Annual Reports

The company started its operations on 27 November, 1991. The company's registered office is Helsinki. The share capital of the company consists of 10,611 shares of the same series, all owned by the City of Helsinki. Since 2017, the company has had a subsidiary – Kaapeli Media Centre Ltd – in which it is the sole shareholder.

Property development

During the financial year, the company's property development mainly included mandatory repairs, such as window renovations, lock changes and minor renovations in connection with a change of tenant.

In addition, the insulation of heating pipes was improved at Cable Factory, which gives better energy efficiency and reduces overheating in Turbiinisali (Turbine Hall). The premises at the back of Konttori at Cable Factory were also renovated improving working conditions and lowering the temperature in the kitchen. In N10, the lift in the A staircase was renovated and some additional repairs were carried out on the courtyard deck. In Suvilahti, the planning for chimney and roof repairs in building 1 started.

Rental activities and tenant services 

The company's rental operations performed very well during the period. The company's turnover increased by 4.1% from the previous year. Despite the very challenging market situation, the occupancy rate for premises intended for long-term rental remained very high (approximately 99%) throughout the period and the rental of event premises for shorter periods was more or less on the same level as the year before.

Visitor services

Visitor services are focused on Cable Factory and Suvilahti. At Cable Factory, the sale of museum tickets has been moved to Glass Courtyard’s info point, which has made customer flows smoother and provided synergies among the actors. The basement corridor Baana at Cable Factory, which extends from Glass Courtyard to the B, C and D staircases, was opened to the public and the signage was improved.

A photo exhibition about the history of Suvilahti was arranged at Suvilahti Gallery, and the steel gas clock was put into use for the first time.

Organisation, support functions and working methods 

The maintenance staff was reinforced by hiring a new property manager at Cable Factory in the spring. The company's long-standing technical manager and technical draughtsman retired.

The introduction of the public procurement procedure was the most important change in the company's work processes. The city has granted investment grants for basic renovation of the historically important buildings in Suvilahti, which means that the company will become a procurement unit in the project. Since autumn 2024, the staff has received training to be able to handle public procurement processes.

Renewal - Events, experiments and international cooperation

During the period, the company actively participated in European collaboration networks such as ECBN (European Creative Business Network), ECHN (European Creative Hubs Network), EIT Culture & Creativity KIC (European Institute of Innovation and Technology) and TEH (Trans Europe Halles). The EU project Rebuilding to Last, in which the company participated, was completed during the period and its final conference was held at Cable Factory. The company also participated in a new EU project called Greening the hubs.

The traditional events Art Night at Cable Factory and Planet Suvilahti were organized during the period. In addition, the company participated in the production of the Armas festival and explored the possibilities of establishing an international centre in Finland focusing on creative aging.

Environmental, social and economic sustainability

As in previous years, the company also followed the Eco-Compass environmental program in its properties in 2024. Within the
framework of this, solar panels were installed on the roof of Dance House Helsinki. The company also developed the safety culture in its properties, in accordance with the principle of social responsibility.

During the period, the company also improved the accessibility of its properties at Cable Factory and N10. Economic responsibility was promoted through the procurement of subcontractor services as framework agreements expired at the end of the period. 

Finances

The company's turnover in the financial period was EUR 9 146 636 (2023: EUR 8 789 490). The majority of revenue came from long-term rentals (approximately 89%), but short-term rental was also a significant source of income (approximately 8%). According to forecasts, the financial period would be very challenging and loss-making for the company, but due to extensive cost savings and a warm autumn, the result was only EUR -12,614 (2023: EUR 71,861) negative, while the company's cash position was significantly strengthened. 

At the end of the period, the owner decided to capitalize the outstanding debt so that loans taken out due to the pandemic and Dance House Helsinki, which had burdened the company's finances, could be repaid in early 2025. In addition, it was agreed with the city of Helsinki that the city would provide investment grants for the renovation of historic buildings in Suvilahti. Based on this, the financial period as a whole can be considered successful for the company.

Board of Directors

There have been significant changes in the company's board of directors during the financial period. The long-standing chair Anna Baijars resigned and Marja-Leena Rinkineva, who was the vice chair, took over as the new chair of the board. Board members Miia Pasuri and Markus Koistinen also resigned. Juha Ahonen and Pontus Juntunen were welcomed as new board members.  

At the end of the financial year, the Board consisted of the following members: Marja-Leena Rinkineva (chair), Juha Ahonen (vice-chair), Pontus Juntunen, Jarkko Lehmus, Dimitri Qvintus, Pauliina Saares and Anna Tuori. The Board of Directors met eight times during the financial year. The Annual General Meeting was held on 30 May 2024 and an extraordinary meeting on 28 August 2024.

The auditor in charge was Teemu Koski, BDO Oy.

Read annual report 2023
Read annual report 2022
Read annual report 2021