DOCSLIB.ORG

Outokumpu Copper

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Outokumpu Copper Annual Report 2004 Annual Report OUTOKUMPU ANNUAL REPORT 2004 Contents outokumpu 2004 2 Vision and strategic direction 4 Outokumpu business operations and market position 6 Statement by CEO Rantanen 8 Interview with Juusela and Virrankoski 10 Management discussion on the fi nancial results and strategy 16 Risk management 19 Market review business operations 24 Outokumpu Stainless 30 Outokumpu Copper 34 Outokumpu Technology 37 Other operations 38 Human resources 41 Environment, health and safety fi nancial statements 44 Contents of the fi nancial statements 45 Review by the Board of Directors 54 Auditor’s report 55 Consolidated fi nancial statements, IFRS 96 Key fi nancial fi gures 102 Parent company fi nancial statements, FAS investor information 108 Outokumpu Oyj’s shares and shareholders 115 Outokumpu’s corporate governance 122 Board of Directors 124 Group Executive Committee 127 Annual General Meeting and Investor Relations Consolidated fi nancial statements presented in this annual report have been prepared in accordance with International Financial Reporting Standards (IFRS). Outokumpu started to apply IFRS in its third-quarter interim report, which was published on October 26, 2004. Prior to IFRS, Outokumpu’s fi nancial reporting was based on Finnish Accounting Standards (FAS). Outokumpu’s date of transition to IFRS was January 1, 2003. Accounting principles applied in the IFRS fi nancial statements are presented on pages 60–64. In graphs and tables, data for the years 2003–2004 are presented according to IFRS and for prior years according to FAS. All fi gures in the annual report have been rounded and consequently the sum of individual fi gures can deviate from the presented sum fi gure. Vision and strategic direction We are aiming to be the undisputed number one in stainless steel. Vision and strategic objectives Outokumpu is an international stainless steel and technology company. Outo- kumpu’s vision is to be the undisputed number one in stainless steel, with suc- cess based on operational excellence. To this end, Outokumpu has defi ned two key strategic objectives: • Value creation through building superior production and distribution capa- bilities in all major markets around the world • Value realization through commercial and production excellence Outokumpu has started work to map out the path toward realizing this vision. Today, our priority is to deliver on the promises we made during the previous strategic phase of growth and transformation in 2000–2004. At the same time, we are setting ambitious new targets for the coming fi ve-year period to make sure we emerge as the number one stainless steel producer in Europe. Outokumpu’s future success will be achieved by building and reinforcing operational excellence, both in the commercial and production arena. This op- erational excellence will be leveraged outside Europe to achieve global leader- ship: becoming the undisputed number one in stainless steel over the next ten years. In the light of Outokumpu's target of continuing to grow faster than the market, the operational excellence efforts will be supported by further develop- ment of the Group's current asset base, value chain and product offering. 2 Being the undisputed number one in stainless means: • Most profi table • Best in customer relationship management • Most effi cient production operations • Most attractive employer Financial objectives Outokumpu’s Outokumpu’s overall fi nancial objective is to gener- ate maximum sustainable economic value added. key strengths The specifi c group-level fi nancial objectives in line with the vision of becoming the number one in Produces stainless steel, the fastest-growing stainless steel in terms of growth, profi tability and segment of the metals market fi nancial strength are: A major investment program for future earnings • To continue growing faster than the market growth almost completed • A return on capital employed of over 13% and always the best among peers Added value through knowledge in metals • Gearing below 75% technology and innovations Dividend policy The Board of Directors has established a dividend policy according to which the dividend payout ratio over a business cycle should be at least one-third of the company’s net profi t for the period. In its an- nual dividend proposal, the Board will, in addition to fi nancial results, take into consideration the Group’s investment and development needs. Outokumpu 2004 3 Outokumpu business operations and market position utokumpu is an international stainless steel and technology compa- ny. Customers in a wide range of industries use our metal products, technologies and services worldwide. We are dedicated to helping our customers gain competitive advantage. We call this promise the OOutokumpu factor. Outokumpu operates in some 40 countries and employs 19 500 people. In 2004, the Group’s sales amounted to EUR 7.1 billion, of which 95% was generated out- side Finland. In 2004, Outokumpu’s operations were organized into three strategic entities: Stainless, Copper and Technology. In August 2004, Outokumpu announced that its future strategic direction is based on leadership in stainless steel, and that various options to exit the fabricated copper products business will be explored. The divestment process of Outokumpu Copper is underway. Stainless Main products and customers Raw materials and energy Main products are cold and hot rolled stainless steel coil, sheet Stainless steel and carbon steel scrap, ferrochrome and nickel are and plate. Other products include precision strip, hot rolled the main raw materials. Outokumpu operates its own chrome plate, long products as well as tubes and fi ttings. These products mine at Kemi and a ferrochrome smelter at Tornio, both in Fin- are mainly used in process industries, such as pulp, paper and land. Stainless steel and carbon steel scrap, part of ferrochrome chemicals and the offshore oil industry, catering and house- and nickel are purchased on the open market. holds, vehicle manufacture and the building and construction Electric energy accounts for some 4% of total costs. The industry. Group’s single largest consumer of electric energy is the Tornio ferrochrome smelter. Market position End-uses • World market size 24 million tonnes or some EUR 42 bil- Others 5% lion. During the last ten years, consumption has grown by Building and almost 7% per annum construction 10% Process industry 29% • One of the world’s largest and most cost-effi cient producers Welded tubes 15% • Slab capacity will increase to 2.75 million tonnes and the capacity for cold rolled material and white hot strip to Transportation 16% Catering and households 25% 1.9 million tonnes when the major investment at Tornio comes fully on stream Source: CRU. Includes cold and hot rolled products in Western world. • 25% share of the stainless steel coil market in Europe and 8% worldwide Major producers • Main markets are Europe (70% of sales), Asia (17%) as well as North and South America (11%) Estimated slab capacity Slabs Slabs Million tonnes 2004 2006 Arcelor, Luxemburg 3.15 2.82 Production facilities ThyssenKrupp, Germany 2.88 2.88 Main production facilities are located in Finland, Sweden, Brit- Outokumpu, Finland 2.60 2.75 ain and the US. Acerinox, Spain 2.33 2.43 POSCO, South Korea 2.00 2.00 Source: CRU and Outokumpu. 4 Copper Main products and customers Raw materials and energy Main products include ACR tubes, heat transfer coils and com- Cathode copper, copper scrap and alloy elements, such as zinc ponents used in air-conditioning applications, radiator strips and tin are used as raw materials. Raw materials are purchased used in the automotive industry, sanitary tubes and roofi ng and on the open market. architectural products used in the building and construction in- Electric energy accounts for some 2% of total costs. dustry, copper tubes, strips and connectors used in the electron- ics and communication industry, alloy wire and superconducting Outokumpu customer groups wire used in the electrical industry as well as welding electrodes. In addition, brass rod products are manufactured. Industrial machinery Others 4% and equipment 8% Electronics and Market position communication 11% Heat transfer 43% • World market size 20 million tonnes, of which the market served by Outokumpu 6 million tonnes or EUR 20 billion. Electrical 13% Demand growth 2–3% per annum; for special products Building and 5–10% construction 21% • The only global manufacturer of higher value-added pro- ducts with production in the US, Europe and Asia Major producers • Delivery capacity 600 000 tonnes, over 10% share of the Estimated delivery capacity selected markets 1 000 tonnes • Main markets are Europe (44% of sales), North and South SMI (KME), Italy 800 America (38%) as well as Asia (17%) Outokumpu, Finland 600 Wieland-Werke, Germany 500 Production facilities Poongsan, South Korea 450 Production facilities are located in the Netherlands, Belgium, Olin, the US 370 Britain, Spain, Italy, Austria, China, Malaysia, Mexico, France, Mueller Industries, the US 320 Sweden, Finland, Thailand, the Czech Republic and the US. Source: Outokumpu. Technology Main products and customers Operations Outokumpu Technology designs and delivers plants, processes Competence centers in Finland, Germany, Sweden, North and and equipment tailored for each customer’s needs, and provides South America, Australia as well as Russia. Sales and service engineering, project and support services globally. Customers are centers in altogether 16 countries. producers of metals and industrial minerals as well as companies in chemical and other process industries. Market position • Solid experience in the whole production chain of metals as a strength • Market leader in many technologies • Extensive R&D resources • Competitors are either engineering companies or equipment manufacturers • Main markets are Asia (36% of sales), North and South America (20%), Europe (18%) as well as Australia and Oceania (17%) Outokumpu 2004 5 Statement by CEO Rantanen or Outokumpu, the year 2004 was signifi cant in ing the largest in volume but rather being the best in the indus- several ways.
Load more

Recommended publications
  • Economic Co-Operation Across the Finnish-Russian Border - Factors of Sluggish Development and Success of Enterprises
    International Institute for Applied Systems Analysis Schlossplatz 1 • A-2361 Laxenburg • Austria Telephone: (+43 2236) 807 342 • Fax: (+43 2236) 71313 E-mail: [email protected] • Internet: www.iiasa.ac.at Interim Report IR-00-071/December Economic co-operation across the Finnish-Russian border - factors of sluggish development and success of enterprises Vesa Rautio ([email protected]) Markku Tykkyläinen ([email protected]) Approved by János Gács ([email protected]) Project Leader, Economic Transition and Integration December 2000 Interim Reports on work of the International Institute for Applied Systems Analysis receive only limited review. Views or opinions expressed herein do not necessarily represent those of the Institute, its National Member Organizations, or other organizations supporting the work. Contents 1. Introduction ...............................................................................................................1 1.1 Transition and border ............................................................................................1 1.2 Aims of this paper .................................................................................................2 1.3 Nikel and Zapolyarnyj and the Finnish-Russian border........................................3 1.4 Research methods..................................................................................................5 1.5 Theoretical background.........................................................................................6 2. Changing
    [Show full text]
  • The Mineral Industry of Finland in 2000
    THE MINERAL INDUSTRY OF FINLAND By Chin S. Kuo The mineral resources of Finland include some 50 metals and Rautaruukki started commercial production at its 400,000-t/yr 30 industrial minerals, as well as gems and soapstone. The galvanizing line at Hameenlinna. The $590 million plant came Government encouraged foreign investment in mineral on-stream in April and increased the company’s galvanizing exploration and exploitation. Foreign and domestic companies capacity to 900,000 t/yr. Rautaruukki also spent $80 million in were active in exploring for base metals, diamond, and gold. raising color-coating capacity at Hameenlinna from 100,000 to Finland was a world leader in the technology of underground 150,000 t/yr (Metal Bulletin, 2000e). mining, mineral processing, and metallurgy. The country OM Group, Inc. (OMG), of the United States purchased imported metal concentrates from various sources to feed its Outokumpu’s 50,000-t/yr Harjavalta nickel refinery—including smelters and was a net importer of these. nickel matte leaching, solvent extraction, electrowinning, and Finland’s rapid economic growth with a 6% increase in gross hydrogen reduction facilities—for $185 million. OMG has domestic product in 2000 was fueled by an export boom, which production facilities at Kokkola processing part of the nickel grew by more than 9%. The country’s forestry sector was at and all of the cobalt produced at Harjavalta. The Harjavalta full capacity and the electronics sector was continuing to nickel refinery would continue to supply nickel to Outokumpu’s capture new markets abroad. Domestic demand for products Tornio stainless steel operation.
    [Show full text]
  • Outokumpu Annual Report 2018 | Annual Review 2 / 13 Annual Review 2018
    Annual report 2018 working towards a world that lasts forever Contents Annual review Sustainability review Review by the Board Governance of Directors and Working towards a world that lasts Sustainability at Outokumpu .............. 2 Corporate Governance statement ........ 2 forever ..................................... 4 Financial statements Materiality ................................. 3 Key risks ................................... 17 Key figures 2018 .......................... 5 Sustainable performance in 2018 ........ 4 REVIEW BY THE BOARD OF DIRECTORS .. 2 Remuneration .............................. 21 CEO’s review ............................... 6 Sustainability highlights in 2018 ......... 5 Group key figures .......................... 10 Shares and shareholders .................. 24 Our year 2018 ............................ 7 Safe and healthy working environment ... 6 Reconciliation of key financial figures ..... 11 Information for shareholders .............. 26 Vision and strategy ........................ 8 Improving organizational health and Share-related key figures .................. 13 Stainless steel market .................... 10 people development ....................... 8 Definitions of share-related key figures ... 14 Research and development ............... 13 Responsibility throughout the FINANCIAL STATEMENTS .................. 15 supply chain ............................... 11 Consolidated statement of income ....... 16 Energy efficiency ........................... 13 Consolidated statement of Environmental impacts
    [Show full text]
  • Investor Presentation August 2020 Table of Contents
    Shaping the future for stainless steel Investor presentation August 2020 Table of contents 1. Outokumpu in brief (slide 3) 2. Business areas (slide 18) 3. Markets (slide 25) 4. Sustainability (slide 33) 5. Ferrochrome (slide 44) 6. R&D (slide 48) 7. Latest financials Q2 2020 (slide 53) 8. Appendix (slide 68) 2 | August 12, 2020 Outokumpu in brief Outokumpu – global stainless steel producer Sustainability Stainless Adjusted leader with Operations in Listed in Net sales steel Personnel EBITDA Nasdaq deliveries 90% >30 €6.4bn €263m 10,390 OMX 2.2mt recycled countries Helsinki content Sales by business area* Sales by destination* Sales by customer segment* Other Other operations countries Consumer goods Asia & Ferrochrome 2% 6% 5% 10% Oceania 7% North America Automotive 12% 22% Long Distributors Products 8% 46% Architecture, building Other Europe & construction 3% United 21% Kingdom 5% End-customers Chemical, 54% petrochemical and energy 1% Germany Italy 9% Heavy industries 12% Americas 21% 24% Metal processing & Europe 63% Other 5% Sweden 3% Finland 4% tubes 11% 4 | August 12, 2020 *Outokumpu in 2019 Customers Shareholders Vision 2020 Employees Best value creator in stainless steel Time bound: sense of urgency by 2020 through customer orientation and efficiency Back to basics 5 | August 12, 2020 We have improved our performance in many fronts Cultural shift Americas’ financial Commercial excellence – from silos into one and operational enhanced mix and company with step change margins uniform processes and ways of working Improved cost competitiveness
    [Show full text]
  • Evaluating Environmental Performance of Three Finnish Companies
    Cristian Gummerus EVALUATING ENVIRONMENTAL PERFORMANCE OF THREE FINNISH COMPANIES Thesis CENTRIA-UNIVERSITY OF APPLIED SCIENCES Degree Programme of Business Management February 2015 TABLE OF CONTENTS ABSTRACT 1 INTRODUCTION 1 2 WHAT IS GREEN BUSINESS 2 2.1 Drivers of green business 4 2.2 Environmental responsibility and eco-efficiency 6 3 BENEFITS OF GREEN BUSINESS 7 3.1 Becoming a green organization 7 3.2 The process of change 8 3.3 Green product lifecycle and eco-design 9 3.4 Cleantech 10 4 MEASUREMENT OF PERFORMANCE 12 5 ENVIRONMENTAL MANAGEMENT 14 6 TOIMINTOLASKENNAN TOTEUTTAMINEN PILVENTUVAN YKSIKÖSSÄ 32 5.1 Environmental strategy as a vanguard 14 5.2 Environmental policy and EMS 15 5.3 ISO 14001 and purpose of EMSs’ 16 5.4 Environmental rating 17 6 ANALYSIS OF ENVIRONMENTAL PERFORMANCE AMONG THREE FINNISH LISTED COMPANIES 20 6.1 Research methods 20 6.2 Research goals and target companies 21 6.3 Performance analysis 22 6.3.1 Kesko Oyj 22 6.3.2 KONE Oyj 25 6.3.3 Outokumpu Oyj 28 6.3.4 Summary table 33 7 CONCLUSIONS 34 LIST OF REFERENCE 35 GRAPHS GRAPH 1. Eight lean wastes 3 GRAPH 2. Eight green wastes 4 GRAPH 3. EU 2020 -directive 5 GRAPH 4. Ecodesign part of product development process 10 GRAPH 5. Rise of Cleantech in the world 11 GRAPH 6. Revenue development of Kesko 24 GRAPH 7. Carbon footprint caused by logistics and vehicles 26 GRAPH 8. Revenue development of KONE 28 GRAPH 9. Debt-to-equity ratio of Outokumpu 31 TABLES TABLE 1.
    [Show full text]
  • Nokia Outokumpu Coupon
    14 January 2011 Nokia Outokumpu Coupon The outlook for Nokia and Outokumpu, shares recommended by Nordea, i s bright. The economic cycle is gradually shifting towards slower, sustainable growth and the equity markets are stabilising. Nokia Outokumpu Coupon is an investment with a maturity of at most approximately three years. It will give a better yield than a direct equity investment if the share prices of Nokia and Outokumpu rise moderately. The investment is redeemed before maturity if the values of both shares are at least at their initial levels on the annual valuation date. The investment has no capital protection, which means the investor may lose the invested capital partially or in full. The investment in brief The outlook for the shares of Nokia and • A bond issued by Nordea Bank Finland Plc. Its Outokumpu is good. With its strong brand, Nokia maturity is at most approximately three years is expected to profit from the growth of the mobile and its yield is based on the performance of phone market, and Outokumpu, one of the world's the reference assets, the shares of Nokia most competitive stainless steel producers, is Corporation and Outokumpu Plc. supported by the demand for stainless steel, • The coupon is approximately 17%* which is picking up. After the brisk economic • Subscription period 17 January–25 February recovery in the early 2010, the cycle is now 2011 shifting towards sustainable but slower growth. • Subscription price variable, about 100% The equity market, too, has moved sideways after • Minimum subscription EUR 10,000 a strong rise. • The investment will be redeemed before maturity if the values of both shares are at Nokia Outokumpu Coupon suits investors who least their initial levels on the annual valuation have a neutral or slightly positive view of the date.
    [Show full text]
  • Mining Alert
    www.rmg.se SOCIO-ECONOMIC IMPACTS of the FINNISH EXTRACTIVE INDUSTRIES Report for KTY Raw Materials Group January 2002 SOCIO-ECONOMIC IMPACT STUDY – FINNISH EXTRACTIVE INDUSTRIES LIST OF CONTENTS List of tables i List of figures ii List of maps iii Abbreviations iv Introduction 1 Socio-economic study? Purpose, How and when 1 Background 3 Mining sector in dire straits Mining industry overview 5 Introduction 5 Ores for national development 6 A cluster growing 7 International comparison 8 Economic overview 9 Extractive industries 9 Resource based cluster 12 Statistics 15 Sector summaries 20 Aggregates 20 Metals 25 Dimensional stone 30 Industrial minerals 35 Equipment manufacturers and services 40 Topical summaries 45 Employment, salaries, staff 45 Health & safety 47 RTD, training, education 49 Environment 51 Government policy 55 Regional importance 57 Conclusions/Proposals 59 Sources 66 Annexes 69 Questionnaire 69 Summary of answers to questionnaire 71 People interviewed 74 Illustrations 75 Maps 79 i LIST OF TABLES Page 1. Production and consumption of metals in Finland 7 2. Production of metals and industrial minerals in Finland in 1999 8 3. Extractive industries, economic facts 11 4. Key indicators, downstream industries 1995-2000 13 5. Key indicators, resource based cluster 1999 14 6. Consumer price index 16 7. Key indicators, aggregates 17 8. Key indicators, industrial minerals 17 9. Key indicators, metal mining 18 10. Key indicators, dimensional stone 18 11. Key indicators, equipment manufacturers 19 12. Finnish aggregates industry key figures for selected companies 21 13. Finnish aggregate industry key figures 21 14. Exploration expenditure in Finland 1996-2000 25 15.
    [Show full text]
  • Outokumpu Annual Report 2019
    Annual report 2019 Review by the Board Sustainability of Directors and Annual review review Financial statements Governance In brief ..................................... 4 Sustainability at Outokumpu .............. 2 REVIEW BY THE BOARD OF DIRECTORS .. 2 Corporate Governance Statement ........ 2 Key figures 2019 .......................... 5 Sustainable performance in 2019 ........ 3 Group key figures .......................... 11 Key risks ................................... 17 CEO’s review ............................... 6 Safety is our highest priority .............. 4 Alternative performance measures ........ 12 Remuneration .............................. 23 Vision and strategy ........................ 8 Organizational health continues to Share-related key figures .................. 15 Shares and shareholders .................. 26 improve .................................... 6 Stainless steel market .................... 10 FINANCIAL STATEMENTS .................. 17 Information for shareholders .............. 28 Sustainability in the supply chain ......... 10 Customers and expertise .................. 12 Consolidated statement of income ....... 18 Mitigating climate change with Consolidated statement of stainless steel ............................. 12 comprehensive income .................... 18 Focus on energy efficiency improvements 14 Consolidated statement of Operating at the heart of the financial position ........................... 19 circular economy .......................... 16 Consolidated statement of cash flows .... 20
    [Show full text]
  • Outokumpu Annual Report 2001
    Annual Report 2001 2001 OUTOKUMPU OYJ Corporate Management Riihitontuntie 7 B, P.O. Box 140 FIN-02201 ESPOO, Finland Tel. +358 9 4211, Fax +358 9 421 3888 E-mail: [email protected] www.outokumpu.com today today 1 Contents 2 Vision, strategy and values outokumpu 2001 4 Business operations 6 Chief Executive’s statement 8 Management analysis on the fi nancial results 16 Outokumpu market position 18 Market review 24 Copper Products business operations 28 Metallurgy 32 Stainless Steel 34 Other operations 36 Human resources 39 Environment, health and safety 42 Corporate review of the year fi nancial statements 51 Auditor’s report 52 Consolidated income statement 53 Consolidated statement of cash fl ows 54 Consolidated balance sheet 56 Key fi nancial fi gures 60 Notes to the consolidated fi nancial statements 81 Parent Company fi nancial statements 85 Outokumpu Oyj’s shares and shareholders 91 Outokumpu Oyj’s corporate governance 94 Board of Directors 96 Group Executive Committee 97 Business unit management 98 Analysts covering Outokumpu investor information 99 Annual General Meeting and dividend 99 Annual report and interim reports 100 Contact information www.outokumpu.com OUTOKUMPU 2001 1 2 Vision, strategy and values Strategy Our core competence is in metals, ers that increase the value of our The basic elements of Outokumpu’s metals production and fabrication, company and fi t our strategy. strategy are growth and transforma- and related customer applications. – We will continue our efforts to tion. Our key customers operate in the increase the profi tability of Copper Formed in January 2001, Avesta- fi elds of heat transfer, communication Products.
    [Show full text]
  • Proposal to Reappoint the Following Members to the Outokumpu Board of Directors
    Proposal to reappoint the following members to the Outokumpu Board of Directors Iman Hill, b. 1963, British citizen, B.Sc. (Biochemistry), M.Sc. (Computer Science) Outokumpu Board member 2012– Member of the Audit Committee General Manager – Technical and Operational Services Directorate: Sasol Petroleum International 2012– Strategic Adviser: Aurelian Oil and Gas PLC 2012 Senior Vice President Group Well Risk: BG Group PLC 2010–2011 Senior Vice President Developments and Operations: BG Group PLC 2009–2010 Senior Vice President BG Brasil: BG Group PLC 2008–2009 Vice President & General Manager Developments: BG Group PLC 2005–2008 Managing Director: Shell Egypt and Chairwoman of Shell Companies in Egypt 2004–2005 Senior Adviser (Africa) to the Committee of Managing Directors: Shell International 2002–2004 General Manager Field Developments and Regional Exploration Africa and South America: Shell International 2001–2002 Business Interface Manager, Middle East: Shell International 1998–2001 Principal Reservoir Engineer Malaysia: Shell International 1997–1998 Chief Petroleum Engineer: Monument Oil and Gas 1996–1997 Independent of the company and its significant shareholders Guido Kerkhoff, b. 1967, German citizen M.Sc. (Business Administration) Outokumpu Board member 12/2012– Member of the Remuneration Committee Chief Financial Officer and Member of the Executive Board: ThyssenKrupp AG 2011– Member of the Board of Management: Deutsche Telekom AG 2009–2011 Head of Group Accounting and Controlling: Deutsche Telekom AG 2006–2009 Senior Vice President
    [Show full text]
  • Kilpailun Yhteenvetoraportti 2019
    VASTUULLISUUS- RAPORTOINTIKILPAILU 2019 Yhteenvetoraportti Sisällys Yleistä kilpailusta . 3 Kilpailusarjat ja arviointikriteerit . 5 Palkitut raportit. 8 Kilpailutuomariston valinta . .9-13 Sidosryhmän suosikki . 14 Vastuullisuusraportointikilpailun voittajat 1996–2019 . 16 - 2 - Yleistä kilpailusta Vastuullisuusraportointikilpailu on suomalaisyritysten vastuullisuusraportointia koskeva arviointiprosessi, joka on järjestetty Suomessa vuodesta 1996 alkaen. Kilpailun tavoitteena on edistää suomalaisyritysten vastuullisuusraportoinnin informatiivisuutta ja hyödyllisyyttä sidosryhmille sekä palkita vastuullisuusraportointiin panostaneita. Lisäksi kilpailulla pyritään antamaan muille, myös pienemmille yrityksille, kannustusta ja esimerkkejä hyvistä käytännöistä. Kilpailussa menestyminen luo yrityksille positiivista mainearvoa, ja ennen kaikkea kilpailu pyrkii kannustamaan yrityksiä kehittämään vastuullisuustoimiaan ylipäätään. Kilpailu on avoin ja maksuton kaikille organisaatioille. Kilpailussa arvioinnin kohteena on organisaation vastuullisuusraportointi, joka heijastaa sekä edellisen vuoden tapahtumia ja saavutuksia että tulevaisuuden suuntaviivoja ja tavoitteita. Kilpailussa ei kuitenkaan arvioida yrityksen suoriutumista esimerkiksi taloudellisten, sosiaalisten tai ympäristövastuun näkökulmasta. Kilpailun järjestää eri yhteiskunnallisia toimijoita edustava järjestäjäryhmä, joka määrittelee vuosittain kilpailun tavoitteet ja arviointikriteerit. Vuoden 2019 kilpailun järjestäjäryhmä koostui kymmenen organisaation edustajista: • Aalto-yliopiston
    [Show full text]
  • Outokumpu Annual Report 2017 | Annual Review 2 / 12 Annual Review 2017
    a world that lasts forever Annual report 2017 Contents Annual review Sustainability review Review by the Board Governance of Directors and Key figures 2017 ................. 4 Sustainability at Outokumpu ......... 2 Financial statements Corporate Governance statement . 2 Our year 2017 ................... 5 Sustainability highlights 2017 ........ 4 Key risks ....................... 17 Global leader in stainless steel ....... 6 Safe and healthy working environment .. 5 REVIEW BY THE BOARD OF DIRECTORS . 2 Remuneration .................... 22 CEO’s review .................... 7 A year of learning and boosting KEY FINANCIAL FIGURES ............ 12 Shares and shareholders ............ 26 organizational health ............... 7 Outokumpu strategy – becoming the Group key figures .................. 12 Information for shareholders ......... 28 best value creator 8 Responsible sourcing, ................. Reconciliation of key financial figures ... 13 responsible supplier 10 Stainless steel market 10 ............... .............. Share-related key figures ............ 15 Resource efficiency and the circular economy ....................... 12 Definitions of share-related key figures .. 16 Energy efficiency .................. 14 FINANCIAL STATEMENTS ............ 17 This Annual report Environmental impacts to a minimum .. 16 Consolidated statement of income ..... 18 combines Outokumpu’s Protecting the climate ............. 18 Consolidated statement of comprehensive income .............. 18 sustainability and financial Environmental compliance ..........
    [Show full text]