Result bulletin, March 2020
The University of Jyväskylä exceeded its master’s degree targets with in total 1,576 master’s degrees in 2019. The result increased with 63 degrees from 2018.The number of completed bachelor’s degrees was 1,235 (1,220 in 2018). The number of doctoral degrees at JYU was 127. The University’s degree targets for 2017–2020, agreed with the Ministry of Education and Culture, 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 international peer-reviewed publications increased clearly from the previous year. The number of peer-reviewed publications and other scientific publications published in Finland continued to decrease slightly. It should be noted that international publishing activity is one of the key factors in the financing model for universities. Also the total number of scientific publications turned positive in 2019 after decrease in 2018.
The results of the maturity rankings of openness in science were published in the report Atlas of Open Science and Research in Finland 2019. The University of Jyväskylä rose to the highest level 5 from the level 4 of 2016 and was ranked third among Finnish universities after the universities of Turku and Tampere.
JYU ACTIVE IN REGIONAL COOPERATION
The University actively contributed to regional cooperation. Through curriculum work, the EduFutura cooperation with JAMK University of Applied Sciences and the Jyväskylä Educational Consortium Gradia focussed on the preparation of common study offering and collaboratively produced studies. In addition, JYU has also actively participated in the strengthening of the Wellbeing Expertise Centre of Central Finland KeHO.
TOTAL BUDGET AT THE LEVEL OF 2018 AND AN EXPECTED NEGATIVE OPERATIONAL RESULT
The University’s total budget remained at the level of the previous year and JYU succeeded in the Academy of Finland’s PROFI funding project by receiving funding for profiling for the fifth time successively.
The University’s turnover, consisting of the Government funding for higher education institutions from the Ministry of Education and Culture and supplementary funding, in the financial period 2019 was €204.3 million and the total expenses were €210 million. Of donations assets from previous years, €0.2 million was used. Thus, the operational result was €5.7 million in deficit.
Of all expenses, staff costs comprised 68%, €143 million. Facility rents constituted 12% of total costs. This means that only 20% of costs were other than staff costs or facility rents. Staff costs were the only expense item that grew from the previous year. Other expense items decreased or stayed at the same level. The number of employees remained at the level of the previous year and the increase of costs was based on salary raises in compliance with the general collective agreement.
GOOD INVESTMENT YEAR AND RESULT OF INVESTMENT ASSETS
The year 2019 was excellent for investments. The value of JYU’s investments increased as much as 16.5% in 2019. The average annual profit of 6.9% for the whole investment history (2011–2019) still exceeds the annual target of 5%. At the end of the year, the value of long-term investments was €136.1 million.
The realised result of investment activity was €11 million. In addition, the unrealised value increase of investment assets entered in the profit and loss account was €10.5 million. The division of realised and unrealised result in investment activities results from that the University changed the portfolio manager in December. The effect of unrealised value changes to the fluctuation of result from one year to another is significant. The financial period 2019 showed surplus of €15.6 million after the loss of 2018 (–€9.3 million).
The coronavirus epidemic that started in the turn of the year may have temporary operational and financial effects and has already significantly decreased the value of investment assets.
EDUCLUSTER RENEWED ITS OPERATING MODEL
The University group consists of the University, EduCluster Finland Ltd, Uniservices Ltd and the fund management company Unifund Jyväskylä Ltd.
The business of EduCluster Finland has grown since the start of the company and in 2019 the net sales grew 4.71% in comparison to 2018, but the company’s result showed deficit for the second year in a row. The negative result was mainly caused by agreement changes in the largest ongoing operations. It takes time to adjust operations to these changes and the result is expected to turn positive in 2020 when the company’s operative model has been renewed.
Unifund Jyväskylä is a financing company established by the University in 2015. It invests in University-based companies that fulfil Unifund’s investment criteria. The company works in cooperation with JYU’s Research and Innovation Services, the Jyväskylä Business and Innovation Factory and Venture Capital companies, aiming to improve the prerequisites of growth and funding for companies with roots in the University. In total seven new funding possibilities were assessed in more detail in the financial period. The company made decisions on additional investments in two companies that also had been funded earlier.
UniServices Ltd did not have business activity.
The University Board approved the group’s financial statement and annual report 2019 in its meeting of 16 March 2020. The University Collegium will decide on the confirmation of the financial statement and annual report in its meeting of 28 April 2020.
The financial statement and annual report of the University of Jyväskylä 2019 (LINK)
More information:
Keijo Hämäläinen, Rector
Päivi Seppä, Finance and Service Director
Jarkko Pirkkalainen, Development Director
