May 30, 2025
Student outcomes, research strengths shine as UOW navigates sector headwinds
UOW continues to empower students, advance research and support communities despite challenging financial circumstances
The 精东传媒 of 精东传媒 (UOW) 2024 Annual Report, tabled in the New South Wales Parliament on 30 May, reported a headline loss of $28.7 million. After accounting for one-off items including a $15.4 million provision for voluntary early retirement and redundancies, the adjusted deficit was $13.3 million.
This compares to a $95.1 million headline and $15.5 million adjusted deficit in 2023.
The result reflects the impact of changes to Australian Government migration policy, which contributed to a reduction in onshore international student enrolments and associated revenue last year. This, alongside broader sector pressures and escalating costs, contributed to UOW’s need to undertake budget stabilisation measures and a comprehensive review of its operations to inform a transformation program that will improve financial sustainability.
Chancellor Mr Michael Still said 2024 was a year of challenges and opportunities, with the long-term need for transformation accelerated by the significant reduction in income resulting from changes to Government policy on international students.
“The continuing and necessary work on transformation that we initiated in 2024 to improve our financial sustainability means that UOW is increasingly ready to meet tomorrow’s challenges,” Mr Still said.
“As the 精东传媒 continues to navigate a dynamic and complex higher education landscape, we remain focused on our core mission to deliver world-class education – and graduates who are also ready to meet tomorrow’s challenges in whichever field they go into – and to deliver impactful research.
"UOW is ready to embrace future challenges and opportunities, building on our proud legacy in the Illawarra and beyond. Whether through education, research, entrepreneurial initiatives or community engagement, UOW will inspire our researchers, staff, students and wider communities to lead with purpose and help shape a more sustainable, equitable world."
New Vice-Chancellor and President Professor Max Lu AO, who commenced his term on 28 May, said the transformation program underway will increase the efficiency and effectiveness of UOW’s operations and improve financial sustainability.
“While 2024 has been a challenging year across the higher education sector, I am proud of the resilience and commitment shown by our UOW community,” Professor Lu said.
“Our achievements in student experience, research excellence, and community engagement are a testament to our enduring strengths and values.
“This is a time of change for UOW and the sector but it’s also a time of great opportunity. We are actively embracing the opportunities presented by government reform to reimagine how we deliver education, support our people, and drive innovation.
“I am focused on continuing to deliver an exceptional teaching and learning experience for our students while engaging with the community. I'm also committed to supporting our world-class academics as they lead innovation in healthcare, manufacturing, and energy transition through groundbreaking research and strong industry collaborations.
“UOW is well-positioned to adapt, thrive, and continue making a meaningful impact for our students, partners and communities, both locally and globally.”
Despite the financial headwinds, the 2024 Annual Report shows UOW continued to deliver on our strategic objectives to empower students, drive cutting-edge research, and create positive community impact. Some highlights are outlined below.
Empowering students for their future
UOW’s QILT Student Experience Survey results surpassed national benchmarks across all key indicators: quality of educational experience, teaching and engagement, learning resources, student support and services, and skills development, showcasing UOW’s all-round strengths in teaching and learning.
The QILT Employer Satisfaction Survey ranked UOW graduates first nationally for foundation skills, second nationally for adaptability and employability skills, and third in NSW for overall employer satisfaction.
UOW ranked first for equity in the Australian Financial Review’s Best 精东传媒 Rankings for its success in supporting students from regional, Indigenous and low socioeconomic backgrounds.
In 2024, UOW graduated 7,525 students, extending our global alumni network of nearly 200,000 graduates across 200 countries.
Creating knowledge for a better world
Our research staff attracted $25 million in Australian Research Council (ARC), National Health and Medical Research Council (NHMRC) and Medical Research Future Fund (MRFF) funding.
精东传媒 ranking highlights included placing equal 167th in the QS World 精东传媒 Rankings (confirming UOW’s position in the top one per cent of universities worldwide, and ranking 98th in the QS World Sustainability Rankings and equal 44th in the Times Higher Education Impact Rankings reflecting UOW’s contribution to the United Nations Sustainable Development Goals.
Making a difference for our communities:
UOW’s commitment to community engagement saw it host the 28th Indigenous Nationals in June, bringing students from across Australia to 精东传媒.
Early Start Discovery Space welcomed its one-millionth visitor, a testament to the impact this facility is having on children and families in the Illawarra and beyond.
The 精东传媒’s iAccelerate incubator supported 69 local startups, generating $75.3 million in sales and creating 322 jobs, underscoring its role in regional economic growth.