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 rather used to ensure the continuation and development of activities.

Our financial position continued to be solid. The Blood Service’s internal net profit for the financial period was €2.3 million. Thanks to our good financial situation, we were once again able to avoid price increases for blood products for the fifth consecutive year despite general price inflation.

In 2018, our turnover was €60.4 million, 0.3% down on the previous year. The share of blood products sold to hospitals was 2/3 of turnover. The turnover of blood products increased by 1.3%. Personnel-related costs increased by 0.5%, representing a high proportion (45%) of the Blood Service’s total costs. In contrast, material and subcontracting expenses were down by 1.0%. Other expenses, including premises, ICT and logistics costs, increased by 2.0%.

At the end of the financial year, the Blood Service’s total capital was €76.9 million, of which €39.7 million was invested in securities. The bank balance was €28.6 million.

The Blood Service prepares an internal profit and loss account and a 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.

 

 

     

 

 

Thanks to our good financial situation, we were able to avoid price increases for blood products.