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Economy & society
Group's impact on the society
The guiding principle of Sanoma Group's business, which has roots going back more than one hundred years, is long-term commitment. The Group wants to grow profitably. Strengthening the focus on organic growth, one of the strategic objectives for 2011-2013, will help us successfully develop our businesses from products to services, from passive to more active and from mass to personal.
The economic impacts of Sanoma reach many different stakeholder groups, and the charts below depict how Sanoma's direct economic value is generated and distributed. Operating expenses, employee wages and benefits and taxes paid to governments account for a majority of the economic value distributed. Sanoma offers its owners a stable dividend yield – the amount distributed by the Group each year in dividends is normally more than half of the Group's result for the period.
Sanoma wants to promote good business procedures. We only work with reputable and experienced partners, and all business transactions undertaken on our behalf are reported accurately in our accounting.The key principles employed in financial reporting are reliability, correctness and continuity. The implementation of good practices is ensured by Group-wide guidelines for reporting, appropriate approval procedures and internal control.
In addition to acting responsibly in our daily operations, Sanoma donates part of its earnings to charity, in line with the approval of the Annual General Meeting. The beneficiaries are mainly foundations that support the freedom of expression, research into journalism and culture. In 2010, an amount of EUR 500,000 was donated, whereas for 2011 an amount of EUR 550,000 was reserved for donations. In addition, the Group's units give direct support to projects they consider important.
“The economic impact of Sanoma reaches many different stakeholder groups.
Both the Group and its businesses contribute to the common good at many levels of the society.”
