The Year of Geology 2016

Revenue remained at a good level

Overall, GTK’s financial result was good. In the report year, the total funding available was EUR 35.5 million. EUR 32.7 million was budget financing for 2016, and EUR 2.8 million was funding transferred from 2015. Compared to 2015, the budget financing decreased by EUR 3.2 million.

The total expenditure was EUR 45.6 million, which was EUR 3.1 million less than on the previous year – a significant change.

Jointly funded operations increasing steadily

The total profit was EUR 13.3 million, which was marginally more than in the previous year. The share of commercial activities from the profit was EUR 7.4 million, which was clearly less than in 2015. This decrease was mainly caused by the decrease of orders from the GTK Mintec pilot plant, which is a result of the current state of the mineral sector. Also the fact that the profit from technical sampling services was not included, affected the result. Once more, the majority of the profit came from the business sector.

For jointly funded activities, the year 2016 was record-breaking in terms of both profit and the increase in corporate cooperation. The share of jointly funded activities from the profit was a record-breaking EUR 5.2 million. Partial funding from the Academy of Finland and the Horizon 2020 funding were emphasized in the projects more than before. In the case of these, the cost correlation exceeds the set target level clearly.

There were a total of 39 projects in progress. The majority (19) of the EU projects were ERDF projects. There were 13 Horizon projects. In 2016, the most profitable EU projects were the ERDF projects EURARE, UAV-MEMO, and KaiHaMe, the MLA investment project, and the Horizon project Smart Ground.

There were eight public research projects funded by Tekes. The share of projects funded by the Academy of Finland increased. There were 11 projects which produced the profit of EUR 0.8 million.

The report of the realization of each objective of the performance agreement between 1 January and 31 December 2016 has been published at,(in Finnish).

Revenues by client group in 2016

Structure of GTK finances 2012–2016 (EUR 1000)

Structure of GTK’s Expenditure in 2016

Jointly funded operations, income in 2015 and 2016