Climate Change Data

Environmental Metrics

ESG Focus Areas

• Environmental
• Social
• Governance

Environmental Achievements

• Strive to limit negative environmental effects by matching employee living and working areas, grouping appointments geographically, investing in a greener vehicle fleet, and using modern communication. Focus on flexible schedules, home connections, reduced paper consumption, and economical printing for on-site personnel.

Social Achievements

• Provides a pleasant working atmosphere and opportunities for professional and personal development for employees. Organizes regular training sessions and encourages knowledge sharing. Offers career advancement opportunities and maintains an open communication culture. Employs people from diverse cultural and social backgrounds. Offers financial participation through warrant plans.

Governance Achievements

• Adheres to the Belgian Corporate Governance Code. Established an Audit Committee and a Remuneration Committee. Implemented procedures to address conflicts of interest, including a detailed process for related-party transactions. Maintains PCI-DSS certification for enhanced data security.

Climate Goals & Targets

Environmental Challenges

• Rapid technological changes in the payment market requiring frequent product development and adaptation to customer needs.
• Potential for credit risk concentration, although mitigated by a large and geographically diverse customer base.
• Legal proceedings and claims, although management believes these are of secondary importance and within the scope of normal business operations.
• Need for additional financing in 2011.

Mitigation Strategies

• Continuous investment in innovation and quality, partnering with international players for high-quality products at acceptable prices.
• Diversification of suppliers to reduce dependence.
• Establishment of provisions for contingent liabilities.
• Securing additional financing through various sources including loans, warrant exercises, and debt conversions.

Supply Chain Management

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: Belgian Corporate Governance Code

Certifications: PCI DSS Level 1

Third-party Assurance: BDO Bedrijfsrevisoren CVBA

Environmental Metrics

ESG Focus Areas

• Environment
• Social
• Governance

Environmental Achievements

• Investing in a greener vehicle fleet; use of modern means of communication; reducing the number of packages and harmful packaging materials; extensive sorting of waste; the disposal process for end-of-life equipment.

Social Achievements

• Celebrated 20-year existence together with partners and customers; created a pleasant and motivating working atmosphere, in which employees are given opportunities to develop professionally and personally; fostered regular contact between the staff of different departments, company presentations and company meetings; analysed customer feedback and actively incorporated it into various working groups and information sessions; passed on relevant market information and innovations actively to the various teams.

Governance Achievements

• Adopted the Belgian Corporate Governance Code 2009; updated Corporate Governance Charter; Board of Directors met 9 times in 2016; Audit Committee convened five times in 2016; Remuneration Committee convened twice in 2016; established a guideline with regard to insider trading; no transactions took place during 2016 that would have required the application of article 523 and/or 524 of the Belgian Company Code.

Climate Goals & Targets

Environmental Challenges

• Rapidly developing market with changing customer needs and frequent new products; changing industrial standards; legal proceedings; concentration of credit risks; supplier dependence; customer dependence; environmental impact of sales, installation and support teams.

Mitigation Strategies

• Responding quickly to new market conditions or new technologies; investing in new technologies with proven market potential; investing in complementary payment transaction-related solutions; active management of the value chain; expanding product range; participating in a technologically innovative company (Magellan); commercializing a payment app (EasyOrder); geographic expansion (Germany); developing alternative sourcing strategies; grouping appointments geographically; investing in a greener vehicle fleet; using modern means of communication; reducing packaging and harmful packaging materials; extensive waste sorting; end-of-life equipment disposal process.

Supply Chain Management

Responsible Procurement

• Contracts with global players such as Ingenico, Worldline, EMS, Six, and PaySquare for payment terminals and transactions.

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: IFRS

Certifications: PA DSS 3.1 (Magellan)

Third-party Assurance: BDO Bedrijfsrevisoren

Environmental Metrics

ESG Focus Areas

• Governance
• Social

Social Achievements

• Appointment of two female directors to comply with women's quota legislation.

Governance Achievements

• Updated Corporate Governance Charter.
• Established guidelines on insider trading.
• Implemented procedures for conflict of interest.

Climate Goals & Targets

Environmental Challenges

• Rapid technological evolution in the payment terminal market.
• Increased price sensitivity among customers.
• Changing industrial standards (PCI standards).
• Shift towards fintech applications reducing the importance of traditional payment terminal activities.
• Customer dependency in the software segment (top 3 customers represent 61.7% of revenue in 2019).

Mitigation Strategies

• Transition to the software segment.
• Expansion of product offerings.
• Diversification of activities (Magellan and EasyOrder).

Supply Chain Management

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: Belgian Corporate Governance Code 2009

Third-party Assurance: EY Bedrijfsrevisoren BV

Environmental Metrics

ESG Focus Areas

• Environment
• Social
• Governance

Environmental Achievements

• Reduced paper consumption through electronic communication and invoicing
• Invested in a greener fleet of vehicles
• Reduced electricity consumption by replacing old equipment

Social Achievements

• Provided personalized training to employees
• Promoted a diverse and inclusive workplace
• Offered opportunities for professional and personal development

Governance Achievements

• Implemented a new approval procedure and matrix for invoices and expense reimbursements
• Complied with Belgian Corporate Governance Code 2020
• Established a dealing code to prevent insider trading and market manipulation

Climate Goals & Targets

Environmental Challenges

• Supply chain disruptions due to longer delivery times
• Price-sensitive customers preferring cheaper models
• Technological evolution in the payment industry
• Loss-making subsidiary Keyware SARL in Luxembourg
• Loss-making subsidiary EasyOrder BV
• Limited sales in Keyware T&P GmbH (Germany)
• Dependence on Paynovate as a primary payment partner
• Dependence on a limited number of suppliers
• COVID-19 pandemic impact on sales and collections

Mitigation Strategies

• Expanded product range with NEWPOS models
• Increased investments in software development and go-to-market activities
• Developed alternative sourcing strategies
• Implemented cost-saving measures
• Developed a customer success management team for EasyOrder
• Increased investments in EasyOrder product development
• Liquidation of Keyware T&P GmbH in 2022
• Developed a new approval procedure and matrix for invoices and expense reimbursements
• Increased provisioning for credit losses

Supply Chain Management

Responsible Procurement

• Sourcing from established players like NEWPOS, Worldline, and Ingenico

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: Belgian Corporate Governance Code 2020

Certifications: PCI DSS, PA-DSS 3.2

Third-party Assurance: EY Bedrijfsrevisoren BV