Finances and social responsibility

Finances and social responsibility

The Blood Service is a non-profit organisation. Its activities are financed by the sales of products and services to healthcare organisations. The Blood Service is not supported by government funds or other external sources, except for grants and subsidies for research projects. Any financial surplus is not shared but instead used to ensure the continuation and development of activities.

Net profit for the financial year was €2.1 million. Financial income accounted for €2.2 million of the financial result. Turnover was €57.2 million, 2.6% down on the previous year. The decrease is largely due to a fall in demand for blood products.

Personnel costs increased by 1.1%. Material and subcontracting expenses were down by 3.7%. Other costs, the largest of which were incurred by premises, ICT and logistics services, increased by 3.4%.

The use of blood products has declined by some 25% in 10 years. The Blood Service has adjusted well to the situation, and there has been no need to increase the prices of blood products since 2014. Prices will remain unchanged in 2021.

At the end of the financial period, the Blood Service’s internal balance sheet shows total capital of €88.5 million. €23.5 million of this is in an independent fund of the Finnish Red Cross, the purpose of which is to support research and development activities at the Blood Service. €48.0 million was invested in securities, and the bank balance was €33.6 million.

The Blood Service prepares an internal profit and loss account and balance sheet on its operations. The Blood Service’s financial result is included in that of the Finnish Red Cross, on which no auditor’s report had been issued at the date of signing the Blood Service's balance sheet book.

 

 

     

 

 

Watch the video: The Journey of blood