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UEF achieved a good result in 2020 

In 2020, the university achieved a good operational and financial result. The coronavirus pandemic and the emergency conditions had an impact on the university’s activities, but the key operational objectives were achieved well. 

In 2020, the University of Eastern Finland awarded 167 doctoral degrees, 1,739 Master’s degrees and 1,326 Bachelor's degrees. The number of Master’s degrees awarded was an all-time record for the university. In addition, the number of articles published by the university’s researchers in international journals grew from previous years.  

The university’s profit for the financial year amounted to 13.1 million euros, of which investment and financing activities accounted for 10.8 million euros. The university’s operating profit, which includes Government funding for the higher education institutions, external funding and corresponding expenses, amounted to 1.4 million euros. Some of the university’s externally funded projects were delayed and revenue from external funding remained below the normal level. As a result of the coronavirus pandemic, travel expenses, for example, resulted in cost savings. Overall, the operating revenues and expenses were well balanced. 

The university’s realised net revenue from investment and financing activities amounted to 6.6 million euros. Unrealised changes in value of investment activities also affect the university’s result. The share of unrealised net revenue of the university's result amounted to 4.2 million euros. The university is running a fundraising campaign that is eligible for match funding from the Government. In 2020, the campaign attracted 0.3 million euros in donations, and the campaign will continue until June 2022.  

“The university’s operational result is very good and our finances rest on a solid foundation,” Rector Jukka Mönkkönen says. 

The university has concluded a performance agreement with the Ministry of Education and Culture for the years 2021–2024. In 2021, the university's overall funding will increase, which enables additional investments in the university’s activities, such increases in student intake numbers and education in logopaedics.   

The financial statement for 2020 was discussed by the UEF Board on 12 April. The financial statement will be discussed by the University Collegiate Body on 28 May. 
 
For further information, please contact:  

Rector Jukka Mönkkönen, tel. +358 40 728 8057  
Chief Financial Officer Heini Koskenvuori, tel. +358 50 569 7560