Our employees earn our highest appreciation and the return on our investment.

We expect top performance from all of our employees. To make this possible, we encourage our employees to be willing to perform, to actively and constructively contribute ideas, and to take pleasure in making decisions. What counts for us are the better arguments, not a person’s position in the hierarchy.

People in our company work and mix with each other openly, directly and informally. We make great efforts to be honest and truthful with one another, face to face. Good cooperation, personal contacts and team spirit are important so that we can all fulfil our duties.

We support the creation of teams, because company processes are complex. However, we want our employees to understand how things are connected, and be able to influence them in terms of the company objectives. That works best as a team.

Management subscribes to the premise that the value of the group is enhanced if the capital invested in its operations yields a cash return that is greater than that expected by the providers of capital. Conventional financial statements and measurements, such as earings per share and return on shareholders' investment, are of less interest to the providers of capital then indicators of cash flow generation and effective capital management. Consequently, we adhere to a measurement of performance that guides operational and corporate management in evaluating current decisions and long-term planning strategies toward the goal of maximizing cash operating returns in excess of the cost of capital.