4 Financial Statements 2011-12
Financial Highlights
(2010-11 comparative figures shown in brackets) n Total income up 4% to £152m (£146m) n Operating Surplus before staff severance costs, joint ventures and FRS17 of £1.6m (£2.1m)
n EBITDA (Earnings before Interest, Tax, Depreciation and Amortisation – adjusted for one-off staff restructuring costs and pension FRS17 adjustment ) of £11.1m (£9.4m)
n Capital expenditure of £19.6m (£14.1m) n Net assets of £136m (£140m) n Net debt of £61m (£46m)
Summary Finances
2011-12 2010-11 £’000
Income Funding Council grants
Tuition fees and academic contracts Research grants and contracts Other income
Endowment and investment income Total Income
Total expenditure excluding staff severance Operating surplus
less staff severance costs and exceptional items add share of profit/(loss) in joint ventures add FRS17 pension accounting credit
Surplus for the year EBITDA
Capital expenditure
Capital grants received Net debt
Net assets at historic cost Student Numbers
2011-12 FTEs
Home/EU Overseas
Undergraduate Postgraduate
7,716 75% 2,574 25% 10,290 100%
8,418 82% 1,872 18% 10,290 100%
2010-11 FTEs
7,498 74% 2,596 26% 10,094 100%
7,743 77% 2,351 23% 10,094 100%
Change
218 3% -22 196
-1% 2%
675
-479 -20% 196
9% 1%
FTE = Full Time Equivalent studying at University of Essex campuses, excluding University Campus Suffolk Ltd and partner institutions.
33,952 62,734 25,445 29,533 440
152,104 150,501 1,603 -497
912
1,590 3,608
11,088 19,606 6,178
60,573 136,059 Change £’000
36,333 56,864 25,493 26,994 562
146,246 144,160 2,086 -2,748
1,162 1,477
1,977 9,398
14,110 5,446
46,306 140,024
1,631 1,690
5,496 732
14,267 -3,965
£000
-2,381 5,870 -48
2,539 -122
5,585 6,341 -483
%
-7% 10% 0% 9%
-22% 4%
4%
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