Board Report 2011: Sitra set the objective at becoming a pioneer of sustainable well-being

“The renewal was necessary because Sitra’s operational environment has become increasingly difficult to predict. The new shared vision and strategy are aimed at increased effectiveness and sensitivity of operations”, explains Sitra’s President Mikko Kosonen.

To ensure the strategic agility of Sitra’s operations, a new project organisation with a variety of sustainable well-being themes was designed to be adopted in 2012. The programme-oriented operational model, active since 2004, will be terminated by the end of 2012. In 2012, the primary projects of the various programmes will be carried out within the new themes.

In 2011, the Municipal Programme, Public Leadership and Management Programme, Energy Programme, Landmarks Programme and the Growth Programme for the Mechanical Industry continued to operate according to plan. For the Growth Programme for the Mechanical Industry, this was the final year. Investment operations and the development of business operations continued in 2011 as well.

Sitra mainly finances its operations with the yield from its endowment capital but also from operative financing activities. Due to the uncertain market situation 2011 was a year of challenges for Sitra’s endowment capital investments, and investments had to be adjusted according to the new financial position. On the other hand, the rapid changes in the operational environment emphasised Sitra’s role in foresight and practical operations.

The market value of Sitra’s endowment capital at the end of 2011 was €627 million. The uncertain market situation affected the yield of invested assets, resulting in losses of -8.0%, whereas the yield in the previous year was +9.3%.  During the year, Sitra fully withdrew from 16 companies and partly from one company. New corporate investments were targeted at the strategic programme areas.  Initial investments were made in three companies. At the end of the year, Sitra’s portfolio contained 36 companies.

More information 

Juha Kostiainen, Director, Communications and Public Affairs

Tel. +358 (9) 6189 9473, juha.kostiainen@sitra.fi

Sitra’s 2011 Board report and financial statements (PDF)

You may also order the report from julkaisut@sitra.fi.