Financial responsibility

CSC’s objective 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 2020 was to expand the funding base and to have good management and transparency of the cost structure.

The company's financial balance continued to be good in 2020, growth was achieved by expanding existing customer operations, and new services were developed in various customer areas. The company's cost structure remained at the level of previous years and partly below it. Increased turnover and a good balance in the economy also led to a good result.

The Covid-19 pandemic posed a variety of challenges for the company, which, however, were well met by agile operations. CSC strives to operate in a cost-effective and transparent manner and thereby also respond to future seasonal fluctuations and challenges in the most efficient way possible. CSC's financial result and key performance indicators are presented in more detail in the Report of the Board of Directors, Financial Statements and Auditor's Report. 

Financial key figures

In 2020, the company's turnover was EUR 54.7 million.

Financial key figures 2020
Financial key figures 2020
Operating profit 4,6 %
Return on investment 34,3 %
Return on equity 26,7 %
Quick ratio 2,2
Current ratio 0,9
Equity ratio 38,9 %
Gearing 24,1 %

 

Financial support from the state

Financial support from the state 2020

Financial support from the state

Special state grant

4,888 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

15,574 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.

 

 

 

 

Financial cash flows to stakeholders

Financial cash flows to stakeholders 2020
Cash flows to stakeholders 2020
Stakeholders

Direct and indirect effects

Customers

Net sales 54,739 M€

EU, Business Finland, Finnish Academy fundings
5,889 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 -25,062 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 journalists.

Personnel

-30,350 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 -499 000€

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 of EUR 1.978 million will be transferred in full to retained earnings.

Financiers

-59 000€

12 000€

Financial expenses

Financial income

Financial profit

1,978 M€

The result for the financial year is transferred in full to retained earnings.

Investments: depreciation

2,691 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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