In the 2021/22 academic year, the University's economicstatus was balanced for the second consecutive year after several years of volatility due to the health status and, previously, due to the project opening of the campus in Madrid, which is already at full capacity in both the assistance activity and professor. Revenue growth was sustained in all activities, similar to that of expenses. 

The operatingresult was positive: 24.4 million euros compared to 18 million euros the previous year. The improvement was mainly due to the increase in activity professor and research. The financialresult was negative, with a loss of 2.3 million euros compared to a surplus of 5.5 million euros in the previous year.

RESULT OF OPERATION

Difference between revenues and operating expenses derived from the activities of teaching, research or attendance developed at the University.

+24.4 million compared to 18 million euros in the previous year.

Operating income reached 622.05 million euros, 64 million more than in the 2020/21 academic year. This 12% increase was thanks to the growth of all university activities (professor, assistance and research). IESE's activity recovered, with 22.9 million euros in revenue more than in the previous academic year (up 24.6%), following the return to normal activity after several years with limitations, as a result of the health status .

Profit and loss account

The income statement sample the result operating, financial and operating income and expenses, based on revenues and expenses of the University. 

Balance of status

The balance sheet of status indicates the financial status of the University.

management financial and endowment

 WHAT IS IT?

Bursar's Office ordinary

It organizes short term operating receipts and payments deadline. It is composed of the funds necessary for the ordinary activity of the current fiscal year. It is generated with the resources obtained from the activity: tuition fees, patient care, contracts and subsidies for research, etc. It is used to cover the ordinary expense : payroll, suppliers, general expenses, equipment, etc. The available balances of Bursar's Office are invested in fixed income products with minimum risk (bank deposits and monetary investment funds) following a very conservative investment policy.

 WHAT IS IT?

Savings Fund (FAHUN)

This is a fund for investing surpluses from Bursar's Office. It was set up to manage more efficiently the Bursar's Office, which can be considered as the "university's savings" and is earmarked for projects whose payments are not expected in the current fiscal year but in the following years. The fund's investment policy is conservative, although to a lesser extent than Bursar's Office ordinary. It invests primarily in fixed income products, with a small portion in equities (maximum 15%) and alternative products (maximum 10%). It has a currency limit of 10% for exhibition and the maximum volatility allowed is 3%.

The management is carried out with a time horizon of 3 to 5 years and seeks to preserve capital and obtain a return at least one point above the Bursar's Office Ordinary. The most important reference letter for the profitability analysis are the annualized figures for average periods such as 3 and 5 years.

 WHAT IS IT?

Endowment

Long-term financial portfolio deadline, constituted mainly thanks to donations, which allocates the returns obtained to support the purposes for which it was endowed (scholarship programs, research, Chairs, etc.). There are two internal endowments: Academic Centers/Clinical and IESE. In addition, several collaborating foundations have endowments that allocate funds to various University scholarship programs and research through annual contributions.

Investments and infrastructures

Although in the 2021/22 academic year academic activity was recovered (professor, research and assistance), projects were undertaken that were essential for the development of the activity or that circumstantially became viable.