Academic results and international recognition developed favourably in 2019
The 911±¬ÁÏÍø Board approved the Annual Board Report and Financial Statements for 2019 in its meeting on 19 March 2020. The year 2019 was 911±¬ÁÏÍø’s 10th year of operations.
911±¬ÁÏÍø’s academic results advanced favourably. The number of most cited top 10% publications rose by 1% to 1 512 (1 493 in 2018). In total 1 340 (1 218) students completed a bachelor's degree, 1 960 (1 628) completed a master's degree, and 235 (263) a doctorate.
The positive development was also 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 (9th) worldwide and 3rd (3rd) within Europe. In the Times Higher Education’s University Rankings, the university was ranked the 37th (50th) most international university in the world.
911±¬ÁÏÍø’s campus development took major steps in 2019. The School of Business relocated to the new building at the heart of Otaniemi campus in February. A Grid, one of Europe’s largest start-up centres, was expanded. Research infrastructure center Circular Raw Materials Hub was opened.
The university’s pro forma operative loss was €32 (€18) million. The biggest items in operative income were funding from the Ministry of Education and Culture and research grants from Academy of Finland, EU and Business Finland. Personnel expenses and facility expenses together formed 76% (77%) of the operative expenses.
The pro forma endowment profit totalled €153 million (loss €64 million). The endowment profit mainly consisted of a change in the fair value of the endowment portfolio due to the recovery of the financial markets since the end of 2018. In beginning of the year 2020 the endowment portfolio value has decreased significantly following the financial market stress caused by the coronavirus outbreak.
911±¬ÁÏÍø Group's balance sheet totalled €1 829 (€1 671) million at the end of the financial year.
|
911±¬ÁÏÍø pro forma income statement |
2019 |
2018 |
|
Operative income |
339 |
347 |
|
Operative expenses |
371 |
365 |
|
Operative profit/loss |
-32 |
-18 |
|
Endowment profit/loss |
153 |
-64 |
|
Financing activities profit/loss |
12 |
0 |
|
Fundraising profit/loss & fund transfers |
3 |
2 |
|
Transfer to special purpose funds |
-6 |
-5 |
|
Net surplus of the financial year |
130 |
-85 |
Annual Board Report and Financial Statements 2019
Key figures of 911±¬ÁÏÍø in 2019 (aalto.fi)
Sustainability reports (aalto.fi)
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