Consolidated Income Statement Nyenrode Foundation


Consolidated Income Statement Nyenrode Foundation

by Remmelt Vetkamp, CFO

In the academic year 2018-2019 our total revenue reached € 61.8 million (2017-2018: € 57.6 million). Nyenrode has thus reached and surpassed its strategic goal of revenue growth to € 60 million which we believe gives the organization the possibility to make continuous investments in the quality of its research and education programs and support the landmark estate.

The consolidated result before tax in 2018-2019 amounted to € 3 million (2017-2018: € 3.3 million). Nyenrode has been investing in own personnel (academic and support staff) and made extensive use of flexible external teaching capacity to deliver the best quality in its Degree and Executive Programs. These efforts are the main cost driver and have increased in 2018-2019.

Overview - consolidated income statement

The positive financial result further reinforces the strong financial position of Nyenrode Foundation (Stichting Nyenrode). The solvency of the Nyenrode organization rose from 41% last year to 43.9% now.

Nyenrode expects continuous positive operational cash flows in the foreseeable future. The stable positive cash flow will be achieved through the growth of a diversified program portfolio (degree programs and Executive Education) in Breukelen, Amsterdam and elsewhere and optimization of internal processes. Nyenrode strives to maximize its value for all stakeholders, and on the long-term all positive cash flows are reinvested in the university's high-quality research and education and well-maintained estate with all its listed monuments.”

Remmelt Vetkamp