Key Performance Indicators 2021
The year 2021 was the 25th year of operation of Jamk University of Applied Sciences Ltd. The year was further marked by the pandemic, which led to education, services and research and development being carried out mainly remotely.
In 2021, the operations of Jamk University of Applied Sciences still had to be carried out mainly remotely. For example, only the necessary teaching was carried out as contact teaching. However, the services of the university were kept open at all times to support the progress of studies and the well-being of students.
The result for the financial year was more positive than expected. Only education exports fell short of the set target. This was due to the fact that everyone faced the pandemic in the same way and thus each party had a common desire to be flexible and to manage as well as possible with the effects of the pandemic. The fact that the entire university has very good digital capabilities to operate remotely helped significantly. During the pandemic, the operating models have also further developed.
The operating profit for the financial year was € 1,250,402 and the result for the financial year was € 2,422,368, which exceeded the budgeted target. The continued restrictions caused by the pandemic continued to lead to significant savings in service purchases and travel costs.
Income statement: income 2021
| Income statement: income 2020 | 65,5M€ | 100% |
|---|---|---|
| Ministry of Education funding | 48,0M€ | 73 % |
| Subsidies and financial support | 2,5M€ | 4 % |
| Income from education services | 5,0M€ | 8 % |
| Other sales income | 2,2M€ | 3 % |
| Income from R&D | 7,2M€ | 11 % |
| Other income | 0,5M€ | 1 % |
Income Statement: Expenses 2021
| Income statement: expenses | 63,1M€ | 100 % |
|---|---|---|
| Personnel expenses | 45,4M€ | 72 % |
| Services | 7,5M€ | 12 % |
| Material and supplies | 0,7M€ | 1 % |
| Allowances and benefits | 1,1M€ | 2 % |
| Rents | 7,6M€ | 12 % |
| Other expenses | 0,4M€ | 1 % |
| Depreciation | 1,4M€ | 2 % |
| Financial yields | -1,2M€ | -2 % |
Financial Indicators
| Indicators | Group | Parent Company | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2021 | 2020 | 2019 | 2018 | 2017 | 2021 | 2020 | 2019 | 2018 | 2017 | |||
| Turnover M€ | 65,5 | 61,9 | 59,8 | 58,7 | 57,0 | 65,5 | 61,9 | 59,8 | 58,8 | 57,0 | ||
| Change in turnover (%) | 5,7% | 3,5 % | 1,8 % | 3,1 % | 5,0 % | 5,7% | 3,5 % | 1,8 % | 3,1 % | 5,0 % | ||
| Profit M€ | 1249 | 1 121 | -1 020 | 410 | 881 | 1250 | 1 123 | -1 018 | 411 | 882 | ||
| Profit, % of turnover | 1,9% | 1,8 % | -1,7 % | 0,7 % | 1,5 % | 1,9% | 1,8 % | -1,7 % | 0,7 % | 1,5 % | ||
| Change in own capital (%) | 7,4% | 4,8 % | -0,02 % | 2,6 % | 3,6 % | 7,4% | 4,8 % | -0,02 % | 2,6 % | 14,4 % | ||
| Revenue from own capital (%) | 7,1% | 4,7 % | -1,6 % | 1,0 % | 3,0 % | 7,1% | 4,7 % | -1,6 % | 1,0 % | 3,2 % | ||
| Revenue from invested capital at fair value (%) | ||||||||||||
|
9% | 5 % | 6 % | -1 % | - | |||||||
|
13% | 4 % | 13 % | -4 % | - | |||||||
| Quick ratio | 2,9 | 3,3 | 3,1 | 2,6 | 3,6 | 2,8 | 3,3 | 3,0 | 2,6 | 3,6 | ||
| Days cash on hand | 87,8 | 112,0 | 82,6 | 80,7 | 150,0 | 85,3 | 109,3 | 79,9 | 77,9 | 147,1 | ||
| Rate of self-sufficiency (%) | 81,5% | 81,1 % | 81,5 % | 80,5 % | 78,8 % | 81,6% | 81,1 % | 81,5 % | 80,5 % | 78,9 % | ||
| Net gearing (%) | -44,3% | -57,7 % | -44,5 % | -42,0 % | -34,8 % | -43,0 % | -56,3 % | -43,0 % | -40,5 % | -33,2 % | ||
In the liquidity ratios, the consolidated account of the City of Jyväskylä has been included in cash and cash equivalents.
The figures for the comparison years have been adjusted to comply with the new Ministry of Education and Culture's economic code.
Jamk University of Applied Sciences is implementing the target and performance agreement agreed with the Ministry of Education and Culture for the contract period 2021–2024. The funding of university is based on the Ministry's performance indicators. From the perspective of the Ministry’s performance indicators, Jamk University of Applied Sciences' operations have been extensive and have achieved good results. In addition, the Ministry’s strategy-based funding has been received as targeted for the contract period.
Personnel
The average number of personnel at Jamk University of Applied Sciences during the financial year was 782 people (744) and the number of person-years was 700 (669). Personnel expenses increased by 1.9. M€ compared to the previous year.
Number of personnel in Jamk.
Administration and organisation
The parent company's Board of Directors met 12 times in 2021. The most important decisions made by the Board concerned statutory budget matters and financial statements.
Rector Jussi Halttunen served as President from 1 January to 30 July and Vesa Saarikoski from 1 September. Heikki Malinen, Vice Rector, has acted as President's Deputy. The auditors BDO Oy were represented by principal auditors Pertti Hiltunen (Chartered Accountant) and Hanna Keskinen (Chartered Accountant, Chartered Public Finance Auditor).
| Management Team | |
|---|---|
| Chair | Jussi Halttunen, President, Rector (1.1.2021-30.7.2021) |
| Chair | Vesa Saarikoski, President, Rector (1.9.2021-31.12.2021) |
| Heikki Malinen, Vice Rector (Deputy President 31.7.2021-31.8.2021) | |
| Mikko R. Salminen, Director of Administration | |
| Minna-Maaria Hiekkataipale, Director, School of Business and Services | |
| Pertti Malkki, Director, School of Health and Social Studies | |
| Pasi Raiskinmäki, Director, School of Technology (1.1.2021-30.11.2021) | |
| Sami Kantanen, substitute Director, School of Technology (1.12.2021-31.12.2021) | |
| Pekka Risku, Director, School of Professional Teacher Education | |
| Staff representative | Heljä Kautto, Executive Secretary (1.1.2021 – 31.7.2021) |
| Staff representative | Pia Piispanen, Specialist (1.8.2021-31.12.2021) |
| Student representative | Stella Palassalo (1.1.2021-31.7.2021, 13.9.2021-31.12.2021) |
| Secretary | Heli Toivola, Marketing Manager |
Board Members
| Sinuhe Wallinheimo | Chair of the Board (1.1.2021-30.9.2021) |
| Bella Forsgrén | Chair of the Board (1.10.2021-31.12.2021) |
| Jari Vähäpesola | Vice Chair (1.1.2021-30.9.2021) |
| Kimmo Suomi | Vice Chair (1.10.2021-31.12.2021) |
| Lotta Ahola | Board Member (1.1.2021-30.9.2021) |
| Vesa Arkko | Board Member |
| Jouni Kurkela | Board Member |
| Niilo Nissinen | Board Member (1.10.2021-31.12.2021) |
| Antti Manninen | Board Member (1.10.2021-31.12.2021) |
| Aila Paloniemi | Board Member (1.1.2021-30.9.2021) |
| Ahti Ruoppila | Board Member (1.1.2021-30.9.2021) |
| Mirja Nojonen | Staff representative (1.1.2021-3.5.2021) |
| Karo Saharinen | Staff representative (4.5.2021-31.12.2021) |
| Niklas Sillander | Student representative |
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 4 May 2020.
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.