
Other non-current expenditure 2 724 890.42 2 442 657.75
Total intangible assets 3 387 021.15 2 681 244.70
Tangible assets
Machinery and equipment 8 750 189.77 7 455 193.38
Other tangible assets 527.70 539.10
Advance payments and work in progress 101 780.00
Total tangible assets 8 852 497.47 7 455 732.48
Investments
Equities 113 363.76 115 886.58
TOTAL NON-CURRENT ASSETS 12 352 882.38 10 252 863.76
Current assets
Non-current receivables
Other receivables 5 313.48 1 515 420.40
Prepayments and accrued income 580.00 580.00
Total non-current receivables 5 893.48 1 516 000.40
Current receivables
Trade receivables 1 250 408.03 856 937.68
Other receivables 167 207.11 275 080.08
Prepayments and accrued income 1 335 132.64 2 015 489.42
Financial securities 30 465 342.79 25 256 579.41
Total current receivables 33 218 090.57 28 404 086.59
Cash and cash equivalents 5 933 783.48 5 784 953.29
TOTAL CURRENT ASSETS 39 157 767.53 35 705 040.28
TOTAL ASSETS 51 510 649.91 45 957 904.04
EQUITY AND LIABILITIES
Equity
Share capital 4 500 000.00 4 500 000.00
Profit/loss from previous years brought forward 29 285 359.98 26 635 878.89
Profit/loss for the period 418 619.03 2 649 481.09
Total equity 38 685 979.01 33 785 359.98
Non-current liabilities 9 494.31 9 494.31
Current liabilities
Prepayments received 511 394.11 1 200 060.87
Trade payables 4 638 924.85 3 111 782.24
Other liabilities 2 165 864.31 1 962 407.26
Accrued liabilities 5 498 993.32 5 888 799.38
Total current liabilities 12 815 176.59 12 163 049.75
TOTAL LIABILITIES 12 824 670.90 12 172 544.06
TOTAL EQUITY AND LIABILITIES 51 510 649.91 45 957 904.04

Review by the Chairman of the Board

2015 was a busy year for Metropolia University of Applied Sciences Ltd. Our entire system of universities of applied sciences had to reduce expenses as state funding was cut. Acquisition of external funding in the form of RDI projects has also proved more difficult than
expected, and targets were not achieved.

The above facts resulted in Metropolia's turnover decreasing by more than 8 per cent. Offsetting such a decline in turnover means that operations must be made more efficient and savings must be effected, so that the company's results can remain in the black, which we consider of utmost
importance when faced with various future challenges.

The above savings were carried out in good spirit with the personnel, and we sat down together to find workable solutions – with no lay-offs – that enable us to develop our operations. The savings and more efficient operations were reflected in the company's positive results, giving us reason for satisfaction, although most of the decisions will not be realised until later.

The company's organisation has also been streamlined and simplified, with the objective of creating an efficient organisation that implements our strategy for the future. As I am writing this, construction of the Myllypuro campus has already begun. The campus will play an important
role as we move towards our new future.

On behalf of the Board of Directors, I wish to extend the warmest gratitude to the students, staff, shareholders, partners and all stakeholders for 2015 - a good year for us.

 

Henri Kuitunen
Chairman of the Board

Annual Reports