DTU's annual report for 2023 has just been released, revealing a surplus of 79 million DKK for the university. The result exceeds expectations and is primarily due to a series of improvements, which according to University Director Claus Nielsen, have been difficult to predict.
"The declining energy prices have had a significant impact on DTU, while the proportion of research grants has increased. The same applies to interest, patent, and license revenues," he says, continuing:
"But DTU has also made a series of difficult adjustments following a deficit in 2022 of 290 million DKK. This has contributed to the year ending positively."
Adjustments were a necessity
The financial adjustments at DTU included, among other things, the dismissal of 75 employees at the beginning of 2023.
According to Claus Nielsen, the new financial result does not change the fact that the adjustments were necessary.
"We were facing a 2023 with an unstable financial market and soaring energy prices. It would have been irresponsible not to adapt to the uncertain global situation," he says.
Claus Nielsen also explains that if DTU had taken no action and if the financial items and energy prices had developed as initially budgeted, the result for 2023 would have been a deficit much larger than expected. Instead, the deficit has turned into a surplus.
"We are in a position where internal decisions have contributed to a lasting stabilization of the economy. This provides security, both now and in the future," says Claus Nielsen.
Europe's best engineering education
In addition to the financial results, according to the annual report, DTU has delivered 'excellent' academic results in core areas such as innovation, education, and research.
For instance, 81 new DTU-based start-up companies were established in 2023. In the field of education, DTU expanded its digital education offering Digital Twin, while the work on relocating programs continues. Finally, DTU has entered a new authority-based advisory agreement with the Danish Defence Intelligence Service.
According to Claus Nielsen, one milestone in 2023 is particularly noteworthy. Namely, DTU's top ranking as the best technical university in Europe on the new EngiRank ranking list.
"It shows that we are an attractive partner for collaboration, internationally as well, and indicates that the world believes we are on the right track. We can indeed be proud of that," he says.
You can read the entire annual report for 2023 here.
