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Sitra’s annual report 2010: Focus on people and sustainability: cross-cutting themes for all of Sitra - diligent management of finances produces results

In 2010, Sitra further clarified its vision and strategic goals to better meet the challenges of the surrounding community. Owing to diligent, successful management of its finances, Sitra was able to fully continue its operations in 2010 despite the uncertainty in the Finnish economy. Consequently, the investments made in 2010 were the most extensive in Sitra's history.

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In 2010, Sitra further clarified its vision and strategic goals to better meet the challenges of the surrounding community. Owing to diligent, successful management of its finances, Sitra was able to fully continue its operations in 2010 despite the uncertainty in the Finnish economy. Consequently, the investments made in 2010 were the most extensive in Sitra’s history.

In Sitra’s vision, Finland will succeed as a global pioneer of sustainable well-being. Sitra’s role is to participate in building a successful Finland for tomorrow in cooperation with other developers of society.

“Due to the strengthening of such international megatrends as globalisation, climate change and the growing sustainability gap in the national economy caused by an ageing population, there is increasing demand for an independent visionary and implementer such as Sitra,” summarises Sitra’s President Mikko Kosonen.

Focus on people and sustainability themes to cover all operations

During the year under review, Sitra executed a strategy process and, as a result, Sitra further clarified its vision and strategic goals. The strategy and operating model, approved in 2009, has been considered as good with respect to its content, so this time the focus was mainly on clarifications. Sitra’s operating model and social role were also further clarified and specified.

The following were highlighted as the organisation’s strategic objectives: Sitra renews thinking on good life; Sitra seeks operating models which renew society and have people as the starting point; and Sitra boosts business aimed at creating sustainable well-being. This means that a focus on people and sustainability were the cross-cutting themes for all of Sitra’s operations in 2010.

In Sitra’s programme operations, the Energy Programme, the Municipal Programme and the Growth Programme for the Mechanical Industry continued as planned in 2010. New programmes launched in 2010 included the Landmarks Programme as well as the Public Leadership and Management Programme, which seeks to develop the management of public administration. In addition to the aforementioned programmes, the themes that are significant for Finland’s future were addressed by two extensive development programmes.

Diligent management of finances as solid foundation for operations

Sitra mainly finances its operations from the yield from its endowment capital, but also from operative financing activities. Owing to diligent, successful management of finances, Sitra was able to fully continue its operations in 2010 despite the uncertainty in the Finnish economy. The investments made in 2010 were the most extensive in Sitra’s history.

During the year, Sitra exited 10 companies in full and one partially. New corporate investments were allocated to the strategic focus areas of the programmes. During the year, Sitra made an initial investment in five companies in total, and at year end, there were 44 companies in Sitra’s portfolio.

The market value of Sitra’s endowment capital at the end of 2010 was EUR 697 million. The market value development of the endowment capital follows the developments in the international financial markets. The invested assets yielded +9.3% in 2010, whereas the yield the previous year was 14.6%.

Further information

Mikko Kosonen, President, tel. +358 9 6189 9289, firstname.lastname@sitra.fi
Teppo Turkki, Director, Communications, tel. +358 9 6189 9497, firstname.lastname@sitra.fi

Publication information

Annual report and financial statements for 2010 (PDF) »

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