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Corporate Responsibility ReportCorporate 2016 every day every Doing good Doing Associated British Foods plc Corporate Responsibility Report 2016 CONTENTS OVERVIEW 1 Chief executive’s introduction 2 Measuring our social impact 4 Our businesses at a glance 6 The essence of Associated British Foods “Our purpose 8 Our approach to corporate responsibility 12 Our group priorities 13 Addressing modern slavery is to 16 Protecting our environment provide 18 Climate change 20 Water management 21 Waste management 22 Keeping our people safe 24 Promoting gender diversity 25 Supporting the community: nutri the Garfield Weston Foundation safe, tious, GROCERY 26 Introduction 28 Our environment affordable 31 Our people 34 Our supply chain food 38 Our neighbours 40 Our customers and that is SUGAR clothing 42 Introduction 44 Our environment FOR MONEY. 48 Our people GREAT VALUE 50 Our supply chain 54 Our neighbours 55 Our customers In doing these things well AGRICULTURE 56 Introduction 58 Our environment we know we contribute 60 Our people 62 Our supply chain to making MILLIONS of 64 Our neighbours 66 Our customers INGREDIENTS people’s lives better.” 68 Introduction 70 Our environment 72 Our people 75 Our neighbours 76 Our customers George Weston RETAIL Chief Executive, Associated British Foods 78 Introduction 80 Our environment 82 Our people 84 Our supply chain 88 Our neighbours ASSURANCE 90 EY’s assurance report Associated British Foods plc Corporate Responsibility Report 2016 Overview Chief executive’s introduction 1 CHIEF EXECUTIVE’S INTRODUCTION Associated British Foods is a company which thinks long term, invests consistently in its assets and finances itself conservatively. Our purpose is to provide safe, nutritious, affordable food and clothing that is great value for money. In doing these things well we know we contribute to George Weston making millions of people’s Chief Executive, Associated British Foods lives better. The reputation of Associated British This approach is closely aligned to For instance, our Grocery division is Foods has been built over many years our own at Associated British Foods: our working closely with the communities by conducting our business openly and decentralised structure means each of from whom we source tea and vanilla to honestly. However, our decentralised our five divisions decides where they improve working conditions, and our Sugar structure, combined with the wide focus their efforts to benefit and protect division has provided support and training range of our activities means it is not people and the world in which they to boost the livelihoods of smallholder straightforward for people outside the operate. I am proud of the work being farmers in Africa. Company to assess the difference we done throughout our organisation to In the last financial year, we have directly make to society. That is why, this year, protect vulnerable people in our supply improved the lives of thousands of we have begun to explore how we can chain. You can read about our work people. Calculating this has not been a better measure what we do so that we to protect them in detail on page 13 straightforward process but we intend might provide more credible and tangible and our Modern Slavery Statement to build on this year’s start to refine and evidence of our impact. is now published on our website. mature this way of presenting our impact The transformative power of being open The impact of our corporate responsibility for future reports. with stakeholders is best seen in the new activities, however, goes beyond our There is pressure from outside law brought in by the UK government: in supply chain and includes our neighbours, organisations to set targets as soon 2015, it introduced the UK Modern Slavery our employees and our customers. as counting begins. I believe it is more Act, a groundbreaking piece of legislation In this report, for the first time, we have important to show, as transparently which calls upon businesses to share what attempted to count the number of people as possible, proof of the good we have they are doing to uncover, understand and who have benefited in some way from our already done, than to set a target of what eradicate human rights abuses in their operations and the activities in which our we may do in the future. I know Associated supply chain. many different businesses are engaged. British Foods is a company which thrives This includes counting up the new jobs Rather than creating a raft of burdensome as the people around it thrive and I look we have created in the last year and the regulation, this mandatory disclosure forward to making an ever-greater number of our people who have received puts businesses in control of defining the contribution to improving people’s some form of training. It also includes the activities in which they will engage. In this lives. As they flourish and prosper, we number of suppliers who have received way, businesses are empowered to achieve our target of making life better support from us, as well as those who intervene where they can make the for everyone. have benefited from our charity and greatest impact. volunteering work. Associated British Foods plc Corporate Responsibility Report 2016 2 Overview Measuring our social impact MEASURING OUR OUR PEOPLE We aim to improve the lives of the people who work with us. SOCIAL IMPACT Whether through providing fairly paid, stable jobs, or by offering training and development opportunities, thousands of people benefit from a career with Associated British Foods. Ever since Associated British Foods was incorporated, our businesses have been making a difference to people’s lives. For the first time, we have sought to quantify our social impact in order to show the benefits of our collective endeavour OUR SUPPLY CHAIN on people’s lives. This includes our own people, our suppliers, our neighbours and We also aim to improve the lives of our suppliers, particularly our customers. those in developing countries where living standards differ from those in the Western world. We invest in a wide range of projects To do this, we have asked our businesses that boost the livelihoods of our suppliers, as well as support the to collect data on a range of measures. wellbeing of their workforce and the families they support. This is the first year we have requested this data, which means there are gaps. It is our intention to expand this data in the coming years so that we can provide an even fuller picture. Where data has been estimated, we have done so cautiously, seeking to round down rather than up, and we have checked our assumptions with our partners. The numbers shown here are for the date range 1 August 2015 to 31 July 2016. To see how OUR NEIGHBOURS we defined our terms and calculated these numbers, please read our CR Reporting Our corporate responsibility activities also reach into our Guidance 2016 document which you can communities and seek to make a difference to the lives of find on our website at www.abf.co.uk/ our neighbours. We donate products to food banks, as well cr_reporting_guidance_2016. as volunteering our time and raising money for charity. We are also improving the career prospects of the next generation by offering career guidance, coaching, work experience and training. OUR CUSTOMERS We have a clear agenda to sustain the wellbeing of our customers by reformulating our products to reduce the salt, sugar and fat content, making it easier for them to eat a healthy, balanced diet. We also aim to help them make appropriate choices about nutrition by providing the information they need to make informed decisions. Associated British Foods plc Corporate Responsibility Report 2016 Overview Measuring our social impact 3 people have attended We’ve trained We’ve 22,477 a TRAINING COURSE of our created or people 5,880 pers on al 381to recognise development unconscious NEW jobs workshop bias 72,367 people Our programmes to in OUR SUPPLY CHAIN improve PRODUCTIVITY have have been helped by boosted the livelihoods of health smallholder farmers initiatives 11,398 we’ve funded We have supported Our STAFF have raised and We elped have h BOOST the people in need don ated over career 8,050 to charity of th rough prospects food £100,000 young programmes 26,103 people Our NUTRITION EDUCATION We helped 44 ebsitesw have helped business customers 8 million create new or customers make more improvedbakery products informedchoices in our CENTRE OF EXCELLENCE about what they eat Associated British Foods plc Corporate Responsibility Report 2016 4 Overview Our businesses at a glance Revenue Revenue OUR BUSINESSES £3,274m 2015: £3,177m £1,798m 2015: £1,818m AT A GLANCE Adjusted operating profit Adjusted operating profit £304m 2015: £285m £34m 2015: £33m Adjusted operating profit margin Adjusted operating profit margin 9.3% 2015: 9.0% 1.9% 2015: 1.8% Return on average capital employed Return on average capital employed 24.2% 2015: 22.5% 2.1% 2015: 1.9% A DIVERSIFIED BUSINESS The Group operates GROCERY SUGAR through five strategic business segments An enviable portfolio of A world-leading sugar leading food brands business focused on excellence Grocery 26 Sugar 42 International Europe Twinings and Ovaltine are our Our UK beet sugar factories typically global hot beverage brands. produce well over one million tonnes of sugar annually. Azucarera in Spain Europe produces over 400,000 tonnes Silver Spoon and Billington’s sugars, of beet sugar each year and has a Jordans and Dorset cereals, Ryvita, cane refining capacity of a further Kingsmill, Patak’s and Blue Dragon. 400,000 tonnes. The Americas China In the US, Mazola is the leader in We operate two beet sugar factories corn oil and we sell a range of baking in the north east of the country, with brands through retail and food service annual sugar production capacity channels.

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