Climate Change Data

Environmental Metrics

ESG Focus Areas

• Environmental
• Social
• Governance

Climate Goals & Targets

Supply Chain Management

Responsible Procurement

• Compliance with ethical and social responsibility principles
• Respect for human and labor rights

Climate-Related Risks & Opportunities

UN Sustainable Development Goals

• 1
• 2
• 3
• 4
• 5
• 6
• 7
• 8
• 9
• 10
• 11
• 12
• 13
• 14
• 15
• 16
• 17

The Group seeks to contribute to the achievement of the UN Sustainable Development Goals (SDGs), particularly those where the Group's contribution is most significant.

Environmental Metrics

ESG Focus Areas

• Not disclosed

Environmental Achievements

• Launched O-Next®, a seamless steel pipe with net zero scope 1 and 2 carbon emissions, made from recycled raw materials.

Social Achievements

• Implemented two temporary employment adjustment programmes at the Amurrio and Trápaga plants to align working hours with actual production load. Staff expenses fell by 20% due to reduced need for temporary staff and fewer night shift and weekend production bonuses.

Governance Achievements

• Completed two core objectives of the Strategic Plan: bringing together cold-drawing and steel manufacturing processes at the Amurrio Mill and selling inactive plants, reducing net financial debt.

Climate Goals & Targets

Environmental Challenges

• Slowdown in incoming orders and increased price pressure.
• Persistently high inventory levels among customers and distributors.
• Customer caution in the face of expectations of cost containment and lower borrowing costs.
• Uncertainty surrounding the impact of the US presidential election.
• Competitive pressure from Chinese producers experiencing weak domestic demand.
• Possible recession.

Mitigation Strategies

• Cost containment actions and reduction in the cost of energy and raw materials.
• Discounted debt buyback generating net financial income of EUR 66.5 million and reducing debt.
• Ongoing efforts to optimise working capital.
• Sale of the Pamplona Mill.

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Not disclosed

Climate-Related Risks & Opportunities

Physical Risks

• Not disclosed

Transition Risks

• Not disclosed

Opportunities

• Increased demand for O-Next® pipes due to decarbonisation processes.

Reporting Standards

Frameworks Used: Null

Certifications: Null

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

• Not disclosed

Not disclosed

Sustainable Products & Innovation

• O-Next® pipes

Awards & Recognition

• Not disclosed