Social matters

Vossloh maintains an ongoing dialog with its internal and external stakeholders. In doing so, it is important for the Company to address the individual groups directly and take their interests into account. The following table provides an overview of the issues involved in the stakeholder dialog along with the dialog formats Vossloh uses:

StakeholderTopicsDialog formats
Customers
  • (new) Vossloh products and services
  • Product and service quality
  • Customized solutions for the respective task
  • Quick response to inquiries, as well as order handling and logistics
  • Regular customer talks
  • Customer surveys
  • Publications (printed and digital)
  • Participation in trade fairs
  • Events for/with customers
  • Integration of customers into the system by means of EDI (Electronic Data Interchange)
Capital market participants
  • Development of the Company’s value
  • Current business development
  • Strategic alignment of the Company
  • Corporate governance as per the relevant rules
  • Commitment to sustainability
  • Financial reporting
  • Annual General Meeting
  • Investor conferences
  • Conference calls
  • Roadshows
  • Capital markets days
  • Website
Employees
  • Employment contract regulations
  • Internal communication
  • Dialog with the executive level
  • Opportunity for further training
  • Promotion of junior employees
  • Regular performance reviews
  • Employee magazine “in motion”
  • Employee surveys
  • Exchange forums and project teams reaching across national borders, hierarchies, and divisions.
  • Vossloh learning platform
  • LEAD! development program
Suppliers
  • New/alternative materials
  • Framework conditions for supplier agreements
  • Communication of scope of supply specifications
  • Regular supplier meetings
  • Participation in trade fairs
Media/trade press
  • External portrayal of the Company
  • Reports on industry-specific topics
  • Information about interesting projects
  • Press releases
  • Website
  • Social media presence
  • Publications in journals
  • Participation in trade fairs
Science
  • Dialog between scientific institutions and the industry
  • Reports on research work
  • Collaboration to solve specific tasks
  • Expert involvement in research projects
  • Publications in journals
  • Promotion of science (awards, supporting work for dissertations, etc.)
Associations
  • Active participation in industry-wide dialog
  • Involvement in the work of associations
  • - Information about the underlying conditions and regulations in markets
  • Involvement in the designing of events, conferences, etc., of associations
  • Involvement in association bodies
  • Participation in trade fairs
  • Involvement in standardization committees
  • Involvement in market studies

CSR

In accordance with the current decentralized Group structure, social aspects fall under the scope of responsibility of the operating unit; as such, there is no Group-wide concept in place. In addition, the contributions made to the community by the individual corporate entities at the various sites are not systematically recorded. For this reason, it is not currently possible to make statements for the business units or divisions in this regard. The risks arising from these endeavors are, however, part of the Group’s risk reporting.

Individual companies traditionally support civic society at their respective locations in a variety of ways. For example, the Lifecycle Solutions division uses funds that can be donated to charitable organizations to promote increased participation in social, athletic, cultural or environmental areas by its employees. Vossloh entities in the Switch Systems business unit donated chairs to a school in 2019, planted trees and actively contributed to the success of children’s school holiday programs. The Tie Technologies business unit makes donations for social purposes. At Austrak Pty. Ltd., employees have a paid absence day that they can use to work for a charity organization of their choice. A large number of Vossloh employees also volunteered in their local communities in their free time.

Additionally, Vossloh’s research and development departments in particular collaborated with a number of universities and research institutes at varying levels and in various constellations, including in Germany, France, Sweden, China and the US. Among other things, Vossloh also awards prices for particularly out-standing academic performance – such as the top graduate of the Financial Management course at the University of Applied Sciences Europe in Iserlohn.