Current ratings: BBB+ (Fitch) and A2 (Moody's). Credit rating target: Maintain stand-alone rating between "BBB+" and "A-" and "Baa1" and "A3" respectively.
4. Attractive shareholders returns
Consistent finance policy with strong commitment to regular dividend (current dividend yield of ~4% based on 2022 year-end closing share price) and dividend continuity as well as share buy-back (ongoing €3bn program until end- 2024).
5. Strong commitment to Sustainability with ambitious targets
Absolute reduction to 29m tonnes CO2e by 2030 (SBTi); Net Zero by 2050.
30% ESG targets integrated in short-term management remuneration.
Sustainable Investment
Environment: Clean operations for climate protection
Reduce emissions to <29m tonnes CO2e by 2030 (Science-based target initiatives). No offsetting included.
Net Zero GHG Emissions by 2050.
2030 targets: >30% share of sustainable fuels and 60% e-vehicles used in pick-ups and deliveries.
Issuance of sustainability-linked bond of €500m until 2033.
Social: Great company to work for all
Target 2023 of >80% Group-wide Employee Engagement approval rate in Employee Opinion Survey.
Increase share of women in middle and upper management to at least 30% by 2025.
Reduce Lost Time Injury Frequency Rate to <3.1 by 2025.
Governance: Highly trusted company
30% ESG-related targets in short-term remuneration for the Board of Management.
2023 target: 98% of share of valid compliance training certificates in middle and upper management and 690 (out of 900) points cyber security rating – equals top quartile in our reference group.
You can find the most recent remuneration report for Board of Management and Supervisory Board here.