Focusing on an “Enduring Commitment” to creating value for its stakeholders and to promoting sustainable development, combining an entrepreneurial spirit with respect for people, society and the environment, the TITAN Group 2013 Integrated Annual Report has been completed, in accordance with the International Integrated Reporting Council (IIRC) framework.
The issuance of an Integrated Annual Report, instead of two separate Reports, Financial and Social, is in line with the highest international standards and best practices, and reflects the fact that Corporate Social Responsibility is not ancillary to the business, but forms an integral part of its overall strategic direction and operation.
The Group’s Integrated Annual Report for 2013 includes a detailed analysis of its performance and also the independent auditors’ assurance statement, which certifies that the Report meets the A+ assurance level for GRI G3.1 and corresponds to the “advanced level” UN Global Compact criteria for Communication on Progress. The full Report, in PDF format, and the independent auditors’ assurance statement are available online at http://integratedreport2013.titan.gr
TITAN Group Integrated Report 2013 milestones
- Improvement of the lost time injury frequency rate, for both employees and contractors of the Group
- Improvement of the operating results for the first time in seven years, at constant exchange rates
- Investment of more than €24 million Euro in further improvement of our environmental performance
- Completion of the project for upgrading and improving the environmental performance of the cement production plant in Kosovo
- Reduction of the net debt by half within a period of 5 years. Increase of production capacity by approximately 20%, within the same time period, mainly in emerging markets.
- Ability to benefit from the recovery of the US market, through extensive investments made in the cement production plants and in vertically integrated activities in South-East States
- Extension of our participation in business networks and initiatives that promote sustainable development. Establishment of a new Corporate Social Responsibility (CSR) Network in Albania and participation in the UN Compact Network in Serbia
- Fostering dialogue and partnership initiatives with the stakeholders, in areas such as health issues, safety issues, training and employment for the youth
The Group is cautiously optimistic on the outlook for 2014. Given, however, the lingering uncertainty, it continues to focus on areas which it can control – ensuring that business remains financially, socially and environmentally stable and demonstrating an enduring commitment to long-term sustainable development.