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financial statements 2011
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HR services by employing a new HR Director as of
January 1, 2012.
The Group’s foreign exchange risk depends on de-
velopments in the value of the Swedish krona. Accord-
ing to Edita’s foreign exchange risk policy, the foreign
exchange risk will be monitored regularly. If necessary,
the foreign exchange risk will be hedged. No exchange
contracts were hedged during this financial year.
Financial risks have been taken into account by
hedging part of Edita’s current interest-bearing liability.
The hedges are valid until the end of the loan period.
Special attention was paid to the speed of invoicing
and the efficient turnover of sales receivables and
inventories.
environment
The Nordic environment program set up in 2008,
Green Edita, progressed in all of the program’s key
areas, which are: ecologically sustainable purchases,
minimization of waste products, carbon neutrality and
energy efficiency.
The most significant accomplishments in 2011 were
Edita Publishing’s certification as a Climate-Neutral En-
terprise, the WWF’s Green Office certificate granted
to Edita’s headquarters and several investments and
measures for improving energy efficiency, carried out
in Finland and Sweden.
Currently, nearly 98% of the Group’s net revenue is
derived from climate-neutral companies. The Group’s
carbon footprint is over 30% smaller than in 2008.
In 2011, Edita’s production plants in Helsinki and
Västerås invested in the renewal of lighting systems on
the factory floor. Electricity consumption is expected
to decrease by more than 1,000 MWh. At the Helsinki
production plant, the waste paper collection system
was renewed as well. The new collection system is
entirely located indoors, which enables the heat gener-
ated by the system to be used in the heating of the
premises.
Edita also encourages environmental responsi-
bility on the part of its customers by developing its
own operations and by offering sustainable products
and services. Edita maintains websites in Finland and
Sweden informing people about sustainable publishing
(ekojulkaisu.fi and miljoanpassadtrycksak.se). They pro-
vide guidance on how environmental considerations
can be made at various planning and production stages
of a printed publication.
board of directors, ceo and
auditors
At Edita Plc’s Annual General Meeting of April 8, 2011,
Kaj Friman and Jussi Lystimäki were elected as new
Board members. Lauri Ratia continued as the Chair-
person, Jarmo Väisänen as the Vice Chairperson and
Carina Brorman, Riitta Laitasalo and Eva Persson as
other Board members. At the Extraordinary General
Meeting of August 31, 2011 Petri Vihervuori was elect-
ed as a new Board member to replace Jarmo Väisänen
and Senior Adviser Kaj Friman was appointed the Vice
Chairperson of the Board. Further information on the
Board members can be found in the Business Review
of the Annual Report.
Timo Lepistö, LLM, is the company’s CEO.
Edita’s Annual General Meeting of April 8, 2011
re-elected KPMG Oy, Authorized Public Accountants,
as the Auditor for 2011, and Minna Riihimäki, APA, as
the principal auditor.
outlook for 2012
Instability will continue in the market. Demand for com-
munications services is expected to grow very modestly
in Finland and Sweden. The growth in demand for
digital communications will continue to be strong. )*
Edita continues to develop its operations in order
to respond to the change in the market situation and
to customer needs. Edita holds a good position as a
provider of communications services in the Nordic
countries. Edita will continue to reinforce its posi-
tion by acquiring companies that support the Group
strategy. Thanks to measures carried out in 2011, Edita
will be able to respond to the challenging market con-
ditions in 2012. Edita’s result is expected to improve.
However, if the decline in printing operations proceeds
faster than estimated and the demand for communica-
tions services grows more weakly than anticipated, this
could slow down positive development.
board’s proposal on the disposal of
distributable funds
Edita Plc’s equity was EUR 44,013,825.38 at the end of
the financial year. The company’s distributable funds
are EUR 12,144,215.04.
The Board proposes to the Annual General
Meeting that the parent company’s profit for the year
EUR 2,003,536.51 be transferred to the profit and loss
account of previous financial periods and no dividends
be distributed.
*) The Finnish Association of Marketing Communication Agencies
(MTL), MTL-Barometer (Q4/2011); Institute for Advertising and
Media Statistics (IRM), Sweden, Revised advertising and media
forecast, December 2011.