2023 Company Report
Our Group
-
Sustainability Report
-
Methodology
2023 Company Report
Our Group ― Sustainability Report ― Methodology
Find out more at www.aristongroup.com
2023 COMPANY REPORT | 1 |
Index
Letter to stakeholders | 4 |
How to read this document | 6 |
Our group | 8 |
Our vision | 10 |
Our mission | 12 |
A global company with strong local roots | 14 |
Who we are and what we do | 16 |
The group by numbers | 18 |
Global vision, local action | 20 |
Our history | 22 |
2023 highlights | 24 |
Brands and products | 26 |
Thermal comfort | |
Ariston | 28 |
ELCO | 30 |
Wolf | 32 |
ATAG - Brink | 34 |
NTI - Calorex | 36 |
Racold - Domotec | 36 |
Chromagen - HTP | 40 |
Components | 41 |
Burners | 42 |
2
Sustainability Report | 44 |
The European Taxonomy | 46 |
The Group's Sustainability Journey | 56 |
The path towards Road to 100 | 57 |
Road to 100: Main 2030 objectives | 60 |
Solutions | 62 |
Key challenges | 64 |
Sustainable energy solutions | 65 |
Smart homes for sustainable living | 75 |
Operations | 80 |
Key challenges | 82 |
Resources productivity and circularity | 83 |
Responsible supply chain | 99 |
People & Communities | 104 |
Key challenges | 106 |
Excellent employee experience & engagement | 107 |
Education for the future | 119 |
Customers | 124 |
Key challenges | 126 |
Beyond customer proximity | 127 |
Trustworthy quality excellence | 137 |
Governance | 140 |
Key challenges | 142 |
Long-sighted sustainable governance | 143 |
Methodology Note on methodology | 162 |
Technical appendix | 163 |
GRI content index | 164 |
Notes | 232 |
2023 COMPANY REPORT | 3 |
LETTER TO STAKEHOLDERS | HOW TO READ THE DOCUMENT | OUR GROUP | SUSTAINABILITY REPORT |
Driving our sustainable future
Dear Stakeholders,
NOTE ON METHODOLOGY | TECHNICAL APPENDIX | GRI CONTENT INDEX | NOTES |
Paolo Merloni
Executive chairman
2023 marked a turning point in the history of Ariston Group - a multinational group that today approaches its 95th anniversary as a leading player in the sustainable thermal comfort industry, with more than 10,000 people worldwide and revenues exceeding 3 billion euros.
The year commenced with the completion of the acquisition of Wolf-Brink, which has been the biggest M&A in our history and is now effectively evolving into a transformative partnership. We have been focusing on seamless integration, collaborating with new colleagues across various workstreams while harmonizing our heritages and diverse cultures, in line with Ariston Group's spirit. As we build on our shared system of values, we capitalize on differences to reshape our organizations into one and lay the groundwork of the future of our group. I take pride in noticing that synergies generated to date already gave positive contribution to margins, and that Germany has driven our financial performance this year, corroborating the strength of our vision.
In March we released our ESG manifesto "Road to 100", defining clear-cut objectives in the fields of Solutions, Operations, People & Community, Customers and Governance, and shaping our sustainability roadmap to 2030. As the energy transition in the building sector is critical to reach Europe's decarbonization targets, we further invested in product innovation to accelerate this transformation
through our solutions and today with our unique, extensive portfolio of renewable and high-efficiency technologies we cover all our customers' needs for sustainable thermal comfort. Additionally, as a global manufacturer, we concentrated on progressively decarbonizing our operations, also by expanding the World Class Manufacturing methodology, focusing on production capacity and efficiency for strategic categories, and implementing the digital transformation across the entire value chain.
We then welcomed Maurizio Brusadelli as the new CEO of Ariston Group. He brought to the group his vision, as well as a wealth of experience and competencies acquired over the course of his robust career. Extending my deepest gratitude to Laurent Jacquemin for his 30+ years dedication, and as he assumed the role of a non-executive board member, I acknowledge how the solidity of our governance guaranteed a smooth succession. The strong cohesion of our Executive Team secured stability and maintained our strategic course. All our people - through their commitment, strategic focus, passion, entrepreneurship, and integrity - were the true protagonists of a special year of shared success.
Leveraging on our vision Sustainable Comfort for Everyone, we put significant steps in the driving of our future. From these standpoints, we look ahead remaining focused on our scale and profitability. Despite the challenges affecting some of our key markets, in
2023 we achieved an unprecedented net turnover of 3,092 billion euros, which represents a 30% year-over-year growth, factoring in the acquisitions of Wolf and Brink (+1% proforma). And we were able to protect margins, increasing our adjusted EBITDA by 38% year-over-year (+9% proforma) and delivering once again a double-digit adjusted EBIT.
Our vision is for the long term:
we will continue to pursue our profitable growth, elevating our organic ambitions while exploring inorganic opportunities consistent with our development strategy, to stay true to the commitment to our stakeholders.
I express my thanks to all individuals who have played a role in contributing to this collective journey.
Sincerely,
4 | 5 |
LETTER TO STAKEHOLDERS | HOW TO READ THE DOCUMENT | OUR GROUP | SUSTAINABILITY REPORT | NOTE ON METHODOLOGY | TECHNICAL APPENDIX | GRI CONTENT INDEX | NOTES |
How to read this document
The Ariston Group's Company Report sets out key commitments and results achieved for the January to December 2023 reporting period. More specifically, the Report aims to provide a comprehensive description of qualitative and quantitative information which outlines the Group's effort in sustainability topics.
In order to facilitate the reading of this Report by the Group's stakeholders, the document is structured around three macro-sections which are illustrated below.
Our Group | Our Group | Presents the Group, focusing on its core business, historical | |||||||
milestones, key numbers and brands that make up the | |||||||||
corporate portfolio. | |||||||||
Sustainability | European Taxonomy | Describes and explores the Ariston Group's contribution to the | |||||||
Report | six European Taxonomy objectives, in terms of | ||||||||
Taxonomy-eligible and aligned economic activities. | |||||||||
The Group's | Describes the path towards the Road to 100, the Group's 2030 | ||||||||
Sustainability Journey | ESG Plan. 2023 marks one year since the Company's strategic | ||||||||
plan has been issued. | |||||||||
Provides a snapshot of the main 2030 objectives and ambitions | |||||||||
for each of the Group's material topics, as defined in the | |||||||||
Road to 100 plan. | |||||||||
Road to 100 engagement areas | Material topics | ||||||||
1. Solutions | • Sustainable energy solutions | ||||||||
What we produce and sell | • Smart homes for sustainable living | ||||||||
2. Operations | • Resources productivity and circularity | ||||||||
How we produce and sell | • Responsible supply chain | ||||||||
3. People & Communities | • Excellent employee experience & engagement | ||||||||
The impact on communities | |||||||||
• Education for the future | |||||||||
we operate in | |||||||||
4. Customers | • Beyond customer proximity | ||||||||
The impact on our | |||||||||
• Trustworthy quality excellence | |||||||||
business stakeholder | |||||||||
5. Governance | • Long-sighted sustainable governance | ||||||||
Safeguard the way we do business | |||||||||
Methodology | Note on methodology | Explains the methodology used for the creation of the document, | |||||||
along with reporting scope and standard followed | |||||||||
Technical appendix | Provides a thorough overview on all reported GRI standards and | ||||||||
Disclosures, both from a quantitative and a qualitative perspective | |||||||||
GRI content index | Enhances the usability of reported information and helps | ||||||||
stakeholders navigate disclosures and see the information at a glance | |||||||||
6 | 2023 COMPANY REPORT | 7 |
Our group 2023
LETTER TO STAKEHOLDERS | HOW TO READ THE DOCUMENT | OUR GROUP | SUSTAINABILITY REPORT | NOTE ON METHODOLOGY | TECHNICAL APPENDIX | GRI CONTENT INDEX | NOTES |
Our vision | Our mission | A global company with strong local roots | Brands and products |
OUR VISION
Sustainable comfort for everyone
Our purpose is to provide everyone, in every corner of the world,
with high-quality thermal comfort solutions, while protecting the environment.
LETTER TO STAKEHOLDERS | HOW TO READ THE DOCUMENT | OUR GROUP | SUSTAINABILITY REPORT | NOTE ON METHODOLOGY | TECHNICAL APPENDIX | GRI CONTENT INDEX | NOTES |
Our vision | Our mission | A global company with strong local roots | Brands and products |
LETTER TO STAKEHOLDERS | HOW TO READ THE DOCUMENT | OUR GROUP | SUSTAINABILITY REPORT | NOTE ON METHODOLOGY | TECHNICAL APPENDIX | GRI CONTENT INDEX | NOTES |
Our vision | Our mission | A global company with strong local roots | Brands and products |
LETTER TO STAKEHOLDERS | HOW TO READ THE DOCUMENT | OUR GROUP | SUSTAINABILITY REPORT |
Our vision | Our mission | A global company with strong local roots | Brands and products |
NOTE ON METHODOLOGY | TECHNICAL APPENDIX | GRI CONTENT INDEX | NOTES |
WHO WE ARE AND WHAT WE DO
Ariston Group
THERMAL COMFORT
Service | Air-treatment |
Water Heating | Heating |
COMPONENTS
BURNERS
A global leader in thermal comfort and energy efficiency
16
All over the world, Ariston Group is synonymous with comfort, energy efficiency and respect for the environment, thanks to its renewable and high efficiency products, its plants run in compliance with the most advanced production standards and its excellent pre- and after-sales customer support services.
The Group has a leadership position in the global thermal comfort market for residential and commercial spaces through its strategic global brands
- Ariston, ELCO and Wolf - and its renowned regional and local brands. Components and burners, respectively marketed Thermowatt and Ecoflam, complete the offer.
THERMAL COMFORT |
Strategic Global Brands |
COMPONENTS |
BURNERS |
2023 COMPANY REPORT | 17 |
Attachments
- Original Link
- Original Document
- Permalink
Disclaimer
Ariston Holding NV published this content on 05 March 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 15 March 2024 14:06:05 UTC.