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:

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.