Pekabex integrated report for the year 2018 Consolidated statement - PDF document

Pekabex integrated report for the year 2018 Consolidated statement of activities

2 | PEKABEX Integrated report 1. About the Group 6 5. Other management principles 94 Table of 1.1. Business model . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .16 5.1. Employees of the Pekabex Group . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .96 contents 1.2. Markets and sources of supply . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .26 5.1.1. Policies applicable to employees . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .97 1.3. Value creation model . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .27 5.1.2. Employment structure and remuneration policy . . . . . . . . . . . . . . . . . .97 1.4. Equity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .28 5.1.3. Relations with employees . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .98 1.5. Signifjcant agreements . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .34 5.1.4. Remuneration of members of the management and supervisory bodies . .98 5.1.5. Ethics . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .98 2. Strategy and development of the Pekabex Group 38 5.1.6. Occupational health and safety . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .99 2.1. Research and development . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .42 5.1.7. Internal communication . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .103 2.2. Supply chain . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .45 5.1.8. Internal integration . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 103 5.1.9. Employee development . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 104 4. Activity of the Pekabex Capital Group in 2018 48 5.1.10. Diversity and social inclusion . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 105 3.1. Events with a signifjcant impact on the operations 5.1.11. Control system for employee programmes . . . . . . . . . . . . . . . . . . . . 105 and fjnancial results of the Pekabex Group . . . . . . . . . . . . . . . . . . . . . . . . . . .50 5.1.12. Recruitment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 106 3.2. Signifjcant contracts . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .50 5.2. Environment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 106 3.3. Structure of Pekabex S.A. revenue - operating segments . . . . . . . . . . . . . .55 5.2.1. Materials and raw materials . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 108 3.4. Structure of the Pekabex Group sales revenue 5.2.2. Energy . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 108 - operating segments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .56 5.2.3. Water . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 110 3.5. Basic economic and fjnancial data for the Pekabex Group. . . . . . . . . . . . .58 5.2.4. Other environmental aspects . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 110 3.6. Basic economic and fjnancial data for Pekabex S.A. . . . . . . . . . . . . . . . . . .62 5.3. Pekabex for the society . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 111 3.7. Financial resource management . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .67 5.3.1. Local communities and social engagement . . . . . . . . . . . . . . . . . . . . 111 3.8. Difgerences between fjnancial results and fjnancial forecasts . . . . . . . . . .69 5.3.2. Respect for human rights . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 112 3.9. Structure of main deposits and capital investments . . . . . . . . . . . . . . . . . . .69 5.3.3. Schools and universities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 112 3.10. Assessment of the feasibility of investment projects . . . . . . . . . . . . . . . . .70 5.4. Risk management . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 114 3.11. Credits and loans taken out and terminated . . . . . . . . . . . . . . . . . . . . . . . . .71 5.4.1. Relevant risk and hazard factors . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 114 3.12. Granted loans . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .75 5.4.2. Corruption prevention . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 125 3.13. Signifjcant transactions with related entities 5.5. Changes in fundamental management principles . . . . . . . . . . . . . . . . . . 125 under conditions other than market conditions . . . . . . . . . . . . . . . . . . . . . .75 6. Outlook 126 3.14. Agreements providing for compensation for members of managing bodies in the event of their resignation or dismissal . . . . . . . . . . . . . . . . . .75 6.1. Position on the market . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 128 3.15. Granted and received sureties and guarantees . . . . . . . . . . . . . . . . . . . . .76 6.2. Conditions for further development of the Group . . . . . . . . . . . . . . . . . . 128 6.3. Short-, medium- and long-term perspective . . . . . . . . . . . . . . . . . . . . . . . 131 4. Statement on the implementation of corporate 7. Additional information 134 governance principles 80 4.1. Indication of the set of rules to which Pekabex S.A. is subject . . . . . . . . . .82 7.1. Feasibility of investments and information 4.2. Shareholders of Pekabex S.A. holding signifjcant blocks of shares . . . . .84 on the Company‘s relations with other entities . . . . . . . . . . . . . . . . . . . . . . 136 4.3. Appointment and dismissal of Management Board members 7.2. Unusual events afgecting the result of activities . . . . . . . . . . . . . . . . . . . . 136 and their powers . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .86 7.3. Agreements which may result in changes in the shareholder structure 136 4.4. Principles of amending the Pekabex S.A. Articles of Association . . . . . . .87 7.1. Disputes and litigation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 137 4.5. General Meeting of Shareholders and shareholders‘ rights . . . . . . . . . . . .88 8. About the report 140 4.6. Pekabex S.A. bodies and their composition . . . . . . . . . . . . . . . . . . . . . . . . .90 9. Tables with GRI numerical indicators 142 4.7. Internal control system and risk management . . . . . . . . . . . . . . . . . . . . . . . .93 10. GRI content index 150