ESG
Report
2023
ESG REPORT
2023
About the 2023 ESG Report
The USJE ESG Report 2023 covers the period from January 1st until December 31st, 2023 (referenced herein as 'Report').
The Report has been developed to meet our stakeholders' needs and expectations regarding USJE's performance in the areas of Environment, Social and Governance (ESG). USJE is aligned with TITAN Group for the approach and standards in monitoring, reporting, and verifying its disclosures on performance in the Report.
Since 2009, USJE has voluntarily committed to disclosing annual environmental, social and governance performance and connecting with the stakeholders' material issues.
Тhe total number of direct employees and Health and Safety performance data in this report include the employees of Cementarnica USJE AD Skopje and Opalit DOOEL. All other disclosures in this report refer only to the operations of Cementarnica USJE AD Skopje.
All our reports are published on our website www.usje.mk
4
ESG REPORT 2023
Contents
2023 at a glance | 6 |
Message from the 2023 Chief Executive Director | 8 |
Interview with the incoming Chief Executive Director | 9 |
Overview | 10 |
About TITAN Group | |
About USJE | |
Management report | 28 |
Corporate governance statement
ESG performance review
Decarbonization and digitalization
Growth-enabling work environment
Positive local impact
Responsible sourcing
Good governance, transparency and business ethics
ESG performance statements
UNGC ten principles
Financial highlights
Independent auditor's report and financial statements Glossary
5
2023 at a glance
Financial figures | ESG data |
Revenue | Employees (as of 31 December 2023) |
6,051 mil MKD | 237 |
EBITDA | New hires in 2023 |
1,910 mil MKD | 31 |
NPAT | Green investment |
1,509 mil MKD | 18.5 mil MKD |
Total assets
6,410 mil MKD
Capital expenditures
Health and Safety training hours
per employee
26
Lost time injuries frequency rate
563 mil MKD | 2.34 |
6
ESG REPORT 2023
7
Message from the 2023 CED
Dear partners,
Volatile economic and political circumstances seemed to persist during 2023 also, posing challenges for citizens, companies and societies worldwide. Navigating these "uncharted waters" has not been easy. However, this has proven our company's ability to adapt and work in extraordinary conditions, helping us achieve significant accomplishments and end the year with a positive result.
In 2023, the demand for cement in the domestic and foreign markets stabilized, while we continued offering high-quality reliable products and solutions to our customers, along with detailed technical support. Our product portfolio contains eco cements with a lower clinker amount, which contributes to reduction of CO2 emissions. In 2023, pozzolan-based eco cements were one of the best sellers, which is an important fact for us, given that decarbonization is one of the main goals for Cementarnica USJE and TITAN Group.
Reaffirming environmental management and protection of natural resources among our top priorities, we commissioned the photovoltaic plant with installed power of 3 MWp. This major project in Cementarnica USJE is planned to substitute around 10% of the daily electricity consumption of the plant by renewable energy.
We are on track with the digital transformation through the digitalization of our customer-related and internal processes, thereby not only improving customer experience, but also significantly increasing the transparency and efficiency, which also benefits the environment.
We successfully implemented a cutting-edge solution designed to optimize the loading process for trucks, as well as world class enterprise resource management solution to streamline and integrate all business processes.
We firmly believe that our sustainable growth depends on the engagement, performance, and dedication of our employees, which is why we continued with our programs for ensuring their wellbeing, professional development and engagement, as well as safe and healthy working conditions and an inclusive working environment. Our employees' contribution to achieving consistent results in such a challenging year has been highly recognized and appreciated. They remain an invaluable resource in achieving the ambitious plans and securing the stable future of the company.
Our community involvement and contribution to its sustainability was achieved with the implementation of various projects and partnerships with our stakeholders, initiating and enabling positive changes in the community. Our engagement in such activities has demonstrated our corporate responsibility and positive influence in different society segments including youth, education, health, as well as support of civil society organizations.
All achievements and company activities have been carried out in alignment with the UN Sustainable Development Goals, which are an important guiding framework for our company in terms of planning and decision making. Furthermore, all our actions and decisions
are based on our key principles
Boris Hrisafov
Chief Executive Director
of integrity, transparency, and business ethics.
Even though presented with many different challenges and obstacles that tested our strength and resiliency, our company once again demonstrated exceptional capacity to deal with challenges, thus reasserting our position as a solid and stable market leader, whom our partners, customers and employees can trust and rely on. We will continue to work on solidifying and further improving our abilities and capacities to quickly adapt
to any change and overcome any adversity, futureproofing our position as a stable, reliable, modern, and environmentally conscious company.
Boris Hrisafov
Chief Executive
Director
8
ESG REPORT 2023
Interview with the incoming CED
You joined TITAN USJE on February 1st 2024. What are your first impressions and forward looking business perspective?
I am glad to become part of Cementarnica USJE team, which I understand achieved amazing results in 2023, despite the challenges of turbulent markets in the last couple of years. Following the TITAN Group strategy, USJE is focused on achieving operational excellence in all areas of our work, extending to the domain of ESG performance and achievement of the targets set for 2025 and beyond. Thus, USJE's efforts have been and will continue to be directed in accomplishing excellent results when it comes to the environment, the social impact and the good governance.
How does USJE intend to balance sustainability objectives with maintaining competitiveness in the market?
Given that climate change is highest priority on a global scale, our contribution towards its mitigation is reflected in our decarbonization activities. Therefore, our company will continue to expand the eco-cement portfolio and to double the efforts to promote energy efficiency, to increase the use of renewable energy and to reduce greenhouse gas emissions. These efforts will include building strong bridges with our business partners and suppliers, as well as with institutions and the local community.
Looking ahead, which are your objectives and aspirations?
We will maintain our focus | |
on digitalization as one of the | |
key drivers for growth, higher | |
productivity and reliability, using | |
digital solutions to modernize and | |
upgrade internal processes, as well | |
as customer experiences. | |
We will continue to navigate a | |
complex regulatory environment | |
and adapt to changing market | |
conditions. However, we will | |
remain dedicated to sustainable | Konstantinos Nikolaou |
development of our company. | Chief Executive Director |
We can achieve this only through | |
sincere and close cooperation with | |
all our partners to assure mutual | |
support and joint advancement | |
and by implementing activities | |
and projects of significance for our | |
company, for the national economy | |
and for the society at large. | |
As we move forward, we aim to | |
continue building great teams, | |
maintain profitable growth and | |
also become one of the safest, | |
most customer-friendly, innovative, | |
digitalized and green businesses in | |
the construction materials industry. |
Konstantinos Nikolaou
Chief Executive Director
9
Overview
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Cementarnica USJE AD Skopje published this content on 07 May 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 07 May 2024 07:27:01 UTC.