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The University of Jyväskylä made a good academic result in 2018

The financial statement and annual report of the University of Jyväskylä 2018

The University of Jyväskylä achieved the doctoral degree targets with 139 doctors. The master’s degree targets were exceeded clearly with 1,513 graduated masters. The number of bachelor’s degrees, 1,220, decreased from 1,344 in 2017. The University’s targets agreed with the Ministry of Education and Culture for 2017–2020 are on average 1,475 masters and 138 doctors per year. The average target for bachelor’s degrees is 1,360 degrees per year.

The number of scientific publications decreased slightly from the previous year and the total number of publications has stabilised to the level of 2,330.

During 2018, the University of Jyväskylä stabilised it operations in the new structure of faculties and independent institutes, effective from 1 January 2017. Academic leadership was reinforced and the Rector named six full-time deans for the term of office from 1 January 2018 to 31 December 2021.

New University Board started its term of office on 1 January 2018. In January, the Board started the University’s strategy work, and the JYU’s strategy for 2019–2030, Competence and wellbeing for the individual, was confirmed in December. Strategy development programmes were prepared during the year and they will be confirmed in April 2019.


JYU strengthened regional cooperation. The EduFutura Jyväskylä cooperation with JAMK University of Applied Sciences and the Jyväskylä Educational Consortium Gradia has become closer. In addition, JYU also actively participated in the development of the City of Jyväskylä’s Hippos2020 project and the strengthening of the Wellbeing Expertise Centre of Central Finland KeHO. Cooperation between the University, the City of Jyväskylä, the Central Finland Health Care District and the Region of Central Finland has been closer in order to promote the town’s status as a city for students and physical exercise and to increase attractiveness.


The share of supplementary funding (35%) and total sum in euros (€72.1 million) increased slightly (€0.3 million) from the level of the previous year.Competitive research funding included in the funding model of the Ministry of Education and Culture grew 5% in comparison to the average level of three previous years.As before, the biggest project financers were the Academy of Finland (€26 million), Business Finland (€3.5 million) and the European Commission (€8.7 million).


The University’s total revenue, including funding from the Ministry of Education and Culture in compliance with the Universities Act and all supplementary funding, was €204.3 million. Total expenditure was €208,6 million. Thus, the deficit of actual operations was €4.3 million. Staff costs made two-thirds of all expenses of the University, in total €139 million. Facility rents constitute 12% of total costs. This means that only 20% of costs are other than staff costs or facility rents. Staff expenses were the only significant expense item that increased from the previous year.


According to the new instructions of the Ministry of Education and Culture, the processing of the unrealised value change of investment assets was adjusted starting from the financial year 2018, and the unrealised value change that was earlier processed in the current value assets is treated in the balance sheet as an item that has an effect to the result.

The result of actual operations was €4.3 million negative and the realised result of investment activities was €6.3 million positive.For this part, and using the previous accounting method, the University’s financial statement was €2.1 million positive.

However, rapid fluctuation of financial market at the end of the year caused an exceptionally large calculated unrealised value decrease of investment assets in comparison to the previous year. This, as a result of the renewed accounting procedure for investment assets, turned the University’s financial result €9.3 million negative. In January–April 2019, most of the rapid value decrease has already recovered.


The University group consists of the University, EduCluster Finland Ltd, Uniservices Ltd and the fund management company Unifund Jyväskylä Ltd.

In 2018, the turnover of EduCluster Finland grew 7% to €10.7 million (€9.9 million in 2017). The education export company has recruited more personnel (21) for the future growth, which turned the result negative –3% (€–355,000). At the end of the year the company had 122 employees, of which about 80 worked abroad.

Unifund Jyväskylä Ltd is a fund management company of the University. After its establishment, the company has evaluated about 35 potential investment targets and invested in four of them.

UniServices Ltd did not have business activity.

The University Board approved the group’s financial statement and annual report in its meeting of 19 March 2019. The University Collegium will process the confirmation of the financial statement and annual report in its meeting of 9 April 2019.

The financial statement and annual report of the University of Jyväskylä 2018:

More information:

Rector Keijo Hämäläinen, tel. +358 40 680 0215,

Finance and Service Director Päivi Seppä, tel. +358 50 591 9522,  

Development Director Jarkko Pirkkalainen, tel. +358 50 373 2121,