toimintakertomus

Toimintakertomus is the narrative section of Finland’s annual report. It describes the company’s operations and performance during the financial year and provides context for the financial statements, explaining the drivers behind the numbers and highlighting significant events and developments.

Contents typically include a review of business activities, important events, and the development of the company over the year, as well as information on market conditions and risks and uncertainties. It often covers governance arrangements, non-financial information such as sustainability and corporate responsibility, significant investments and projects, and the outlook for the coming year. The report may also discuss events after the reporting period and other factors influencing future performance.

Legal framework and publication: The toimintakertomus is prepared in accordance with Finnish corporate and accounting legislation. Large and listed companies usually publish a full annual report that includes the toimintakertomus, the tilinpäätös (financial statements), and an auditor’s report. The annual report is intended for shareholders and other stakeholders and is publicly available, for example on the company’s website and in the Trade Register as part of the annual reporting package.

Relation to tilinpäätös: The toimintakertomus complements the financial statements by providing narrative context, explanations of significant events, and information on governance and risk management. It may include forward-looking statements allowed by law. Some small or private companies may publish a shorter annual report without a separate toimintakertomus.