Principles of governance
STRATEGIC OBJECTIVES 2018-2022
We have established five strategic objectives, which balance the requirements of our various stakeholders. Fundamental to the successful delivery of our strategic objectives is the need to work closely with all our stakeholders.
The Company’s continued priority will continue to be to provide a reliable and high-quality drinking water service to our customers, and to ensure that all our activities, from initial water catchment to wastewater treatment, are enacted in accordance with strict environmental legislation.
With timely investments, we prevent bigger disruptions to our operational processes that may put our compliance at risk, and cause significant reputational damage to the Company. Adoption of new technology and working methods, will help us to operate in a more efficient and safer manner.
To achieve Operational Excellence, we need to:
- Deliver a reliable and safe service
- Invest into assets in a timely manner
- Adoption of sustainable practices and best technologies
Satisfied customers and community
Tallinna Vesi provides vital services to the population within its service area. We are responsible for a continuous supply of high quality drinking water, and a reliable wastewater service. Great customer service relies on understanding our precise customer needs, anticipating problems and resolving complaints quickly and courteously. We want our customers to trust in us, and have confidence in our service. To keep our customers satisfied, we need to keep abreast of the latest technology and be available to communicate through a diverse range of media platforms.
To ensure the customers and community are satisfied, we need to:
- Deliver on our promises
- Simplify and reduce the need for interaction
Professional and committed employees
Achieving operational excellence is not possible without the continued commitment of our workforce. We consider our people as our greatest asset, and we offer an environment where people with passion and commitment can work together, not only towards the achievement of corporate goals, but also towards personal career goals, supported with training and the continuous staff development.
Ensuring the continued Health and Safety of employees, and third parties who interface with the company’s activities, is of vital importance. Occupational Health and Safety is central to everything we do and safety will never be compromised. We are committed to ensuring a safe working environment, and ensure our facilities and equipment fulfil the relevant safety standards and legislation.
Considering the age profile in the Company it is of critical importance, so we can establish a systematic approach to succession planning. We believe it is advantageous to build teams with both new and experienced staff, to generate fresh and innovative ideas that are built on a solid base of practical experience. We encourage our employees to continuously learn and develop themselves. We support the progression of staff internally, and provide career development opportunities when possible.
To ensure the commitment and professionalism of our employees, we need to:
- Create a positive health and safety culture
- Plan succession in a systematic manner
- Develop a motivating working environment
Sustainable financial performance
We are committed to increasing shareholder value – delivering an appropriate rate of return, combining the distribution of dividends, whilst improving the market share price. A sustainable revenue stream with a high collectability rate, is essential to providing sufficient cash flows to cover operating costs and finance sustainable investments, whilst ensuring an adequate rate of return to our investors. A strong capital structure is essential to support the delivery of shareholder value and provide sufficient financing for investments.
To ensure the sustainability of company´s financial performance, we need to:
- Maintain a sustainable revenue stream
- Ensure strong capital structure
- Deliver shareholder value
Sustainable Growth – Watercom
We keep looking for ways to increase the shareholder value by ensuring the continued growth of Watercom.
To ensure the continued growth of the company, we need to:
- Ensure sustainable growth of Watercom