President Stieglitz: "Thanks to timely investments in digitization and our entrepreneurial spirit, we manage the Coronavirus successfully."
With revenue growth and a healthy profit, Frankfurt School of Finance & Management has been able to publish positive annual financial statements for 2019. For the first time in its history, operating revenues exceeded €80 million - an increase of almost six per cent compared to 2018. Annual profits were €537,000.
In 2019, Frankfurt School generated around 37 per cent of its revenue from its full-time and part-time degree programmes; revenue from its academic programmes rose by seven per cent. The International Advisory Services unit, which carries out consultancy and educational projects in developing and emerging countries, increased its revenue by 17.6 per cent over the previous year. Revenues in training and education remained stable.
"The 2019 annual results show we have set the right course and are growing. The fact that we are doing so well is the result of a team effort, a success for all our employees", says Professor Stieglitz, President of Frankfurt School: "Thanks to timely investments in digitisation, we are making good progress through the Coronavirus crisis. It is our entrepreneurial spirit that characterises how Frankfurt School tackles challenges. In that respect, this challenge is no different."
Success in domestic and international rankings
Professor Stieglitz highlights Frankfurt School’s good results in various renowned national and international rankings in recent weeks. "The great results reflect the fact that our graduates receive first-class training and have excellent prospects in the job market," Stieglitz continues. "In summary: We are very well positioned"
- In March, Manager Magazin ranked Frankfurt School as the best university for auditors. It was the only university to receive an "excellent" rating.
- In the annual university ranking, published in April by the German-language business magazine Wirtschaftswoche, Frankfurt School occupied fifth in the business studies ranking. FS has risen by four places from 2019, making it the best private business university in Germany.
- Frankfurt School also improved in the latest ranking from the CHE (Centre for Higher Education Development): Its Bachelor programmes are in the top tier in eleven of twelve criteria. The CHE ranking was published in May in the popular ZEIT Hochschulanzeiger.
- The annual Executive Education Ranking from the Financial Times (FT) was also published in May. Frankfurt School's open enrolment programmes reached 50th place, making Frankfurt School one of the world's top 50 universities and colleges for the first time.
New programmes meet with a positive response
In 2018 and 2019, Frankfurt School's investments focused on digitisation and implementing key projects for the future. This included academic degree programmes and further education courses related to artificial intelligence and digitisation such as the Master in Applied Data Science and the Bachelor in Computational Business Analytics (starting in winter semester 20/21).
The Master in Corporate Performance and Restructuring, which Frankfurt School first launched in autumn 2019, teaches skills and methods that managers urgently need in times of fundamental change, such as geopolitical disruption or crises like the Coronavirus pandemic. New certificate courses such as Certified Blockchain Expert or Certified Expert in Data Science and Artificial Intelligence are also meeting with an excellent response from the market. In addition, Frankfurt School has expanded its infrastructure, for example by setting up a new AI lab.
President Stieglitz emphasised that, thanks to the targeted investments, Frankfurt School is ideally equipped to tackle the challenges associated with the outbreak of the Coronavirus pandemic with determination and to master them successfully: "When it became apparent what challenges could arise with Coronavirus, we prepared ourselves immediately: We expanded our infrastructure, upgraded lecture halls, acquired additional software and database licenses as well as hardware and video technology. When the lockdown came in March, we were ready and offered all educational programmes and exams online. Our Career Services also transferred their offers into online formats overnight. We now organise online recruiting events for companies," said Professor Stieglitz. He is very proud of the fact that Frankfurt School has succeeded in informing all students and participants in further education programmes in good time and in offering them options. "Frankfurt School's customer orientation has been particularly evident during the crisis: participants can choose whether they want to complete their programmes online this spring or later in face-to-face or online form".
Until the end of May, all exam-relevant courses in Academic Programmes will be offered exclusively online. After that, and in compliance with all hygienic requirements and distance rules, there will be hybrid formats in which students can choose to participate either from campus or online.
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