Management's review
Beskrivelse af virksomhedens hovedaktivitet:Our strategyOur purpose, strategy and valuesIn 2023 we kept focus on our growth drivers and sustaina- bility priorities. Despite turbulent times these remained rele- vant and guiding for our strategic decisions during the year. In the autumn of 2023, we initiated a strategic review and will be ready to present a new corporate five year business plan during 2024. Our purposeCustomers are the foundation of our business and we are here to improve their everyday lives. Not least in times of high inflation and rising prices. By offering affordable prices on a wide range of daily necessities, we played an important role in enabling our customers to handle their daily expenses, without having to compromise e. g., a healthy lifestyleOur corporate priorities (5K)During autumn 2023, we launched our new corporate prior- ities, the 5KsCustomers (Kunder)Our customers are absolutely vital to us. As a result, we always look at things from the customer’s point of view to ensure the best possible shopping experience. Colleagues (Kolleger)We create a motivational workplace with an attentive and inclusive leadership that provides opportunities and space for everyone to grow. .Gender diversity (Kønsdiversitet)We break down barriers and create an environment that allows talented individuals to develop and pursue a career regardless of gender – also in leadership positions. Culture (Kultur)We build a culture where curiosity and drive help us to learn new things and become better. Climate (Klima)We recognise climate challenges and accept our responsi- bility for reducing our climate footprint, including imposing demands on our value chain. Our values and foundationOur business is based on a strong foundation; i. e., the people we employ and the products we sell. Our values help create a unified spirit – across all formats and functions. They indi- cate what we expect from each other as colleagues at Salling Group, and what others can expect from us. Serving a higher purposeSalling Group is 100 percent owned by the Salling Foundations, which means that all profits that are notreinvested in stores, concepts and customer experi- ences are given back to the society we are a part of. Since 2012, the Salling Foundations have donated more than DKK two billion, including DKK 244 million in 2023, to culture, sports, charity, church, education and research. This means that each and every Salling Group employee through their daily service and efforts in stores, cafes, restaurants, warehouses and offices are supporting local sports and leisure associations, Team Danmark Olympic athletes, cultural institu- tions, initiatives for young people's mental health and well-being and much, much more. OwnershipSalling Group and the Salling Foundations are named after our founder Ferdinand Salling, who in 1906 opened his draper’s shop in Århus. The shop gradually grew, and in 1948 the first part of Salling department store was opened. After his death in 1953, his son Herman Salling took over the business and began to modernise and expand Salling’s department stores, adding supermarket format føtex in 1960, hypermarket format Bilka in 1970 and dis- count format Netto in 1981. Following a buy back of the shares from Mærsk, the Salling Foundations resumed full ownership in 2017 and subsequently renamed the company to its current name, Salling Group. Salling Group owns Netto discount stores in Denmark, Poland and Germany, the føtex supermarket and Bilka hypermarket chains as well as the Salling department stores, the BR toy store chain and associated online stores in Denmark. In addition, the company operates the Starbucks and Carl’s Jr. franchise chains on the Danish market, making Salling Group Denmark’s largest retail group, with 12 million customers visiting our stores and restaurants every week. Salling Group’s purpose is to improve everyday life – for our customers and for the communities we are part of. We do this by offering sustainable solutions, improved shopping experiences, job opportunities for all and not least by making local donations to worthy causes through our owners, the Salling Foundations. SubstainabilitySalling Group’s sustainability strategy is based on a two-pil- lar foundation and two key priorities. Our foundation is the people we employ and the products we sell, as they com- bine to form the core of our business and are areas where we raise the bar and constantly seek to push our efforts further. Our priorities are Climate and Health where we have the oppor- tunity to make the most significant difference as a company. Climate change is one of the biggest challenges of our time and we are fully committed to this shared agenda. As a diverse retailer active across borders we also have an obligation to make healthy choices accessible and available to all. Salling Group has been committed to the sustainability agenda for years working on important agendas like inclu- sion, social responsibility and climate change. That is why we were particularly proud of receiving the EY and Danish Chamber of Commerce’s special prize for Long Term Value Creation in 2023. The prize is given to companies that have consistently demonstrated a strong commitment to sustain- ability and have achieved significant positive impacts over time. However, we are not working on our own on these agendas – and our continued efforts to delivering on our strategy requires partnerships and engagement with cus- tomers, communities, suppliers, and more. We are continually defining a number of focus areas that support our strategic priorities and the three aspects of sustainability: Environment (E), Social (S) and Governance (G) issues. Some of the key focus areas that we consider are: Climate, Deforestation, Food waste, Packaging, Health, Diversity and Inclusion, Product safety and sustainability, Responsible tax, and Human rights. In this report we briefly cover the key focus areas that has been our main points of attention in 2023, while you can read more on our website. https://www. sallinggroup. com/en/esg
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