Aalto EE Tripled Its Operating Result After a Slump Caused by the Pandemic

The operating result of Aalto University Executive Education Ltd (Aalto EE) improved significantly in 2021 and the financial footprint in the Aalto community was even record high.

Photo: Mikko Raskinen / Aalto University

7.3.2022

Last year, Aalto EE's operating result rose to 1.21 million from the previous year's EUR 402,000. The company's turnover also increased from 2020 and was 20.2 million (€17.6 million in 2020). Net sales were thus almost at the level of 2019, in other words almost as good as before the Covid-19 pandemic.

Despite the changes in the operating environment and the unpredictability caused by the pandemic, Aalto EE, one of the world's 50 best executive education providers, is well equipped to continue on the growth path, investing in lifewide learning solutions in even more close cooperation with its owner, Aalto University, than before.

A successful digital leap is reflected in the result

In the spring of 2020, Aalto EE quickly switched to online, and both last year's financial result and the customer feedback received show that it succeeded well in distance education.

The 2021 programs were implemented either completely remotely or in hybrid form. The customer feedback received was at the same level as before the pandemic in more traditional classroom teaching.

It seems evident even globally that hybrid education is here to stay, making education achievable for an increasing number of people who want to develop their competences.

Sales of Aalto EE's MBA and Executive MBA programs, open enrollment programs, and customized programs increased compared to the previous year. In particular, the popularity of E/MBA programs continued to grow and the number of people entering the programs was at a record high.

“Aalto EE's result indicates that organizations have awakened to the need for development even during exceptional times like the pandemic. Both companies and individuals need a new kind of knowledge and, among other things, digital skills in a new kind of operating environment. Aalto EE has been able to meet these needs excellently,” says Petri Suomala, Chairman of the Board of Aalto EE and Vice Rector for Education at Aalto University.

Suomala points out that the popularity of MBA programs continues to grow worldwide, even though there has been much discussion about their “death” during many years. The Aalto EMBA and Aalto MBA programs are constantly being developed. Today, for example, responsibility and sustainability are an integral part of them.

"The programs also focus on self-knowledge and -leadership, as well as social skills, the share of which in the organizational development palette has increased significantly during the pandemic," says Suomala.

Aalto EE generates considerable monetary value for Aalto University

A significant amount of Aalto EE's operations is channeled back to the Aalto University community each year in the form of for example dividends, royalties, lecture fees, and rents. In 2021, the financial footprint of the university-owned company in the Aalto community was EUR 4.1 million (EUR 2.3 million in 2020).

“This amount is a great indication that Aalto EE, as a limited company, can generate considerable monetary value for its owner to be further channeled into research and education. Cooperation with the university is further expanding in lifewide learning solutions, represented by Aalto EE's newest business area, Aalto ACCESS. As a result, we are able to package individual courses and programs for our customers from the entire Aalto University and Aalto EE offering into new types of low-threshold opportunities,” says Tom Lindholm, Managing Director of Aalto EE.


Further information

Petri Suomala                                                                                                                                
Vice President, Education, Aalto University
Chair of the Board, Aalto University Executive Education Ltd
Tel. +358 40 591 8044
vp-education@aalto.fi

Tom Lindholm
Managing Director, Aalto University Executive Education Ltd
Head of Lifewide Learning, Aalto University
Tel. +358 50 0474 746
tom.lindholm@aaltoee.fi

 

Aalto University Executive Education Ltd

Aalto University Executive Education Ltd (Aalto EE) consists of five separate brands. Aalto EE offers thought-provoking leadership development services, Aalto PRO professional development services for experts and managers, and Aalto ENT development services that help entrepreneurs create new business models and opportunities. Finva serves the insurance, banking, and finance sector as well as individuals and organizations in need of financial training, and our newest brand, Aalto ACCESS, offers inclusive, low-threshold programs and courses that are easily applied to an individual’s work combining the portfolios of Aalto EE and Aalto University.

Aalto University Executive Education’s strengths lie in its global operating model and diverse offering. Aalto University brings to our offering a multidisciplinary approach, together with innovative learning methods; this provides a unique combination of practical expertise with the latest research. In addition to Finland and Singapore, Aalto University Executive Education Ltd offers education programs worldwide. As a part of Aalto University, it holds three respected business university accreditations – AACSB, AMBA, and EQUIS – which places it among the top 0.5% of institutions in the world.