Metropolia's financial statements 2023: a good year financially and operationally

4.4.2024 - 17:00

At its meeting on 4 April 2024, Metropolia’s Board of Directors approved the financial statements of Metropolia and discussed the annual report for 2023.

2023 was a good year for Metropolia both operationally and financially.

Financial statements 2023

  • Turnover totalled EUR 121,8 million, up by 9,6 % on the year before.
  • Turnover from business activities was EUR 6,1 million, up by 8,4% on the year before.
  • Operating expenses amounted to EUR 120,5 million, an increase of 10,5% on the previous year.
  • Personnel expenses totalled EUR 76,6 million, representing 62.9% of turnover.
  • Depreciation and amortisation amounted to EUR 7.3 million.
  • The adjust result for the financial year was a profit of EUR 4,2 million, an increase of EUR 4 million from the previous year. The result for the financial period improved significantly compared to the previous year due to investment activities. The adjusted result accounts for the front-weighted income paid in 2022 by the Ministry of Education and Culture.

Overall, Metropolia’s financial situation was good at the end of 2023. Solvency remained good and the equity ratio was 74 % (74,4% in the previous year).

See Metropolia's financial statements.

Further information

Simo Mustila
Deputy CEO