Introduction

This year's Integrated Report aims to give a comprehensive picture of the Pelion companies' financial and non-financial performance.

For the Pelion family companies, the recent years have been a period of rapid market and regulatory changes as well as hard work, including dialogue with our stakeholders (the dialogue session summarised in a Deloitte report at the end of 2015). Based on conclusions coming from various sources, regarding stakeholder expectations and their perception of materiality of individual CSR areas, we have defined a new CSR strategy for 2016–2018, which became the starting point for a comprehensive presentation of the Pelion family companies' efforts in this Report. The strategy's three key objectives and fifteen undertakings for the coming years are the frame of reference underlying this Report, making it possible to present the current progress of activities undertaken by Pelion (see: CSR Strategy)

The initiatives announced in the CSR strategy for 2016–2018, which are to make the companies' growth lasting and sustainable, intertwine with business initiatives, in very much the same way as the CSR strategy intertwines with the business growth strategy, as can be clearly seen when Pelion's business is viewed through the lens of the value creation model. The model shows how the individual types of capital, which are affected, transformed and built by business activities, and the traditional financial approach to business are two interdependent domains (see: Value Creation Model).

This Report confirms the Pelion family's commitment to conducting its business in line with the principles of corporate social responsibility and to undertaking further initiatives for sustainable development, including for the Ten Principles of the UN Global Compact.