Hence, our positive financials are not to be despised. The tanker market for sea transportation remains and we are having tankers in open positions to seize opportunities from the situation. Our drilling units have around 2 billion SEK of increased revenues when entering 2024 which mainly will cover their cost of capital. Due to low fixed interest rates and investments in solar energy and AI, Stena Fastigheter’s operating costs are low which generates a significant surplus.

We had the opportunity to sell our property portfolio for soaring prices three years ago. Instead, we developed a plan to improve our business to deliver the same value within five years. It is gratifying to see that after three years of dedicated work, the people at Stena Fastigheter have already reached these goals.

Stena Line’s profit in 2023 was half compared to 2022. The performance behind the result this year is however more remarkable than that of 2022 due to the worsened economic situation.

The majority of Stena Adacum’s companies are serving the consumption sector of the economy. Stena Adactum’s total profits have decreased by a fourth. Despite the decreased profit, we have all the reasons to be happy that the results are not worse. Our customers are happy with our work, and we are dedicated to satisfying them. We might not always have the most effective production, but we do have the most customized products.

Stena Recycling’s customers have seen a decrease in volumes, which proportionally also affects us. Enabling reduced costs simultaneously as meeting the expectations of Stena Recycling’s customers requires consistent advanced improvements. Stena Metall’s result is decreasing but is still delivering a healthy profit.

IT IS EASY TO UNDERESTIMATE THE THREATS OF THE FUTURE

Our strong market positions are one important source of generating our profits. Although many competitors are often planning for growth by the ambition to take market shares specifically from us. Low operating costs are always our best defense. It is demanding and does not always work and it is not enough. It is most important to always offer the most customized products and services. We are always following up on Stena Recycling and Stena Stål’s wholesale business and we have won more A-customers than we have lost. Our results remain favorable although we have seen new aggressive actors in some markets. We are measuring Stena Line’s freight customers in the same way. Our freight customers increase in numbers as well as in volume, but many companies are acquired by both freight competitors and by our ferry competitors which in turn results in new priorities. We can see that we lose especially clients being acquired by our ferry competitors from our client base. Our own forwarder/ freight company is growing but is enforcing Stena Line’s routes marginally. Stena Line has invested in new ferries taking larger volumes. It comes with increased capital costs, requiring larger volumes to remain profitable. Stena Line’s return to capital employed is decreasing while we continue making a profit. Positively, traveling with our ferries has got an upturn again. The ideal proportion between freight and passengers has varied between our routes and over the years. Freight ferries are cheaper than combined freight/passenger ferries, but our routes have a demand for both types of transportation.

Stena Line’s business therefore requires constant investments in ferries as well as terminals, business systems, and ports. Accordingly, we are planning for 1.8 billion SEK in new and replacement investments for Stena Line. This takes almost Stena Line’s entire free cash flow.

Stena Metall is a less capital-demanding business. However, the demand for capital is growing while we are transforming ourselves into an industrial specialist regarding almost all types of material to be recycled. The latest competencies in our portfolio are the recycling of plastic and batteries. We have invested billions in technologies for these operations. Our clients for recycled materials are making huge savings, as we know how to fine-tune the quality of the materials and diminish the size of particles in our deliveries. Of course, this requires energy while fragmenting, but our clients save more during their melting processes if the particles are well-defined and smaller.

A total overview of our businesses shows, that we continue being a curious company. Curiosity and the will to be innovative have historically taken us where we are today. Curiosity generates new ways to study and understand what we do and what is happening in our surroundings. By analyzing what we do through a magnifying glass, we will find that all our activities are interesting and could be improved. Our surroundings are constantly changing. This is fantastic, while it on the other hand is a threat. I am thinking, and sometimes, I am shouting “Finally” when I wake up in the morning in relief over being able to walk to the office and solve both urgent as well as long-term tasks. It is important to enjoy the pling, when one hears the pling in the cashbox. The availability of cash is creating the critical resources for us to remain curious, have manageable safety, and be useful in a world, that despite all success becomes more and more uncertain.

Dan Sten Olsson, CEO

Göteborg January 2024

Change is inevitable. It is the essence of life, where everything is constantly evolving and adapting. Were we fully prepared for the advent of the internet, the e-book, or the smartphone? Probably not, but we learned to use them and benefit from them. The same is true for AI and Gen AI. They are here to stay, they are the future, and we all need to become AI ready and AI literate by being curious, willing to learn, and open to new ways of working.

I am excited to see what the future technological solutions will bring. I know that AI will enhance our lives, our work, and our creativity. But I also know that AI is not a magic bullet that will solve all our problems. We need to be aware of the ethical, social, and environmental implications of AI, and we need to collaborate with AI in a responsible and human-centric way.

That is why I am committed to learning more about AI, its applications, its limitations, and its potential. I want to be part of the change, not a passive observer or a reluctant follower.

The speed of change and evolution is greater than ever, and it will continue to increase. For that reason, I and all of us need to become AI ready and AI literate, and I invite you to join me on this journey.

The World Economic Forum’s 54th annual meeting earlier this year gathered nearly 3,000 leaders from government, business, and civil society from more than 125 countries. All committed to the World Economic Forum’s mission: improving the state of the world by shaping global, regional and industry agendas. Niclas Mårtensson and Carl-Johan Hellner came back keen to share valuable insights from the meeting.

“From a macro perspective, given the rapid pace at which the world undergoes political and economic transformations, it’s more important than ever to create a resilient company. We need to always be aware of what’s around the corner and adapt to new circumstances. It’s about finding the resilient way of leading, to always be curious, and recognising that our past decisions may not necessarily align with the optimal choices for the future,” says Niclas Mårtensson. He continues: 

“The nationalistic tendencies and the growing lack of trust in democracy make partnerships essential, also in the business world. The World Economic Forum is a great example of that.” 

A dominating topic at this year’s meetup in Davos was AI. The discussions around this fast-evolving technology reassured Niclas Mårtensson that Stena AB is on the right track. 

“We acknowledge that AI is an important ingredient in terms of understanding what goes on in the world. But of course, we have a long journey ahead of us.”

The advance of generative AI also sparked conversations about the necessity for regulatory measures. As businesses strive to comprehend the possible impact of AI, governments around the world are racing to take the lead on governance frameworks. Singapore is one country trying to democratise the development of AI, and their Minister for Communications and Information, Josephine Teo, talked about a new governance framework at the meeting in Davos. Carl-Johan Hellner agrees that governance is crucial since AI is a technology that can aggregate and interpret possibly endless amounts of data. 

“The risks of AI can be summarised in the three D:s – disinformation, deep fakes and discrimination. We need to be aware of the potentially enormous impact AI can have on how we view the world. Especially in this historic election year, with more than 2 billion people expected to go to the polls,” he says.

Carl-Johan Hellner emphasises the importance of not getting caught up in the AI hype and to focus on what is relevant, by asking the question: how can we as business leaders make use of AI in a responsible way? All-in-all, the future looks promising. 

“Yes, there are plenty of challenges in the world, but it’s not game over. I see AI as a great opportunity and Davos left me with a sense of progressive optimism,” he concludes.

The North Sea can be an extreme environment for drilling operations and the client requested that the vessel be available for the entire duration of the summer months to allow them to maximise their drilling programme. With the Stena Don class renewal survey being due in the window Q4 2023 – Q1 2024 with a duration of just over 2 months and the client having work committed up to the end of 2023, this presented a challenge to ensure the class certificates were renewed on time while optimising the availability of the rig for the client.

Stena Drilling engaged with DNV to renew the class certificates and carry out the UWILD (under water inspection in lieu of dry docking) within the survey window with the shortest time out of service and defer the main SPS project to winter of 2024. Working with DNV and the client, a plan was developed to carry out the comprehensive inspections and testing necessary to renew the class and statutory certification in a 14 day period in the shipyard. This period was utilised by both Stena and the client to carry out intrusive maintenance and install new equipment onboard the rig for the drilling campaign ahead.

The project plan was created well in advance as it was critical that Stena Don return to operations for her client by a certain date.  “Everyone has come together and we’re on track for hitting our target date,” says Fraser Scott, Engineering Superintendent.

Included in the project was inspection of the columns cross bracing, overload testing on the cranes to renew the crane class certification, and a full strip down of the top drive for inspection and pressure testing.  A small project team integrated with the crew, yard, the client and their 3rd parties to ensure that all the objectives for the project were met.

Due to the intensive nature of the project, additional safety officers were required to assist with the control of the Permit to Work System.  They identified the conflicts within the areas of operation and interacted with yard workers by having safety conversations and performing audits to monitor and challenge where appropriate in line with our Stena Management System (SMS) requirements.

In conclusion, Stena Drilling adopted an innovative approach to asset management, focusing on safety and efficiency while also collaborating with our client and maximising the opportunity that the short time out of service provided. In doing so, Stena Drilling reinforces its leadership position in the industry while contributing to a culture of continuous improvement and collaboration.

“It’s time to get back to our year-long campaign of drilling with our client and we’re really looking forward to getting back into that,” Nick Benzie, Rig Manager.

The first speaker was the energetic and inspirational Per Sundin, former record company director at Sony Music, Universal Music and the current CEO of Pophouse Entertainment. Sundin shared candid insights into both successes and mistakes, recounting the turbulent yet revolutionary times of the music industry’s shift to digital. Under the theme ”Love Change,” he explained how Universal Music thrived by embracing collaboration with new digital players like Spotify instead of clinging to outdated business models. Sundin’s journey, including investing in the then unknown Tim Bergling now known as Avicii, is even immortalized in the Netflix documentary, The Playlist. Sundin quoted the legendary Steve Jobs: “Hell will freeze over before we start streaming music!” and reflected on Universal’s shift from defending its old business model to cooperating with the changing market. A powerful reminder that in a changing business landscape, collaboration trumps competition.

THE INITIATOR AND DRIVING FORCE BEHIND THE STENA AB NETWORK FOR FEMALE LEADERS, DEPUTY CEO STENA AB, ANNIKA HULT:

“We all feel the changes in the world around us and it is challenging to not to be in control. But we can be certain that this fast-paced world is not a phase. It is the new business landscape that we need to learn to embrace. At Stena we have two strong years behind us, showing that our business model works. But we cannot lean back and relax. We need to care, innovate and perform to make sure we stay on the short list of businesses that disrupt instead of ending up on the long list of businesses that die.”

SOCIAL SUSTAINABILITY AT STENA PROPERTY

Sarah Pettersson, Social Sustainability Manager at Stena Property, took the audience on a heartfelt journey through the challenging and sometimes brutal realities of the communities where Stena owns and maintains properties. Blending the stories with moments of laughter, she shared anecdotes about the ingenious ways dedicated Property and Relationship Managers are active and work tirelessly to develop these neighbourhoods. The motivation for Stena Property to champion social sustainability is rooted in the belief that doing good is not just a responsibility but a heartfelt commitment.

It’s about feeling good by doing good. It’s about doing what’s right, not only for the sake of altruism but because it makes good business sense. The ripple effects are clear – reduced vandalism, cleaner surroundings, and the culti-vation of more appealing communities. Beyond that, the advantages extend to new business opportunities, improving the employer brand and much more, making social sustainability a purposeful component of Stena Property’s business strategy.

“Social sustainability is not a project. If we want to see long-term effects, we have to take long-term action!” Sarah Pettersson, Social Sustainability Manager at Stena Property.

CIRCULAR ECONOMY ENLIGHTENMENT

Louise Eriksson and Jessica Wolf from Stena Circular Consulting, a company within the Stena Metal Group, provided a captivating crash course in the circular economy. Demonstrating how adopting its principles can lead to long-term profitability and resilience, they discussed various business models and stressed the importance of considering four dimensions for success. Their insights highlighted that a holistic approach, beyond product development, is crucial for a successful shift toward a circular business model.

Eriksson addressed Stena’s readiness for the circular economy: “Stena has high awareness, and the knowledge is increasing. But we need to create the processes and get started with the change. It is a long journey, and we need to keep up the pace.”

ABOUT THE STENA AB NETWORK FOR FEMALE LEADERS

Initiated in spring 2021 by Annika Hult, Deputy CEO, and Maria Holmberg, Director of People and Organizational Excellence, the Stena AB Network for Female Leaders was established to create a place for leaders to connect, form extended networks and collaborate. The network is one of Stena’s efforts towards achieving gender equality and addresses the fact that women in leadership roles are still a minority in some of our businesses. The network is aimed at female managers, project leaders and specialists. Meetings occur twice a year, once digitally and once physically.

The new service is initially operating with one ship, six sailings a week Monday to Saturday, departing Dublin early in the morning and making the return journey from Birkenhead in the evening. 

Stena Line already had operations in both Dublin Port and Birkenhead, and this new service will complement the existing routes from Dublin to Holyhead and Belfast to Liverpool. The 8-hour crossing is being temporarily served by Stena Horizon with a freight capacity of 130 units per sailing.

Dublin-Birkenhead will be a freight only service to start with. There is a demand from the closure of the P&O ferries route and Stena Line is currently assessing ship deployment options for a permanent solution for the service. Stena Horizon will go into dry dock in March and be replaced by Stena Nordica. We’re also looking for a charter vessel to support the route. The plan is to increase in unaccompanied freight traffic.

“We are very excited to re-establish this vital trade corridor with our new freight route between Dublin and Birkenhead which will further increase crossing options for our hauliers and their customers. With Stena Line now operating two routes out of both Dublin Port and Birkenhead, we are establishing key logistics hubs connecting freight flows across the Irish Sea and creating efficiencies for port users,” says Paul Grant, Trade Director, Irish Sea.

“We have invested significantly in our Birkenhead operations in recent years and as a result have seen growth on our Belfast to Liverpool service. We are confident that this new service will prove popular, offering more choice for our freight customers on both sides of the Irish Sea,“ he added. 

This is Stena Line’s seventh route in the Irish Sea region in addition to Belfast-Cairnryan, Belfast-Heysham, Belfast-Liverpool, Dublin-Holyhead, Rosslare-Fishguard and Rosslare-Cherbourg. 

“The launch of our new freight service between Dublin and Birkenhead secures a vital trade route on the UK/Ireland corridor and further strengthens our position in the Irish Sea,” says Niclas Mårtensson, CEO. “With Stena Line’s extended operational contract with Peel Ports at Birkenhead and the expansion of our operations at Dublin Port, this route further demonstrates our commitment to our customers in the region and we are confident it will be a success offering direct access to the UK, Ireland and into Europe.”

“Development of the E-Flexer concept continues as new technology becomes available,” says Per Westling, Stena RoRo’s managing director. “We’re also seeing that the regulations that will be applied to our markets in the future are becoming clearer. Both the EU and IMO are making progress in their work with regulations. Multi-fuel engines and battery hybrid technology have developed rapidly, and we are now implementing these technologies in our new vessels. We’re seeing that ordering new ships, along with optimization of existing technical and operational systems, will be the most important and powerful measures to reduce shipping’s future CO2 emissions.”

The E-Flexer series is derived from a basic concept but with larger vessels than today’s standard RoPax ferries and very flexible. Each ship is tailored to the customers’ needs, both commercially and technically. Optimized design of the hull, propellers and rudders help to ensure that E-Flexer vessels are at the forefront when it comes to durability, performance and cost, as well as energy efficiency.

CORSICA LINEA ORDER

At the end of last year, Stena RoRo ordered another E-Flexer vessel from the Chinese shipyard CMI Jingling in Weihai.

The ship will be delivered in the first quarter of 2026 to Corsica Linea and operate between Marseille and Corsica. This is Stena RoRo’s thirteenth vessel in the E-Flexer series and the first to be delivered to the Mediterranean region.

ABOUT E-FLEXER NO. 13 (FOR CORSICA LINEA):

Length: 203 m
Draught: 6.5 m
Beam: 27.8 m
Capacity: 1,000 passengers and 2,500 cargo meters freight
Speed: 23 knots

MARINE ATLANTIC DELIVERY

At the beginning of February, number ten of the Stena RoRo E-Flexer series was delivered from the CMI Jinling shipyard in Weihai. The vessel, named the Ala’suinu, will be on a long charter agreement with the Canadian state-owned Marine Atlantic and operate on a ferry line in eastern Canada between Newfoundland and Nova Scotia.

ABOUT E-FLEXER NO. 10 (FOR MARINE ATLANTIC):

Length: 203 m
Draught: 6.5 m
Beam: 27.8 m
Capacity: 1,000 passengers and 2,500 cargo meters freight
Passenger cabins: 186
Speed: 23 knots

“In this vessel, another dimension of sustainability has been added as it has been designed to make a minimum of noise in consideration to the sensitive underwater fauna of Canada’s coasts,” says Staffan Stenfelt, General Manager, Newbuildings, Stena RoRo. “Multi-fuel engines and battery hybrid technology further contribute to minimizing Marine Atlantic’s environ-mental impact.”

“This was my fifth E-Flexer delivery as a project manager,” says Jonas Tullock, Project Manager, Newbuildings, Stena RoRo. “Half the team was at the signing ceremony in Gothenburg together with the customer Marine Atlantic, and the other half with our site team at the shipyard in China. This was the first time an E-Flexer was built with a hybrid solution and battery operation, which meant new challenges for the yard and that the sea trial took longer than usual. In general, I think the yard is good at delivering according to our specific needs and staying on schedule. And with a high quality.”

FIVE SHIPS SIMULTANEOUSLY UNDER CONSTRUCTION

Stena RoRo currently has 13 confirmed orders for E-Flexer vessels, as well as two so-called “NewMax” RoRo vessels, at the CMI Jinling shipyard in Weihai, China. A total of five vessels will now be under construction at the shipyard at the same time.  Thus far, ten vessels have been delivered.

On behalf of ship owner clients, Northern Marine’s sizable multinational workforce operates vessels propelled by traditional and alternative fuels such as methanol, biofuel and LNG.

As well as sustaining respective sector or national certification through mandated training, seafarers at Northern Marine also undergo a range of ‘value-added’ onboard training that ensures the employees reach their full potential and can match the overall Company Training ethos: “Competency beyond compliance.”

Complementing computer-based training programmes, a bespoke online Competency Management System based on individual ship types and individual ranks is currently being rolled out to assist seafarers to continuously develop their skills in their existing ranks and prepare for potential promotion.

Northern Marine also delivers a fully supported crossover training programme for seafarers in the Fleet looking to transition to different vessel types, such as LNG or methanol-fuelled vessels.

As well as attaining the respective industry certification to operate such vessels, Northern Marine’s programme also includes the opportunity for the seafarer to shadow experienced colleagues onboard the specific vessel type they hope to work on.

John Abate, Head of Training, Northern Marine Group said: “Our training agenda is continuously responding to evolving industry demands.

“Across shipping there are numerous newer fuel options and related systems either being utilised or explored, such as LNG, ammonia, methanol, nuclear, hydrogen, biofuels, battery, and wind. As there is yet to be a dominant method of propulsion amongst the emergent new fuels, the maritime industry is moving from a stable skill set, in other words nearly all powered by diesel, to multi option fleets requiring diverging skill sets.

“Indeed, as more complex ships join our management, our targeted training modules cover IGF, dual fuel propulsion, and automation.

“Our range of onboard training complements our various onshore training programmes and seminars, all aiming to ensure we raise our training standard above industry expectation to achieve competency beyond compliance.”

When onboard, cadets training with Northern Marine Group subsidiary Clyde Marine Training utilise a digital training support platform to access learning resources, receive support and guidance for the completion of their training record book, as well on or offline tutor-led micro-learning modules.

And while much has changed in maritime training in recent years, Safety has and always will remain a priority. In tandem with onshore management, Northern Marine seafarers participate in onboard real-time emergency drills involving role-play exercises.

Seafarers also participate in onboard team-based Maritime Partners in Safety training where learning engagement tools are available on the vessel to allow teams made up of around 5 crew members discuss safety risks how to prevent incidents occurring. Safety and operational training are also delivered in person by highly experienced visiting Northern Marine Fleet Safety Specialists who can identify and help crews address required improvements onboard.

The ship management and marine services provider, headquartered in Glasgow, recently welcomed the first of two FSRU’s (currently operating as LNG carriers) into its management, beginning service provision to new client Energos.

The assets, which have all infrastructure required to store and regasify liquefied natural gas back to natural gas, will relocate to Germany to supplement energy storage and supply in the region.

The new relationship with Energos will also see further assets transferred into Northern Marine’s management in due course.

Charalampos Prokopiou, Fleet Director – Gas, Northern Marine Management, said: “We are very proud to have been selected as managers of the Energos Force and Energos Power.”

“These important assets will receive both technical and crewing management services from Northern Marine from our head office in Glasgow. “While we have been operating in the Gas sector for many years, our fleet has only recently become majority-Gas which evidences our growing presence in the sector.”

Sourcing from its sizable pool of certified seafarers, and by recruiting additional experienced specialist personnel where required, Northern Marine will supply all crew members for both assets.

The FSRU’s will have approximately 30% more crew compared to a conventional managed LNG Carrier.

This year is an exciting year for the Company with a regeneration of Northern Marine’s Fleet underway following a temporary reduction due to clients capitalising on strong asset values in what has been considered a seller’s market.

Several vessels, including newbuilds, have arrived into management in recent months with 2024 likely to see one of the largest influxes of vessels in a calendar year, many of which will be gas carriers for new clients.

It is very important for Stena and me personally that everyone who contributes to our success feels good at work. Therefore, this award is particularly significant. Thanks to all of you who contribute to making your workplace a great place to be. And special thanks to the Stena Pulse Core Team, consisting of representatives from all companies in the Stena AB group, with Sofia Hultsbo, Head of HR at Stena Rederi AB, as project manager.

Finally, I want to point out that this result is remarkable for Stena AB, that we achieve this together, in a large group with different companies in different industries. Our various partners in both business and other contexts notice this and encourage us in many ways, which is also very gratifying.

Dan Sten Olsson,CEO

“We are really so proud, the award is a recognition of our strategy for a completely digitized customer journey and the results we are now seeing. We have been inspired by prominent digitized industries outside of the real estate sector, which has led to us being able to help create a new standard for customer communication within our own industry. All of our 340 employees at Stena Fastigheter have been involved in this transformation,” says Cecilia Fredholm Vaarning, Head of sustainable business, Stena Fastigheter.

The decision to host this event was driven by our goal of attracting more women to the shipping industry and our shared commitment to promoting inclusion and diversity. Driven by our common belief, to be aware of how we are facing challenges, both professional and in our personal life, two external speakers was invited to shed light on this theme. They delivered insights of the human brain and equipped us with self-coaching tools, empowering each attendee to unlock their full potential

Setting the tone for the event, Elisabeth Lönne, Chief Commercial Officer at Stena Line, delivered a compelling opening speech, outlining Stena’s commitment to diversity and inclusion. The event was a success, providing a unique platform for women across the shipping sector to connect, collaborate, and share insights. The positive feedback we received underscores the industry’s recognition of our commitment to diversity and inclusion.

HERE’S WHAT YOU CAN EXPECT

Curated Resources: Explore the resources including trainings, thought-provoking talks, articles, book recommendations and more. Our intention is to equip you with skills that not only enhance your professional life but also enrich your personal growth journey.

An open invitation to co-create: This isn’t just another website; it’s a collaborative effort. We encourage everyone at Stena to share your ideas, insights, and knowledge. After all, our culture thrives on curiosity and growth.

Explore the Site: Navigate through different sections such as the main page for Learning-specific news and updates, the Knowledge Hub for insightful talks, and Available trainings for information on available trainings.

Manager support: On the site you’ll find content to develop yourself as well as your employees.

The learning landscape is at a high pace and to keep up we need to collaborate. We are adding content continuously, but we also invite you to share and contribute. Email us at  learning@stena.com.

REMEMBER

Learning is an investment in your future;
a journey we embark on together.

SKF manufactured ball bearings at its plant in Gamlestaden for more than 100 years, but the site has been largely abandoned for many years. In 2019, Stena Fastigheter bought the property to preserve the old buildings, but also to contribute to creating 1,000 new homes, both condominiums and rental apartments, as well as new offices and preschools.   

“It’s a fantastic unspoiled site six minutes from central Gothenburg and with its own tram stop,” says Bodil Löfmark, Property Development Manager at Stena Fastigheter Gothenburg. “Being bordered by the Säveån stream, there are plenty of attractive green spaces close to the water. There is already public transport, services and it is close to the city center, and the historical environment contributes to its fantastic look and feel,” says Bodil Löfmark, Property Development Manager at Stena Fastigheter Gothenburg.

PRESERVES A UNIQUE ENVIRONMENT THAT TOOK 100 YEARS TO CREATE – HISTORICAL VALUES  PRESERVED

The oldest factory buildings at the site date from 1907 and thousands of people have worked here. SKF is an important part of Gothenburg’s industrial history. SKF will be continuing its operations but in new premises on the south side of the Säveån stream, while Stena Fastigheter will be developing the former SKF site on the north side. An exhibition of the future area has been showcased to the public, providing neighbors and authorities with the opportunity to provide input. These comments are currently under review to determine if any adjustments are needed before the City of Gothenburg makes decisions regarding the detailed plan. After that, the actual construction work can commence. Some buildings will be demolished, and the site decontaminated by SKF. Meanwhile, Stena Fastigheter’s planning and preparations are ongoing, involving all staff in Gothenburg in a new and innovative way.

“Over 100 employees were on site in 2023, taking inventory of furnishings and structural components that we can reuse,” says Bodil Löfmark. “They submitted their ideas in an app, and a project group is now working to incorporate these so that we can reuse as much as possible in the new district.”

The goal is for the first tenants to be able to move into their new homes in 2027, and for the entire area to be completed around 10 years after the start of construction. Stena Fastigheter, in collaboration with the City of Gothenburg, will also construct a large urban park along the Säveån stream, and all homes will be on the banks of the stream.

“It’s really a privilege to work on an urban development project with such a fantastic history and where we can work to maintain its unique character while creating a new neighborhood,” says Bodil Löfmark. “With its history, we can do something special, and I am happy to be part of preserving the look and feel that was 100 years in the making.”

“The transformation underway in a classic Million Program* neighborhood is both unique and aggressive,” says Maria Säterdal, Property Manager, Stena Fastigheter in Fisksätra. “Fisksätra is situated by the sea in an environment of significant natural beauty. Giving the neighborhood a new lease on life with new buildings, while renovating, remodeling and adding to the existing buildings is a massive undertaking with a clear message: We believe in the neighborhood.”

ADDING NEW FORMS OF HOUSING

Stena Fastigheter is a long-term property owner in the areas where it owns and manages homes. In Fisksätra, the company presently manages 2,500 rental apartments, and now new forms of housing, such as nursing homes and condominiums, are being added to blocks otherwise dominated by rental apartments.

“This gives people who are willing and able to own their homes the opportunity to move to the neighborhood, as well as our present tenants the opportunity to stay, which is positive,” says Maria Säterdal. “Neighborhoods with mixed forms of tenancy have good social sustainability.”

In parallel, Fisksätra Centrum is being remodeled and expanded. Shops, restaurants, libraries and hairdressers are gradually moving into the modern urban center. In addition, new infrastructure, roads, water supply and waste collection facilities are being built. The municipality is investing in a new multi-use arena and Region Stockholm is upgrading the Saltsjöbanan suburban rail line with double track.

“When we enhance neighborhoods, we also gain new opportunities, both for our business and for our tenants and customers,” says Hakar Ahmad, Project Manager for Stena Fastigheter’s new production. “Here we’ve worked with the municipality to calibrate an end-product with urbanity in mind. Fisksätra will be safe and vibrant, enabling ample opportunities for interaction.” 

WHAT MAKES WORKING ON THIS URBAN DEVELOPMENT PROJECT ESPECIALLY REWARDING?

“As always, what’s most rewarding is working with people, and above all with my colleagues,” says Hakar Ahmad. “I also find it stimulating to see how our overall approach to Fisksätra simplifies everyday life for so many people. By investing in a mix of commercial and residential properties, we’ll also be able to meet the needs of our tenants as their life circumstances evolve. I think this is a good example of how thoughtful urban development works in practice.”

“Through the people who live and work here, in both the existing and new buildings, Fisksätra is taking a big step towards the sustainable society of the future in overcoming destructive, unsustainable forces. Being part of this development is both fascinating and extremely exciting,” says Maria Säterdal in closing.

In recent years, Stena Recycling’s inbound customers have voiced a clear need for support in their transition from a linear way of thinking and operating, to a more circular way. The new service is designed to meet this by providing data on the CO₂ emissions in their value chain.

“The shift in our customers’ demands is closely tied to the increased laws and regulations, but also an increased interest and commitment to issues related to our climate. One area that is particularly interesting for our customers is to understand how much GHG (Green House Gas) emissions are released from what we produce, consume, and – recycle. In particular, the CO₂ emissions – which most often is the largest part – are of the highest interest,” says Katarina Cornelius, Sales & Business Development Director, Stena Recycling.

A SERVICE THAT CREATES VALUE

Sustainability regulations and reporting is an area that customers have an increasing interest in. 

Having access to the right data is therefore of the greatest importance. Companies that are committed to the Science Based Target initiative, need to report their suppliers’ CO₂ footprint (Scope 3). This is something that is not always easy to find out but Stena CO₂ Impact Plus service is designed to help customers report their Scope 3 emissions. The LCA method used for calculation is aligned with international standards such as ISO 14001,
ISO 14044, EN15804, and the GHG Protocol and has been third party assured by RISE (Research Institutes of Sweden). 

CREATED WITH THE CUSTOMER IN FOCUS

The service has been co-created together with some of
Stena Recycling’s largest customers to fully understand their needs. A successful pilot was held during the autumn where 10 customers from different industries were given access to the service.

Today, we pay consultants to calculate emission data solely based on waste volumes and literature. Stena CO₂ Impact gives us the possibility to cut these consultant costs AND at the same time get better data!”

Retail customer

ROLLOUT

The service has been welcomed with high interest in all
Stena Recycling’s markets and is well-equipped to be sold online and will be launched as a groupwide digital service. CO₂ Impact Plus is sold via the service platform (formerly known as the customer portal) and will be rolled out gradually over a 12 months period to customers in Sweden, Denmark, Norway, Poland and Finland.

“There is a significant demand for secure, traceable, and circular services. Stena Confidential gives us the right conditions to continue developing market-leading services that customers demand”, says Kristofer Sundsgård, CEO of Stena Metall.

“We see an increasing demand for confidential services due to more complex legislation, and a growing need for organisations to ensure their information security. This gives us a strong belief that there are the right conditions to take a position in the market, and through cooperation with Stena Recycling we have good opportunities to help customers in all markets”, says Linus Larsson, MD of Stena Confidential.

The goal of Stena Confidential is to be the obvious choice for secure and traceable destruction, and to be at the forefront of circularity in classified material.

“As security experts, we create customised solutions adapted to the needs of different businesses. We collect and handle sensitive material with the utmost care until the information is completely deleted and the physical material is recycled and refined. We also have efficient logistics solutions that contribute to lower CO₂ emissions”, says Linus Larsson.

The core business is to assist customers with the secure destruction, deletion, and handling of confidential information. But as society becomes more and more digi-talised, Stena Confidential’s business is also developing.

“To build our position, we put a lot of resources into product development of our services with a focus on digitalisation. Through this, and by gathering our offer under one brand, we create a very strong range of products and services”, says Linus Larsson.