At Beckers value creation goes beyond sales growth and profit maximization. Financial and non-financial indicators alike determine corporate strategies and success.
The Group net interest-bearing debt is interest-bearing liabilities and provisions for defined benefit pension obligations, less interest-bearing receivables and cash&cash equivalents. Stable financial results are key for Beckers to develop our operations, to maintain good stakeholder relations and to be a valued corporate citizen. Global reach and local presence are key for our future success, including our sustainability work. We set financial and non-financial performance targets, which are followed up in our reporting system. Our Chief Financial Officer holds the dual role of Compliance Officer and is responsible for managing financial risks and for correct reporting of Beckers Group’s performance.
Net sales 2020
Equity: MSEK 881
Equity ratio: 22%
Net interest-bearing debt: MSEK 645
Our Code of Conduct
The Beckers Code of Conduct defines key ethical principles that guide us in our daily business and applies at all levels, from executives and managers to line employees. We consistently apply our core values with respect to children’s rights and human rights, labor standards, environmental standards and anti-corruption. These conditions are defined in the United Nations Global Compact. Compliance with our Code of Conduct is continuously monitored by the Management of the Group. The Chief Financial Officer holds the dual role of Compliance Officer and oversees compliance on a global level. Our online Code of Conduct training has a coverage of now 69% of all employees. In parallel we developed and prepared the roll-out of a new training format. We support open and fair discussion of issues and concerns. We encourage and expect our employees to report any incidents of non-compliance or suspected non-compliance with our Code of Conduct. We have established several “whistle blowing” channels to protect the anonymity and confidentiality of those reporting. We had a total of 11 whistle blowing cases reported and all of them have been handled according to procedure and have been closed.
Our Supplier Code of Conduct
Our Supplier Code of Conduct defines our basic requirements for all suppliers of goods and services, in particular concerning their responsibilities towards their stakeholders and the environment. Beckers expects its suppliers to adhere to international human rights and environmental laws and practices, monitor their ethical performance, and take immediate and thorough steps in cases where this ethical performance comes into question.
Anti-corruption and bribery
No one may, directly or indirectly, demand or accept, offer or give any kind of bribe, kickback or any other unlawful or unethical benefit to employees or other representatives or associates of the Beckers Group or its companies or any third party. There were no legal actions for corruption in 2020. 377 employees have been trained in anti-corruption policies in 2020.
All companies within our Group compete vigorously but honestly for business and uphold the highest standards of business ethics. We respect anti-trust and fair competition laws that prohibit certain actions that unfairly and dishonestly harm competitors. We also act in accordance with fair business, marketing and advertising practices. There were no legal actions for anti-competitive conduct, antitrust or monopoly practices in 2020.
The UN Global Compact
The UN Global Compact has been a fundamental part of our values and Code of Conduct for many years. By signing the Global Compact, we take responsibility within the areas of human rights, labor, the environment and anti-corruption, and make an even stronger commitment to taking action and reporting on our progress.
We believe that value creation goes beyond sales growth and profit maximization. That is why we are adopting the fundamental principle within our organization that non-financial management, controlling, and targets will increasingly determine corporate strategies and success. We will judge the success of our business model in terms of our impact on people and the planet as well as financial profits. Our management will use our purpose and our values as a starting point to develop strategies and integrate measurable targets into their business plans. In 2020 we laid the foundation for that. From 2021 onwards the sustainability targets become part of individual target setting for all employees.