At Beckers, we take a broader view on value creation than just growth and profit maximation. That’s why our success is equally determined by financial and non-financial indicators. This approach combined with our investments into sustainable solutions show our commitment.
At Beckers, both financial and non-financial KPIs determine our corporate strategy and success. Consistently stable financial results are essential to maintaining our good stakeholder relations, developing our operations and being able to make investments into sustainable innovation. And equally important for our success is our sustainability work. With our reporting system we track non-financial KPIs for product sustainability, people safety, and energy efficiency among many others and use them to measure the created non-financial value and steer the company.
By including economic, environmental and social considerations when measuring value, we make more informed and responsible business decisions and enable better prioritization of resources. We understand the risks and opportunities that our environmental and societal impacts entail and set an example for accountability and transparency.
Our owner Lindéngruppen’s Value Creation Model focuses on true value creation. The model includes net income as well as six externalities that can be monitized: Salaries and pay, Taxes and subsidies, Carbon emissions, Waste, Occupational health and safety and Gender equality. Moreover, we include six externalities that cannot yet be monetized. The twelve externalities are those that have the greatest impact on our overall value creation.
Based on our global process for Capital Expenses (CapEx) introduced in 2021, we focus on sustainable investments. Our strategic plan up to 2025 shows that a huge amount of our investments will directly contribute to reaching our 2030 Sustainability Goals. The investments reach from the installation of improved VOC abatement systems, insulation and solar panels to the construction of a new Long-Term Development (LTD) lab for sustainable technologies.
In 2022, we made major investments to improve the sustainability performance of our factories, to modernize our sites to increase capacity and the productivity and to reinforce the safety of our employee and plant infrastructure. All 23 Beckers sites developed Industrial Plans, defining the CapEx strategy that is required to achieve the local 2030 Sustainability Goals. In addition, we are pursuing the implementation of the ➜ “Paint Plant of the Future” (PPF) concept for increased automation, sustainability and efficiency of the sites.
After planning and decision in 2022, the construction of the brand-new Sustainable Innovation Centre for the LTD group in Liverpool starts in 2023. This center will bring together a number of sustainability-focussed innovation tracks, with a big focus on developing the next generation of ➜ UV/EB radiation curing products and technologies.
