Income Statement 2021
| 1.1.-31.12.2021 | 1.1.-31.12.2020 | |
|---|---|---|
| REVENUES | 110,661,257.67 | 103,099,529.29 |
| Personnel expenses | -68,834,560.79 | -64,012,080.51 |
| Depreciation and impairment | -8,230,002.50 | -7,692,787.13 |
| Other operating expenses | -26,743,865.42 | -26,440,759.61 |
| EXPENSES | -103,808,428.71 | -98,145,627.25 |
| OPERATING PROFIT | 6,852,828.96 | 4,953,902.04 |
| Financial income and expenses | 198,138.64 | 193,044.03 |
| PROFIT BEFORE APPROPRIATIONS AND TAXES | 7,131,646.82 | 5,146,946.07 |
| Appropriations | 372,236.43 | 250,927.13 |
| Taxes on income | -283,956.38 | -274,090.97 |
| PROFIT FOR THE FINANCIAL YEAR | 7,219,926.87 | 5,123,782.23 |
Balance Sheet 2021
| 31.12.2021 | 31.12.2020 | |
|---|---|---|
| ASSETS | ||
| Non-current assets | ||
| Intangible assets | ||
| Intangible rights | 164,214.33 | 183,411.38 |
| Other non-current expenditure | 12,481,615.98 | 12,288,753.41 |
| Total intangible assets | 12,645,830.31 | 12,472,164.79 |
| Tangible assets | ||
| Buildings and structures | 676,978.85 | 702,546.18 |
| Machinery and equipment | 12,553,383.27 | 13,756,049.49 |
| Other tangible assets | 0.00 | 0.00 |
| Advance payments and work in progress | 52,500.00 | 380,804.21 |
| Total tangible assets | 13,282,862.12 | 14,839,399.88 |
| Investments | ||
| Other investments | 50,002.00 | 50,002.00 |
| Associated company investments | 500,000.00 | 500,000.00 |
| Other receivables | 17,652,967.67 | 16,447,730.60 |
| Total investments | 18,202,969.67 | 16,997,732.60 |
| TOTAL NON-CURRENT ASSETS | 44,131,662.10 | 44,309,297.27 |
| Current assets | ||
| Non-current receivables | ||
| Other receivables | 1,171,629.86 | 152,401.07 |
| Prepayments and accrued income | 240.00 | 240.00 |
| Total non-current receivables | 1,171,869.86 | 152,641.07 |
| Current receivables | ||
| Trade receivables | 1,194,807.92 | 845,986.20 |
| Other receivables | 2,150,633.85 | 2,656,176.36 |
| Prepayments and accrued income | 1,661,704.22 | 1,884,309.24 |
| Financial securities | 29,022,731.99 | 23,397,424.39 |
| Total current receivables | 34,029,877.98 | 28,783,896.19 |
| Cash and cash equivalents | 6,887,967.34 | 3,313,256.32 |
| TOTAL CURRENT ASSETS | 42,089,715.18 | 32,249,793.58 |
| TOTAL ASSETS | 86,221,377.28 | 76,559,090.85 |
| EQUITY AND LIABILITIES | ||
| Equity | ||
| Share capital | 4,500,000.00 | 4,500,000.00 |
| Other reserves | ||
| Reserve for invested unrestricted equity | 6,480,117.92 | 6,480,117.92 |
| Reserve for donations received | 1,218,180.28 | 1,585,680.62 |
| Other reserves | 107,770.39 | 112,506.48 |
| Profit/loss from previous years brought forward | 35,778,850.93 | 30,655,068.70 |
| Profit/loss for the period | 7,219,926.87 | 5,123,782.23 |
| TOTAL EQUITY | 55,304,846.39 | 48,457,155.95 |
| Mandatory provisions | 2,198,023.23 | 1,772,004.00 |
| Non-current liabilities | 0.00 | 0.00 |
| Current liabilities | ||
| Prepayments received | 11,760,742.56 | 10,561,766.34 |
| Trade payables | 5,748,150.22 | 4,370,942.63 |
| Other liabilities | 5,367,636.31 | 4,362,666.87 |
| Accrued liabilities | 5,841,978.57 | 7,034,555.06 |
| Total current liabilities | 28,718,507.66 | 26,329,930.90 |
| TOTAL LIABILITIES | 28,718,507.66 | 26,329,930.90 |
| TOTAL EQUITY AND LIABILITIE | 86,221,377.28 | 76,559,090.85 |
Review by the Chairman of the Board
2021 can only described in our society as a coronavirus year. The pandemic had a constant effect on our society, sometimes more, sometimes less. As I am writing this, it seems that it is easing off despite many cases still being seen. Let's hope this positive development will continue.
Covid manifested itself in 2021 in a number of ways in our operations. We were forced to modify our operations flexibly with each change in the infection rate and guidelines provided by the authorities. This was seen particularly in the high volume of remote education.
Just as the pandemic was receding, a significant change occurred in February 2022 in the global geopolitical situation. At this point it is impossible to estimate the duration of the change or other repercussions it may have, but it is obvious that it will have widespread effects on our society. The repercussions are also visible at Metropolia. Our task is to do our best to ease the situation.
Despite our challenging operating environment, Metropolia University of Applied Sciences Ltd achieved well the targets that were set to it for 2021. Our finances improved and we proceeded well in the development of our operations in accordance with our strategy. These provide us with good tools to succeed also in the future.
I wish to extend my thanks to our staff and students for their excellent contribution. I would also like to extend my gratitude to all of our stakeholders for their good cooperation and trust in us in 2021.
Chairman of the Board
Henri Kuitunen