Sustainability Report 2020
2 | TIKKURIL A SUSTAINABILIT Y REPORT 2020 | Soucing sustainability | Operations sustainability | Products and services sustainability | |||
Contents
About this report | 3 |
Tikkurila and year 2020 in brief | 4 |
CEO's and sustainability team's interview | 7 |
Tikkurila's strategy | 10 |
Value creation model | 11 |
Operating environment | 12 |
Tikkurila's approach to sustainability | 13 |
Goals and commitments | 15 |
Main sustainability focus areas | 18 |
A Colourful Tomorrow - our sustainability programme | 20 |
Corporate sustainability management | 21 |
Principles guiding sustainability | 22 |
Stakeholder relations | 23 |
Sourcing sustainability | 24 |
Operations sustainability | 27 |
Products and services sustainability | 32 |
People sustainability | 37 |
Tikkurila's governance structure | 42 |
Annexes | 44 |
GRI content index | 52 |
Independent accountant's assurance report | 55 |
Tikkurila's sustainability report 2020 outlines the key aspects and impact of the company's responsibility actions.
This report is assured by an independent third party and the review includes the financial, social, and environmental responsibility indicators presented in this report.
3 | TIKKURIL A SUSTAINABILIT Y REPORT 2020 | ||||||
About this report
Tikkurila's Sustainability Report 2020 outlines the key aspects and impact of the company's responsibility actions and details the progress made by the 'A Colourful Tomorrow' programme within various areas of corporate responsibility. Tikkurila's corporate responsibility work is also described in the Annual Review and the Board of Directors' Report.
REPORT STRUCTURE
The primary stakeholders in this report are our customers, em- ployees, and owners. In the beginning of the report, Tikkurila as a company is briefly introduced and our value creation model and core messages are outlined. The report moves on to describe the goals, how they are integrated into our strategy, and the management model of responsibility work as well as the sustainability programme. Finally the report sums up the development of responsibility and presentation of the results achieved are cate- gorised using recognised key areas of sustainable development. These are grouped according to the governance model into the following sustainable development value chain areas: sustainability of sourcing, sustainability of own operations, and sustainable development of products. At the end of the report, the content is summarised in a GRI table along with the statement of the external assessor.
REPORTING PRINCIPLES AND PRACTICES
This report is not intended to be compliant with the complete Global Reporting Initiative (GRI) Standards, but it references selected GRI Standards. The report is based on published data and any GRI indicators mentioned can be found in the GRI content index. Adjustments to data are mentioned. The information is published in accordance with Finnish Accounting Standards, Accounting Standards Board's General Guidelines for the Presentation of Environmental Issues in Financial Statements, and the company's internal accounting standards.
The figures in the report cover either the entire Tikkurila Group or individual Strategic Business Units according to segment division
(SBU East and SBU West). Figures for joint ventures, subsidiaries, and similar organisations are reported in proportion to ownership and are included in the figures for the Group or the SBU. Inclusion of subsidiaries necessitates ownership exceeding 50 percent.
The Sustainability Report reflects the scope of the organisation. Data related to dissolved business units have not been removed from historical data, and acquired units are included from the acquisition date onwards unless otherwise stated. Environmental indicators cover production facilities and main distribution centres. Figures for subcontractors have not been included in the report. The reporting period is January 1 - December 31.
INDEPENDENT ASSURANCE OF THE REPORT
Tikkurila's Sustainability Report is assured by an independent third party. The Sustainability Report 2020 has been assured by Ernst & Young Oy. Their review includes the financial, social, and environmental responsibility indicators contained in this report. The independent assurance statement can be found at the end of the report (p. 55).
PUBLICATION OF THE REPORT
The annual report is published in Finnish and English as a pdf document on the company website (www.tikkurilagroup.com)under Sustainability. It is not published in print, though it has been optimised for printing. The 2020 Report was published in March 2021. Contact point for questions regarding the report: www.tikkurilagroup.com/sustainability.
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Tikkurila and year 2020 in brief
SwedenFinland
Production, distribution centre, sales
Distribution centre, sales
Training centre
Norway
Latvia
Russia
Estonia
TIKKURILA IN BRIEF
Tikkurila is the leading paint industry company in the Nordic countries, known for its high-quality surface treatment products and expert services. We offer consumers, pro- fessionals, and industry operators paint and coating products, as well as coating systems for interior and exterior surfaces. Our product and service range covers colours and tints, painting instructions, as well as expert and training services. Our goal is to provide the best customer and user experience on the market. With decades of experience, we are developing products and services that provide our customers with sustainable quality that lasts from year to year and in all seasons and weather.
Our main competitive advantages are our portfolio of strong brands, a service culture, sustainable solutions for protecting and decorating surfaces, and market lead- ership. Our largest markets are Finland, Sweden, Russia, Poland, and the Baltic countries. Our products are available in more than 40 countries around the world.
We have operations in 11 countries, and our 2,422 employees are committed to creating a sustainable future through meaningful surfaces. Tikkurila Oyj is a limited liabilities company headquartered in Vantaa Finland, Heidehofintie 2, P.O.Box 53 Vantaa, Finland. Tikkurila Oyj is listed on Nasdaq Helsinki.
Denmark
Customer segments %
NET SALES
582.0
EUR million (2019: 563.8), growth +3.2 percent
Lithuania
Poland
Kazakhstan
INDUSTRIAL 16%
Tikkurila's | |
products are | |
available in | |
CONSUMERS & | more than 40 |
PROFESSIONALS | countries. |
84% |
ADJUSTED OPERATING PROFIT
63.8
EUR million (2019: 46.4), growth +37.5 percent
China
PERSONNEL
2,422
(2019: 2,607)
5 | TIKKURIL A SUSTAINABILIT Y REPORT 2020 | ||||||
A LEADER IN DECORATIVE PAINTS
Finland | Sweden | Russia | Poland | Baltics |
1st | 1st | 1st | 4th | 1st |
KEY FIGURES
EUR million | 1-12/2020 | 1-12/2019 | Change % |
Revenue | 582.0 | 563.8 | +3.2 |
Excl. FX, divestments, and closures | - | +41.4 | +7.3 |
Operating result (EBIT) | 61.1 | 43.9 | +39.1 |
Operating result (EBIT) margin, % | 10.5 | 7.8 | +2.7-p |
Adjusted operating result | 63.8 | 46.4 | +37.5 |
Adjusted operating result margin, % | 11.0 | 8.2 | +2.7-p |
Profit before taxes | 54.9 | 44.2 | +24.2 |
Net result for the period | 43.1 | 33.2 | +29.6 |
Earnings per share (EPS), EUR | 0.98 | 0.75 | +29.6 |
Net interest-bearing liabilities (at period-end) | 12.1 | 78.4 | -84.5 |
Total equity (at period-end) | 181.4 | 171.9 | +5.5 |
Total assets (at period-end) | 441.6 | 437.1 | +1.0 |
Equity ratio, % | 41.1 | 39.3 | |
Gearing | 6.7 | 45.6 | |
ROCE, %, rolling | 24.0 | 15.4 | |
Cash flow after capital expenditure | 92.0 | 52.7 | +74.4 |
Source: In decorative paints Finland (VTY), Sweden (SVEFF) and Poland (GFK Poland) 2020. Russia (Chem Courier) 2019. Baltic countries 2020, Tikkurila's estimate.
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Disclaimer
Tikkurila Oyj published this content on 30 April 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 25 May 2021 10:48:07 UTC.