We take care of the financial sustainability of our operations and bear responsibility for our financial impact on our stakeholders and society.
For SATO, financial responsibility means maintaining a good financial standing, as well as the effective use of resources, and the stable and long-term production of financial benefits for different stakeholders. Our operations produce financial benefits and wellbeing for our shareholders, personnel, material and service suppliers, and their employees and customers, as well as different municipalities, and the state.
Financial growth is fuelled by investments. Investments produce work, and the income obtained from this work is used to buy products and services or to make new investments. We support the ability of business life to grow by offering rental apartments in the largest growth centres. During the reporting year, SATO's investments in rental apartments stood at roughly EUR 600 million.
To support our management, we have prepared guidelines for our personnel and partners regarding procurement processes and the prevention of the grey economy. We require that our service suppliers are registered in the tilaajavastuu.fi portal in order to ensure that they have properly fulfilled their financial obligations.
Everyone working at SATO's construction sites must have a photo ID with a tax number.
Our apartment stock forms a significant part of Finland's national assets. We repair our apartments in accordance with the lifecycle principle in order to maintain or increase their operational and financial value.
EUR 45 million in apartment and building repairs.
SATO considers it important to communicate transparent and up-to-date information about its operations and finances to its stakeholders. During the reporting year, we revised our disclosure policy. All bulletins concerning SATO's operations are now released simultaneously via the publication system of Nasdaq Helsinki Ltd and to principal media and the Irish Stock Exchange and on the company's website at www.sato.fi.
Once a year, we release a consolidated annual report and sustainability report, in which we offer comprehensive information about our business operations, value creation processes, sustainability and finances. During the reporting year, ProCom, the Finnish Association of Communication Professionals, recognised SATO's annual report as the best report issued by unlisted companies, as also recognised in 2010 and 2012.