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Income Statement 2020

1.1.-31.12.20201.1.-31.12.2019
REVENUES103,099,529.2998,285,460.79
Personnel expenses-64,012,080.51-61,186,687.91
Depreciation and impairment-7,692,787.13-6,990,318.08
Other operating expenses-26,440,759.61-29,196,280.97
EXPENSES-98,145,627.25-97,373,286.96
OPERATING PROFIT4,953,902.04912,173.83
Financial income and expenses193,044.03685,046.96
PROFIT BEFORE APPROPRIATIONS AND TAXES5,146,946.071,597,220.79
Appropriations250,927.13110,024.94
Taxes on income-274,090.97
PROFIT FOR THE FINANCIAL YEAR5,123,782.231,707,245.73

Balance Sheet 2020

31.12.202031.12.2019
ASSETS
Non-current assets
Intangible assets
Intangible rights183,411.38190,900.13
Other non-current expenditure12,288,753.418,775,088.97
Total intangible assets12,472,164.798,965,989.10
Tangible assets
Buildings and structures702,546.18798,939.98
Machinery and equipment13,756,049.4911,168,963.87
Other tangible assets0.000.00
Advance payments and work in progress380,804.212,572,431.15
Total tangible assets14,839,399.8814,540,335.00
Investments
Other investments50,002.0050,002.00
Associated company investments500,000.00500,000.00
Other receivables16,447,730.6015,941,570.18
Total investments16,997,732.6016,491,572.18
TOTAL NON-CURRENT ASSETS44,309,297.2739,997,896.28
Current assets
Non-current receivables
Other receivables152,401.0759,725.90
Prepayments and accrued income240.00340.00
Total non-current receivables152,641.0760,065.90
Current receivables
Trade receivables845,986.201,424,282.51
Other receivables2,656,176.362,303,795.88
Prepayments and accrued income1,884,309.244,235,750.64
Financial securities23,397,424.3917,109,509.95
Total current receivables28,783,896.1925,073,338.98
Cash and cash equivalents3,313,256.323,206,544.18
TOTAL CURRENT ASSETS32,249,793.5828,339,949.06
TOTAL ASSETS76,559,090.8568,337,845.34
EQUITY AND LIABILITIES
Equity
Share capital4,500,000.004,500,000.00
Other reserves
Reserve for invested unrestricted equity6,480,117.926,480,117.92
Reserve for donations received1,585,680.621,832,942.73
Other reserves112,506.48116,171.50
Profit/loss from previous years brought forward30,655,068.7028,947,822.97
Profit/loss for the period5,123,782.231,707,245.73
TOTAL EQUITY48,457,155.9543,584,300.85
Mandatory provisions1,772,004.002,160,000.00
Non-current liabilities0.00527,528.93
Current liabilities
Prepayments received10,561,766.347,164,967.89
Trade payables4,370,942.635,675,418.98
Other liabilities4,362,666.873,704,159.29
Accrued liabilities7,034,555.065,521,469.40
Total current liabilities26,329,930.9022,066,015.56
TOTAL LIABILITIES26,329,930.9022,593,544.49
TOTAL EQUITY AND LIABILITIE76,559,090.8568,337,845.34

Review by the Chairman of the Board

2020 was a particularly exceptional year. The global coronavirus pandemic that started early in the year left a stamp on pretty much all human activity, as Finland entered crisis and exceptional conditions in the spring.

We at Metropolia were also naturally quick to adapt our operations to adjust to the prevailing conditions. The greatest change was to switch into remote education, but practically all sectors of our operations flexibly adopted new modes of operating to ensure occupational health and safety and the quality of our work.

I am pleased to say that despite the very difficult operating environment, Metropolia did very well in 2020. We were able ensure a good level of health security while succeeding in our educational goal and maintaining a healthy financial performance and situation. Success in the above has required a lot of uncompromising work, seamless cooperation and quick reacting.

We have not yet beaten the covid pandemic, but as I am writing this, we a heading in a positive direction. But we have to remain vigilant, keep a close eye to the situation and be ready to react quickly if necessary.

I want to express my warmest gratitude to all our stakeholders, cooperation partners, students and staff for all your fine work in 2020.

Chairman of the Board

Henri Kuitunen