The finances of Helsinki Metropolia University of Applied Sciences Ltd developed positively in 2011. The company’s financial performance topped that of the previous year and was better than budgeted.
• Turnover and other operating income totalled EUR 118.0 million, up by EUR 5.2 million, or 4.7%, on the previous year. Actual turnover was 2.4% higher than budgeted.
• Operating expenses totalled EUR 112.9 million, up 3.5% on the previous year.
• Personnel expenses amounted to EUR 73.1 million, accounting for 64.7% of total expenses. The total number of full-time personnel at the close of the year was 1,194.
• The financial result was good, as the company generated a profit of EUR 5.2 million. Profit for the financial year represented 4.4% of turnover.
• Liquidity was good and in line with our target. The equity ratio of 70.2% was also good.
• Capital expenditures during the year under review totalled EUR 4.3 million, which was EUR 1.2 million less than budgeted. Depreciation was EUR 1.0 million below the estimated amount.
According to Director of Finance and Administration Jorma Uusitalo, Metropolia’s positive financial statements will enable it to develop its functions in accordance with its selected goals during this unstable economic period and to prepare for the savings targets proposed by the Ministry of Education and Culture for the university of applied sciences sector.
Review of 2011
In recent years, Metropolia has made significant investments in the development of the company’s strategic ability. During the financial year, the Finnish Higher Education Evaluation Council approved Metropolia’s quality assurance system in its audit and stated that Metropolia’s strength is in its clear and widely internalised strategic approach.
In 2011, around 2,300 students graduated with degrees from Metropolia. During the year, Metropolia focused particularly on improving the quality of teaching. We launched the first innovation projects included in curricula, in which students, together with workplaces, acquaint themselves with multidisciplinary innovation activities.
An example of currently running projects is the “Well-Being and Energy Efficiency in Housing” multidisciplinary cooperation project. It aims to find social and technical solutions with which the well-being and functioning of the resident can be enhanced and energy efficiency improved at housing for senior citizens, in particular.
At the end of 2011, we finalised our decision to concentrate Metropolia’s operations at four campuses: Arabianranta and Myllypuro in Helsinki, Leppävaara in Espoo and Myyrmäki in Vantaa.
The university of applied sciences system is undergoing a major reform. The current Government Programme requires universities of applied sciences to increase the efficiency of their operations so that a savings target of EUR 120 million can be achieved by 2015.
Metropolia is also preparing for the planned savings. Helsinki Metropolia University of Applied Sciences Ltd considers it very important that the savings targets are achieved through structural development instead of across-the-board cuts.
For the future development of Metropolia, it is crucial that we succeed in concentrating our operations at four campuses instead of the current twenty. Metropolia’s operations focus on the quality of teaching, research, development and innovation activities and the enhancement of its staff’s competence and well-being.
The 2011 Annual Report will only be published online:
- Henri Kuitunen, Chairman of the Board of Directors of Helsinki Metropolia University of Applied Sciences Ltd, tel. +358 400 501 398, email@example.com
- Riitta Konkola, President and Managing Director, tel. +358 50 548 6069, firstname.lastname@example.org
- Jorma Uusitalo, Director of Finance and Administration, tel. +358 40 336 0175, email@example.com
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