The Building Information Foundation RTS sr. Annual Report 2017
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1 The Building Information Foundation RTS sr Annual Report 2017
2 The Building Information Foundation RTS sr Report Of The Board For The Financial Period 1 Jan 31 Dec 2017 The headquarters of the OP financial group in Vallila, Helsinki (2015), designed by JKMM Architects. Photo by Tuomas Uusiheimo, from the book The Building of Finland. 2 RAKENNUSTIETO Vuosikertomus 2017
3 " The Building Information Foundation RTS sr was founded in 1972 with the aim of promoting good zoning, construction and property management practices. " The Building Information Foundation RTS sr (hereinafter referred to as the foundation) and its wholly and partly owned subsidiaries form a foundation-oriented group referred to as the Building Information group. The Building Information Foundation RTS is the group s parent organisation. It is responsible for strategic management and community relations. The foundation manages the research and development activities of the entire organisation and, through its committee system, content production to promote best practice in zoning, construction and property management. The foundation s activities include issuing classifications and awarding scholarships, prizes, subsidies and recognitions. The foundation implements its mission with a long-term view for the benefit of the entire industry, continuously investing in development with a service-based approach. Management The board of the foundation convened eight times during the review period and held one meeting via . The board contains 12 people. The chairman was Juha Lemström and the vice-chairman was Ari Autio. The foundation s director general was Matti Rautiola. The director general is a regulatory member of the board and acts as the chairman of the board of Building Information Ltd (hereinafter referred to as the company). The business of the company was reported as usual to the board of the foundation. The board is responsible for approving the action plan, financial plan, annual report and financial statements. At the end of the year, 54 background organisations belonged to the board of representatives and there were 57 designated representatives. The chairman of the board of representatives was Gunnar Åström and the vice-chairs were Aija Staffans and Harri Tuomaala. The Building Information Foundation employed 8 people during the reporting year. Strategy The boards of the foundation and the company hold a joint annual seminar to prepare the strategy. The seminar was also attended by representatives of ET-INFOkeskuse AS. This time, the seminar was held on Building Information's premises in October and lasted for one day. The seminar assessed the relevance of the current strategy, the future of the operating environment and the need for updates. The foundation s strategy complies with the obligations and limits set out in its rules. The company s strategy was updated. Significant changes in the operating environment that concern Building Information include building classification systems, new growth areas, globalisation, digital economy and the related revenue model, the development of search services, environmental issues and non-toxic buildings. R&D activities The majority of the information content for Building Information s services is created by voluntary committees consisting of experts. In the review year, there were 56 committees including the main committees with a total of 600 members. The RYL series has required the greatest investment. Refurbishment RYL Facades and Infrastructure RYL Surface Structures were published in the review year. Significant progress has been made on the work to modernise the contents of Infrastructure RYL Soil, base and rock structures and Technical Systems RYL, and work began to update Estate RYL. Committee chairmen are paid a meeting fee of EUR 60, while members receive EUR 40. Parking expenses are reimbursed and travel expenses are paid against a valid receipt for people arriving from other localities. Committee members are given access to a free copy of an online product in their area of expertise for the duration of their membership. Related parties are also involved in committee work. Related party committee members are paid a meeting fee and compensation for expenses under the same principles as committee members who are not related parties. THE BUILDING INFORMATION FOUNDATION RTS SR Annual Report
4 The foundation is a partner in R&D projects. A cautious approach was taken to new R&D projects, but more projects were initiated than in previous years. The most significant projects were related to urban policies and housing, the development of city modelling, infrastructure modelling, environmental classification of buildings and the development of building classification systems. The KIRA-digi project, which is in line with a key project of the Finnish Government, continued successfully. Its operational office was located within the foundation's organisation. Classification The foundation s indoor climate classification work was actively continued. Almost 4,300 construction material products, ventilation products and items of furniture were classified at the end of the year. The RTS environmental classification, which takes account of the environmental perspectives of construction projects, was launched in 2017, and there were 30 active projects on the system at the end of the year under review. At the end of the year, work was initiated to develop the criteria for RTS environmental classification with the aim of taking the amended national regulations and guidelines into consideration. The suitability of the tool for the infrastructure sector is being assessed. Public relations In order to promote its community relations, the foundation and its representatives were involved in several Finnish and international collaboration schemes, organisations and projects in the course of the year. The popularity of building forums public discussion events arranged by the foundation continued to grow. Building forums are open to all participants and are free of charge. Scholarships, awards, recognitions, support and benefits The foundation granted golden badges of honour, awarded the Building Information ga prize, the RAKEVA prize and scholarships. In 2017, Building Information's ga prize EUR 2,000 was awarded to Tarmo Pipatti, managing director of the Confederation of Finnish Construction Industries (CFCI), in recognition of his open-minded approach to promoting collaboration, both within the real estate and construction sector and between various entities in the sector and in society. Thanks to his extensive network, superlative interaction skills and cross-disciplinary insight, he has been able to leverage significant societal influence. The 2017 RAKEVA prize was awarded to Professor Yrjänä Haahtela of the Haahtela companies in recognition of his long career as a researcher and the numerous, widely used project and real estate management methods that he has created. In addition, he has developed tools for use in the construction and real estate sector. The board of Building Information Foundation RTS grants scholarships for Master s theses or theses by students of universities of applied sciences covering various areas of building. The scholarships are also intended for students in the fields of productisation, service business, e-business and IT. There were 19 scholarship applications in 2017, and the board decided to grant scholarships worth EUR 7,000 to the following: > > Herman Mitish, Tampere University of Technology, Architecture > > Ella Lahtinen, Tampere University of Technology, Civil Engineering > > Sonja Turunen & Heikki Huttunen, South-Eastern Finland University of Applied Sciences, Social Sciences & Design To the best of the board s knowledge, none of the prize winners or scholarship recipients belonged to the foundation s limited group of related parties. The foundation's major project, a book entitled The Building of Finland in honour of the centenary of Finland's independence, was completed in autumn In addition to the foundation's involvement, the project received support and contributions from several other entities in the sector. The Building Information Foundation has a publication agreement with Finnish Construction Managers and Engineers RKL for the Builders Yearbook, which is published by Building Information Ltd. Building Information Ltd operates as a retailer of the Rakennustaito magazine published by RKL and it receives two free pages of advertising space in every issue. The members of Building Information s boards and the company s personnel receive a discount of 40 per cent on Building Information Ltd s own products. People belong- 4 THE BUILDING INFORMATION FOUNDATION RTS sr Annual Report 2017
5 ing to the foundation s limited group of related parties have been able to make purchases from Building Information Ltd s shop and product selections. Information on purchases by related parties is not actively collected. Board members are entitled to a free licence to access an online product of their choosing for the duration of their board membership. The average value of such a licence is EUR 1,000 per year. Members of the company s board and the chairman of the foundation s board also receive free copies of books published by Building Information Ltd. A total of 37 new books were published in 2017, and the market value of the free copies received totalled EUR 1,952 per recipient. Other related parties were offered Building Information group s products at normal prices. Property The foundation group includes Building Information Ltd (wholly owned by RTS); a majority interest in ET-IN- FOkeskuse AS (with RTS holding 69.2 per cent); and a majority interest in St. Petersburg Construction Centre Ltd, owned jointly by RTS and Building Information Ltd (RTS holding 42 per cent and Building Information Ltd 42 per cent). The previously established companies, Moscow Construction Centre Ltd (RTS 41 per cent, PCC 10 per cent), Latvia Building Centre Ltd (RTS 60 per cent) and Suomen Määrälaskenta Oy, are not currently active. The foundation is a shareholder of Haahtela-kehitys Oy (RTS 2.5 per cent) and FISE Oy (7.4 per cent). Additionally, the foundation is a founding member of the FINEDU Foundation (Rakennus-, kiinteistö- ja ympäristöalan Venäjä-koulutus- ja kehittämisyhteistyön tukisäätiö) and a founding member of the Bryggman Foundation. On 31 December 2017, the foundation recognised a writedown in the value of invested companies' shares on the balance sheet in an amount of EUR 63, The writedown is due to the uncertainties connected with the companies' activities. The write-down was treated as a non-recurring item and it will not affect cash flow. The foundation s equity investments in subsidiaries totalled EUR 325, on 31 December 2017, while investments in other equities amounted to EUR 263, and investments in artwork amounted to EUR 16,904. The content produced by the committees is owned by the foundation or, in a few cases, jointly owned by the foundation with a partner. Building Information Ltd pays for the content it uses in accordance with the relevant agreement. The foundation s liquid assets are in bank accounts and investment funds in accordance with an asset management plan. During the reporting year, a decision was made to transfer a minor share of the assets from bank accounts to funds. The foundation has a small amount of art, which has been listed and valued. Finances The foundation s finances depend on the company s turnover and related licence fees. As the company s turnover increased, the foundation s turnover grew slightly. The constant expansion of the classification operations underpins the foundation's finances. The foundation makes an annual agreement to purchase finance and administration services from the company and to rent its offices from the company. In 2017, a total of EUR 107,964 was paid to the company to purchase services and lease premises. The subsidiaries did not purchase goods or services from the foundation during the period under review. The foundation has no loan arrangements, guarantees or other commitments with companies belonging to the group. The foundation has not collected a dividend from the company. The foundation has no loan arrangements or other commitments to or agreements with individual related parties or companies owned by them other than the aforementioned. Members of the boards of the foundation and the company have been paid a reasonable fee for attending meetings and the chairman of the foundation s board receives an annual emolument. The director general has been paid a monthly salary based on an overall sum of remuneration. In total, EUR 172,770 was paid in salaries and fees to the members of the boards of the foundation and the company, the director general and the auditors. This sum includes the meeting fees paid to the director general, who acts as the chairman of the company s board. The auditors were paid in accordance with their invoice. To clarify the related party activities carried out in 2017, the foundation has enquired whether the members of its board, the director general, the members of the company s board and the company's managing directors are aware of any related party activities within the foundation group, and it has declared that there are no other related party transactions. THE BUILDING INFORMATION FOUNDATION RTS sr Annual Report
6 Most significant risks and uncertainties The most significant risks and uncertainties affecting the foundation's activities are connected with selecting strategic development targets, resourcing and implementation. The foundation must be able to address forthcoming challenges in its research and development activities and ensure sufficient expertise and resources. The foundation's activities are also affected by the development of Building Information Ltd's business and the related financial risks. Helsinki, 18 April 2018 THE BUILDING INFORMATION FOUNDATION RTS SR Juha Lemström, Chairman Ari Autio, Vice-chairman Markku Hedman Paula Huotelin Anne Jarva Kim Kaskiaro Mari Matomäki Jari Mäkimattila Pauno Narjus Matti Pentti Mikko Somersalmi Harri Tanska 6 THE BUILDING INFORMATION FOUNDATION RTS sr Annual Report 2017
7 THE BUILDING INFORMATION FOUNDATION RTS SR, BUSINESS ID PROFIT AND LOSS ACCOUNT 1/1-31/12/2017 1/1-31/12/2016 Ordinary operations R&D activities Income , ,05 Administrative expenses Personnel expenses -653,146, ,42 Depreciation , ,16 Other expenses , , , ,96 Surplus/trading deficit , ,91 Fund-raising Income , ,21 Surplus/trading deficit , ,21 Investment and financing activities Income , ,00 Expenses , ,58 Surplus/trading deficit , ,42 Transfers to funds , ,72 Surplus for the period 0,00 0,00 BALANCE SHEET ASSETS 31/12/ /12/2016 FIXED ASSETS Intangible assets Computer software 625,08 966,12 Renovations 9 677, ,12 Total intangible assets , ,24 Tangible assets Machinery and equipment 8 151, ,16 Total tangible assets 8 151, ,16 Investments Shares and holdings , ,05 Shares in group companies , ,22 Works of art , ,00 Total investments , ,27 CURRENT ASSETS Short-term receivables Accounts receivable , ,35 Receivables from group companies ,15 73,591,92 Pre-payments and accrued income ,42 81,78 Total short-term receivables ,87 161,786,05 Financial securities Financial securities , ,29 Total financial securities ,52 209,490,29 Cash and bank deposits 191,699,69 425,725,08 TOTAL ASSETS , ,09 LIABILITIES AND SHAREHOLDERS EQUITY 31/12/ /12/2016 CAPITAL AND RESERVES Basic capital 8 409, ,40 Other funds Contingency reserve , ,44 Contingency fund for profile publications 9,000,00 10,000,00 Reima Pietilä Fund 9 818, ,79 Total other funds , ,23 Total capital and reserves , ,63 LIABILITIES Current liabilities Accounts payable , ,90 Liabilities to group companies , ,05 Other liabilities , ,55 Accruals and deferred income , ,96 Total current liabilities , ,46 TOTAL LIABILITIES AND SHAREHOLDERS EQUITY , ,09 THE BUILDING INFORMATION FOUNDATION RTS sr Annual Report
8 Verstas Arkkitehdit won an architectural competition for the extension of the Lapland Central Hospital in Photo by Verstas Arkkitehdit, from the book The Building of Finland. The Building Information Foundation RTS sr Building Information Ltd. Malminkatu 16 A, Helsinki, Finland Tel RAKENNUSTIETO Vuosikertomus 2017
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