The Ministry of Education and Culture’s cuts in study places, which took place in 2012, as well as the cuts in the funding of universities of applied sciences, have ended for the time being. Now, the funding of universities of applied sciences is only regulated by the performance indicators set by the Ministry of Education and Culture and the universities’ relative position compared to other universities measured with these indicators.

The value-added tax processing of universities of applied sciences has changed: from the beginning of 2014, only rental expenses were VAT-deductible, and in 2015, all expenses including VAT became deductible. Due to this, the figures from different years are still not directly comparable in full.


Financial indicators

  2017 2016 2017 2016
Turnover 56 653 474 53 864 767 56 654 280 53 872 125
Profit 880 804 353 489 882 116 358 519
% of turnover
1,6 0,7 1,6 0,7
Salaries and fees 31 500 866 30 395 783 31 500 866 30 395 783
Salaries and fees,
% of turnover
55,6 56,4 55,6 56,4
Staff * 604 582 604 582
Rental expenses ** 6 835 388 6 357 113 6 835 388 6 357 113
Rental expenses,
% of turnover
12,1 11,8 12,1 11,8
Advance rental expenses,
10 034 542 10 765 463 10 034 542 10 765 463
Rate of
self-sufficiency (%)
78,9 80,6 78,9 79,0
Revenue from
own capital (%)
3,0 1,5 3,2 1,5
Revenue from
invested capital (%)
3,0 1,2 3,1 1,4
Quick ratio 3,6 3,7 3,6 3,1

* The average number of staff is calculated as person-years due to the seasonal turnover of part-time teachers.
** The rental expenses of 2015 include a €2,462,413 termination fee of the long-term rental agreement for the building on Puistokatu.


Degree programmes in JAMK University of Applied Sciences produced 1,165 bachelor’s degrees in 2017 (1,121 in 2016), as well as 195 master’s degrees (179 in 2016). The number of ECTS credits completed in the Open Studies was 12,877 (11,456 in 2016).

The number of students at the Teacher Education College during the financial year was 765, and vocational teaching qualifications were achieved by 404 people.

Degree goals of JAMK University of Applied Sciences for 2017–2020

Classification in accordance with the
agreement with the Ministry of
Education and Culture
2017-2020 on avg.
Result 2017 Result 2016 Result 2015
Bachelor’s degrees in total 1 063 1 165 1 121 1 108
- Arts and cultural fields, educational
fields, social sciences (Bachelor)
38 61 56 72
- Humanistic fields, medical science and health and wellness fields (Bachelor) 325 364 347 309
- Business management, administration
and law and service fields (Bachelor)
320 359 346 346
- Natural sciences, business information technology and telecommunications, technology fields and agriculture and
forestry fields (Bachelor)
380 381 372 381
Master’s degrees in total 205 195 179 198
Those with completed Teacher Education training 390 404 422 431

Research and development activities

In 2017, JAMK’s RDI activities increased by more than 30% compared to the previous year. External funding of RDI activities amounted to €6.6 million (€4.7 million in 2016), constituting a growth of approx. €1.9 million from the previous year. The overall volume increased significantly from the previous year to €9.4 million (€7.6 million in 2016). RDI activities increased in all units, but especially in the School of Technology unit, in which external funding amounted to almost €2.9 million.

As a new opening, JAMK received funding from the Horizon 2020 programme. Near the end of the year, JAMK began an external evaluation of its RDI activities, and the related four-person group made an evaluation visit in early November. The theme of the evaluation was improving the effectiveness of the RDI activities.

The RDI efforts focused on the strengths specified by JAMK’s strategy, including education and business expertise, bioeconomy, applied cyber security, multidisciplinary rehabilitation, and automation and robotics as an emerging field.

In order to strengthen the strategy work, expert groups led by the department managers were established for each of JAMK’s areas of strength. The activities of the strength areas were developed in a multidisciplinary manner. Similarly, the co-operation with key partners, the University of Jyväskylä and the municipal education consortium was diverse. JAMK experts were actively involved in the development of the Kangas, Nova (new hospital) and Hippos areas. Additionally, the EduFutura co-operation was established and strengthened.

Other activities

The turnover for business operations totalled approx. €4.7 million (€4.4 in 2016). Domestic and foreign education sales were particular areas of growth. As the economy improved, the service business developed at a high level, indicating JAMK’s competitiveness among working life organisations.

Education exports and tuition fees collected from students increased by almost 50%, compared to the previous year. Around half of the growth was generated from tuition fees now being collected from students from outside the EU/EEA for the first time. In total, education exports and tuition fees generated approx. €1.2 million. Near the end of the year, JAMK signed its all-time largest individual agreement, the value of which is €2 million. During 2017, the Ministry of Education of the People's Republic of China, JAMK and Beihua University carried out a nurse training programme evaluation, the passing of which facilitates the launching of new similar training programmes.

JAMK has focused its service operations on competence areas where the competence is based on the public educational mission, thus maintaining the staff’s competence. This way, the services particularly strengthen the quality of the education and keep it relevant and up-to-date in terms of the working life.


The average number of staff at JAMK University of Applied Sciences during the past financial year was 717 and the number of person-years amounted to 604 (582 in 2016). The staff expenses increased by €0.7 million.

Significant events after the end of the financial year

The operations have continued as planned after the end of the financial year. In early 2018, JAMK obtained a fundraising permit, and the fundraising goal is €3 million.

Forecast of future development

Now that the degree programme and funding cuts have ended, a positive development can be expected, provided that JAMK maintains its relative position among other universities of applied sciences.

The volume of RDI activities has seen a positive development, although the growth is now expected to even out. The turnover development of service operations has remained good. Education exports have become a strong pillar of support for business operations. Along with controlled business growth, JAMK’s profitability needs to be improved further.

Key risks and uncertainties

The key risks are the Parliament’s education funding decisions affecting the funding of institutes of higher education. From the perspective of financing indicators, this also has to do with how well JAMK retains its position in relation to other universities of applied sciences. The Ministry of Education and Culture’s financing indicators changed at the beginning of 2017, but this is not expected to weaken JAMK’s financial position.

For the most part, JAMK’s indoor air challenges are now under control thanks to facility renovations. The procedures will be continued in order to achieve a positive development in the indoor air situation.

Environmental issues

The environmental legislation and its changes do not require any particular measures as regards the company’s business, but taking account of environmental issues may have significance for the company’s image. JAMK University of Applied Sciences has been actively involved in bioeconomy RDI and education activities and in the Finnish Innovation Fund Sitra’s project Resource-Wise Jyväskylä.

Administration and organisation

The Board of Directors of the parent company assembled 11 times during the year of operation. The most essential decisions included regular matters concerning the budget and financial statements as well as the performance agreement proposals.

Rector Jussi Halttunen served as the president, Vice Rector Heikki Malinen as the president’s deputy, BDO Oy as the auditor and Jarmo Lohi (Chartered Accountant, Chartered Public Finance Auditor) as the principal auditor.

Management team

Chair  Jussi Halttunen, President
  Heikki Malinen, Vice Rector
  Mikko R. Salminen, Director of Administration
  (1 Jan–31 Jul 2017) Pekka Jääskö, Business Director, JAMK Generator 
  Pasi Raiskinmäki, Director, School of Technology
  Pekka Risku, Director, Teacher Education College
  Asta Wahlgrén, Director, School of Business and Services
Staff representative (1 Jan–31 Jul 2017) Heljä Kautto, Executive Secretary
  (1 Aug– 31 Dec 2017) Esa Salmikangas, Senior Lecturer
Secretary Heli Toivola, Marketing Manager

Board members

Board members of JAMK University of Applied Sciences Ltd. 1 January – 31 December 2017:

Aila Paloniemi, Chairperson 1 Jan – 30 Sep 2017  
Sinuhe Wallinheimo, Chairperson 1 Oct – 31 Dec 2017  
Simo Halttunen Jari Vähäpesola
Ahti Ruoppila Jouni Kurkela
Pauli Partanen    Lotta Ahola
Vesa Arkko Student representative  
Sami Jussinmäki

Staff representative
Mirja Nojonen 1 Jan – 7 May 2017
Minna Tunkkari-Eskelinen 8 May – 31 Dec 2017


and Eino Leisimo as controller for the City of Jyväskylä. 
Mikko R. Salminen, Director of Administration, served as the Board’s secretary.

The Annual General Meeting was held on 8 May 2017

Due to the municipal election, an Extraordinary General Meeting to appoint new Board members was held on 29 September 2017.

The JAMK University of Applied Sciences Group is a subgroup of the Jyväskylä City Corporation. The domicile of the City Corporation is the City of Jyväskylä.

A copy of the consolidated financial statements is available at: City of Jyväskylä, Talouskeskus public utility, Heikinkatu 3 B, FI-40100 Jyväskylä.

Board of Director's proposal to the Annual General Meeting

The Board of Directors proposes to the Annual General Meeting that the financial statements be approved and that the parent company’s profit for the financial year, €897,275.83, be left in the profit account.

Company shares

The parent company has 160 shares of the same type, with a nominal value of €168.19 each.