SUSTAINABILITY REPORT 2018 - Fincantieri
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SUSTAINABILITY
REPORT
ENVIRONMENT
AND CLIMATE
2018
Consolidated Non-Financial Statement pursuant to Legislative Decree No. 254/2016
CHANGE
CUSTOMERS
AND PRODUCTS
RESEARCH
AND
INNOVATION
SUPPLIERS
QUALITY
PEOPLE
COMMUNITY
GOVERNANCE
FINCANTIERI GROUP SUSTAINABILITY REPORT 2018 Consolidated Non-Financial Statement pursuant to Legislative Decree No. 254/2016
FINCANTIERI GROUP FINCANTIERI GROUP
I NDICE
LETTER FROM THE CHIEF PEOPLE 61 COMMUNITIES 133
EXECUTIVE OFFICER 4 People in numbers 63 Our initiatives 135
Recruitment policies, management Fincantieri Foundation 141
THE FINCANTIERI PLANET 6 and enhancement of human capital 65
Training and development 66 ENVIRONMENT AND CLIMATE
THE FINCANTIERI GROUP 9 Diversity and equal opportunities 69 CHANGE 143
Our history: the bond with the sea 12 Health and safety 71 Environmental management system 144
Group overview 14 Company welfare 75 Environmental aspects 146
Vision, mission and values 16 Industrial relations 76 Environmental investments 152
Business model 17 Remuneration 77
Economic value for stakeholders 19 ANNEXES 155
Economic satellite businesses 20 RESEARCH AND INNOVATION 79 Methodological note 156
Memberships and participation in A clear vision for 2030 80 Description of material topics 160
associations 22
Structured processes for innovation 81 GRI content index 162
The role of Cetena 83 Independent auditors’ report on the
SUSTAINABILITY FOR FINCANTIERI 25 Widespread network 83 consolidated non-financial statement 174
Sustainability governance 26
Main projects 88
Our stakeholders 28
Our Sustainability strategy 31
CUSTOMERS AND PRODUCTS 95
Materiality analysis 32
Our customers 96
Sustainability in risk mapping 33
Product portfolio 100
Charter of Sustainability Commitments 36
Eco-sustainable design 110
Sustainability Plan 38
Quality policy and assurance 112
Customer satisfaction and retention 115
ETHICS AND RESPONSIBLE BUSINESS
MANAGEMENT 43
Corporate Governance SUPPLY CHAIN 117
and Remunerations Policy 44 Characteristics of the supply
System of internal control and risk chain 119
management 51 Supply chain management 119
Our policies and management tools 54 Characteristics and management
Cyber Security 58 of the supply chain of foreign
Privacy protection 58 companies 127
2 3
FINCANTIERI GROUP FINCANTIERI GROUP
satisfaction and loyalty, continuous dialogue this multimedia video course is for those primarily by liquid natural gas. Along
with and support to local communities working in the Group’s Italian shipyards the path forged by our commitment to
and reduction in environmental impact, and mainly to all the employees of external innovation, I want to highlight that, as part
contributing to the fight against climate companies, a catchment area that numbers of the agreement between the University
change. approximately 30,000 people, women of Trieste, Fincantieri and Intergraph, we
and men of various nationalities and opened a new integrated ship design
I can therefore report that, in 2018, our ethnicities, whose contribution cannot be laboratory, a multidisciplinary environment
desire to be a responsible Group - one that disregarded. Fincantieri for the Future and which is the only one of its kind in Italy.
promotes policies to create ever more value Towards Zero Accidents, two fundamental
for all our stakeholders - has strengthened campaigns launched in the past and In conclusion, we are aware that the
even further, with a commitment that is concerning, respectively, the employee Company’s prestige and image is
expressed, primarily, in the sustainable development process and improvement of measured today by its ability to combine
management of our business in the working conditions as well as a reduction in professionalism and quality with strict
long term. Sustainability is not just an accidents, have continued and their results respect for the law and expectations
opportunity but for Fincantieri it is a are ever more significant. In addition, the regarding the protection of local
genuine mission to represent a model of Memorandum of Understanding signed communities. The values and principles we
excellence. with the Ministry of Education, Universities believe in - based on an ethical approach
and Research aimed to strengthen the to carrying out our business - are laid out
LETTER FROM THE CHIEF EXECUTIVE OFFICER Let’s look into some of the most important relationship between the system of higher in our Code of Conduct and disseminated
actions developed last year in more detail. education and technical training and the to all levels and all positions. Our signing
Last year we published our first To give the appropriate importance to world of work in the shipbuilding industry. of the National Framework Tender Protocol
Sustainability Report in which we described projects and results, our website has a with the Ministry of the Interior best
our corporate social responsibility new “Sustainability” section, where the Our commitment to protecting the outlines this corporate vision.
initiatives, an aspect that is garnering overriding themes are social responsibility environment will also continue to be of the
increased significance in long-term value towards both the environment and to highest possible level. The strategic choices
creation. In 2018, we made important human resources. The latter in particular, for and business processes adopted at all
strides along this virtuous path, notably the a large manufacturing company like us, are levels, in terms of project and systems, are
publication of our Sustainability Plan - a in every respect our most important assets. in line with the principles of short, medium
major step in spreading and consolidating a Talented women and men from all over the and long-term environmental sustainability.
sustainability culture. world represent the Group’s inestimable This begins with a preventive approach and
potential for knowledge and innovative continues with responsible management of
The Plan is the best expression of capabilities. This is demonstrated by the the production chain and raising awareness
Fincantieri’s strategic vision. Its integration three Employment Protocols we signed this among all those involved.
with the Business Plan will enable us year with the Friuli Venezia Giulia, Liguria
to manage our response to the market and Campania regions, aimed at promoting In this light, the studies and research
challenges of today and tomorrow, employment and aiding the socio-economic carried out by the Company on innovation
combining business growth and financial development of these territories where we are of paramount importance. Some of the
stability in line with the principles of work. A far-reaching safety project was agreements we have signed in the cruise
social and environmental sustainability. launched in January, dedicated to two ship segment are proof of this. In particular,
Our increased commitment concerns factors that have always been considered two of our projects, focused on reducing
GIUSEPPE BONO
the promotion of a responsible supply strategic for the Company: the well-being environmental impact, have caught the Fincantieri Chief Executive Officer
chain, employee involvement, constant of all employees and the maintenance interest of shipowners such as Tui Cruises
improvement of health and safety at work, and improvement of all the environments and Princess Cruises. In cooperation with
support for technological innovation, with which they interact. “Together in these companies, we will develop new
maintenance of high levels of customer safety” was started on these premises; classes of next generation ships powered
4 5
FINCANTIERI GROUP FINCANTIERI GROUP
THE FINCANTIERI PLANET
SHIPYARDS AND DOCKS MAIN SUBSIDIARIES
EUROPE EUROPE ASIA
ITALY ITALY CHINA
Trieste
+ 7,000 FINCANTIERI S.p.A. Fincantieri (Shanghai) Trading
Ships designed CSSC - Fincantieri
Monfalcone CETENA
Marghera € 5.5 bln
and built + 230 € 122 mln Delfi Cruise Industry Development
Revenues Years of history
Sestri Ponente PRINCIPAL Research, Seastema INDIA
development and
Genoa Western
innovation Isotta Fraschini Motori Fincantieri India
shipbuilder
Riva Trigoso - Muggiano Fincantieri Oil&Gas Vard Electrical Installation
Ancona Seaf and Engineering (India)
Castellammare di Stabia Marine Interiors UAE
Palermo Fincantieri SI Etihad Ship Building
NORWAY Fincantieri Infrastructure QATAR
Aukra Issel Nord Fincantieri
Brattvaag Seanergy A Marine Interiors Services Middle East
Brevik Company SINGAPORE
Langsten NORWAY Vard Holdings
Søviknes VARD Group Vard Shipholdings Singapore
ROMANIA Vard Design JAPAN
Braila Vard Piping FMSNA YK
Tulcea Vard Electro
Vard Accomodation
AMERICAS
Seaonics
ASIA USA
SWEDEN
VIETNAM Group Holdings
Fincantieri Sweden
Vung Tau Fincantieri Marine
+19,000 POLAND
Systems North America
+650,000 Employees Seaonics Polska
AMERICAS Hours of training 55% other countries Fincantieri Services USA
- 45% Italy Fincantieri USA
USA provided
Marinette € 33.8 bln Vard Marine US
Sturgeon Bay Total backlog CANADA
Green Bay Vard Marine
+253,000tCO2e
BRAZIL BRAZIL
GHG emissions
20 1 98
st
Suape Fincantieri do Brasil
Shipyards - Total Player in Vessels in 4 Participações
area of 5.4km2 diversification order book Continents
and innovation +5,000
Suppliers in Italy OCEANIA
alone
AUSTRALIA
Fincantieri Australia
6 7
FINCANTIERI GROUP FINCANTIERI GROUP
T HE FINCANTIERI
GROUP
OUR HISTORY: THE BOND WITH THE SEA
GROUP OVERVIEW
VISION, MISSION AND VALUES
BUSINESS MODEL
ECONOMIC VALUE FOR STAKEHOLDERS
ECONOMIC SATELLITE BUSINESSES
MEMBERSHIPS AND PARTICIPATION IN ASSOCIATIONS
8 9
FINCANTIERI GROUP FINCANTIERI GROUP
A global Group that is the only one components and after-sales services. As at 31 December 2018, 71.64% of SHAREHOLDERS STRUCTURE
in the world with roots in Italy and The Group, which has its headquarters in Fincantieri’s share capital of 862,980,725.70
fruits around the world Trieste, has built more than 7,000 vessels euros is held, through the subsidiary Fintecna
in its over 230 years of history. With 19,274 S.p.A., by Cassa Depositi e Prestiti (CDP) INDISTINCT MARKET FINTECNA S.p.A.
Quoted on the Milan Stock Exchange, employees, including more than 8,600 S.p.A., a company controlled by the Ministry
Fincantieri is one of the world’s largest in Italy, and 20 shipyards spanning 4 of Economy and Finance. The remainder
shipbuilding groups and number one in continents, Fincantieri is now the leading of share capital was distributed between a
28.08%
terms of diversification and innovation. Western shipbuilder. Its customers include number of private investors (none of whom
It is leader in cruise ship design and the major cruise operators, the Italian held significant interests of 3% or above)
0.28 %
construction and a reference player in all and US Navy, as well as several foreign and own shares (of around 0.28% of shares FINCANTIERI S.p.A
high-tech shipbuilding industry sectors, Navies, and it is a partner of some of the representing the share capital). (OWN 71.64 %
SHARES)
from naval to offshore vessels, highly main European defence companies within The composition in terms of shareholder
complex special vessels and ferries to supranational programs. structure is shown below.
mega yachts, as well as in ship repairs and Fincantieri bases its technological and
conversions, the production of systems and operational excellence on specific strengths.
CHARACTERISTICS OF THE % sharecapital
SHAREHOLDER STRUCTURE YES/NO
Shareholders’ agreements No -
Shareholding threshold for the
submission of slates for the - 1%
appoinment of corporate
System bodies and officers
Technological
integrator
leadership
capabilities
OUR
STRENGTHS
Business
Tailor made diversification
products
Wide portfolio of
Flexible & global
clients & products
production network
10 11
FINCANTIERI GROUP FINCANTIERI GROUP
OUR HISTORY: THE BOND WITH THE SEA the Amerigo Vespucci, the educational ship ship. Within this path of constant growth natural bond that defines it, along with the
of the Italian Naval Academy, and the trans- and development, the Group’s calling-card courage to change combined with tradition,
The Fincantieri Group has produced Atlantic Rex, winner of the Blue Riband for continues to be, as it was two centuries experience and innovation.
legendary ships in its shipyards, for example the fastest Atlantic crossing by a passenger ago, an in-depth knowledge of the sea, a
The Group moves forward with a strategy of further diversification and internationalization:
2008 • At the end of 2008 it acquires the Manitowoc Marine Group in the United States, now
known as Fincantieri Marine Group, entering the United States Defence market.
2013 • Etihad Ship Building LLC is founded, a joint venture for the construction and repair of
The top modern Italian shipbuilder begins its
1780 activities in Castellammare di Stabia. ships for the Navies in the Middle East.
• In 2009 Seastema S.p.A. is founded, with ABB, serving the Automation Industry.
• In 2011 an operating unit dedicated to logistic and after-sales support is established to
meet the growing demand for these services.
• The mega yachts business unit delivers the first 134 metre mega yacht, winner of the
2012 World Superyacht Award.
Fincantieri is established as • January 2013 purchase of the Norwegian Group VARD, publicly traded on the Singapore
a finance company to control 1959 Stock Market, among the world-leaders in the construction of top-tier offshore support
the main Italian shipyards. vessels.
Fincantieri is converted intoan operating company. 1984 2014 The Group is traded in the Italian Stock Market and the company Marine Interiors is founded,
a company specialized in the design, refitting, and delivery of “turnkey” cabins.
1984
The Company enters the cruise ship The following are founded:
business and delivers its first vessel, the 1990s • Fincantieri SI, a company that designs,
Crown Princess, to the Carnival Group. produces, and supplies innovative industrial 2015
electric, electronic and electromechanical
1990 integrated systems.
• Clear recovery of operating and economic
• Fincantieri (Shanghai) Trading Co. Ltd.,
The Destriero sets the record, which Chinese branch, with headquarters in Shanghai,
2016 performance in line with the objectives
of the 2016-2020 Business Plan.
stands today, for the fastest Atlantic 1992 to ensure the Group’s presence
• Signature of a major agreement with China State
Ocean crossing without refuelling. in the Chinese market.
Shipbuilding Corporation (CSSC) for the formation
of a joint venture aimed at developing the Chinese
• Signature of Memorandum of Agreement with CSSC and Carnival Corporation cruise market.
• Establishment of Fincantieri Australia, with
for the construction of two cruise ships, with an option for 2017 headquarters in Canberra, to manage all activities
four more for the Chinese market.
2000 The Group strengthens its strategy for growth, expanding its business boundary
• Acquisition of more shares in the VARD Group with an increase from 55.63% to related to the tender to win the maxi-order from the
into three new business areas: Royal Australian Navy.
2007 • Mega Yachts, creating the Fincantieri Yachts product line, focused on the
79.74% as of 31st December, 2017.
• Fincantieri and Ferretti Group sign a cooperation agreement to develop • Endorsement of the CDP (Carbon Disclosure Project).
design and construction of large luxury yachts. • Definition with the main trade unions of
commercial and industrial synergies.
• Ship repairs and conversion, through the expansion of its vessel transformation the terms for renewing the supplementary
• Signature of National Legality Framework Agreement.
and conversion business. labour agreement applying to all employees of
• Various R&D agreements are signed with ENI (Energy Systems), GE Power
• Systems and components with the aim of strengthening the business by acting FINCANTIERI S.p.A. and some subsidiaries.
(Emissions Reduction), and Mapei (Chemical Products).
as a “systems integrator” for the design and construction of turnkey solutions,
• ISO/IEC 27001:2013 and ISO 9001:2015 certifications
offering products to customers in both the naval and industrial sectors.
received from RINA Services.
• The share purchase agreement acquire 50% (+1% on loan) of the • A cooperation agreement is signed between Fincantieri and the Food • An order is received from TUI Cruise and an agreement is signed with • The VARD group completes its de-listing from the Singapore Stock
capital of STX France is signed. Bank of Liguria to donate food surpluses to people in need. Princess Cruises for the construction of new-generation cruise ships Exchange. After the de-listing, Fincantieri holds a 97.22% interest.
• Isotta Fraschini Motori is awarded Best Italian Client 2017 of Lloyd’s • The “Together in safety” programme is started, a multimedia video powered by LNG (Liquid Natural Gas). • Fincantieri Group’s first Sustainability Plan is approved.
Register for an innovative approach in the relationships between the course for workers. • An agreement between the University of Trieste, Fincantieri and
company and supply chain. • Fincantieri Group’s first Sustainability Report is approved by the Board Intergraph, for the new integrated ship design laboratory.
• Three Employment Protocols are signed with the Friuli Venezia Giulia, of Directors. • An agreement is signed between the State Police and Fincantieri to
Liguria and Campania regions. combat cyber crime.
12 13
FINCANTIERI GROUP FINCANTIERI GROUP
GROUP OVERVIEW companies with headquarters in Italy and headquarters in Norway, Fincantieri Marine the Singapore Stock Market on 2 November
around the world, and adopts an integrated Group LLC, Fincantieri Marine Systems 2018. After the de-listing, Fincantieri holds a
Over the years, Fincantieri’s organization has production model, designed to achieve North America Inc., Isotta Fraschini Motori 97.22% interest.
continuously evolved to adapt the Group’s excellence. S.p.A., Marine Interiors S.p.A. and CETENA Below is a diagram which highlights the
structure to its strategies and to respond to Fincantieri has 70 subsidiaries, 15 of which are S.p.A. The main organizational changes that macro-organization of the Group and the
customer requirements in a timely manner. Italian and 55 of which are foreign. The main occurred during year concerned the VARD main companies by business area.
Today the Group consists of a number of ones are: VARD, a group with operational group, which completed its de-listing from
SEGMENTS
SHIPBUILDING OFFSHORE AND SPECIALIZED EQUIPMENT, SYSTEMS AND SERVICES OTHER
VESSELS
BUSINESS AREAS
Cruise ships Ferries Naval Vessels Mega Yachts Offshore and Systems and Services
Contemporay Cruise ferry Aircraft Carriers Mega yachts > 70 m Specialized Vessels Components Ship repairs
PRODUCT PORTFOLIO
Premium Ro-Pax Destroyers Drilling units Cabins Refitting
Upper Premium Dual fuel ferries Frigates Offshore support vessels Public areas Refurbishment
Luxury Corvettes (AHTS-PSV-OSCV) Electrical, electronic and Conversions
Exploration/Niche Patrol vessels Specialized vessels electromechanical integrated Product lifecycle management
Aquaculture systems
Expedition cruise vessels Amphibious ships • Integrated logistic support
Offshore Wind Automation systems
Logistic support ships • In-service support
Entertainment systems
Multirole and Research Vessels • Refitting
Stabilization, propulsion,
Special vessels positioning and power • Conversions
Submarines generation systems Training and assistance
Steam turbines
Steel structure for large scale
projects
FINCANTIERI S.p.A. Fincantieri Marine Group Holdings Inc. FINCANTIERI S.p.A. FINCANTIERI S.p.A. FINCANTIERI S.p.A.
• Monfalcone FMG LLC Fincantieri Oil&Gas S.p.A. • Riva Trigoso • Arsenale Triestino San Marco FINCANTIERI S.p.A.
• Marghera • Sturgeon Bay VARD Group AS Seastema S.p.A. • Bacino di Genova
MAIN SUBSIDIARIES/ASSOCIATES/JOINT VENTURES
• Sestri Ponente Marinette Marine Corporation LLC • Aukra Seaf S.p.A.
• Integrated Naval Shipyard Navale Riva Trigoso and Muggiano • Marinette • Brattvaag Isotta Fraschini Motori S.p.A. Delfi S.r.l.
• Ancona ACE Marine LLC • Brevik • Bari Issel Nord S.r.l.
• Castellammare di Stabia • Green Bay Vard Promar SA Fincantieri SI S.p.A. FMSNA Inc.
• Palermo Fincantieri India Pte Ltd. • Suape Marine Interiors S.p.A. Fincantieri Services Middle East LLC
VARD Group AS Fincantieri do Brasil Partecipacões SA Vard Vung Tau Ltd. M.I. Galley S.r.l. Fincantieri Services USA LLC
• Langsten Fincantieri USA Inc. • Vung Tau Fincantieri Infrastructure S.p.A.
• Søviknes Fincantieri Australia PTY Ltd. Vard Electro AS Fincantieri Sweden AB
Vard Tulcea SA Fincantieri (Shanghai) Trading Co. Ltd. Vard Design AS Unifer Navale S.r.l.
• Tulcea Etihad Ship Building LLC. Vard Piping AS
Vard Braila SA Orizzonte Sistemi Navali S.p.A. Vard Marine Inc.
• Braila CSSC - Fincantieri Cruise Industry Development Ltd. Seaonics AS
Vard Accommodations AS
Cetena S.p.A.
14 15
FINCANTIERI GROUP FINCANTIERI GROUP
VISION, MISSION AND VALUES The Fincantieri value system is a large BUSINESS MODEL
design, which includes a global network of
The Vision, Mission and Values of Fincantieri connections of skills and knowledge, at sea The products made by the Group feature a
are the supporting pillars of the Group and on land. high level of personalization and, in many
culture. The values are fundamental guidelines, cases, are prototypes with cutting-edge
cornerstones of the business, recognized technological solutions.
and adopted by all who work in the Group, As such, they require significant efforts in
VISION MISSION
in individual, corporate and team actions. terms of design, procurement, production,
We aspire to become world leaders in all sectors Technological development and continuous They mark out a shared course into an planning and order management.
that require highly advanced solutions, setting improvement are the goals that we have set for increasingly sustainable, technological and As part of its activities, the Group acts as
ourselves still further apart by our diversification ourselves, and we are determined to pursue them. high performance future. a systems integrator, usually acting as the
and innovation work. Our every action, project, initiative or decision
After defining the values and as part of the prime/general contractor, managing the
The Sea Ahead: all those who work for the is based on principles and guidelines that are
project Fincantieri for the Future, 2018 saw project for vessel construction as a whole
Fincantieri Group steer for this course: talented implemented across the Group: strict observance
men and women working responsibly to of the law, labour protection and protection of the creation of the Group’s Behaviour Pact. and taking on responsibility for this.
help develop our idea of a future increasingly the environment, safeguarding the interests of Creating a behaviour pact has meant clearly Typically, while there are differences due
characterized by technology, performance and our shareholders, employees, clients, trade and defining the key behaviours that each to the strategic business area and product
sustainability. financial partners, local communities and groups, person must adopt every day in order to type, for each order the Group directly
creating value for every stakeholder. make the values stronger, more embraced develops project management, design,
and experienced at all levels. hull procurement and manufacture, while
VALUES The contributions of colleagues have its role mainly involves integration and
been collected in every office and in every coordination of a qualified network of
shipyard with the aim of creating a shared expert suppliers for the preparation of
PEOPLE document, in order to build the future of systems, accommodation and, for military
Everything we do focuses on enabling the Company together in a tangible and vessels, weapons systems. The need for
the growth, enhancement and training
of people, based on the daily attention effective way. continuous research into methods to reduce
we pay to the quality of our work and A campaign to communicate the Behaviour costs and development and construction
our relations with others
INNOVATION Pact to employees will be launched in the times for vessel orders has led the Group to
We aim at continuously
improving our products and first months of 2019, at the end of a project develop a business model characterized by
working methods through that lays the foundations of the Group’s high flexibility and integration of the main
technological innovation
identity, on which the new organizational business processes as well as cutting-edge
culture will be based. technological solutions. In terms of business
FINCANTIERI model the Group has adopted a make or
SAFETY buy strategy for each step of development
We ensure high levels
of occupational safety and construction of the vessel order, with
and health the objective of keeping core skills and high
value-added activities within the Group and
outsourcing to qualified suppliers specialist
activities that are low value-added or non-
essential.
CUSTOMER FOCUS Generally, the Group contracts during all
We meet customer INTEGRITY
requirements and we We take responsibility for our actions stages of development and construction
rigorously honor our and we put great care into our work, of the order, especially for design and
commitments adhering to strict principles of ethics,
loyalty and professional fairness production areas, also to ensure effective
and efficient management of fluctuations
in the order backlog and optimize
16 17FINCANTIERI GROUP FINCANTIERI GROUP
saturation of the Group workforce. are: (i) contract acquisition; (ii) project ECONOMIC VALUE FOR STAKEHOLDERS value generated and distributed indicator
The main processes into which the Group management; (iii) design; (iv) procurement; (201-1) in the GRI Sustainability Reporting
value chain is divided, described below (v) production; (vi) guarantee and after The Group believes in an economy that is Standards (2016), represents the economic
and illustrated in the following diagram, sales; (vii) financing. a system of relations based on trust and impact of the Group’s business for the benefit
transparency, an integrated dynamic network of the main stakeholder categories. In terms
of cross-cutting communities, built over of Economic Value distribution, it is important
BUSINESS MODEL: SUMMARY DIAGRAM Support processes Core processes time to create and exchange value. In this to observe that the impacts produced are
Timeline not
to scale(1)
Pre-contract stage
(3-4) Contract
Post-contract stage
(10-12) First sheet cut (10-13) Launch (8-11) Delivery (12-24) context, the distribution of Economic Value, mostly limited to the local area, specifically
Contract
Tender/negotiations
calculated according to the direct economic with reference to personnel and suppliers.
acquisition
Project Order
management Management Project management
Basic design
Functional design ITEMS DESCRIPTION 2017 2018 VAR 2018/2017
Design 3D Model ECONOMIC VALUE euro/million 5,047 5,513 9.2%
GENERATED DIRECTLY
Development design
a) Revenue Sales revenue euro/million 5,020 5,474 9.0%
Management of changes
b) Finance income Interest income and return on euro/million 27 40 47.5%
Procurement Procurement equity investments
c) Capital gains/losses on Business profits euro/million - (0) -
Sheet cutting Pipe construction business profits
DISTRIBUTED ECONOMIC euro/million 4,804 5,266 9.6%
Pre-fabrication Pre-outfitting
Production VALUE
Pre-assembly a) Operating costs Payments to suppliers euro/million 3,734 4,089 9.5%
Assembly Outfitting b) Cost of personnel Payments to employees euro/million 912 952 4.3%
Guarantee and Guarantee and c) Dividends Payments to suppliers of euro/million - 17 -
after sales after sales
capital (shareholders)
Documentation
ECA commitment (2) Support for export credit negotiation
for draw down d) Interest paid and financial Payments to suppliers of euro/million 115 141 22.3%
Financing costs capital (banking institutions)
Financing of working capital
e) Duties and taxes Payment of duties, taxes and euro/million 40 64 60.8%
other financial and legal fees
1
Indicative timing for the Cruise Ship market.
2
Export Credit Agency commitment, often required as a condition for the validity of the vessel contract. f) Donations to associations Community investments euro/million 3 3 26.1%
ECONOMIC VALUE Calculated as the difference euro/million 242 247 2.2%
RETAINED between the economic value
For more information on the Business Model, see the website www.fincantieri.com/en/group/business-model generated and the economic
value distributed
REVENUES BY OPERATING COUNTRIES
2017 2018 VAR 2018/2017
Italy euro/million 3,642 3,989 9.5%
Norway euro/million 670 817 22.0%
United States euro/million 498 467 -6.2%
Brazil euro/million 121 135 11.4%
Other countries euro/million 89 66 -25.0%
Total euro/million 5,020 5,474 9.0%
18 19FINCANTIERI GROUP FINCANTIERI GROUP
ECONOMIC SATELLITE BUSINESSES on average € 2.7 to € 3.6 billion of business
volume for the Italian System:
Thanks to a competitive production 29,200
Employed Employed 79,900
model that is strongly linked to the Italian • directly generated by Fincantieri: about € by Fincantieri by Fincantieri
production network, Fincantieri generates 600 to 800 million; companies subcontractors
additional impact on the national economy. • additional through stimulation of satellite
businesses: about € 2.1 to 2.8 billion.
50,700
With the current record level of order
Employed in economic
+ =
PRODUCTION
PRODUCTION backlog, over the next few years, Fincantieri sectors correlated
MODEL SUPPLY IMPACT OF 32,000
CHAIN FINCANTIERI will have, due to the multiplier effect of its with the consumption
(Make or buy) ON THE ITALIAN
ECONOMY activities, an average annual impact of 1% on of those directly
employed and indirectly
the Italian Gross Domestic Product (GDP). employed (first-tier) by
The impact on employment can be 8,650 Fincantieri
calculated by initially considering direct
According to a Censis study, the Fifth Report employment, that is direct jobs at
Direct employees Direct + Indirect Total Direct + Indirect Employment induced Total Employment
on the Economy of the Sea 2015, every euro Fincantieri in Italy, to which first-tier indirect in Italy 1st tier 1st and 2nd tier through consumption
invested in shipyards produces a value 4.5 employment is added, that is jobs at
times greater, mostly benefitting the area Fincantieri contractors, as well as second- ~ 3.7x ~ 5.5x ~ 3.4x ~ 8.9x
where it is located, through the involvement tier employment, represented by jobs at
of a wide and diverse network of companies, sub-contractors. In turn, it is necessary to
many of which are highly specialized small add to this final employment figure the
or medium-sized enterprises. satellite business jobs due to consumption MULTIPLIER
Each cruise ship built by Fincantieri develops by the families of all employees.
Source: FC estimates based on Censis data.
From the graph it can be seen that: Considering both the effects upstream and
downstream of its production organization,
• the approximately 8,650 direct resources Fincantieri has a significant employment
at Fincantieri activate in Italy more than multiplier effect of about 8.9, confirming
50,700 employment units in industry the broad impact the Company has on the
(considering contracts and subcontracts) in the country’s economic system.
manufacturing industry;
• adding to this the induced effect of family
consumption, employment stands at around
79,900 units.
20 21FINCANTIERI GROUP FINCANTIERI GROUP
MEMBERSHIPS AND PARTICIPATION IN national and international associations, ASSOCIATION/ORGANIZATION GOVERNING BODY
ASSOCIATIONS stimulating, along with the other associates, Wisconsin Safety Council - Organization of the State of Wisconsin that promotes safety Member
effective, systematic action in the areas of at work
To support the development of its business, research and development and promotion of Society of Naval Architects & Marine Engineers (SNAME) - Association promoting Member
education, development of subjects related to the marine industry
Fincantieri S.p.A. and its subsidiaries the various stakeholders’ interests.
Marinette & Menominee Chamber of Commerce - Local Chamber of Commerce for the Executive committee
participate in the governance of various
economic development and growth of the Marinette area
Marinette & Menominee Area Community Foundation (MMACF) - Non-profit Member
organization supporting growth in the community by identifying investment opportunities
ASSOCIATION/ORGANIZATION GOVERNING BODY
Surface Navy Association (SNA) - Association of all government, industry and academic Chairman
Confindustria FVG - Industrial association Chairman entities with interests in surface naval vessel activities
Confindustria Venezia Giulia- Industrial association Board of Administration National Navy League - Non-profit organization that supports those who provide services Collaboration
at sea: the Navy, Marine Corps, Coast Guard and Merchant Navy of the United States of
Confindustria, Genova, La Spezia, Pordenone, Venezia - Industrial association Vice-Chairman
America
Confindustria Ancona - Industrial association Council member
National Shipbuilding And Ship Repair Research (NSRP) - Management of national Collaboration in research
Confindustria Napoli - Industrial association General Council research and development funding for the shipbuilding industry initiatives
Federmeccanica - Association of mechanical engineering industries Vice-Chairman New North - Non-profit organization for business and economic development and the Steering Committee
promotion of cooperation between leaders in the public and private sector of the 18
ASSONAVE - Italian Association of the Naval Engineering Industry Chairman
counties in Northeast Wisconsin
Federazione del Mare - Italian maritime cluster Steering Committee National Infrastructure Advisory Council (NIAC) - The advisory council that advises Council Member
Club Diplomatia - Association Steering Committee the President, through the Secretary of Homeland Security, on the security of critical
infrastructure sectors and their IT systems
Institute of International Business (IAI) Steering Committee
New Manufacturing Alliance - A group of manufacturers working with educators, Collaboration
Aspen Institute Italia - Association Executive committee chambers of commerce and state organizations to promote manufacturing in the
Institute for the study of international relations (ISPI) Chairman Northeast of Wisconsin
Assonime - Association of Italian Joint-Stock Companies Council member North Coast Marine Manufacturing Alliance - Association of ship, boat and yacht Steering Committee
manufacturers in the region to promote, develop and grow the industry
Euroyards - European association for the promotion of shipyard interests Executive committee
University of Wisconsin Marinette Foundation - Independent non-governmental Steering Committee
Vessel For The Future - European association for research in the field of vessels Vice-Chairman organization with the aim of raising, investing and distributing funds for the benefit of the
Blue Italian Growth National Technology Cluster (NTC BIG) Chairman University of Wisconsin-Marinette
European Council for Maritime Applied R&D (ECMAR) Chairman Shipbuilders Council of America (SCA) - National trade association representing the US Member
shipbuilding industry
Cooperative Research Ship (CRS) Board of Directors
Governor-Elect Tony Evers Transition Committee - Committee created with the aim Jan Allman, President
Federation of Italian companies for Aerospace, Defense and Security (AIAD) Steering Committee to support the Governor-Elect Tony Evers. Members of the committee are tasked with and CEO of Fincantieri
Atena (FVG) - Italian Naval Technology Association Steering Committee sharing contacts and ideas for the Evers administration Marinette Marine,
member of the
Mare Tc FVG - Technology Cluster (Monfalcone) Chief Executive Officer Committee
Trasporti Italia 2020 National Technology Cluster (NTC) Committee of Chamber of Commerce and Industry Braila - Promotion in the area of Braila of Romanian Member
strategic direction and companies abroad
management
Asociația Constructorilor Navali din România (ANCONAV) – Association of Romanian Member
Liguria District for Marine Technology (La Spezia) (DTML) Board of Directors shipbuilders
Liguria Technology District for Integrated Intelligent Systems (SIIT) Board of Directors CONPIROM - Confederation representing the interests of employers with the public Chairman
authorities, trade unions and other local and foreign organizations
Campania Technology District for Polymeric Material Engineering (IMAST) Board of Directors
The Norwegian Society for Electric and Automatic Control (NFEA) - Non-profit Main Sponsor
Sicily Technology District for Naval Transport (NAVTEC) Board of Directors association focused on the electrical and automation sectors
Nautica Italiana - Association affiliated with the Altagamma Foundation Vice-Chairman DNV GL Forum - Integration of local Ship Design Environment in Poland Member
Virginia Ship Repair Counsel - Association of companies in Virginia involved in ship repair Member Norsk Industri Maritim (The Federation of Norwegian Industries) - Trade association Member
that dialogues with institutions to ensure the adoption of policies aimed at maintaining
Society for Human Resources Management - Association offering consultancy and Human Resources
competitiveness in Norwegian industry
support to the Human Resources department Coordinator
Shipbuilders Council of America - Association promoting the shipbuilding industry Member Federation of the Manufacturing Industry (FEPA CM) - Organization that represents the Member
in the USA confederation of employers in industry, agriculture, construction and services in Romania
22 23FINCANTIERI GROUP FINCANTIERI GROUP
S USTAINABILITY
FOR FINCANTIERI
SUSTAINABILITY GOVERNANCE
OUR STAKEHOLDERS
OUR SUSTAINABILITY STRATEGY
MATERIALITY ANALYSIS
SUSTAINABILITY IN RISK MAPPING
CHARTER OF SUSTAINABILITY COMMITMENTS
SUSTAINABILITY PLAN
24 25FINCANTIERI GROUP FINCANTIERI GROUP
Sustainability is a real mission for and social responsibility. The Committee • The Sustainability unit, which reports Human Resources and Industrial Relations,
Fincantieri, it is the capacity to is composed of 4 independent members directly to the Deputy Chief Financial Legal Affairs, Procurement, Research and
respond to the challenges posed and provides the Board of Directors with Officer, coordinates sustainability activities, Innovation, Design, Security, System and
by the market today and tomorrow, proposals and consultation services, ensures compliance with the commitments Technology Development, Supply Chain,
creating value in the long term specifically it: undertaken, monitors the progress of projects Internal Auditing, Quality and Performance
and achievement of the sustainability Improvement, Strategic Market Analysis
A company is sustainable when each - adequately investigates issues related to objectives while continually keeping the and Administration, Finance and Control
person has understood its value and reflects the sustainability of Company activities Sustainability Committee informed. departments/units.
in their everyday work the fundamental and the dynamics of its interaction with all • The multifunctional Working Group is • Local representatives abroad for the VARD
principles of responsibility, commitment and stakeholders; coordinated by the Administration, Finance group, for Fincantieri Marine Group and for
consideration for stakeholder expectations, - plays an advisory and informative role and Control Department and tasked with Fincantieri Marine System North America Inc.
creating a virtuous cycle that generates for the Board of Directors on non-financial helping prepare the Sustainability Report and collect and manage the information for the
synergy and shared, proactive commitment. matters such as the Company’s compliance defining objectives, targets and timescales for Sustainability Report and coordinate in turn
For Fincantieri, sustainability is not just with and promotion of human rights, labour the sustainability commitments undertaken with a working group, specifically dedicated
an opportunity but a real mission to rights, environmental rights, combating by the Group. The Working Group includes to sustainability. The representatives abroad
represent a model of excellence in the corruption, health and safety of corporate representatives nominated by the Marketing, report directly to the Sustainability unit and/
world, a pervasive approach to business activities, the rights of all stakeholders, and Communication and Media Relations, or the Working Group.
that is able to respond to the challenges product liability.
of a globalized world and is increasingly
sensitive to the impacts generated by The Chairman of the Committee reports on
industrial processes on society and the the Committee’s activities at each meeting
environment. Sustainability in Fincantieri of the Board of Directors. The Committee
translates into strict observance of the met 6 times in 2018. SUSTAINABILITY
law, protection of workers, environmental COMMITTEE
protection, and safeguarding the interests
of the shareholders, employees, customers,
commercial and financial partners, general
public and local communities, creating long-
CHAIRMAN
term value for all stakeholders. LOCAL
GIANFRANCO
REPRESENTATIVES
AGOSTINETTO
ABROAD Board of Directors SUSTAINABILITY
UNIT
SUSTAINABILITY GOVERNANCE
To guarantee adequate protection and MASSIMILIANO NICOLETTA
monitoring of processes associated with CESARE GIADROSSI
sustainability, Fincantieri has a Sustainability MULTIFUNCTIONAL
Governance Model that provides for: WORKING GROUP
• The Sustainability Committee, established
SIMONE
by the Fincantieri’s Board of Directors in ANICHINI
2016, aims to supervise overall management
of sustainability in the Company and
For more information on the Sustainability Committee, see the Report on Corporate Governance and Ownership Structure available
define the strategic lines, commitments on the website www.fincantieri.com/en/governance/corporate-governance-system/corporate-governance-reports
and projects for sustainable development
26 27FINCANTIERI GROUP FINCANTIERI GROUP
OUR STAKEHOLDERS competitive advantage for the Group. their level of representativeness and promoted by the Group. Responsibility for
The main categories of stakeholders, both authoritativeness have also been considered. relations with the various stakeholders is
Fincantieri considers listening to and within and outside the Group, have been The graphic below details, for each group spread across the whole Group, with specific
involving stakeholders is paramount in order analysed and identified. More specifically, of stakeholder, the main tools, listening functions constantly engaging with their
to understand their needs, their interests and consideration was given to those channels and frequency with which they are individual groups of stakeholders.
their expectations. Stakeholder involvement stakeholders towards whom Fincantieri has contacted with the aim of gathering their
allows the development of long-term responsibilities and those persons or entities expectations and needs and communicating
relationships which become a source of able to influence the Group’s performance; the results achieved and the programmes
FINANCIAL COMMUNITY
ENVIRONMENT Financial dialogue is constant, in compliance with the law and in line with best working practices,
Fincantieri’s mission is to become a model of excellence in environmental protection, and it therefore adopts, in its ensuring complete transparency
strategic choices and business processes at all levels, the principles of environmental sustainability
when carrying out its work Press releases, periodic presentation of financial results, conference calls, shareholder meetings, meetings with
investors and analysts, one-to-one presentations, road shows and shipyard tours. E-mail address dedicated to Investor
Direct contact with bodies and ad hoc working parties Relations for institutional investors and small shareholders
Continuous dialogue and periodic meetings Frequency as set by law and internal organizational models; dialogue with investors is continuous and related to
investor engagement strategies; dialogue with analysts is continuous and related to analyst engagement strategies
COMMUNITY
Fincantieri is aware of its role in the local community and considers the demands of the latter, collaborating
systematically with all the relevant figures in the area. Fincantieri promotes proactive initiatives that foster
the development of the local community and areas where the Company operates
UE NCY ELS
Participation in working parties, meetings with representatives from NGOs and non-profit organizations, Q N CUSTOMERS
civil society institutions and associations, press conferences. Periodic meetings with schools and universities FRE CHAN Fincantieri always listens to its customers’ needs, each ship is the product of a strong relationship with the
to discuss and develop topics for research, internships, work-study schemes ND DER
shipowner
O LSA OL
Continuous dialogue and periodic meetings TO KEH The entire shipbuilding process calls for a continuous relationship between the project manager and the
STA customer and their staff
Direct, continuous relationship
Fincantieri
SUPPLIERS AND PARTNERS HUMAN RESOURCES
Fincantieri suppliers are a valuable strategic resource. That is why the Company promotes long-term At Fincantieri people come first. Constant collaboration and cooperation allow for individual and group growth,
relationships and sharing of responsibilities and development making ideas and practices, responsibilities and actions a common factor
Meetings with strategic suppliers, dedicated audits at selected suppliers, feedback questionnaires. Various Days dedicated to education, individual performance reviews, discussions with labour unions and employee
activities related to health and safety topics representatives, involvement in specific initiatives, and performance evaluation meetings. Courses, various
activities, e-learning related to health and safety topics
Continuous dialogue and periodic meetings Continuous dialogue and periodic meetings
LABOUR UNIONS
Fincantieri confirms the importance of hands-on representation of its workers through suitable levels of involvement,
awareness and the assignment of co-responsibility for production objectives and issues of common interest. INSTITUTIONS AND PUBLIC ADMINISTRATION
Accordingly, a new system of industrial relations has been implemented in line with the relevant commercial, The distinct nature of Fincantieri’s business calls for a continuous relationship with Institutions and the Public Administration
economic and production context
Direct contacts, internet, ad hoc working groups, definition and development of common projects
Meetings, working parties/discussions and the establishment of appropriate joint bodies to address various topics with the
labour unions on all levels Continuous dialogue and periodic meetings
Continuous dialogue and periodic meetings
28 29FINCANTIERI GROUP FINCANTIERI GROUP
An important role in spreading the Since 2017 Fincantieri has also been active The Group’s website, www.fincantieri.com, integrated strategy that is capable of
sustainability culture is played by the on Instagram, the third most popular social has an Investor Relations section containing combining business growth and financial
Marketing Communication and Media network after Facebook and YouTube. On information that is useful for shareholders, stability with social and environmental
Relations department in conveying all the this platform, the Company publishes high- investors, analysts and for the financial sustainability, creating value in the long term.
messages, which originate from direct impact photographs that create, through the community in general. This is why the important (material) topics
dialogue with management both inside and strength of the image, a daily dialogue with for the Group have been integrated into its
outside the Group. the user, raising awareness and improving business strategy and why the Fincantieri
the reputation of the brand among its OUR SUSTAINABILITY STRATEGY Group’s Sustainability Plan has been
In 2018, the initiatives promoted, in particular stakeholders. implemented.
by the Media Relations office, have produced In January 2019 the channel had more than Fincantieri has decided to structure Fincantieri’s sustainability path has taken the
numerous articles: 13,000 followers, with an average monthly its sustainability path by adopting an following approach.
growth rate of between 500 and 600 new
users.
NUMBER OF ITEMS
Fincantieri Yachts has its own Instagram
channel, dedicated to the luxury segment,
established just a few months after the
Corporate channel. The latter has performed OBJECTIVES SUSTAINABILITY
TOPICS COMMITMENTS
526 TV & RADIO
even better with an organic growth reaching
almost 16,000 followers at an average rate of
&
TARGETS
PLAN
over 600 new users a month.
PRINT
2,812 With the same objectives, some of the
• Materiality analysis to define • Definition of the Charter of • Involvement of the • Preparation of the proposed
Group’s subsidiaries are also present on
the sustainability topics that are Sustainability Commitments multifunctional Working Group Sustainability Plan
20,900 ONLINE this social platform. Specifically, Fincantieri
Australia, CETENA, VARD, Fincantieri Marine
significant for the Company based on the significant
topics to formalise corporate
in the definition of objectives
targets and timetables that meet • Assessment of the
• Involvement of internal commitment the commitments undertaken by Sustainability Plan by the
Group and Marine Interiors have helped to stakeholders to assess the topics’ the Company Top Management and the
expand the follower base of the Group to relevance for the definition of the • Approval of the Sustainability Committee,
commitment scope Commitments by the Board • Alignement with the drivers of approval by the Board of
more than 120,000 people. of Directors the 2018-2022 Businnes Plan Directors
• Identification of the non-
To ensure accurate, transparent, effective financial risks and alignment with
Another important tool in Fincantieri’s and reliable financial reporting, Fincantieri the most significant sustainability
topics
communications strategy is use of social established, from the moment of its listing
networks. The Company has been present for in 2014, an Investor Relations office. The
some time on LinkedIn, YouTube and since purpose of the office is to provide reliable
2017 on Instagram. information on the Group’s activities so as
to increase the market’s confidence in the
Group and create long-term relations with
shareholders. Investor Relations prevents
information from being disseminated in the
LinkedIn, the main social network for market inconsistently and makes important
professional contacts, allows Fincantieri to give information available to all actual or potential
the Company prestige through the publication investors at the same time.
of high-quality content and the contribution of In 2018, Fincantieri kept up constant dialogue
its employees, using the method of employer with its investors, organizing nearly 170
branding. events for groups and individuals, including
In January 2019, the Fincantieri profile had over teleconference meetings and visits to
88,000 followers (30,000 more than last year). facilities.
30 31FINCANTIERI GROUP FINCANTIERI GROUP
MATERIALITY ANALYSIS The evaluation of each aspect, with a scale SUSTAINABILITY IN RISK MAPPING specifically centred on sustainability.
from 1 to 4 (where 4 is highly significant), was The Fincantieri Risk Universe has been
Fincantieri launched a process in 2016 to identify performed by the multifunctional working At Fincantieri, the Risk Officer is responsible defined as part of the “ERM project” which
the material topics and a materiality analysis was group, taking into account two aspects for mapping the main company risks as provided the Company with an Enterprise
performed to identify important information. (significance for Fincantieri, significance well as reporting the mitigation actions level process for detecting, evaluating and
It is updated each year in compliance with the for stakeholders) and then approved by that the business takes to manage the risk monitoring the main company risks, in
Global Reporting Initiative Standards. Fincantieri's Board of Directors. (Enterprise Risk Management). In 2017, compliance with the requirements for listed
The purpose of the materiality analysis is to A materiality threshold was defined the Risk Officer integrated the company companies as per the Corporate Governance
identify, using a matrix, the material topics, (corresponding to 2), beyond which an risk model (Fincantieri Risk Universe) with Code for the Italian Stock Market. The
that is those topics that are actually important issue must be accounted for. Based on the additional risks concerning corporate social Company’s Risk Universe is given below.
for Fincantieri and for its stakeholders. evaluation, the materiality matrix highlights responsibility following a structured process
The assessment of the importance of the a linear correlation between the topics that
topics identified was performed based on are significant for Fincantieri and those that
the significance of their economic, social are significant for the stakeholders, indicating RISK UNIVERSE
and environmental impact on the Company a substantial overlap of interests within and
and their level of influence on stakeholders’ outside the Group.
EXTERNAL RISKS
decisions. - Economic Cycle (Macro and Sectorial) - Laws and Regulations - Supplier Dependency
- Customers (Business Concentration) - Country Risk - Competition
- New Technologies - Economic Policy (incentives) - Natual Disasters and Catastrophes
4.00
INTERNAL RISKS
3.80 FINANCIAL OPERATIONAL AND SUPPLY CHAIN CORPORATE SOCIAL RESPONSABILITY (CSR)
Price: - Product Technology - Reputational Risk
3.60 - Ecologically compatible
- Exchange Rate - Projects Quality and Safety
Governance Health and safety product development
and business in the workplace - Industrial productivity
3.40 Relations with integrity - Energy, Raw Materials and - Environment
local communities (operational efficiency)
Components’ Price - Implementation of the Mission and
Economic and financial sustainability - Warehouse management Values in terms of Sustainability
3.20
Environmental impact of products and services
- Interest Rate
Product quality and compliance - Governance, Strategy and
with technical standards - Management System
Sustainability Compliance
Stakeholder
Customer satisfaction Liquidity:
3.00 - Organizational Complexity - Rating agencies and sustainability
Protection of employment and - Cash Flow
industrial relationships of the Yard indices
2.80 Training and education - Access to credit - Sustainable Supply Chain
Company welfare Climate change - Outsourcing
Human rights Credit: - People
2.60
Environmental management - Project Management
- Investor & Public Relations
Diversity and equal opportunity Procurement activities - Counterparty Risk - Business Interruption
- Training, incentives, and
2.40
- Credit Scoring GOVERNANCE/COMPLIANCE
assessment of the sustainability
Innovation, research and development
- System of Powers and Duties performance
PLANNING AND REPORTING
2.20 Management INFORMATION MANAGEMENT
- Planning and Budgeting - Segregation of Duties - Corporate Data and Information
2.00
- Evaluation Protection
2.00 2.20 2.40 2.60 2.80 3.00 3.20 3.40 3.60 3.80 4.00 - Corruption and Frauds
- Reliability and Integrity
Fincantieri - Controlling - Health, Safety and Environment
- IT infrastructure Management
Economic responsibility Environmental responsibility Social responsibility Product responsibility Human resources responsibility Governance
- Disclosure HUMAN RESOURCES
STRATEGIC
- Taxation - Change Management - Brand Positioning
All topics indicated in the matrix are subject to inclusion in the Sustainability Report. - Labour Relations - Production Capacity
LEGAL
- Human Resources Management - Customer Satisfaction
- Intellectual Property
The description of the material topics is available in the annexes p. 160 - Staff Retention - Business Portfolio
- Litigation and Disputes
- Partnerships and Alliances
- Performance Management Management
- Criminality (common and organized)
and terrorism - Labour Cost - Acquisition, Integration and Disposal
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