Finances

CSC’s mission is to provide non-profit services to its shareholders. Rather than operating on market terms, CSC provides services in the business areas and to the organisations specified by our shareholders, as stated in our Articles of Association. At CSC, financial responsibility means transparency, open financial management, and the provision of high-quality yet cost-effective services.

Financial objectives and their attainment

The financial goal for 2021 was to maintain and expand the funding base as well as to ensure good management and transparency of the cost structure. This represented an effort to respond to cyclical fluctuations in the environment.

CSC's tax year was financially successful. The company's turnover and R&D funding developed as predicted. While the exceptional situation continued, the financial targets set for the tax year were achieved with flying colours, and the company continued to enjoy a stable financial situation during the tax year. Growth was underpinned by new customer relationships and expanding project activities. The company's cost structure remained well under control and the expected result for the financial year was reached.

The Covid-19 pandemic created challenges for the company, which the company was able to tackle thanks to experiences accumulated in the year before and by anticipating the measures the situation required. CSC was able to continue its operations cost-effectively and transparently.

Key indicators for CSC's financial performance and financial activities are presented in greater detail in the Report of the Board of Directors, Financial Statements and Auditor's Report (link to pdf).

Financial key figures

 In 2021 company´s turnover was EUR 56.4 million.

Financial key figures 2021  
Financial key figures 2021
Operating profit 2,4%
Return on investment 15,1%
Return on equity 11,4%
Quick ratio 2,3
Current ratio 0,8
Equity ratio 41,1%
Gearing 23,9%

Financial support from the state

Financial support from the state

 

Financial support from the state
Special state grant 2,539 M€ The use of the special state grant is related to the development of the computing service infrastructure, service concepts and data warehouse services.
Investment aid granted by the Ministry of Education and Culture 1,246 M€ The investment aid covers the costs of investments related to the maintenance, control and security of the computing server environment owned and / or financed by the State and managed by CSC.

Incomes

 

Operating profit

 

Solvency ratio

 

Liquidity ratio

 

Return on Capital

 

Tax footprint

 

Cashflows to stakeholders

 
Cashflows to stakeholders in 2021
Stakeholders Direct and indirect effects
Customers

Net sales 56,441 M€

EU, Business Finland, Finnish Academy fundings
10,189 M€

Direct financial effects:
Through the CSC, the Ministry of Education and Culture implements its obligation under the Act on Information Management in Public Administration to promote co-operation and interoperability of information systems in the target areas of education, science, culture and public administration.

CSC's customers have access to an internationally high-quality research data network, scientific computing services, as well as training and expert guidance on the utilization of supercomputers.

Indirect financial effects:

CSC affects the competitiveness of Finnish research.

Suppliers -26,251 M€

Direct financial effects:
CSC mainly purchases goods and services from suppliers operating in Finland.

Indirect financial effects:
The collaboration creates business opportunities and jobs for suppliers

Personnel -34,998 M€

Direct financial effects:
All of CSC's personnel is in Finland. Wages and salaries of employees affect private consumption and taxes paid by individuals on the production of social welfare.

Indirect financial effects:
CSC develops the skills and performance of its personnel through training and job rotation. CSC's personnel have unique expertise, e.g. in the areas of scientific computing, data management and storage services.

Public sector -258 000 Taxes paid by CSC to the State
Non-profit organizations: grants and donations 0 In accordance with its Code of Conduct, CSC does not distribute donations, charitable grants or sponsor any groups.
Shareholders 0 CSC does not pay a dividend. The result for the financial year, EUR 1,016 million will be transferred in full to retained earnings.
Financiers

-65 000

12 000

Financial expenses

Financial income

Financial profit 1,016 M€ The result for the financial year is transferred in full to retained earnings.
Investments: depreciation 4,053 M€ CSC's own investments are in the maintenance, control and security of the state-owned and / or financed computing server environment and data infrastructure managed by CSC.

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