Building communities and responsible partnerships

Creating value for society – outcome 2018

As an international company with almost 2,500 co-workers, there comes a responsibility to contribute to the societies where we operate. Our contributions in the form of taxes via e.g. corporate income taxes, energy taxes, employer taxes, indirect taxes as well as employee taxes, is one direct way of contributing to the societies.

Managing our tax affairs properly and in line with the rules and regulations across the world is therefore of significant importance to Höganäs. Our obligation is to pay the amount of taxes required by the law in any continent where we operate, in accordance with rules set by the relevant governments and with due consideration to the ethical aspects of tax management. Consequently, we always strive to ensure compliance with transparency requirements and we do our utmost to avoid transactions or arrangements that may be considered aggressive tax planning. Neither do we in any circumstances engage in transactions or structures considered as tax evasion. 

For key leaders and specialists, we offer a variable pay programme. This programme is up for review in 2019. The bonus programme for 2018 is based on two parameters – financial performance of the company and individual performance, where the major part (in most cases 70 percent) is based on the financial performance of the company. The financial targets are based on Group Operating Income. The individual targets increasingly comprise of sustainability aspects. In 2018, significant improvement of the safety performance formed part of the bonus requirements for the management team.

Value created  
Supply chain 7,753 MSEK
Tax payments 175 MSEK
Salaries, other benefits and social security expenses 1,810 MSEK
Investments excluding acquisitions 671 MSEK