SO Responsibilityreport_2018

Financial
responsibility
SOL’s financial goals are based on profitable growth
and profitability. In addition to organic growth, SOL
aims to acquire business operations and enterprises
that will support the Group’s operations. A long-term
goal is for return on investment (ROI) to exceed 20%.
4rowth
G
will be financed from income. Our
equity ratio of 48.8% enables cost-effective
liquidity fluctuations. Good liquidity safeguards
SOL’s payment obligations to stakeholders
and also builds in flexibility for any
quick acquisitions needed. SOL’s liquidity has remained at
a good level. In addition to paying employees’ contributions
and public payments, the Group has been able to
finance investments and other acquisitions from income
in accordance with set plans. SOL wants to ensure that it
meets all payment obligations according to the agreed
payment terms without delay, and also expects the same
punctuality from customers with regard to their payments.
Our liquidity is measured with the Quick ratio which in
2018 was 1.3, meeting our objective.
All of SOL’s services are produced locally, and the operations
have been organised accordingly. SOL’s business
management, as well as the financial and HR administration
of SOL City, SOL headquarters in Finland, support
our local operations. Some of the financial administration
operates in Seinäjoki and Kouvola.
The turnover of SOL Group has risen by 13.8% since
2014, the growth of foreign subsidiaries has reached
33.7%, and that of Finnish subsidiaries 9.5%.
In 2018, the turnover in Finland were distributed as
follows: cleaning and facility services 73.4%, property
and security services 5.6%, laundry services 3.8%, and IT
services 0.7%. Finnish operations accounted for 79% and
foreign operations for 21% of turnover.
SOL’s gross investments amounted to MEUR 7, while
procurement of materials and services amounted to a
steady MEUR 12.3 in 2018.
We operate
nationally,
we serve locally.
26 Responsibility 2018 | www.sol.fi