• Abstract and Figures
• Public Full-text

ANNUAL REPORT AND SUSTAINABILITY REPORT 2019 THE YEAR 2019 STRATEGY AND BUSINESS OPERATIONS THE SUSTAINABLE SATO GRI GOVERNANCE FINANCIAL STATEMENTS PRESIDENT AND CEO’S COMMENTS 6 4 2019 was a year of positive reforms for SATO. SATO’S 2019 IN BRIEF Our occupancy rate was at the second- highest level (98.1%) in SATO’s history. 39 SUSTAINABILITY PROGRAMME We released our sustainability programme for 2019–2022. The programme emphasises carbon-neutral cities and the well-being of residents and neighbourhoods. 52 OPEN, LAID-BACK AND EVOLVING CORPORATE CULTURE Our employees were extensively involved in building SATO’s values and corporate culture. Our values were confirmed as Human to human, Joy of succeeding together, and Be bold, aim high. 25 56 HOUSE EXPERTS ARE WE PROMOTE GOOD THERE FOR RESIDENTS NEIGHBOURLY RELATIONS The goal is a greater presence In addition to the neighbour mentor in residents’ daily lives and programme, we promoted neighbourly smoother maintenance relations in SATOhomes, for instance, operations. with joint events for neighbourhoods. Annual Report and Sustainability Report 2019 2 THE YEAR 2019 STRATEGY AND BUSINESS OPERATIONS THE SUSTAINABLE SATO GRI GOVERNANCE FINANCIAL STATEMENTS CONTENTS The year 2019 .....................................................................4 GRI ....................................................................................57 CEO's review ...................................................................................4 Reporting principles ......................................................................58 SATO in brief and key figures ..........................................................6 Management approach ................................................................59 Operating environment ...................................................................9 Sustainability concepts ..................................................................63 GRI index .......................................................................................65 Strategy and business operations .....................................14 Assurance report ...........................................................................70 Strategic goals .............................................................................. 15 Value creation and stakeholder collaboration ................................17 Governance ....................................................................... 71 SATOhomes .................................................................................. 21 Sustainability management .......................................................... 72 Housing business ..........................................................................22 Risk management .........................................................................73 Investments ...................................................................................26 Corporate governance statement ................................................. 75 Property development ..................................................................29 Remuneration statement ................................................................ 81 Construction and renovations ........................................................32 Board of Directors .........................................................................82 Financing .......................................................................................34 Corporate Management Group .....................................................84 The sustainable SATO ....................................................... 37 Financial statements ......................................................... 86 Sustainability highlights ................................................................38 Report of Board of Directors ........................................................87 Sustainability focus ........................................................................39 Consolidated financial statements, IFRS ......................................92 Sustainability goals and actions ....................................................42 Financial statements of the parent company, FAS ...................... 135 Operational sustainability ............................................................ 44 Auditor's report ........................................................................... 145 Environment ..................................................................................47 Key financial indicators ............................................................... 148 Personnel ......................................................................................52 Information for shareholders ...................................................... 150 Society ...........................................................................................56 Annual Report and Sustainability Report 2019 3 THE YEAR 2019 STRATEGY AND BUSINESS OPERATIONS THE SUSTAINABLE SATO GRI GOVERNANCE FINANCIAL STATEMENTS / CEO'S REVIEW CEO, SHARAM RAHI “Our operating environment is defined by strong urbanisation and growth in the popularity of rental housing. Nearly half of the permanently occupied apartments in the Helsinki metropolitan area, Turku and Tampere are already rental apartments.” Annual Report and Sustainability Report 2019 4 THE YEAR 2019 STRATEGY AND BUSINESS OPERATIONS THE SUSTAINABLE SATO GRI GOVERNANCE FINANCIAL STATEMENTS 2019 was a year of positive reforms for SATO. Our customer satisfac- are no longer bordered with load-bearing walls. This means that tion grew by 4 NPS points, and was 6. Our economic occupancy apartment distribution in the building can later be modified by rate approached our all-time best year, at 98.1 per cent. joining studios with two- or three-bedroom apartments if demand shifts to larger apartments. In the reporting year, we reached our strategic goal of improving our credit rating (BBB with stable outlook), which further increases During the reporting year, we launched the FlexHome concept, our ability to grow. which is a new model for part ownership that enables home ownership with a small initial capital outlay and a five-year During the reporting year, we gave sustainability work a central role part-ownership period. in our business, and we published our sustainability programme for years 2019–2022. The programme emphasises carbon-neutral At the end of the year, we shifted from a transaction-based valuation cities and the well-being of residents and neighbourhoods. method to a yield-based valuation method in the valuation of our investment properties. The change had a significant positive effect Our Customer First strategy moved forward, and we piloted on the fair value of our investment properties and our result for the SATO House Expert operating model, which gives us the the financial year. possibility to be even closer to our customers. SATO’s own House In the reporting Experts will take on some of the current tasks of SATO’s maintenance SATO had a total of 229 employees at the end of the year, year, we reached partners, in particular for work inside the buildings. Our goal is and employee satisfaction improved. In digital development, to have approximately 60 SATO House Experts working close to we unified our online services for our customers for even more our strategic goal our customers in the coming years. fluent service. of improving In 2019, we submitted city planning applications covering 36.750 I thank our customers, our personnel and our partners for our credit rating, floor square metres, and we reinforced our rental housing portfolio a successful year, and we are aiming for an even better year 2020. with investments valued at over EUR 185.9 million. During the I also welcome all ideas from our customers, my colleagues and which further reporting year, 321 new SATOhomes were completed, all of our partners that could help us make SATO an even better increases our which in the Helsinki metropolitan area. In the reporting year, company. We can always be better, for sure. Please send me we introduced a planning principle, according to which studios an email: [email protected]. Thank you! ability to grow. Annual Report and Sustainability Report 2019 5 THE YEAR 2019 STRATEGY AND BUSINESS OPERATIONS THE SUSTAINABLE SATO GRI GOVERNANCE FINANCIAL STATEMENTS SATO in brief SATO IN BRIEF One’s home, block and city are the foundation for well-being, and as one of the country’s A home is more leading housing providers, SATO’s goal is to than just walls. create thriving neighbourhoods where people enjoy a high level of well-being. We own, It is a feeling. build, buy and renovate urban homes to ensure safe, carefree and pleasant living for our customers. Our service promise to our customers is: A home the way you want it. We own approximately 26,000 SATOhomes in Finland’s largest growth centres and in St. Petersburg. As a major housing provider, we bear responsibility for urban development and the environmental impacts of housing. We invest in rental apartments that meet our residents’ needs and are near good transport connections, and we grow profitably. 12,000 229 OmaSATO users SATO employees In 2019, we continued to develop At the end of the year, OmaSATO in close cooperation with SATO had 229 employees. our customers. We participated in the Global Real Estate Sustainability Benchmark (GRESB) 50,000 26,000 for the fifth time andmaintained our four-star rating. Residents at the end of the year SATOhomes

Load more

  152

Copy Link