Business ethics is integral to Hegelmann Group business activities. The Group aims to create and foster ethical business culture, prevent corruption and bribery and compete fairly.

The Group’s position and broader approach to business ethics is described in the following documents which are accessible to all stakeholders:

Hegelmann Group does not tolerate corruption of any kind and is committed to open competition, ethical business conditions and adequate transparency in their operations. The Group does not tolerate fraud, extortion, the creation of unofficial accounts, the execution of unofficial and improperly documented transactions, the recording of fictitious expenses, the use of false documents and other forms of corruption. The anti-corruption provisions apply to all employees of the Group, members of the management and supervisory bodies and third parties acting on behalf of the Group.

The risk is mitigated by having complex internal control mechanisms in place to identify potential corruption risk factors. The Group continuously monitors and improves their business processes. Following the provision of the Whistleblower Protection Directive No (EU) 2019/1937, Hegelmann Group has implemented both an internal and external channel for the handling of complaints.

There were no significant cases of non-compliance during 2023. There were also no fines for non-compliance with laws and regulations. The Group complies with the law as defined by government regulations in countries that the Group companies operate in.

No cases of corruption were reported in 2023.

During the reporting period, all relevant employees received anti corruption training, internal and external ISO audits were also carried out to review operational procedures.