Responsibility

Financial responsibility

We act in a financially responsible way.

Taloudellinen vastuu

Financial responsibility is a basic requirement for our operations. With our operations, we create value for our customers and for society, as well as for our owner, the City of Helsinki.

We aim to increase the market share of our current main products in a profitable way and to launch new and growing energy solutions and services on the market. We also aim to improve the efficiency of our operations in order to ensure the competitiveness of our services and continuity of our operations.

The Helen Group’s results for 2016 exceeded the forecast level, but remained clearly below the previous year’s level. The low market price of electricity, smaller sales volumes and increased fuel costs had a significant impact on the drop in the operating profit.

During 2016, we continued the planning of our extensive investment programme. We aim to make progressive investments to reduce emissions and increase renewable energy and to make use of all the opportunities offered by new technologies. We made a decision to invest in the pellet-fired heating plant at Salmisaari and the heating and cooling plant to be built under the Esplanade Park.

In 2016, Helen Ltd paid EUR 34 million in dividends on its 2015 results to its owner, the City of Helsinki.

The Group’s results exceeded the forecast level, but remained clearly below the previous year’s level.

READ MORE IN THE ANNUAL REPORT

The process of change in the energy sector provides Helen with good opportunities to build new business operations.

READ MORE IN THE ANNUAL REPORT

TAX FOOTPRINT

The tax footprint describes our impact on the surrounding society. In 2016, Helen Ltd and its subsidiaries Oy Mankala Ab, Helen Electricity Network Ltd, Helsingin Energiatunnelit Oy and Suomen Energia-Urakointi Oy paid a total of EUR 127 million in various taxes and tax-like payments (2015: EUR 91 million). They also have an indirect impact on the tax revenues of the state and several municipalities by employing over 1,200 people.

Helen Ltd and its subsidiaries pay all their taxes in Finland. 

TAXES AND TAX-LIKE PAYMENTS 2016

TaxesMilj. euroa
Corporation tax 5
Fuel tax 79
Real estate tax 1
Employer’s contributions 13
Waste tax 2

The Helen Group paid a total of EUR 127 million in taxes and tax-like payments.

TAXES REMITTED IN 2016

Taxesmilj. euro
Electricity tax 46
VAT remitted
to the tax authority alv
45
Withholding tax 9

Electricity taxes paid by the customers of the Helen Group, withholding taxes on our employees’ wages, and value added tax amounted to a total of EUR 203 million.

SUSTAINABLE PROCUREMENT

We aim to promote sustainability in our procurement. We take sustainable development into account in the entire procurement process whenever possible. We also make an effort to take the entire lifecycle of products and services into consideration.

In connection with competitive tendering, we request all tenderers to submit an account of environmental efforts in their operations. We also ask for further information on the acquisition with respect to, e.g. the environmental aspects related to the manufacture, use and disposal of products or the provision of a service. We require our contractors to act responsibly and to comply with the law.

We do not accept grey economy in any shape or form. We verify that our suppliers are registered in the trade, prepayment, employer and VAT registers. We also investigate whether the company has paid its taxes and statutory pension insurance contributions, complied with the collective bargaining agreements for the sector or the key contents of the terms of employment, and provided occupational health services. Furthermore, we monitor together with our suppliers that the agreed matters are carried out even with respect to the subcontractors.

We are members of the HSEQ cluster. In the cluster, we assess occupational health and safety issues, environmental responsibility and quality output in partnership with other industrial client companies. In 2016, we assessed five of Helen’s service providers, including workwear, protective equipment, fastener and shelving service providers.