Annual report 2015
Annual report 2015
A challenging year
2015 was a challenging year for the SINTEF Group as is clearly illustrated by the figures presented in this Annual Report.
For many key businesses in Norway, 2015 came close to being a year of crisis. This has impacted on many of our clients, and resulted in the cancellation and postponement of planned research projects, especially in the oil and gas, energy and maritime sectors.
Fortunately, SINTEF has a healthy balance sheet and good liquidity, which is reassuring in times like these. However, the revenue stream from our ongoing operations was too weak in 2015, and this is unsatisfactory.
We need to show a profit in order to invest in laboratories and new research, which are essential if we are to deliver the high levels of technical quality on which SINTEF has built its name. In 2015 the entire organisation has been focusing intensively on reducing costs, operational efficiency, sales, and the maintenance of close contact with our clients.
But we have also been investing for the future. One of last year's highlights was the opening of the SINTEF Energy Lab. This is one of Europe's most advanced laboratories of its kind, and is where we are developing the environmentally-friendly energy solutions of the future.
In research terms, 2015 was a good year. We received excellent feedback from our clients and business partners. One of the highlights was our successful building of robust client consortia that helped us win through in the competitive race to achieve participation in the nine newly-established Centres for Research-Based Innovation. These centres represent a major and long-term investment on the part of the Research Council of Norway with the aim of encouraging close collaboration among businesses and leading research centres to promote innovation.
As SINTEF's new Group President, I can see that the organisation, with its cross-disciplinary expertise and wideranging networks with Norwegian business and community life, has both an opportunity and an obligation to make a major contribution to the essential restructuring now taking place in the Norwegian economy. Digitisation, re-industrialisation and the need for a "green shift" provide the key incentives for this process. Only then will we be able to fulfil our vision to provide 'Technology for a Bet ter Society'.
I am looking forward to getting on with this work.
Board of Director’s Report 2015
SINTEF is a non-profit research institute, organised as a foundation with subsidiary companies. SINTEF utilises its outstanding solutionoriented research and knowledge production to generate significant value for its Norwegian and overseas clients, the public sector, and society as a whole.
Key financial figures and financial statements
Key financial figures for research institutes
HSE Accounts for 2015
HSE is SINTEF's top priority – the safety of our staff takes precedence over all other considerations. Our HSE policy applies to all SINTEF-related activities in Norway and abroad. SINTEF aims to satisfy all legislative and other requirements and to ensure, through good management, that our performance continuously improves.