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Integrated Report 2012 Integrated R Eport 2012 Integrated INTEGRATED REPORT 2012 INTEGRATED INTEGRATED R EPORT 2012 INTEGRATED REPORT 2012 Summary 06. Management Letter 90. Vision of the Future and Trends 08. Highlights of 2012 94. About the Report 12. Market Context 96. Audit Statement 16. Business Overview 97. Correlations with the UN Global Compact Principles 40. Our Identity 98. Assurance Report 48. Business Model and Performance 102. GRI Indices / Indicators 141. Financial Statements 86. Risk Management 150. Report Production How to Read this Report GRI We present the first Report of Votorantim Cimentos (VC). The report also contains the detailed audited Financial 3.4,3.10, The aim of this document is to inform our stakeholders Statements (FS) as well as the opinion of our external 3.11 and society in general about our economic, social auditors and the declaration of assurance of independent and environmental performance, as well as our verification by an external entity. The Financial Statements commitments, strategies and practices. are also available at: http://www.vcimentos.com.br/ htms-ptb/Institucional/DemonstracoesFinanceiras.htm In this Report, we have followed the guidelines of the Global Reporting Initiative (GRI) and the Principles of the Your opinion on this Report is important, enabling UN Global Compact (Global Compact), both of which are us to continually improve our reporting and also reflected in our activities and initiatives in everyday life. management processes. You may contact us by e-mail at: [email protected] The information contained in this report relates to Votorantim Cimentos (VC) and, where appropriate, to our This Report is also available on our website at: parent company, Votorantim Industrial (VID). Here you will http://vcimentos.com.br/htms-enu/Responsabilidade/ find information about our operations, business, results and Ambiental.htm risk management. You also can download the portuguese version at: http://vcimentos.com.br/htms-ptb/Responsabilidade/ relatorioSustentabilidade.htm Guide to References GRI GRI UN Global Material Indicator Compact Issue Principle GRI In Brazil, in 2012, the Cuiabá (MT) cement unit came into 1.1,1.2, operation and the mills in Laranjeiras (SE) and Rio Branco 2.9, 3.11 Management do Sul (PR) were expanded. Also four new Concrete Units and two new Aggregates Units were opened. In South America, Letter we strengthened our presence through the acquisition of control of Cementos Artigas, Uruguay, and increased participation in Avellaneda, Argentina. With this process of organic growth and acquisitions, Votorantim Cimentos ended the year with a 45% increase in production capacity worldwide, reaching 52.2 million tons. In Brazil, our production capacity has reached 30.1 million tons. Our investments totaled more than R$ 1.5 billion in 2012, including expansion, maintenance and health, safety and environment projects. For the next three years, investments of R$ 3.7 billion in expansion projects are scheduled. In Brazil, we continue to believe in market growth through investment in infrastructure and housing, two important segments for the industry. The company is ready to meet the demand for materials resulting from actions to encourage construction, through “Minha Casa, Minha Vida”, greater facilities for housing credit, and major infrastructure projects aimed at the international sporting events scheduled for the coming years, the World Cup 2014 and Olympics 2016. We have worked to build, day by day, a work environment in which people have opportunities for personal and professional development, and feel engaged in the growth ambitions and committed to the company’s future. Our human resource management is based on guidelines for attracting, developing and retaining talent, meritocracy, health and safety. Aiming to spread international best practices internally, we disseminate among employees a Global Anti-corruption Corporate Policy. The year of 2012 was challenging for Votorantim Cimentos. We maintain a very strong focus on the issues of occupational Despite the global economic environment, we achieved solid health and safety; unfortunately in 2012 we could not achieve results, with strong growth and consolidation of our operations the goal of zero fatalities. To reverse this situation, we are in Brazil and abroad. In this sense, we highlight the completion promoting deep internal reflection in relation to operational of the integration process of the assets that belonged to controls and a review of procedures and training. These efforts the Portuguese cement producer Cimpor in seven countries, are being adopted with the total commitment and mobilization including new business in Europe, Africa and Asia. These of senior leadership. operations were of strategic importance for the company’s international expansion - which made Votorantim Cimentos In 2012, we initiated a review of the processes of our customer one of the eighth largest producers in the sector worldwide. service. Initially deployed as a pilot with clients in Brazil, this new 6 model of service aims to improve the relationship with customers This 2012 Votorantim Cimentos Integrated Report received through a better and more specialized system of selling products the A + rating according to the methodology of the Global and services. Reporting Initiative (GRI). This is a recognition of our search for the best practices in sustainability, which is aligned with our In the environmental area, being aware of the impacts of our business strategy. We have a model of consistent management operations, we operate with a continued focus on mitigating and a governance model that emphasizes transparency. these impacts through the development of innovative solutions - developed by the company itself or identified as a good market In the coming years, we will follow the path of expansion and growth. practices. The lessons learned from these solutions, besides We are well prepared for the new challenges that lie ahead and we mitigating the impacts, produce improvements in our operations. hope to reach even loftier heights in relation to productive capacity, competitiveness, technology and business position. The first cycle of Cement Sustainability Initiative (CSI) goals (2005-2012) to which we are committed has concluded Finally, I want to express appreciation of the dedication with good results. We have achieved, for example, the goal and commitment of our employees, customers and business of reducing CO2 emissions. In 2013, we will continue to enhance partners, all of them fundamental for us to achieve the desired our goals relating to key environmental issues involving results and to maintain our strategy. We want to be one our company, such as responsible use of fuel, energy and of the best global companies in the basic materials sector raw materials, water resources management, CO2 emissions of the construction industry, backed by our aspiration of and other pollutants, and biodiversity. These initiatives becoming a leader in sustainability in our industry. reinforce our commitment to make Votorantim Cimentos a reference for the industry. Concrete results achieved, include: the reduction of CO2 emissions and particulate matter by 23.9% since 1990 and 30% since 2000, the renewal of the partnership with the Brazilian Society of Speleology (SBE) and Atlantic Biosphere Reserve, with which we act jointly on projects to preserve biodiversity, and other actions described in this report. Within the social scope, we support in partnership with Instituto Votorantim development projects in the communities where we operate, which is essential for the future of our operations. An important mechanism in this regard is the training of Community Councils, which are participatory forums of society and government as well as a space for engagement of community leaders. These Councils allow the identification of local needs and help public departments in defining plans to improve education, income generation and Paulo Henrique de Oliveira Santos work - in addition to being a communication channel for the President of Votorantim Cimentos permanent relationship between our operations and communities. At the end of 2012, we recorded Community Councils operating in nine cities. Management Letter Report for Votorantim Cimentos 7 EXPANSION AND Highlights INTERNATIONALIZATION WERE AREAS OF FOCUS of 2012 IN 2012 Itaú de Minas (MG) Plant • We invested about R $ 1.2 billion in expansion projects, • In relation to our commitments under the Cement in the form of cement plants, grinding mills and concrete Sustainability Initiative (CSI), we completed the first period units. We initiated the operations of yet another cement of targets (2005-2012). Now we will establish targets plant, this time in Cuiabá (MT), with capacity to produce for the second period of targets (2013-2020). The CSI 1.2 million tons per year. We also completed the expansion is an international initiative sponsored by a group of the of our cement plants in Laranjeiras (SE), Rio Branco do Sul largest global producers of building materials that believe (PR), Santa Helena and Salto de Pirapora (SP) and opened in sustainable development. Details of our progress are four new concrete units. shown in the following table. We have participated in this initiative since 1999. • We concluded the asset swap relating to our 21.21% stake in Cimpor, a Portuguese cement • Our social investments in the communities in which company. As a result of this transaction, we now we operate totaled R$ 9,173,000 from own funds have assets in Spain, China, India, Turkey, Morocco and R$ 836,000 from tax incentives. and Tunisia, in addition to a limestone mine in Peru, adding 16.3 million tons to our worldwide • We ended 2012 with a 23.94% reduction in CO2 production capacity. emissions, exceeding the target committed to under the Cement Sustainability Initiative (CSI), which was • Our global net income totaled R $ 9.5 billion, to reduce CO2 emissions by 10%, in relation to the 9% more than in the previous year. In Brazil, base year of 1990. our net income totaled R $ 7.7 billion, 6% more than in the previous year. • We also reduced emissions of particulates, which fell more than 30% in 2012, compared to the base year of 2000.
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