We regularly exchange information and ideas with our stakeholders. In this regard, our objective is to identify and understand their needs, expectations, and positions and to consider these in our business decisions wherever possible. Concurrently, this stakeholder dialogue also serves to foster acceptance for our objectives and actions.
Our customers, the capital market players, and our employees are the most important stakeholders of our enterprise. In addition, we regard our suppliers and the representatives of civil interest groups such as the media, non-governmental organizations, and scientific institutions to be key stakeholders as well.
Key stakeholder categories for the Bilfinger Group
In everything we do, our focus is on the needs and requirements of our customers. Maintaining direct contact with them is key to the success of our company. This is why we regularly seek to enter into a dialogue with our customers and to share our views and experiences at regular meetings in the context of joint projects. We also conduct periodic surveys to determine our clients’ level of satisfaction with us and our services (also see the section entitled “Customer satisfaction & quality”).
The business relationships we have with our customers in many cases are long-standing and intensive. Often, the solutions and innovative ideas found will have been developed collaboratively with them, and a large part of our engineering work and services is delivered on site at our clients’ premises. More and more of our customers are asking us to provide them with information about our sustainability-related KPIs and activities. Increasingly, these disclosures are becoming a precondition for working with us.
Our strategy aims to increase the value of our company over the long term. To this end, maintaining open communications with the capital market is essential. Accordingly, we regularly explain our business performance, provide our financial and non-financial KPIs, and lay out our business strategy. We foster direct dialogue with capital market participants, particularly our own shareholders, in a variety of formats such as one-on-one meetings, roadshows, and conferences as well as the Bilfinger Annual General Meeting.
Our workforce is the foundation of our company. As a consequence, we consider extensive internal communications to be an indispensable factor for success. We use the Bilfinger intranet to provide information on day-to-day matters while topics requiring in-depth presentation are addressed in the Bilfinger Update, our monthly online magazine for employees. The more intense exchange of information and ideas among employees is further fostered by the large number of internal communication channels we have in place, such as telephone conferences, livestreams, circular emails, and employee assemblies, as well as through the various lines of communication available through the mechanisms and bodies associated with the co-determination system.
In many cases, the relationships we have with service providers, suppliers, and subcontractors are the result of many years of collaboration. They support us in developing innovative solutions for our customers and help us to in structuring efficient processes. We assure our business partners’ performance by the Group-wide supplier management system, by the Code of Conduct for Suppliers and the regular assessment of their performance. Inasmuch, we insist that our suppliers live up to the standards set by Bilfinger (also see the Section entitled “Sustainable supply chain management”).
Both locally and at the Group level, we value the opportunity to dialogue with organizations and initiatives that bring together and formulate topics of concern to society at large. These include, amongst others, non-governmental organizations and scientific institutions. We also stay in close touch with media representatives so as to keep the general public up-to-date about the latest developments at Bilfinger. We make comprehensive information available on the internet and offer a wide range of opportunities for dialogue via our social media channels.
Both through corporate headquarters and its subsidiaries, Bilfinger is a member of numerous trade associations and lobby groups at the international, domestic, and regional levels. In financial year 2018, these included Wirtschaftsverband für Industrieservice (WVIS, Federation of Industrial Services Providers) and Fachverband für Dampfkessel-, Behälter- und Rohrleitungsbau (FDBR, Association of Steam Boiler, Pressure Vessel, and Pipeline Manufacturers).
To further promote our development of sustainable products and services, we are also a member of Deutsche Unternehmensinitiative Energieeffizienz (DENEFF, German Industry Initiative for Energy Efficiency), Deutsche Energie-Agentur (dena, German Energy Agency), and the European Industrial Insulation Foundation (EiiF).