CSR commitments
The ALTRAD Group is delighted to share its commitment and contribution to building a sustainable world. Discover our 2024 Sustainability Report detailing our efforts, achievements and ambitions to create a positive impact on society and the environment, enabling us to pass on and leave a better world for future generations.
READ OUR REPORT
“Acting responsibly makes sense for business and for people”
The ALTRAD group has always been driven by the values of professionalism, but it is also resolutely humanist and respectful of ethics and the safety of its staff. The group has developed a profound culture of accountability.
More concretely, to ensure and enhance the company’s sustainability and competitiveness, we are committed to creating a balance between economic performance, development and fulfilment of people, respect for the environment and social and civic commitment.
Our policies
Integrity is an essential condition for conducting business, not only because national and international regulations have increased the risk and the negative consequences of illegal or illicit behaviour, but also because integrity helps to ensure the stability and sustainability of the Group. The Altrad Group defines itself by its values of transparency and fair competition, values that go hand in hand with its success.
The Altrad Group will always endeavour to act in accordance with the strictest ethical standards. This Code reflects the Altrad Group’s commitment to integrity and is designed to help employees and partners of the Group understand clearly the standards that are expected of them and where to access further support to achieve these standards.
The Altrad Group adopts a zero tolerance strategy with regard to bribery and corruption and we are committed to:
- act with professionalism, ethics and integrity in all our affairs and commercial relationships, wherever we are;
- put in place and apply effective systems to combat bribery and corruption.
It is the responsibility of all individuals to comply with the Business Integrity and Ethics Code. It is the commitment we expect from all employees but also from all people working for and with the Altrad Group.
Each and every one of us has a vital role to play in maintaining our ethical standards. The respect of this Code should be a priority for all and it should serve as a principle guide to progress and lead to excellence.
Altrad works to preserve the environment and limit the impact of its activities. Protecting the environment in the group’s operations requires constant commitment and continuous attention. All our employees are involved over the long term to assess and manage risks efficiently and to develop the best practices regarding the environmental protection.
On a global basis, our ambition has remained the same for many years: protect our planet through vigilance and continuous improvement. For that reason, the majority of our operations conform to the internationally recognised management standard ISO 14001.
ALTRAD assesses human rights risks through robust evaluations, aligning with European and international standards to understand both the impact of human rights on its operations and its operations’ effects on society and the environment.
Modern slavery and human trafficking are crimes that affect communities and individuals across the globe. As a Group, Altrad adheres to the principles of the Universal Declaration of Human Rights, the International Labour Organisation and the Organisation for Economic Co-operation and Development (OECD). The Group specifically emphasises the respect of the Human Rights and the promotion of these fundamental principles by its suppliers. We are categorically opposed to child and forced labour and human trafficking. We reject and combat discrimination and we respect the rights of our employees and their freedom of expression.
The industrial and construction sectors, in which Altrad operates, are now at the heart of major transformations, in particular to meet the challenges of safety, improving working conditions and reducing environmental impact. These developments are particularly focused on the upstream part of the value chain, in connection with the extraction and processing of raw materials. As an international group, Altrad is committed to meeting the new standards of reporting and commitment in social and environmental matters.
In addition, Altrad is keen to anticipate the growing expectations of its customers and partners, who want to see companies integrate responsible and ethical practices into their overall strategy in the long term. It is with this in mind that Altrad has developed its own responsible Procurement Policy, thus affirming its commitment to a more virtuous and sustainable sector.
Convinced that this progress requires the participation of all stakeholders, Altrad also encourages its suppliers to develop their own policies, thus contributing, together, to a more responsible future that respects social and environmental issues.
The global nature of the sectors we work for has a significant impact on our certification processes. In order to better serve our markets, we have decided to always rely upon high international standards. This approach helps us develop our activities in accordance with all types of regulations (even local) and clients’ specific demands. For that reason, the majority of our operations conform to internationally recognised management standards (e.g. ISO 9001, OHSAS 18001 and ISO 14001).
Each entity owns and manages its own certifications for both the staff and the company, according to its needs & local requirements.
Introduction
Altrad is a global leader in the provision of industrial services, generating high added value solutions principally for the Oil & Gas, Energy, Power Generation, Process, Environment and Construction sectors. The Group is also a recognised leader in the manufacturing, hire and sale of equipment dedicated to the Construction and Building market. Approximately one third of the Group’s revenues are generated in the UK.
The impact of the United Kingdom’s decision to leave the European Union (“Brexit”) has been considered by a dedicated team at Altrad. At the time of this statement, there still remains a significant amount of uncertainty surrounding the terms and timing of Brexit, although we expect the position to become clearer in the near future.
Brexit impact
The key areas in which Brexit may have an impact on the Group include:
- Supply chain, including customs complexities and border delays
- Financial impact of tariffs
- Currency and exchange rate fluctuations
- Employees and mobility
- Regulatory changes
A considerable proportion of the Group’s UK turnover is generated with UK clients and from a UK supply chain, therefore reducing risks for our UK business.
Our most significant supplies outside of the UK consist of end products from our own manufacturing operations in Europe and our procurement from Asia. We have significant experience in import and export procedures which we are confident will allow us to manage any additional supply chain complexities without any undue impact on our business. Our businesses in the UK and in Continental Europe are closely monitoring their stock levels to be able to react and adapt to the eventual legal and political Brexit outcome.
We will continue to closely monitor Brexit developments and review our position. However, we believe that Brexit will have minimal impact on the Altrad Group.
In accordance with the requirements of Schedule 19 of Finance Act 2016, Altrad sets out below its tax strategy for all UK companies within the Group. For the purpose this of document, references to ‘Altrad’ or ‘the Group’ encapsulate all UK companies under the ownership of Altrad Investment Authority SAS.
Altrad is an international leader in the provision of industrial services, principally to the Oil & Gas, Energy, Power Generation, Process, Environment and Construction sectors. The Group is also a recognised leader in the manufacturing of equipment dedicated to the Construction and Building market. Altrad’s multidisciplinary services range from engineering and technical services to maintenance, access solutions and specialised services for industry leaders.
The Group takes a responsible approach to the management of taxes and aims to work transparently and collaboratively with stakeholders and the tax authorities in the jurisdictions in which it does business. The tax strategy focuses on ensuring that taxes and tax risks are appropriately managed to ensure the Group is compliant with its tax obligations.
This tax strategy has been approved by the Board and applies from the date of issue until it is superseded.
Risk management and governance
Altrad is proactive in managing its tax risk and utilises a robust governance framework, through implementation of this tax strategy, internal tax policies, processes, and controls.
Board level responsibility for tax is held by the Senior Accounting Officers. Day-to-day tax responsibilities are handled by the in-house tax team. Constant communication between the tax team and Senior Accounting Officers ensures appropriate oversight and engagement from the Board on tax matters.
Our tax team are suitably experienced and maintain up-to-date knowledge of tax technical aspects in order that they can suitably identify, evaluate, and advise on tax risk.
Stakeholders are required to follow a suite of internal tax policies, with the key aim that the tax team are involved in all significant business developments to ensure tax risk is being appropriately considered at all times.
The Directors of each Altrad legal entity also have a duty of care to ensure that risk is managed and that appropriate governance procedures are in place for their respective entities. To ensure that these duties are fulfilled a number of arrangements exist. These include:
- Following internal tax risk and governance policies.
- Taking decisions at an appropriate level.
- Reporting to the global Group’s Executive Management and the Directors of UK legal entities.
- Appropriate Senior Accounting Officers in respect of each business unit.
- Communication with the tax team in respect of business developments.
- Seeking and documenting external advice to support tax decisions.
- Implementing Altrad’s core values.
Attitude to tax planning
Altrad does not participate in artificial schemes or arrangements that are designed, primarily or in part, to reduce or eliminate taxation.
The Group recognises that tax can play a part in the commercial decision-making process. Where there is a choice as to how commercial arrangements are structured which have different tax outcomes, Altrad will choose to undertake the activities in such a way which legitimately provides the most efficient tax outcome provided it is within the spirit and letter of the law. Where there is any doubt as to the structure of commercial arrangements or the tax outcome of such arrangements, external professional advice will be obtained and/or discussions will be held with HMRC to gain clarity.
UK tax risk
Altrad is a large multinational organisation and as such may be exposed to a variety of tax risks. The Group is not prepared to take on tax risk that could expose it to significant reputational harm or which could severely impact its relationship with HMRC.
The Group seeks to minimise tax risk through its internal tax policies, procedures and controls. These ensure appropriate oversight from the in-house tax team to facilitate the identification, evaluation, and management of tax risks on an ongoing basis.
Working with tax authorities
Altrad is committed to maintaining a professional and transparent relationship with all tax authorities in the countries in which it operates in relation to tax planning, compliance, strategy, risks and significant transactions.
Altrad commits to making full and accurate disclosures within its UK tax returns and in correspondence with HMRC. Each legal entity will file complete and accurate tax returns and settle tax labilities in a timely manner and before the statutory deadlines.
The Group seeks to deal with issues in a timely and collaborative manner. Altrad maintains frequent dialogue with the HMRC Customer Compliance Manager and tax specialists as required.