Financial Statistics

Merja Saarinen.
Financial Manager Merja Saarinen states that TAMK’s profit of 2021 was slightly better than was budgeted.

The coronavirus pandemic still strongly influenced the year 2021. The biggest negative effect was seen in international activities. Paid education and services, projects and international student exchanges still suffered from the pandemic. The international component shortage slowed down investments.

TAMK’s operational profit was €593,235 in 2021, which was slightly better than was budgeted.

Externally funded RDI projects as well as paid education and services fell behind their budget objective. Paid education was implemented for example in Kenya and Latin America. The pandemic also led to introduction of a new funding instrument, REACT-EU funding (Recovery Assistance for Cohesion and the Territories of Europe). We succeeded well in applying for it. The purpose of the new funding instrument is to support regions whose economy and employment suffered highly from the pandemic. The funding creates a base for a green and digital economic recovery. The funding supports SMEs, research and development, digital competence and companies’ and staff’s ability to change. The success rate of REACT-EU-ESF projects was 57% and the success rate of REACT-EU-ERDF projects was 70%.

The Financial, Project and Purchasing Services as well as Travel Services transferred to Tampere University on 1 January 2021.

Despite the pandemic-related component shortage, we made investments worth €2.3 million. Investment funding was used for example for development of learning environments, equipment, machines and modernisation and renovation of buildings.

Unrealised investment profits grew by more than €2.2 million from the year before.


Profit and loss account revenues
Profit and loss account expenses