The Annual and Sustainability Report for 2023 is Mantena’s first of its kind, providing insights into Mantena’s triple bottom line. Additionally, the report is fully digital.

– We are extremely proud to launch our first fully digital Annual and Sustainability Report. Significant work has gone into this, providing us with a more comprehensive perspective on how we, as a maintenance and competence house, impact and can influence economically, socially, and environmentally, says Silje Holestøl, Director of Strategy and Sustainability.

The new Corporate Sustainability Reporting Directive (CSRD) will be applicable to Mantena for the fiscal year 2025. However, the company has chosen to prepare a report in accordance with the new requirements already for the year 2023.

– As a state-owned company, we wish to lead by example and heed the owner’s call to accelerate the green transition. Simultaneously, we have set a new strategic direction for the company with a holistic perspective on sustainability. It was therefore natural for us to more extensively include social and environmental aspects in our reporting, says Holestøl.

New Capital
The calendar is soon approaching the summer holidays of 2024, an unusually late time for Mantena to report annual results for 2023. The delay in this year’s reporting is due to the company’s financial situation and the owner’s decision on new equity in the revised national budget approved on Friday, June 21.

– We greatly appreciate the trust shown by the owner and are aware of the owners’ expectations for us to achieve profitable operations more quickly, says Arne Roland, Chief Executive Officer.

Mantena Takes Action
Mantena has already taken measures to meet the owner’s expectations for profitability. Earlier this year, we terminated the contract with Alstom due to non-payment for work performed, and we have exercised our contractual right to terminate the agreement with GoAhead Nordic for the maintenance of trains in traffic package 1 South.

– It was not economically sustainable for Mantena to continue with these contracts. The negative financial result in 2023 clearly reflects this. What is not as evident in this year’s financial statements is that the underlying operations at Mantena are developing positively, says Roland.

The Triple Bottom Line
In addition to a clear profitability goal, the company has set ambitious goals related to social and environmental aspects. These goals are divided into six areas: Climate and Environmental Footprint, Circular Solutions, Health and Safety, Diversity and Inclusion, Responsible Supply Chain, and Corporate Governance.

– At Mantena, we go to work every day, around the clock, all year round to keep the trains in the Nordics running smoothly. This is a societal mission we are proud of, and we are committed to fulfilling it in a manner that is economically, socially, and environmentally sustainable, says Holestøl.

See the full report here.