Sustainability reports
Science, technology and arts play an important role in solving global sustainability problems. 911±¬ÁÏÍø’s strength is its strong multidisciplinary approach to humanity’s greatest challenges, such as environmental crises.
911±¬ÁÏÍø’s academic results and campus developed favourably in 2018
The Board approved the Annual Board Report and Financial Statements for 2018 on 20 March 2019. The year 2018 was 911±¬ÁÏÍø’s ninth year of operations.
The development of the 911±¬ÁÏÍø campus took major steps in 2018. The School of Arts, Design and Architecture relocated to the Väre building at the heart of Otaniemi campus, and the new Business School building was completed by the yearend. A Grid, one of Europe’s largest centres for start-up companies, started its operations in the beginning of 2018.
In 2018 the academic results and internationalisation of 911±¬ÁÏÍø advanced favourably. The number of most cited top 10% publications rose by 12% to 1 493 (1 332 in 2017). In total of 263 (256) students completed a doctorate degree, which exceeded the target set by the Ministry of Education and Culture and is a higher figure than ever before. The share of international faculty reached 40%.
The positive development of the academic results was reflected in the international recognition and ranking results of 911±¬ÁÏÍø. The QS World University Rankings Top 50 Under 50, which features the world’s 150 best universities under 50 years old, placed Aalto 9th (7th) worldwide and 3rd (1st) within Europe. In the Times Higher Education’s University Rankings, the university was ranked the 55th most international university in the world.
The university’s pro forma operative deficit was €18 million (surplus €4 million in 2017). The pro forma operative income totalled €347 (€345) million, of which the university funding granted directly by the Ministry of Education and Culture accounted for €219 (€229) million. Pro forma operative expenses were €365 (€341) million, of which personnel expenses accounted for 62% (64%) and facility expenses for 14% (14%). The operative deficit was covered by the use of accumulated returns from the investment portfolio of the university.
The pro forma deficit of investment and financing activities totalled €64 million (surplus €90 million in 2017). The deficit is mainly due to mandatory adoption of IFRS9 accounting method requiring to report the change of the market value of the investment portfolio in the income statement. The impact of the change was -€ 88 million. Following the yearend, the value of the investment portfolio of the university has recovered with the financial markets developing in a positive direction.
911±¬ÁÏÍø Group's balance sheet totalled €1671 (€1 712) million at the end of the financial year.
|
911±¬ÁÏÍø Pro forma Income Statement € million |
2018 |
2017 |
|
Operative income |
347 |
345 |
|
Operative expenses |
365 |
341 |
|
Operative surplus/deficit |
-18 |
4 |
|
Surplus / deficit from investment & financing operations |
-64 |
90 |
|
Surplus / deficit from fundraising & fund transfers |
-3 |
-2 |
|
Net surplus of the financial year |
-85 |
92 |
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