IMD Annual Report 2021

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Financial information

In2021, IMD’s financial performancewas the result of thestrategy put in place four years before, and updated at the start of the COVID-19 pandemic.

Virtual and in-person boost Since the beginning of the pandemic, IMD increased its efforts on the strategic front of program digitalization and innovation, including its degree programs. As a result, revenues from virtual liVe offerings have been considerable and the expansion of both synchronous (virtual liVe formats) and asynchronous (online) learning programs contributed to revenue. In parallel, IMD developed and maintained a safe campus environment to protect its clients, program participants, faculty and staff. Therefore, as soon as participants were back on campus, they could attend programs with all sanitary measures in place. For instance, IMD opened a third cohort for the Executive MBA, who were able to enjoy sessions on campus. 2021 was also dedicated to faculty research and study with the publication of 20 FT50 journal articles, eight books, numerous conference papers and 53 case studies.

By the end of 2021, more than 60% (vs. 10% pre- COVID) of revenues were generated by programs delivered virtually or online, synchronously and asynchronously. In Q1 and Q2 2021, the school continued to build on the good performance from virtual liVe programs developed in 2020 (+27% revenues vs. S1 2020). After the summer, more participants were back on campus for face-to-face programs due to fewer travel restrictions and the positive impact of vaccination drives in Switzerland and internationally. Overall, in 2021, IMD achieved operating revenues of 119.9 million Swiss francs, a 38% increase compared to 2020.