the future is now. · converting plant sofidel sweden 25. kisa se integrated plant sofidel poland...

UMMARY2018 Integrated Report

Growth through innovationMore competitive, connected and sustainable.

Focus onWorldwide investment Technology and sustainability Performance and natural capital Next generation products

The future is now.

04 Sofidel. Year 2018. A snapshot

06 Message from the CEO

08 Innovation is technology combined with sustainability

10 Our production capacity is growing in the USA and in Europe

12 Sustainability adds value

14 Global Compact and the supply chain

15 Responsible procurement of raw materials

16 WWF climate savers targets for 2020

17 Partnerships for sustainability

18 People first

20 Innovation has always been part of our product DNA

24 Together we win

26 2018 key points. Main events of the year

Cover image: For Sofidel's "NextGen" project, Francesco, son of a Group employee, and Roselena Ramistella, a young and brilliant artist and photographer, interpreted UN Goal 13, which promotes actions to combat climate change.

Summary

The future is now. That is why Sofidel

has made "Less is more" its guiding

principle. "Less is more" means finding

innovative solutions to give "more"

value, product and service with "less"

consumption and waste.

4 54 2018 Integrated Report Summary

The Sofidel Group, founded in 1966 with Italian capital, is one of the world leaders in the production of tissue paper for hygiene and domestic use: toilet paper, kitchen towel, paper handkerchiefs and facial tissues.

Sofidel. Year 2018. A snapshot

Sofidel in figures52Years in business

13Countries (EU/US)

17Companies

5

4

32

1

23

9

121011

18 19 2120161513

14

12

26

25

24

28

2729

22

7

6

8

INVESTMENTS EMPLOYEES

1,308,000 Tons

6,327

SUSTAINABILITY CO2 emissions(kgCO2/t paper)

2009 2018

-18.3%

l/kg of paper produced

€ 1,706 millionGroup's Net Sales

Sofidel 7.1 l/kg

Sector benchmark: 15/25 l/kg

Sofidel Benelux18. Duffel BE | Integrated plant

Sofidel Germany19. Köln DE | Trading

20. Arneburg DE | Integrated plant

Werra Holding21. Wernshausen DE

Werra Papier21. Wernshausen DE

Werra Papier | Integrated plant

Werra Papier (ex-Omega) | Integrated plant

Werra Papier (ex THP) | Integrated plant

Soffass22. Lucca-Porcari IT |

Paper mill / Converting plant

Lucca-Porcari IT | Paper mill / Converting plant

Lucca-Borgo a Mozzano IT | Paper mill

Lucca-Bagni di Lucca IT | Paper mill

Lucca-Capannori IT | Converting plant

23. Gorizia-Monfalcone IT | Integrated plant

Sofidel Hungary24. Lábatlan H |

Converting plant

Sofidel Sweden25. Kisa SE |

Integrated plant

Sofidel Poland26. Ciechanów PL |

Integrated plant

Sofidel Greece27. Katerini EL |

Integrated plant

Sofidel Romania28. Calarasi RO |

Integrated plant

Sofidel Turkey29. Honaz Denizli TR |

Converting plant

Sofidel Italia1. Lucca - Porcari IT | Services

Sofidel America 2. Henderson NV |

Converting plant

3. Tulsa OK | Converting plant

4. Hattiesburg MS | Converting plant

5. Haines City FL | Integrated plant

6. Green Bay WI | Converting plant

7. Circleville OH | Integrated plant

8. Filadelfia PA | Services

Sofidel Spain9. Buñuel ES | Integrated plant

Sofidel France10. Ingrandes FR |

Converting plant

11. Nancy-Pompey FR | Integrated plant

12. Roanne FR | Integrated plant

Intertissue13. Swansea UK |

Integrated plant

14. Horwich UK | Converting plant

Sofidel UK15. Lancaster UK | Paper mill

16. Leicester-Hamilton UK | Integrated plant

17. Leicester-Rothley Lodge UK | Converting plant

More than €10 million in investments to reduce the impact on water resources.(2008-2018)

10 m €More than €100 million in investments to optimize the management of energy resources. (2008-2018)

100 m €

Production capacity

76 2018 Integrated Report Summary

Mr Lazzareschi, what is your assess-ment of the last financial year? 2018 was a very challenging year for the tissue industry. We had to cope with a sharp rise in the cost of cellulose as well as ener-gy. Both factors had an impact on margins in the sector.

A negative economic situation that could have justified diluting or even cutting spending programmes? Sofidel chose the opposite path. We focused on investment in both the USA and Europe, with the aim of en-suring greater product and service efficiency. But the company also took measures to mitigate the negative impacts faced by our markets in 2018.

Let's start with investment. How far have you got with the US market de-velopment program? Production has begun in Circleville, Ohio. It is a greenfield investment in a new integrated plant, designed to significantly support our growth in

Electric80's automated LGV Elephant system for transporting parent reels.

the American market. It is the larg-est and most advanced plant in the group, a kind of benchmark in terms of technological innovation for the entire sector. Also in the USA, in Ino-la, Oklahoma, construction work has started on another large, integrated greenfield plant, with the aim of serving the central-southern area by mid-2020.

And in Europe? In the latter half of 2018, investments in new production capacity were fully implemented at the Ciechanów plant in Poland and the Buñuel plant in Spain. In these cases, too, we focused on advanced technology for both the paper mill and the converting plant.

What benefits do you expect from these new investments? The advantages are numerous. The availability of new production capac-ity will make it possible to optimize customer supply, raise the quality standard of products and reduce logistics costs. It will also allow us to offer a range of new, higher-perfor-mance and sustainable products.

And how did you react to the sharp rise in the cost of cellulose, your raw material? The company has taken action to in-crease sales prices for its customers, also by filtering out orders with insuf-

Interview with the CEO of Sofidel, Luigi Lazzareschi, on developments in 2018 and the future strategies of the company.

ficient or even negative margins. It wasn't easy, but it was necessary.

How do you plan to support the price increase policy? By implementing an overall strategy of product innovation and differenti-ation - also supported by new paper mill and converting plant technology - which aims to create added value for customers and consumers as well. Tissue paper is not a mere com-modity or undifferentiated good. We need to work on increasing its perceived value.

What was the market reaction? By the fourth quarter of 2018, some customers who had postponed or not fully agreed to the request for increase had already signed new agreements, and a progressive re-covery of volumes and margins is underway.

"In a complex phase, we are investing in technology, with an emphasis

on product innovation"

"We've focused on investment on investment both in the USA and in Europe, with the aim of guaranteeing greater efficiency in terms of both process and product/service".

Scenario Interview with the CEO

8

To achieve this objective, Sofidel has pursued a com-prehensive renewal of its technological base in recent years, for both the paper mill and converting plant pro-duction stages. The paper mills have been equipped with new Valmet NTT 200 machines (Advantage New Tissue Technology), technology that allows the production of both conventional tissue paper and textured paper, making it possible to achieve higher levels of efficiency in terms of energy and raw material.

Four units are currently in operation: two in the Circleville plant (Ohio, USA) and the others in Ciechanów (Poland) and Buñuel (Spain).

For the production phase that leads to the finished product, converting, new Constellation Perini converting lines have been activated. This is a technology that offers higher quality winding, better preserving the softness of the product. Our commitment to innovation also includes logistics. A new system for the automatic transfer of reels from paper mill to converting plant has recently been de-veloped, based on laser vehicle technology, and manage-ment of the finished product has been automated with the Smart Store warehouse. This solution was first tested and applied at the Swedish plant in Kisa and then imple-mented at the American plant in Circleville, Ohio.

Innovation has also been applied to achieve responsible use of water, a key resource for the paper industry. The paper production process requires large quantities of this resource, most of which is returned to the environment. One of the most significant investments of this type is the Waste Water Reuse plant, designed to recycle wastewa-ter for production purposes, active in Italy at the Soffass Paper Mill in via Giuseppe Lazzareschi in Porcari (Lucca). Cutting-edge technology that reduces water consumption by more than 230,000 m3 each year through three differ-ent purification phases. Today, water use in the plant has fallen to levels of absolute excellence for the sector at 3.9 l/kg of paper produced.

In the United Kingdom, at the Intertissue plant in Baglan, a rainwater recovery system has been set up on an area of 82,000 m2 which has enabled water consumption to be reduced by more than 47,000 m3 per year.

Awareness of water resources has led Sofidel to achieve levels of water use well below the values expected by good industry practices, with average use of water per kilogram of paper produced equal to 7.1 l/kg compared to 15-25 l/kg.

Innovation and investment

Innovation is technology combined with sustainability

Innovation plays a central role within the Sofidel Group's sustainable growth vision, which is pursued through the "Less is more" strategy. The aim is to develop increasingly high performance processes and products with less environmental impact based on our specialist skills, a combination of the most modern technologies and a focus on quality. An approach that offers advantages to customers and consumers and delivers benefits to the environment.

water consumption / year-47,000 m3

Waste Water Reuse

Rainwater recovery

Soffass Paper Mill Lucca

Plant for water reuse in production (saves approx. 250,000 m3 of water/year).

Intertissue Baglan

water consumption / year-230,000 m3

92018 Integrated Report Summary


Our production capacity is growing in the USA and in Europe

Poland and Spain: growth in Europe along internal lines

Sofidel has not stopped looking to the future in Europe either: the renewal and enhancement of production as-sets has continued with the strengthening of production capacity at some plants. The two projects to triple the production capacity of Sofidel Poland, in Ciechanów, and Sofidel Spain, in Buñuel, have thus been completed. This is the type of organic growth that will characterize much of Sofidel's development in Europe, as planned from the design phase of all the new plants built over the years. In both cases, as in Circleville, the new Advantage NTT 200 technology produced by Valmet was used.

Building the future, as always. Even in a difficult situa-tion, with rising cellulose and energy costs, Sofidel continued its policy of investing in new production ca-pacity in the United States and Europe.

In the United States, production has begun at the integrated plant in Circleville, Ohio, the result of the first greenfield investment in America, which is the Group's largest, most modern and most sustainable plant to date.

Intended to significantly support growth in the US mar-

ket in a highly populated area, the production plant is also a benchmark for technological innovation in the sector.

Also in the USA, in Inola, Oklahoma, the construction of another large integrated plant has started, the result of a major new greenfield investment. Due to be in oper-ation by mid-2020, it will allow proper coverage of the central and southern part of the country. The two plants will make it possible to simplify the logistics chain and of-fer higher quality standards with better performing and more sustainable processes and products.

Ribbon cutting ceremony at the opening of the Circleville plant.

Ciechanów (Poland)

Buñuel (Spain)

Our investment in Circleville, OH

Land: 280 acres Jobs (at full capacity: if, as space allows, current production capacity were to double): 700 Converting Plants: 10 lines installed

Totalinvestment

State

Ohio

Total production capacity

140,000 t/y

400 $ million

Our investment in Inola, OK

Land: 240 acres Jobs (at full capacity: if, as space allows, current production capacity were to double): 600

Totalinvestment

State

360 $ million

Oklahoma

Total production capacity

120,000 t/y

Innovation and investment


Sustainability approach

Sofidel’s goal is to incorporate sustainabili-ty into every aspect of its business, in order to continually find new solutions to reduce its environmental impact, satisfy customer and consumer needs and improve rela-tions with employees and suppliers, put-ting people’s safety and well-being first.

Through listening, the active involvement of all stake-holders and the rational use of resources, synergy be-tween social and economic progress is promoted, in an approach based on shared value.

Sofidel’s sustainable growth strategy is fully in tune with the aim of “building an inclusive, sustainable and resil-ient future” for the planet and its population, pursued by the UN through the 17 Sustainable Development Goals included in its 2030 Agenda.

The Sofidel formula is more performance, less natural capital. Sofidel makes sustaina-bility a strategic lever for development and growth. The aim is to minimize the environ-mental impact of its activities, maximizing the economic and social benefits. The founding principle is "Less is more", the approach that characterizes the work of the

Group. We follow four fundamental precepts: maximizing functional performance, reducing our ecological footprint at every level of the business, from procurement to pro-duction, from logistics to offices, reducing waste and pro-moting responsible consumption.

The final objective is to create better performing prod-ucts, capable of making people's lives simpler and con-suming lower shares of natural capital in line with the principles of the circular economy.

Sustainability adds value

Sofidel

People • Management of human capital• Human rights• Health & safety• Organization• Pay and incentives• Training

Market &Corporate Brand • Corporate strategy Brands• Markets and customers• Community

Product • Production process• Research and development• Product quality and safety

Operations • Governance• Environment• Supply chain

com

mun

icat

ion com

munication

Our partners In pursuing its sustainability objectives, Sofidel works to create partnerships and alliances between businesses, governments, institutions, local communities and NGOs. Our main partnerships - also through our own brands - are with WWF, WaterAid, Sodalitas Foundation, EU-OSHA (European Agency for Safety and Health at Work), Tele-thon Foundation, the Woodland Trust and the Giuseppe Lazzareschi Foundation.

Sofidel is committed to contrib-uting to the achievement of 7 Key Sustainable Development Goals.

Circular Economy

Raw Material

Design

Production & manufacturing

Distribution

Usage, reuse, repairCollection

Recycling

Residual waste

The 5 cardinal points of responsible development for Sofidel

1. Innovation oriented towards economic, social and environmental sustainability

2. Involvement and transparency in relations with corporate stakeholders (managers, workers, consum-ers and associations)

3. Respecting and valuing people within and outside the company

4. Consumer protection5. Attention to local communities


The United Nations Global Compact is one of the most important initiatives in the world in terms of sustain-ability. Membership means that companies embrace a set of core values identified by the "Ten Principles" concerning human rights, labour standards, the envi-ronment and the war against corruption.

Sofidel is a "founding and promoting" member of the GCNI Foundation and since 2015 has consolidated its ethical control over its supply chain by joining the TenP Project, a Sustainable Supply Chain Self-Assessment Platform designed to assess and improve the sustaina-bility performance of companies in the supply chain in order to reduce the risks associated with it.

Global Compact and the supply chain

Sofidel has signed up to the Vancouver Declaration promoted by the Forest Stewardship Council® (FSC), a public promise by which companies around the world commit to a more sustainable supply chain for forest products.

100% of the Sofidel Group's consumer tissue products in Italy, Great Britain, Spain, France and the Benelux countries are FSC® branded.

Sofidel also uses exclusively (100%) cellulose certified by independent third parties with forest certification schemes (FSC, FSC Controlled Wood, SFI, PEF).

Once again, for the third consecutive year, Sofidel has offered a prize for suppliers, the Sofidel Suppliers Sustainability Award, to encourage, disseminate and make the most of the best practices and improvement actions undertaken by its suppliers in the field of social and environmental sustainability.

Responsible procurement of raw materials

3SAward - Award for the most sustainable Sofidel suppliers.



The three-year partnership with Wa-terAid, a non-governmental associa-tion based on international coopera-tion founded in 1981 in the United Kingdom, which works to ensure access to drinking water and sanitation in some of the poorest countries in the world, continued in 2018.

In the last two years, with the support of Sofidel, an ambitious project has been launched in Mali to bring clean water, decent sanitation and good hy-giene quality to the Kati and Bla dis-trict. Between 2017 and 2018 Sofidel have ensured that 20,341 people in the two districts have access to drink-ing water, 38,588 people have access to decent sanitation and 44,637 peo-ple have a good level of support for their personal hygiene.

The partnership with WWF continues both in Italy and France to promote responsible forest management. The agreement provides for the intro-duction of the WWF logo on products bearing the Regina trademark and on Sopalin and Le Treflè, as a guarantee of FSC certification. In addition, the digital educational project “I care for you, everyone’s ges-ture for everybody’s planet”, realized by WWF Italy with the support of Sofi-del, has completed its fifth year. The project, which involved students aged between 8 and 12, aimed to raise awareness among children about the connections between everyday gestures and great global phenomena. Each class was allowed to take part in the final competition to win Regina prizes for the students and the school.

WWF climate savers targets for 2020

Partnerships for sustainability

By 2020 Sofidel has made a commitment to:

• reduce direct CO2 per tonne of paper produced by 23% compared to 2009; • limit indirect third party CO2 emissions in the value chain by 13% compared to 2010 per tonne of paper produced;

• achieve 8% of energy from renewable sources based on the volume of fuels consumed annually.

In 2018 Sofidel reduced direct CO2 emissions to the atmosphere by 18.3% with:

• energy efficiency investments; • use of cogeneration plants;

• use of renewable energies.

Sofidel's emissions reduction target equals 900,000 tons of CO2, which is equivalent to the emissions of a fleet of 10,000 trucks travelling 10,000 km per year over 10 years.

Water withdrawal of the Sofidel Group

Annual water withdrawal of Sofidel plants m3/t paper

2018 2017 2016

Annual water withdrawal of Sofidel plants Mm3

7.1m3/t paper

7.1m3/t paper

7.1Mm3 7.1Mm3 6.8Mm3

6.8m3/t paper



The centrality of the workforce within the company is a principle that Sofidel has been able to develop and pro-tect over the years, despite a significant increase in size: in just 18 years, the number of employees of Group com-panies has risen from just over a thousand to over 6,300.

internal communication flows, increasing dissemination and knowledge of company processes and procedures and, finally, optimizing human resource management.

The company's commitment to its workers does not end here. The Sofidel Group has also developed two projects aimed at improving the lives of older and newly hired employees. The first includes the initiatives launched as part of the "Lifelong Employability & Company Welfare" Laboratory promoted by the Sodalitas Foundation. The aim is to identify effective solutions for "lifelong em-ployability" and sustainable management of human re-sources. The second involves a training process at Group level to facilitate effective and harmonious induction into the company. Also in order to promote the internal development and professional growth of employees, in 2018 the Human Resources Department successfully launched the "Job In-ternal Recruitment" project, with the aim of offering pro-fessional development opportunities for all employees, both nationally and internationally.

The company has moreover maintained its commitment to the development of the concept of safety at work, which has always been one of Sofidel's priorities. Over the years, Sofidel has progressed from a focus on pro-tection to promoting the health and psycho-physical safety of employees and finally to the goal of caring for and promoting their well-being. In this regard, during the year Sofidel continued the “Workplace Health Promotion (WHP)” and “Welfare” projects.

The company's growth has, in addition, affected coun-tries that are very different from each other, both cultur-ally and in terms of language and schooling. In this con-text, the company has pursued an approach to human resource management based on a very clear rule: we aim to enhance the professional qualities of employ-ees and achieve their full integration into the organiza-tional culture that has developed over the course of our brief history.

Our business has always been based on a fundamental principle, or rather a corporate philosophy, a common root that now forms an integral part of our DNA, de-spite the increased complexity of the company: to build and grow together. The goal of continuing to guarantee "teamwork" in the future was also entrusted in 2018 to the "Sofidel People" project, the initiative that represents the logical development of the corporate climate survey organized in 2016. The aim is to improve people's level of satisfaction by taking action in three areas: improving

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People first

Human capital

The growth that the Sofidel Group has been able to achieve over the years

is also the result of the central role of people in company life

01 02 03 04 05 06 07 08 09 16 17 1810 11 13 14 1512


This is a time of great transforma-tion. New ways of producing and distributing goods. New methods of communicating and working. New habits and lifestyles. New social and environmental priorities.

Sofidel is working to respond to the new needs of customers and people, also by developing a new generation of higher performance and more sustainable products.

Following the repositioning of the Regina brand, which took place at European level in the previous year, the aim in 2018 was to strengthen our new "Paper for People" position-ing in all countries and to extend the new Wish product concept, designed to optimize paper segmentation and allow consumers to waste less pa-per, to other important brands such as Nalys and Sopalin.

Innovation has always been part of our product DNA

20

SUSTAINABLE PACKAGING

In working to improve the sustainability and environmental compatibility of its products - in line with UN Agenda 2030 Sustai-nable Development Goal 12 (Ensure sustainable consumption and production patterns) - Sofidel is also contributing to the fight against overuse of plastics.

In the coming months, packaging made of renewable materials (such as Kraft or plastics produced from raw materials of vegetable origin) will be gradually introduced to replace plastic materials derived from oil.

A new generation of products


Our products are just a click away Today, purchasing processes are more fluid and hybrid. We are more and more "connected" and we buy increas-ingly online as much as in traditional shops and super-markets. With technologies such as augmented reality and other continuously evolving software, smartphones have become our inseparable lifetime companions for information, communication and purchases.

Against this background, in 2018 Sofidel launched its own digital strategy to better address the inevitable multi-channel distribution. Sofidel is experimenting with a more direct relationship between consumer and prod-uct, with continuous and precise monitoring and analysis that allows daily evaluation of product performance, po-sitioning in terms of price compared to the competition and the effectiveness of advertising and promotional campaigns on customer sites.

After a long gestation process, this year the Experteasy project was also launched in Italy, in a joint venture with Sutter Industry and Cuki. Experteasy.it is a company ded-icated to online sales for the B2B sector with particular reference to the Horeca sector.

Finally, Sofidelshop is part of the digital and commu-nication strategy in Italy, but easily replicable in other countries. On the site you can find all the products in the Regina range, Milla products and a corner dedicated to Emulsio detergent products and Cuki aluminum contain-ers, part of a co-marketing operation.

A new generation of products

The strategy pursued by the Private Label (PL) business line is centered on 3 concepts:

• the development of “tailored” products; • the development of sustainable products (for example with no cardboard core, reduced size or less polyethylene packaging); • development of a stakeholder engagement initiative to open up to customers in a partnership relationship based on listening and sharing.

The strategy of the Away from Home (AFH) business line remains focused on added value sales, i.e. those product lines, under the Papernet brand, for which pa-per is a vehicle for offering the user solutions that lead, not so much to a reduction in product cost, but to reduced cost in use, which is what most interests large professional end customers.


The Giuseppe Lazzareschi Foundation Much desired by the Lazzareschi family, the Foundation was found-ed in 2003 in memory of Giuseppe Lazzareschi, founder, together with Emi Stefani, of Sofidel. The aim of the Foundation is to promote the cultural, social and entrepreneurial growth of the Lucca area and of the Tuscany region in general, where the Group was founded and developed. In recent years, the Foundation has organized exhibitions, events, confer-ences and other initiatives that have involved an increasingly wide public, building a fruitful and cooperative dialogue with numerous public and private entities in the area.

Since its inception, Sofidel has been particularly sensitive to local area needs, an important aspect of a healthy

relationship with stakeholders. Hence the attention to local communities and social causes promoted by employees.

The company assesses, on a case-by-case basis, which associations to support, both through sponsorship and the

free transfer of its areas for local activities.

Together we win

Community

Nicky with the Telethon Foundation in Italy Sofidel, through the Nicky brand, has been supporting the Telethon Foun-dation project since 2012 to promote state of the art scientific research into rare genetic pathologies in Italy. Nicky supports Telethon by pro-moting its projects on all its product packages through a dedicated box, through communication on social channels and through the telethon that takes place in December on RAI networks.

Nicky with the Woodland Trust in Great Britain Sofidel, thanks to its partnership with the Woodland Trust, an organization for the conservation of woodland heritage in the United Kingdom, guarantees the planting of at least 20,000 native trees a year. The Unit-ed Kingdom is one of areas of Europe with the smallest wooded area: only 13% compared to an average of 44%.

Sofidel and the world of schools and universities For many years Sofidel has dedicated constant attention and commitment to the education and training of the new generations. Over the years, it has taken on a leading role in the life of many tech-nical high schools and the University of Pisa, translating its social role into a real educational responsibility. Sofidel is committed to supporting students, teachers, head teachers and rectors in the implementation of innovative, open, competence-driven training that represents a real devel-opment factor for the tissue industry and the nation.

Of particular importance is the scheme to alternate school and work experience and the offer of intern-ships to students in preparation for their degree thesis.

26 2726 2018 Integrated Report Summary

Constant and active participation in major events to promote sustainability and the circular economy, as well as investment in the USA and Europe, marked out Sofidel's activities in 2018.

• The most significant event was the official opening, on 3 October, of the Circleville plant in Ohio, which is Sofidel's largest, most modern and most sustainable plant to date. The ceremony, which was held in the reel warehouse of the plant, allowed the various sta-keholders (institutions, suppliers, customers and others active in the

area) to get to know each other better. • It was also an opportunity to bring the 3SAward to

the United States, the award that rewards supplier best practices, and thus present, as Sofidel's CEO emphasi-zed: "our ideas for sustainable development directly to U.S. suppliers because we consider it strategically important to develop fully collaborative relationships with them".

• A measure of the attention paid by the American au-thorities to the group's initiatives was Lazzareschi's participation, on June 11, at the Washington summit of Select USA Investment 2018, where he was invited as the only non-American speaker to a round table in the presence of the U.S. Secretary of Commerce Wil-bur Ross.

2018 key points.Main events of the year

2018 key points

Inauguration of theCircleville plant

First 3SAward in the United States

Participation in the Select USA Investment Summit 2018

Leading role in PaperWeek (Canada)

Main partner of WWF Italy for "Earth Hour"

"Natural capital. Lets give value to our riches"

Luigi Lazzareschi enters the Paper International Hall of Fame

Inauguration of the Circleville plant, Ohio, United States.

Presence at the most important conference tables in Europe, USA and Canada.

28

• Not just the USA. In 2018 Sofidel was the protagonist, both in Europe and overseas, of numerous sector ap-pointments (main speaker in Canada at PaperWeek, the annual conference on the paper and cellulose industry). Above all, action continued to support the "green" vo-cation of the group, a leader in initiatives to support sustainability, the concept of "natural capital" (on which we depend and without which we cannot live) and the spread of the circular economy.

• In particular, the company has been the main partner of WWF Italy for the "Earth Hour" initiative, promoted to attract attention to environmental issues. In his speech Luigi Lazzareschi stressed the full align-ment of the group's industrial policy with the goal of

"building an inclusive, sustainable and resilient future for the planet". • Sofidel also organized in Milan, again in collaboration

with WWF Italia and the Giangiacomo Feltrinelli Foundation, the debate "Natural capital: let's give value to our riches", with the participation, among others, of the scientific director of WWF Gianfranco Bologna and Ivan Faiella, senior economist of the Bank of Italy.

Sofidel has also promoted the publication of an e-book dedicated to "Natural capital, ecology, economics and policies for sustainable societies".

During 2018, Luigi Lazzareschi was invited to join the Paper International Hall of Fame, the world's Gotha of paper. He was recognized for his commitment to environmental development and the international growth of the group.


2018 key points

Natural capital at the Feltrinelli Foundation, Milan.

Design and implementation Cabiria BrandUniverse

Printed by Stamperia Artistica Nazionale S.p.A.

Translations Issel Nord S.r.l.

The future is now. The planet can no

longer wait. The human pressure exerted

on the Earth may have exceeded the

so-called "saturation threshold". We at Sofidel,

aware of these changes, are working

every day to help mitigate their effects.

— To consult the full version of the 2018 Integrated Report, please visit the dedicated section on our website: http://www.sofidel.com/en/sofidel-group— To learn more about sustainability in Sofidel, subscribe to the newsletter on our blog: http://www.sofidel.com/en/soft-and-green

Sofidel S.p.a. Via Giuseppe Lazzareschi 23 55016 Porcari (LU) t +39 0583.2681 www.sofidel.com

This document is the property of the Sofidel Group which reserves all rights over it. Reproduction, including partial reproduction, is not allowed without prior written authorization.

the future is now. · converting plant sofidel sweden 25. kisa se integrated plant sofidel poland...

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