REPORTING ORGANIZATION AND PARAMETERS OF THIS REPORT
voestalpine AG is the reporting organization. Unless otherwise stated, the information, figures, and facts published in this CR Report refer to the entire voestalpine Group. Both the financial performance indicators and the employee data encompass all of the Group’s consolidated entities.
voestalpine’s 115 production companies—i.e., those that process, convert, or treat a product—accounted for more than one half of the data considered in the compilation of the environmental performance indicators. This limitation of the parameters of this report for environmental data was based on the criteria of materiality and the Pareto principle: The carbon footprint of the non-producing companies is relatively small, whereas the expenditures required to collect these data would be unreasonably large.
The health & safety indicators comprise all companies whose activities entail potential risks for their employees. This concerns a total of 174 entities, including all production companies as well as those smaller companies, for example, whose shops use equipment that may pose a risk to the employees’ safety and health.
Impacts along the value chain that occur outside of voestalpine’s factory gates but are subject to its sphere of influence are regularly evaluated as part of supply chain management and are managed with an eye toward sustainability. For reasons of confidentiality, however, this CR Report does not disclose detailed information and financial indicators concerning suppliers’ business activities.
STANDARDS AND SPECIFICATIONS
This CR Report was prepared in accordance with the Standards of the Global Reporting Initiative (GRI). These standards provide a globally prevalent and recognized framework for transparent and comparable sustainability reporting. The GRI Content Index in the Appendix provides a detailed overview of the GRI Standards covered by this CR Report and indicates where the respective information is to be found.
The Austrian Sustainability and Diversity Improvement Act (NaDiVeG), which transposed EU Directive 2014/95/EU (NFI Directive) on the mandatory disclosure of non-financial indicators into national law, has been in effect in Austria since December 2016. In publishing this CR Report, voestalpine is thus fulfilling the requirements of Section 267a Austrian Commercial Code (Unternehmensgesetzbuch, UGB).
The disclosure of information on the EU taxonomy contained in the report complies with the Taxonomy Regulation (EU) 2020/852 and the Commission Delegated Regulation 2023/2486 on the technical assessment criteria for environmental objectives 3 to 6 published on November 21, 2023, as well as the published regulations of June 4, 2021 (technical criteria) and July 6, 2021 (Article 8).
Reference value for specific environmental data
The production volume is used as the benchmark for determining the specific environmental performance indicators. In addition to the weight of the crude steel produced at six plants (flat and long products by way of the integrated furnace approach, and special steel manufactured in electric furnaces), the production volume data also includes the weight of those steel products whose pre-materials are externally sourced. Accordingly, the specific indicators are provided per ton of product.
Content of this Report
voestalpine conducted a comprehensive and informed materiality analysis during the reporting period, which led to an adaptation of the material topics. Due to time constraints, the content of this report had to be determined prior to the completion of the most recent materiality analysis and is therefore based on the previous list of material topics. The changes will therefore only be reflected in the upcoming sustainability report, which will be published as part of the Management Report in accordance with the requirements of the CSRD. voestalpine also addresses the issues that are relevant to the Group’s sustainable development continuously and systematically. More detailed information on determining the content and material topics covered in this CR Report can be found in the chapter “Stakeholders and CR Management.”
MATERIAL CHANGES IN THE GROUP AND IN THE VALUE CHAIN
voestalpine initiated the sale of Buderus Edelstahl and the reorganization of the Automotive Components division in Germany in the reporting year. Following the restructuring steps already implemented, the Management Board of voestalpine AG has decided to transfer the strategic process initiated to reposition Buderus Edelstahl into a sales process. As a result, the High Performance Metals Division will continue to focus its product portfolio on the technologically demanding segment of high-performance materials. voestalpine is maintaining its internationalization strategy in the Automotive Components division and is responding to the structural shortfall in capacity utilization in the automotive supply industry in Germany by consolidating its production network, including with the sale of the production site in Nagold in Germany. In addition to restructuring measures, the downstream business was strengthened in the 2023/24 business year as part of systematic implementation of the strategy. In this context, the voestalpine subsidiary NEDCON (Metal Forming Division) acquired the bearing specialist Torri S.P.A. from Vicenza in Italy in the reporting year, thereby further expanding its position in the segment of innovative bearing system solutions.
REPORTING PERIOD
voestalpine’s business year runs from April 1 of a given year to March 31 of the following year. While the business year 2023/24 is the reporting period for the key figures as well as the employee and health & safety data, the environmental data are compiled by calendar year. Hence the calendar year 2023 is the reporting period for the environmental performance indicators. Most of the key figures are shown for the periods going back to the business year 2019/20 or the calendar year 2019 to enhance comparability and show the development of the data over a longer period. Accordingly, they present developments over the past five business and/or calendar years.
REPORTING CYCLE AND PUBLICATION DATE
voestalpine publishes its CR Report once a year. This Report was published on June 5, 2024.
Audit
The auditing firm Wirtschaftsprüfungs- und Steuerberatungsgesellschaft Deloitte audited the CR Report as to compliance with both the GRI Standards and the requirements of Section 267a UGB. See the Independent Assurance Report in the Appendix for further information on the audit and confirmation of the present CR Report.
Style and Languages
It is important to voestalpine to use gender-appropriate language. Pursuant to voestalpine’s guidelines regarding gender-inclusive language, the generic masculine grammatical form is no longer used. Whenever personal designations in this Report do not refer specifically to a particular sex, the German-language text makes this visible by using gender-neutral wording, the so-called “gender colon” (used in German only), or the pairing of gender designations. The English text uses gender-neutral language as applicable.
The CR Report is published (both in print and on the Web) in German and English.
VISUAL DESIGN
voestalpine’s sustainability strategy is based on a concept that provides for the strengthening of social and ecological competencies and their harmonization with commercial, financial, and economic goals. Ten focus areas were identified as part of this approach in which voestalpine’s key sustainability tasks are combined. The newly established Group Sustainability department has developed a key visual that uses ten icons to reflect the key sustainability aspects in visual format. These icons portray the diversity of sustainability practiced within the Group. The ten focus areas combine voestalpine’s central sustainability tasks.
Questions and comments
We look forward to your feedback. Please send any questions or comments regarding this CR Report to the following email address: cr@voestalpine.com