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Integrated Report 2013 3

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Integrated Report 2013 3 ABOUT THE REPORT REPORT ON MAJOR BUSINESS THEMES It is with great pride that we present to you, our readers, the Votorantim Cimentos Integra- ted Report 2013. In the preparation this report, we have sought to demonstrate our achie- vements, advances and efforts during the year, especially in relation to economic, financial, governance, social and environmental aspects. INTEGRATED For the first time, we have constructed a materiality matrix which is specific to Votorantim Cimentos. This has enabled us to identify the main issues relevant to the company’s business and to advance in the process of incorporating these strategic issues into the company’s ma- nagement processes. Prior to this, we had been using the materiality matrix developed by our REPORT 2013 parent company, Votorantim Industrial, for the Group’s industrial companies as a whole. To enhance the credibility of the report, it has been prepared in accordance with the core option of the G4 version of the Global Reporting Initiative (GRI) guidelines, the most advanced methodology for sustainability reporting. We participate in the integrated reporting initiati- ve of the International Integrated Reporting Council (IIRC), and have described our business model and increasingly incorporated the IIRC guidelines into our management approach, through a process of continuous improvement. The report has also incorporated specific EPORT – 2013 – EPORT R content established by the Cement Sustainability Initiative (CSI), of which Votorantim Cimen- tos is a signatory and founding member The CSI was created in 1999 by the World Business Council for Sustainable Development (WBCSD) to develop solutions for sustainability issues RATED RATED G in the cement industry. Furthermore, the report content has been correlated to the principles of the Global Compact, an initiative of the United Nations (UN), which calls on companies to INTE manage their businesses in accordance with ten universally accepted principles, in the areas of human rights, labor rights, environmental protection and anti-corruption. Overall we have presented 39 indicators of the GRI framework for the period from January 1st to December 31st 2013 and information related to certain relevant events in 2014. The information herein refers to the company’s operations in Brazil (VCBR), Canada and the United States (VCNA – North America), Spain, Turkey, India, Morocco, Tunisia, and China (VCE- AA – Europe, Asia and Africa) and Bolivia, Uruguay, Peru, Chile and Argentina (South America). PricewaterhouseCoopers (PwC) audited the financial information and provided limited assurance on certain social and environmental information, and its opinions are included in this report on pages 15 and 17 respectively. [G4-17, G4-28, G4-29, G4-30, G4-32, G4-33] This principle aim of this integrated report is to demonstrate our commitment to be accoun- table to all of our stakeholders in a transparent manner. In addition to presenting our pro- gress on our targets, the report aims to describe how we have incorporated an integrated management approach (economic, social and environmental) into our day-to-day business activities. Questions, suggestions and comments related to the report are most welcome and should be directed to the following address: [email protected]. Further information is available on our website: www.vcimentos.com.br. [G4-31] OUR PRODUCTS AND SERVICE OUTPUTS ■ BASIC CONSTRUCTION MATERIALS AND SERVICES OUR RESOURCES INPUTS ■ INFRASTRUCTURE ■ HUMAN RESOURCES ■ REAL ESTATE ■ MINERAL RESERVES ■ DOITYOURSELF CONSTRUCTION ■ PLANT AND EQUIPMENT ■ INDUSTRY ■ THERMAL AND ELECTRICAL ENERGY ■ SERVICES INCLUDING TRANSPORT OUR BUSINESS ACTIVITIES OUR VISION CUSTOMER FOCUS EMPOWERED PEOPLE BESTINCLASS OPERATIONS SUSTAINABLE PRACTICES OUR VALUE CREATION OUR IMPACTS OUTCOMES ■ SAFETY AND DISTRIBUTION ■ CO EMISSIONS ■ ECOEFFICIENCY AND OUTCOMES ■ AIR EMISSIONS INNOVATION ■ EMPLOYEE SALARIES AND BENEFITS ■ ■ ETHICS AND COMPLIANCE BIODIVERSITY AND LAND USE CHANGE ■ ■ GOVERNMENT TAXES ■ WATER COMMUNITY ENGAGEMENT ■ ECONOMIC DEVELOPMENT ■ WASTE OF LOCAL COMMUNITIES AND SUPPLIERS ■ SHAREHOLDER DIVIDENDS ■ CUSTOMER SATISFACTION List of contents MESSAGE FROM THE PRESIDENT 02 COMPANY PROFILE 04 CONSTRUCTION OF THE MATERIALITY 13 Letter of assurance 15 MARKET CONTEXT 18 STRATEGY 25 Vision and strategic drivers 26 Governance 29 Risk management and compliance 32 Economic performance 35s PEOPLE 40 SUSTAINABLE PRACTICES 49 RELATIONS WITH STAKEHOLDERS 66 GRI INDEX 76 GRI statement 76 ADDITIONAL INFORMATION 86 UN Global Compact principles 103 Financial statements 104 2 VOTORANTIM CIMENTOS The year 2013 marked the beginning of a new cycle of value MESSAGE FROM creation for Votorantim Cimentos. I joined the team this year, in June, with a mission to contribute to the continuation of THE PRESIDENT the company’s success story. It is with great pride that I share with you the reasons for celebrating our achievements in the ONE TEAM, past year: we made significant progress in our operational results. We ended the year with a net income of R$ 12,142 ONE COMPANY million (+29%) and Ebitda of R$ 3,517 million (+14%), due to the good performance of our operations in Brazil and the United [G4-1] States, as well as the incorporation of our new operations in Europe, Asia and Africa (VCEAA). As a result, our sales grew at a rate higher than the market average, with record production levels and increased market share in almost all our regions. In 2013, our cement sales volume reached 38 million metric tons (+31%) and our global installed capacity rose to 53.9 million metric tons per year, of which 31.7 million metric tons in Brazil. It was also a year marked by the consolidation of our process of internationalization, as we began to reap more consistent benefits from the greater level of synergy in our operations. Based on this new global context we decided to rethink the way we do business. The first step on this new journey was the creation of the movement “One Team, One Company”, with the aim of imple- menting global governance processes and seeking a greater level of integration between all our businesses. We began by organizing the many regions in which we operate into three geographical areas: Brazil, North America and Europe, Asia and Africa. Then, we set up the Global Executive Team (GET) to promote our global strategic alignment, harmonize poli- cies and implement best practices throughout the organiza- tion; similarly, we set up the Brazilian Executive Team (BET) to develop the integration of the operations in Brazil and capture functional synergies from the various businesses; we established the Votorantim Cimentos Board of Directors composed of members representing the holding company, shareholders and an external advisory and also Committees for Audit, Finance, Strategy, and Remuneration and People. In addition, as part of the process to improve management, we are increasingly seeking to implement the International Inte- grated reporting Council (IIRC) guidelines, that are founded on a more holistic view of business. To strengthen our relations with customers we have re- thought and restructured the way we operate in sales and marketing. We are now directing our sales teams and the en- tire organization to “go to market” – with our Sales Excellence project. As a result of the restructuring, all of our sales teams INTEGRATED REPORT 2013 3 are now organized by business segments and market the only one of our strategic drivers but is also a cross-cutting entire portfolio of products (cement, concrete, aggregates concept that we have to work on in order to embed it in all and complementary products such as lime and mortar). This of our business activities. This is a driver of value not only for enables them to better meet the needs of our customers and our shareholders but for all our stakeholders. Votorantim partners, in a comprehensive manner, rapidly and transpar- Cimentos, as the market leader in Brazil and one of the larg- ently, and with a focus on creating mutual value. All of this est global companies in the construction materials sector, in- aims to ensure that the customer will always find the product tends to play a leading role in the search for solutions to the that fulfils the need and provides the best technical solution. sustainability challenges faced by the industry globally. We are working to achieve benchmark status as a responsible All these changes and transformations were guided by our company that is economically, socially and environmentally vision that has guided our actions as from 2014. That is, we sustainable. seek to be a construction materials company that is commit- ted to customer success through excellence. This is based on Finally, the good financial results of 2013 contributed to four main strategic drivers: customer focus, employees with our being “crowned” in April this year, by being awarded an autonomy, operational excellence and sustainable practices. investment grade rating, on a global scale, by Standard & Poors, Moody’s and Fitch Ratings. As a result, Votorantim In relation to this last strategic driver, sustainable practices, Cimentos became the first Brazilian company in its sector to Votorantim Cimentos has spared no effort to improve. Inter- be awarded such a rating by the three major rating agencies. nally, we have a number projects underway aimed at reducing This recognition motivates us to move forward, to imple- the ecological footprint of our operations, not only in terms ment a series of actions and initiatives that will lead us in of carbon emissions, but also in terms of the more efficient the direction of our vision. This means truly incorporating use of water, the use of alternative fuels, the co-processing of structural and governance changes, leveraging the competi- waste and the search for more sustainable raw materials for tive advantages of this transformation and focusing increas- our products. Votorantim Cimentos is a pioneer in Brazil in ingly on meeting the needs of our customers. In addition to the production of artificial pozzolan, a cementitious mate- conducting the business with transparency, following the rial made from non-traditional inputs.
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