| 1.1.-31.12.2016 | 1.1.-31.12.2015 | |
|---|---|---|
| TURNOVER | 97 298 202,40 | 100 343 868,69 |
| Other operating income | 549 565,57 | 364 525,43 |
| Materials and services | -3 613 740,17 | -3 408 675,21 |
| Personnel expenses | -66 974 761,79 | -69 551 181,48 |
| Depreciation and impairment | -4 289 160,64 | -4 079 374,23 |
| Other operating expenses | -23 607 640,49 | -24 948 835,41 |
| OPERATING RESULT FOR THE PERIOD | -637 535,12 | -1 279 672,21 |
| Financial income and expenses | 969 666,03 | 1 698 291,24 |
| RESULT FOR THE PERIOD | 332 130,91 | 418 619,03 |
| 31.12.2016 | 31.12.2015 | |
|---|---|---|
| ASSETS | ||
| Non-current assets | ||
| Intangible assets | ||
| Intangible rights | 529 734,15 | 662 130,73 |
| Other non-current expenditure | 3 513 981,75 | 2 724 890,42 |
| Total intangible assets | 4 043 715,90 | 3 387 021,15 |
| Tangible assets | ||
| Machinery and equipment | 9 244 849,19 | 8 750 189,77 |
| Other tangible assets | 516,29 | 527,70 |
| Advance payments and work in progress | 107 489,26 | 101 780,00 |
| Total tangible assets | 9 352 854,74 | 8 852 497,47 |
| Investments | ||
| Equities | 110 001,00 | 113 363,76 |
| TOTAL NON-CURRENT ASSETS | 13 506 571,64 | 12 352 882,38 |
| Current assets | ||
| Non-current receivables | ||
| Other receivables | 38 453,16 | 5 313,48 |
| Prepayments and accrued income | 800,00 | 580,00 |
| Total non-current receivables | 39 253,16 | 5 893,48 |
| Current receivables | ||
| Trade receivables | 1 924 203,71 | 1 250 408,03 |
| Other receivables | 994 451,89 | 167 207,11 |
| Prepayments and accrued income | 1 409 538,62 | 1 335 132,64 |
| Financial securities | 27 400 891,68 | 30 465 342,79 |
| Total current receivables | 31 729 085,90 | 33 218 090,57 |
| Cash and cash equivalents | 5 597 829,78 | 5 933 783,48 |
| TOTAL CURRENT ASSETS | 37 366 168,84 | 39 157 767,53 |
| TOTAL ASSETS | 50 872 740,48 | 51 510 649,91 |
| EQUITY AND LIABILITIES | ||
| Equity | ||
| Share capital | 4 500 000,00 | 4 500 000,00 |
| Profit/loss from previous years brought forward | 29 603 979,01 | 29 285 359,98 |
| Reserve for invested unrestricted equity | 4 482 000,00 | 4 482 000,00 |
| Other reserves | 100 000,00 | 0 |
| Profit/loss for the period | 332 130,91 | 418 619,03 |
| Total equity | 39 018 109,92 | 38 685 979,01 |
| Non-current liabilities | 1 168 461,24 | 9 494,31 |
| Current liabilities | ||
| Prepayments received | 1 699 056,91 | 511 394,11 |
| Trade payables | 2 506 542,95 | 4 638 924,85 |
| Other liabilities | 2 170 592,67 | 2 165 864,31 |
| Accrued liabilities | 4 309 976,79 | 5 498 993,32 |
| Total current liabilities | 10 686 169,32 | 12 815 176,59 |
| TOTAL LIABILITIES | 11 854 630,56 | 12 824 670,90 |
| TOTAL EQUITY AND LIABILITIES | 50 872 740,48 | 51 510 649,91 |
Review by the Chairman of the Board
The year 2016 was a very busy and important one in the history of Metropolia University of Applied Sciences Ltd. In addition to carrying out our mission, last year we implemented many important things on which we can build our future.
The laying of the Myllypuro campus's foundation stone last autumn was both physical and psychological proof of the implementation of a forward-looking strategy that will generate a lot of good for us all in the future. Operations in Myllypuro will be launched in 2018.
Another very important and promising project we launched last autumn was the founding of an alliance with Haaga-Helia University of Applied Sciences and Laurea University of Applied Sciences. This cooperation will provide both students and the labour market with a more flexible educational offering than before and numerous other benefits, as three of our country's leading UASs intensify their cooperation to serve everyone's interests. We will begin to reap the rewards of this project as early as this year.
The quality of our operations and its improvement are one of our key focuses here at Metropolia. To ensure we remain competitive, we participated in an audit of our quality system conducted by the Finnish Education Evaluation Centre last November. As a result of the audit, we received a quality label of which we are justifiably proud and that gives us faith that we are on the right track.
The Finnish UAS system and its development are facing great challenges as government funding is being cut. In accordance with our strategy, Metropolia successfully managed to adapt to the present conditions in good cooperation with its staff, and to achieve a positive result. A healthy financial standing will enable us to continue to succeed and develop our operations in the future.
On behalf of the Board of Directors, I wish to extend my warmest gratitude to the students, staff, shareholders and all partners for 2016 – it was a good year for us.
Henri Kuitunen
Chairman of the Board