New Dufry as common starting point

In 2016, we operated for the first time as the “New Dufry”,- following the transformational acquisitions of Nuance and World Duty Free. While the integration of Nuance was completed in 2015, in the year under review we focused on the integration of World Duty Free and the definition of the new Business Operating Model, which saw the adaptation of our processes and procedures to the new geographical footprint and the organi-zational structure. As a key element of the integration process and in order to provide all employees of the former companies with a common starting point, Dufry had also introduced a new corporate identity and defined new common values in late 2015.

Dufry companies operate in all countries according to local legislation and regulations. We have incorporated across the Group an “Integrity in Business Transaction Policy” that sets guidelines in the fair dealings with business partners and particularly prohibits any kind of passive or active bribery or corruption. The policy is applicable to all employees, including the Group -Executive Committee and the Board of Directors. In case of any question regarding the Policy or suspicion of a violation of the Policy, Dufry employees can connect with a centralized contact point through a dedicated Dufry email address or follow the hierarchical reporting line. Any wrongdoing concerns can also be reported directly to the CEO. The identity of an employee reporting such concerns or possible violations against the Policy will be kept confidential, unless the disclosure of the identity is required by law. Moreover, we also have an “Insider information and security trading policy” and the “Public Disclosure and Communication Policy” in place and signed by all employees concerned.

In line with our commitment to sustainability, we are now seizing the opportunity to leverage on the common starting point, to revise our CSR reporting in order to better assess the impact our company has on our employees, the society and the environment, with the ultimate intention to further develop our reporting step-by-step over the next few years.

Materiality Assessment performed in 2016

As a first step, in 2016 we performed a materiality assessment with the support of Ernst & Young to gain a detailed view on which sustainability topics are material to our business from both a company and a stakeholder perspective. This carefully planned and executed process allows us to align the internal and external perspectives, to identify areas of potential optimization and to further develop the sustainability related management approach and reporting.

In order to optimally link the company strategy and the whole company universe with the expectations of our stakeholders we have chosen to follow a company specific approach rather than a pure sustainability view, when defining the list of topics which we consider relevant for us and which we want to work with going forward. To compile the list of potential topics we included internal and external sources such as our existing policies and regulations; publicly available materiality assessments of peers; the SASB requirements (Sustainability Accounting Standard Board) as well as the report of the Governance & Accountability Institute.

The main stakeholder groups included in our materiality assessment and the subsequent definition of the topics are: employees, customers, investors (incl. shareholders, bondholders and financing banks), society and public authorities. The topics identified will be mapped according to the GRI guidelines (Global Reporting Initiative). Moreover, in the future, we might also consider reporting on additional material topics for Dufry, which are not covered by GRI.

Identifying Key Performance Indicators (KPIs)

As a second step, we have assessed and identified KPIs for tracking performance on material non-financial topics. The topics are further classified into the three dimensions of economic, social and environment. Currently, we are assessing the respective data availability to be able to report on the identified KPIs going forward.

For the 2016 reporting, we have further evolved the methodology used so far and provided if possible a higher level of detail for the topics covered (see pages 74 to 85.)

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