Aalto University was recognised in national and international evaluations in 2023
The Aalto University Board approved the Annual Board Report and Financial Statements for 2023 in its meeting on 19 March 2024.
Aalto University continued to stand out in both national and international university evaluations and comparisons in 2023.
In spring, Aalto University passed the quality system audit conducted by the Finnish Education Evaluation Centre (FINEEC) and was ranked 'excellent' in all evaluation areas. The QS World University Rankings placed Aalto University 109th in the world and first among Finnish universities in its overall comparison. Art and design placed 6th globally. According to Times Higher Education, Aalto University is currently the world’s 53rd most international university and ranks 40th among the young universities of the world (universities under age 50).
The Research Council of Finland published its annual evaluation of scientific research in Finland. According to its findings, Aalto University exceeded the average for Finnish universities in all its key research areas in terms of the impact of publications when measured with the Top 10 index, and in many fields, Aalto University was the best in Finland.
During 2023, a total of 1 614 (1 491 in 2022) students completed a bachelor’s degree, 2 136 (1 925) a master’s degree and 230 (193) a doctoral degree. The high standard of education is reflected in the employability of the university’s graduates. The number of applications and applicants increased by more than 10% compared to the previous year.
A world-class innovation and entrepreneurship ecosystem has grown around Aalto University in recent years. Nearly one hundred new enterprises are set up by Aalto students and personnel each year. During the year, Aalto University processed 137 (116) invention disclosures, filed 77 (53) patent applications (priority patent applications) and carried out 18 (23) transfers of technology or competence to companies. Aalto was third on the Finnish Patent and Registration Office’s list of Finnish companies with the highest number of patent applications.
Aalto University Group’s operating income totalled EUR 403 million (EUR 383 million). Government funding of EUR 239 million (EUR 224 million) was the main source of income. Income from grants totaled EUR 117 million (EUR 112 million) and was received mainly from the Research Council of Finland, European Union and Business Finland. Operating expenses totalled EUR 440 million (EUR 418 million), of which personnel expenses accounted for 65% (65%). Operating loss of the Group was EUR 37 million (loss EUR 35 million). Profit from endowment activities amounted to EUR 102 million (loss EUR 42 million) mainly consisting of the increase in the value of investment funds. The Group’s balance sheet totalled EUR 2 080 million (EUR 2 036 million) at the end of the financial year.
Group financial key figures, € million
Profit and loss
| 2022 | 2023 | |
|---|---|---|
| Turnover | 383 | 403 |
| Expenses | 418 | 440 |
| Operating profit/loss | -35 | -37 |
| Fundraising profit/loss | 10 | 4 |
| Endowment profit/loss | -42 | 102 |
| Financing profit/loss | 9 | -17 |
| Net profit/loss | -67 | 49 |
| Net profit-% | -18% | 12% |
Balance sheet
| 2022 | 2023 | |
|---|---|---|
| Noncurrent assets | 1852 | 1959 |
| Intangible assets | 2 | 2 |
| Tangible assets | 575 | 594 |
| Investments | 1275 | 1362 |
| Current assets | 184 | 121 |
| Total | 2036 | 2080 |
| Equity | 1558 | 1609 |
| Liabilities | 478 | 471 |
| Interest bearing liabilities | 321 | 306 |
| Non-interest bearing liabilities | 157 | 165 |
| Total | 2036 | 2080 |
| Equity ratio | 77% | 77% |
Read more
- Aalto University Annual Board Report and Financial Statements 2023
- Key figures of 2023
- Aalto University endowment provided EUR 37 million in 2023 to education and research
More information
Marianna Bom, Chief Financial Officer
marianna.bom@aalto.fi, phone +358 50 575 3762
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