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Chairman's message

Letter from the Chairman

2017 was another year of excellent results, thanks to everyone’s commitment to the quality of our solutions and customer service and respect for all our stakeholders. Success marked by a prudent and responsible strategy in operational management, but without sacrificing our orientation towards innovation in the search for distinctive solutions, which reflects the path chosen by the IMA Group to guarantee itself an increasingly important role in the world of industrial automation.

The more competitive European manufacturers like IMA have taken a commitment, together with their main end-users, to protect environmental quality (reduction of environmental impacts, refuse, wasted energy and materials), and to promote high social quality: respect for human rights along the supply chain, protection of work and the fight against corruption.

For this reason, in planning its strategies, our Company considers not just economic results, but also the social and environmental aspects of its work, with the aim of ensuring a fair balance between competitiveness, environmental sustainability and social responsibility. In the last few months of 2017, an internal process was developed for the definition of the Group Sustainability Policy, which was approved by the Board of Directors in February 2018. With this Group Policy, which is also based on the behavioural principles already defined in its Code of Ethics and other corporate policies and strategies, IMA reaffirms its objectives and commitments in the various areas of sustainability and Corporate Social Responsibility. IMA also strives to have them shared by all Group companies in Italy and the rest of the world, in accordance with the laws and regulations in force in the various countries where IMA operates.

If, with its sustainability policies, IMA directs the framework of its strategies to operate in a manner that is consistent with protection of the environment and people’s rights, it is with this Report that the Group informs its stakeholders about the results achieved thanks to the policies and organization and management models that we have adopted; moreover, it does so being prepared for the new obligations imposed by the European and National Institutions: these are asking large listed groups, starting from 2017, also to report on Environmental, Social, Human Resources, Human Rights and the Fight against Corruption (Directive 2014/95/EU on the communication of non-financial information and information on diversity – Legislative Decree 254/16).

IMA has been publishing non-financial information since 2013: transparency is not just a requirement of ethical behaviour. In a productive situation made up of people, it is also a tool to involve, to receive consensus, advice or constructive criticism, as well as to respond to all the needs that markets and society ask us to satisfy – and not only the economic ones.

The following pages set out the various achievements and results obtained by the Group in the economic, social and environmental fields. At the reporting level, we would recall that among the major innovations introduced in 2017, there is also consolidation of the reporting perimeter and its expansion to include the companies that are consolidated in the Group’s financial statements.

While respecting local specificities, the IMA Group has given a clear direction to all of its production companies throughout the world: to operate with a competitive approach in full compliance with the sustainability principles and values in a way that is consistent with the most advanced ideas expressed by civil society and the institutions.

Furthermore, this year, the non-financial report has been submitted to review by a specially appointed auditing firm.

As we know, what happens around us depends partly on our own decisions and partly on factors that we cannot influence. The desire to innovate, to stay in the market, to take care of our customers, offering the best in terms of quality and reliability: all of this depends on us and our ability to be critical of ourselves so that we can improve constantly.

IMA undertakes to develop its policy and programmes over the coming years and to implement procedures to ensure that the sustainability principles expressed by civil society and the institutions find real application in its production chain and in the markets, in a continuous process of collaboration with end-users and stakeholders.

I hope you enjoy reading this report.

 

The Chairman

Alberto Vacchi

Alberto Vacchi, Chairman & CEO