From the financial viewpoint, the result of ordinary operations in 2022 was better than budgeted. The surplus was approximately €1.9 million while the target was €1.6 million. After the pandemic years, external funding grew delightfully as regards business operations, externally funded projects and tuition fee incomes.
The growth in business operations can particularly be seen in education export even if there were challenges and delays in receiving payments. Externally funded RDI projects grew strongly. The proportion of ESF and ERDF projects of all externally funded projects was 52%.
A large investment was renovation of the C-building at main campus. It was started in spring 2022 and will be finished in summer 2023 as planned. Schools’ investments focused on learning environments and purchase of devices and equipment. External project funding was available for equipment purchases in the field of technology.
Investment and financial income weakened strongly compared with the year before and unrealised sales losses were written off worth €1.2 million.
