Despite the COVID-19 pandemic, LUT's research and education results exceeded those of the previous year.
LUT produced 451 high-level international scientific publications with a Publication Forum rating of 2 or 3 (in 2020: 420). A total of 63 doctoral graduates (in 2020: 50) and 803 Master's graduates (in 2020: 790) completed their degrees, and 51.1 per cent of graduates obtained their degree in the target time (in 2019: 43.1%).
"In addition to the academic results, the year was strong for LUT also financially. We started out with a slight deficit but ended up with a great profit. We improved our result significantly and were especially successful in increasing our supplementary funding," says LUT University's Rector Juha-Matti Saksa.
Outstanding results in the prominent THE rankings
The year 2021 was the second implementation year of LUT's current strategy. The themes of the strategy are global and phenomenon-based, and they have an important national and local dimension. They also align with the UN's Sustainable Development Goals (SDGs).
"The year saw other triumphs as well, which we have been happy about. In the spring, the Finnish Education Evaluation Centre (FINEEC) carried out a quality audit on LUT's quality management system, and LUT passed the third audit round. Two out of three audit areas were evaluated as excellent. The quality label will be valid for six years," Saksa summarises.
"In the fall, we applied for educational responsibilities in social sciences, LUT's thousandth doctor graduated, and we improved our ranking positions despite the increasing competition."
The THE rankings released in early September placed LUT University among the world's top 300 universities. On a global scale, this means that LUT rose to the top one per cent of over 25 000 universities worldwide. Nationally, we share third place after the University of Helsinki and Aalto University.
The LUT School of Business and Management ranked among the top 175 business schools in the THE rankings by subject. There are roughly 16 500 academic business schools in the world. LUT also improved its ranking in physical sciences, rising to the top 175. In engineering, LUT was placed in the top 400, and in computer sciences, in the top 600.
In the THE Impact Ranking, which measures how universities align with the UN's Sustainable Development Goals, LUT was in the top 300 of 1 115 universities globally. LUT is one of the world's top 10 universities for climate action (SDG 13).
The university succeeded in raising supplementary funding and achieved a turnover of 101.0 million euros, which is 7.6 million euros more than in the previous year. LUT raised supplementary funding in the amount of 46.5 million euros, corresponding to 46 per cent of the university's turnover. The share of core funding provided by the Ministry of Education and Culture was 54.5 million euros.
LUT University's operational result after returns and costs showed a profit of 4.5 million. The returns on investments from capital from the past decade and the valuation of LUT's investment portfolio increased the university's positive result. The result for the accounting year showed a profit of 15.2 million euros.