Finance

Parent company finances

Haaga-Helia University of Applied Sciences Ltd.’s earnings in 2018 were EUR 63.3 million (in 2017: 61.7 and in 2016: 57.9), in which basic funding accounted for EUR 54.5 (52.7; 50.6) million, or 86 per cent of the total earnings.

Total costs were EUR 61.7 million (60.7; 60.0). Direct personnel costs were EUR 39.7 (39.9; 40.2) million, or 64 per cent of the total costs. Haaga-Helia operates on leased premises, with the exception of Porvoo. Rental costs and maintenance charges amounted to EUR 9.6 million (8.7; 8.9), or 16 per cent of the total costs. The maintenance charges include an additional charge for capital costs of EUR 1.0 million which was used to repay the loan of Kiinteistö Oy Porvoon Campus ahead of the repayment schedule.

The total earnings from investment and funding activities were EUR −0.02 million (0.1; 0.3). The market value of financial securities was EUR 3.2 million higher than the book value.

The result for the financial year was EUR 1.5 million (1.1; −1.9), which a clear improvement on what was budgeted (EUR 0.3 million). The balance sheet total was EUR 50.3 million (46.3; 43.0).

The company’s operating profit percentage was 2.5 (1.5; −3.6), return on equity was 4.1 (3.0; −5.1) per cent, return on capital employed 5.0 (3.3; −5.1) per cent, equity ratio 90.1 (89.8; 90.4) per cent and quick ratio 9.5 (9.0; 8.8).

Group finances

The Group includes Haaga-Helia University of Applied Sciences Ltd., Kiinteistö Oy Porvoon Campus, Haaga-Helia Global Education Services Ltd., and Haaga-Helia Baltic Ltd. The EduExcellence Ltd. associated company was

established in 2017.

The Group’s result for the financial year was EUR 1.6 million (1.0; −1.9). The balance sheet total was EUR 59.1 million (56.3; 53.4).