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Annual report 2014

Annual report 2014

Restructuring requires research and knowledge

President CEO Unni Steinsmo
Unni Steinsmo, President - CEO

We are living at a time that requires major restructuring of many facets of our society. Research, knowledge and innovation are the keys to success in this venture.

Globalisation, a long-lasting economic crisis that extends across Europe, a growing need for security and the ongoing transition to new energy systems are all factors that contribute to uncertainty and rapid unexpected changes. In Norway, the need for restructuring is attracting ever more attention because of the fall in petroleum revenues. This has led to a more active debate about the need for more financial legs to stand on and about a move to a greener economy.

The reality is that the need for restructuring is always present, even when the economic situation is good. A process of continuous change and improvement is essential in order to develop a sustainable society. The concept of sustainability involves taking the environment and climate, a healthy economy and social conditions into account. We need to balance all of these factors in order to develop societies that are good to live in.

Research, knowledge and innovation are essential for success in restructuring our society. There is global, national and regional competition to attract businesses that create value and provide jobs, and we can observe that the companies that put the most effort into research and innovation are the winners in this race.

Innovative thinking is essential, both in industries exposed to competition and in the public sector. In the years to come, the authorities and the service sector will need to put great efforts into innovation in order to tackle
major challenges.

For SINTEF, change brings the prospect of new opportunities. We contribute to the restructuring of society through our knowledge, our laboratories and our ability to develop new technologies. Our ambition is to participate actively as a partner for industry and the public administration, so that we can contribute to the creation of value, innovation and the development of solutions to the great social challenges of our time.

The demand for restructuring also applies to our own activities. This Annual Report suggests that as a point of departure, our financial position is good. Good operating practices and a positive financial result are essential to our ability to invest in new laboratories and research. However, the figures for 2014 also suggest a different picture; the results of our current operations are too weak in several parts of SINTEF's activities. This is a problem that we need to deal with through our own process of continuous restructuring and improvement.

Unni Steinsmos signature
Unni Steinsmo

Glimpses of SINTEF: 2014

The Research Council of Norway established 17 new Centres for Research-led Innovation (SFIs), which will trigger long-term industrially oriented research worth NOK 3 billion in the course of the next eight years. SINTEF is participating in nine of these centres.

SINTEF's research company MARINTEK celebrated the 75th anniversary of the ship model tank at Tyholt in Trondheim. This was the origin of the present-day Marine Technology Research Centre, a facility of great national and international importance.

SINTEF scientist Bjørn Gustavsen was awarded SINTEF's prize for excellence in research for his development of advanced analytical tools for the electricity distribution system.

SINTEF scientists have managed to persuade bacteria to power a fuel cell. Now the research group hopes to scale up the amount of energy produced by the system so that it can also be used for water purification.

Report of the Board: 2014

Researcher in laboratory

SINTEF made an operating profit of NOK 106 million in 2014, and a pre-tax profit of NOK 143 million. A number of one-off items have had a positive effect on the financial result, but profit from ordinary operations has been inadequate.

Key financial figures and financial statements

Graphs Sources of finance, employees and publications
Sources of finance, employees and publications
Graphs Net operating income, net operating margin and investments
Net operating income, net operating margin and investments
Graphs Equal opportunity in SINTEF
Equal opportunity in SINTEF

Key financial figures for research institutes

HSE Accounts for 2014

HSE is given top priority at SINTEF – the safety of our staff is more important than any other consideration. The HSE policy applies to all SINTEF-related activities in Norway and abroad. HSE is a management responsibility and should form part of our daily routine, in which our employees are required to participate.