Aalto University has set its sights firmly on building a sustainable future
The Aalto University Board approved the Annual Board Report and Financial Statements for 2021 in its meeting on 17 March 2022.
Aalto University’s new strategy entered into force at the start of 2021, and with it, the university is setting its sights firmly on building a sustainable future.
The university operations during 2021 were shaped by the prolonged coronavirus pandemic in many ways. Ensuring the wellbeing of the personnel and students was a key development priority, especially due to the exceptional situation and working and studying on a remote basis.
Despite the pandemic, Aalto University’s academic results developed favourably in 2021. The number of most cited top 10% publications increased to 1 577 (1 512 in 2020). A total of 315 (239) results of artistic activities were recorded. Altogether 1 509 (1 340) students completed a bachelor's degree, 1 831 (1 952) completed a master's degree, and 182 (214) a doctorate.
According to major international rankings, Aalto University is already among the world’s leading higher education institutions in its key research areas. This trend is spearheaded by art and design, in which our university was rated sixth in the world in the QS World University Rankings in 2021. Aalto University reached ninth place in the ranking for universities under the age of 50 (QS World University Rankings). In early 2022, Times Higher Education listed Aalto University as the 40th most international university.
There is strong demand for experts in the fields represented by Aalto University. The number of applicants is on the increase, and the employment rate of its graduates is extremely high. To meet the national need for experts, our university has pledged to increase degree education in its own fields.
The long-term campus development programme progressed according to plan in 2021. The renovation of the old Otaniemi shopping centre was completed in May 2021, and the shopping centre A Blanc now serves as the second service centre of the campus. Construction of Aalto University Works continued in the K-block. It will be gradually built into a workshop complex for the use of university’s various actors and partners. Aalto University aims to make its campus carbon neutral by the year 2030
The university's pro forma operative income totalled EUR 370 (343) million with government funding the main source of income. Grant income was received mainly from the Academy of Finland, the European Union, and Business Finland. Personnel expenses formed 69% (68%) and facility expenses 12% (12%) of the operative expenses. As a result of the pandemic, expenses remained lower than in a year of normal operations. The university’s pro forma operative loss was EUR 7 (15) million.
Profit from endowment activities totalled EUR 215 (41) million. In 2021, the profit from endowment activities mainly consisted of realised profits from sale of investment funds and increased market value of investment funds. The strong development of the financial markets significantly impacted endowment profit.
Aalto University balance sheet totalled EUR 2 044 (1 869) million at the end of the financial year.
Key figures of Aalto University Group
|Profit/loss of the financial year||202||18|
|Change in cash and bank||-26||50|
|Total assets||2 049||1 871|
|Total equity||1 609||1 397|
Marianna Bom, Chief Financial Officer
[email protected], phone +358 50 575 3762