Key Performance Indicators 2020
Jamk University of Applied Sciences Ltd’s 24th operating year in 2020 was significantly affected by the global COVID-19 pandemic.
Year 2020 was largely marked by the pandemic: Jamk relied on remote connections in most activities, and the campuses remained closed part of the spring. The commissioning of the new student administration system Peppi was another key development.
As the pandemic broke out, the results of the financial year were expected to be poor; Jamk managed to keep its activities more or less at the planned levels, however, and the service activities were the only ones that did not reach the target. This situation was also influenced by the fact that the pandemic hit everyone equally, and all parties thus shared a preparedness to be flexible in different situations, coping as well as possible with the effects of the pandemic. What also made things easier was the entire organisation’s excellent digital capabilities needed for distance work.
The operating profit was EUR 1,122,723 (profit for the financial year EUR 1,498,649), which was unexpectedly positive compared to the glum forecasts motivated by the pandemic in the early part of the year. However, the restrictions necessitated by the pandemic led to significant savings in service procurements and travel costs, which contributed to the good result.
Income statement: income 2020
| Income statement: income 2020 | 61.9M€ | 100% |
|---|---|---|
| Ministry of Education funding | 46.3M€ | 75 % |
| Subsidies and financial support | 1.6M€ | 3 % |
| Income from education services | 4.4M€ | 7 % |
| Other sales income | 1.8M€ | 3 % |
| Income from R&D | 7.2M€ | 12 % |
| Other income | 0.6M€ | 1 % |
Income Statement: Expenses 2020
| Income statement: expenses | 60.4M€ | 100% |
|---|---|---|
| Personnel expenses | 43.5M€ | 72 % |
| Services | 7.0M€ | 12 % |
| Material and supplies | 0.9M€ | 1 % |
| Allowances and benefits | 1.0M€ | 2 % |
| Rents | 6.9M€ | 11 % |
| Other expenses | 0.4M€ | 1 % |
| Depreciation | 1.2M€ | 2 % |
| Financial yields | -0.4M€ | -1 % |
Financial indicators
| Indicators | Group | Parent Company | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Year | 2020 | 2019 | 2018 | 2017 | 2020 | 2019 | 2018 | 2017 | ||||
| Turnover M€ | 61,9 | 59,8 | 58,7 | 57,0 | 61,9 | 59,8 | 58,8 | 57,0 | ||||
| Change in turnover (%) | 3,5 % | 1,8 % | 3,1 % | 5,0 % | 3,5 % | 1,8 % | 3,1 % | 5,0 % | ||||
| Profit M€ | 1 121 | -1 020 | 410 | 881 | 1 123 | -1 018 | 411 | 882 | ||||
| Profit, % of turnover | 1,8 % | -1,7 % | 0,7 % | 1,5 % | 1,8 % | -1,7 % | 0,7 % | 1,5 % | ||||
| Change in own capital (%) | 4,8 % | -0,02 % | 2,6 % | 3,6 % | 4,8 % | -0,02 % | 2,6 % | 14,4 % | ||||
| Revenue from own capital (%) | 4,7 % | -1,6 % | 1,0 % | 3,0 % | 4,7 % | -1,6 % | 1,0 % | 3,2 % | ||||
| Revenue from invested capital at fair value (%) | ||||||||||||
|
5 % | 6 % | -1 % | - | ||||||||
|
4 % | 13 % | -4 % | - | ||||||||
| Quick ratio | 3,3 | 3,1 | 2,6 | 3,6 | 3,3 | 3,0 | 2,6 | 3,6 | ||||
| Days cash on hand | 112,0 | 82,6 | 80,7 | 150,0 | 109,3 | 79,9 | 77,9 | 147,1 | ||||
| Rate of self-sufficiency (%) | 81,1 % | 81,5 % | 80,5 % | 78,8 % | 81,1 % | 81,5 % | 80,5 % | 78,9 % | ||||
| Net gearing (%) | -57,7 % | -44,5 % | -42,0 % | -34,8 % | -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 entered into a new agreement with the Ministry of Education and Culture for the period 2021–2024. The funding of universities of applied sciences has been based on the ministry's performance indicators. Measured by the ministry’s indicators, the activities of Jamk University of Applied Sciences have been extensive and reached good results across the board. In addition, Jamk met its target regarding the ministry’s strategy-based funding.
Personnel
In financial year 2020, Jamk University of Applied Sciences had a personnel of 744 (743 in 2019) and accumulated 669 person-years. The personnel expenses went up by EUR 1.6 million year on year.
Administration and organisation
The parent company's Board of Directors met ten times in 2020. The most important decisions made by the Board concerned statutory budget matters and financial statements.
Rector Jussi Halttunen served as President and Heikki Malinen 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).
Chair |
Jussi Halttunen, President, Rector |
| Heikki Malinen, Vice Rector | |
| Mikko R. Salminen, Director of Administration | |
| Pertti Malkki, Director, School of Health and Social Studies | |
| Pasi Raiskinmäki, Director, School of Technology | |
| Pekka Risku, Director, Teacher Education College | |
| Asta Wahlgrén, Director, School of Business and Services (1.1. – 10.5.2020) | |
| Minna-Maaria Hiekkataipale, substitute Director, School of Business (11.5.-31.10.2020), Director, School of Business (1.11.2020 – 31.12.2020) | |
Staff representative |
(1.1. – 31.7.2020) Pekka Natunen, Senior Lecturer |
| (1.8. – 31.12.2020) Heljä Kautto, Executive Secretary | |
Secretary |
Heli Toivola, Marketing Manager |
Board Members
| Sinuhe Wallinheimo | Chair of the Board |
| Aila Paloniemi | Vice Chair (1.1. – 3.5.2020) |
| Jari Vähäpesola | Vice Chair (4.5. – 31.12.2020) |
| Lotta Ahola | Board Member |
| Vesa Arkko | Board Member |
| Jouni Kurkela | Board Member |
| Ahti Ruoppila | Board Member |
| Mirja Nojonen | Staff representative |
| Mikael Rauhansalo | Student representative (1.1. – 4.5.2020) |
| Niklas Sillander | Student representative (4.5. – 31.12.2020) |
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.