SUSTAINABILITY AND INNOVATION TO IMPROVE THE FUTURE
Contents
We have moved past the effects of the pandemic and the worst impacts of the war in Ukraine on the energy sector. This is clearly reflected in our financial results for the year. We are experiencing a period of relative calm after the storm, though there are still some clouds on the horizon. Thanks to this improvement, consolidated profits have reached €75 million, 63% up on 2022. Key financial ratios have also improved, demonstrating the financial strength of the Group’s cooperatives.
This progress has allowed us to push forward with the development of the Fagor 2030 sustainability strategy, which was approved in 2021. We have also made substantial strides across various areas. I would like to highlight Fagor’s contributions to society. Throughout 2023, we allocated €2.6 million from our social fund to various social initiatives. In addition to financial support, we are dedicated to driving sustainability in our region. We do this by participating in various projects and fostering collaboration among multiple stakeholders to empower our communities.
As I wrap up, I firmly believe that all we have achieved, as outlined in this report, sets a promising course for the future. I also reaffirm our strong commitment to continue making progress.
Best regards,
Joxean Alustiza Usandizaga
Chairman of the Fagor Group
We are the
Fagor Group
FAGOR GROUP | SUSTAINABILITY REPORT 2023
We are the largest industrial cooperative group in the Basque Country
10.403
employees
69
plants
3
innovation centres
2,6 M€
in social commitment
Automotive
Components for household appliances
Machine tools
Equipment for hospitality and catering
Solar energy
Industrial property
FAGOR GROUP | SUSTAINABILITY REPORT 2023
We are present worldwide, with operations in
FAGOR GROUP | SUSTAINABILITY REPORT 2023
We have our own way of doing business
01 
02 
03 
04 
We are a competitive
and innovative group
Our
commitment
We continue to work on transforming our businesses to enhance our competitiveness and to continue generating employment within the context of a digital and circular economy.
FAGOR GROUP | SUSTAINABILITY REPORT 2023
We have achieved good results
|
2021 |
2022 |
2023 |
|
| Revenue | 1.482 M€ | 1.819 M€ | 1.756 M€ |
| Consolidated profits | 57,97 M€ | 46,19 M€ | 75,36 M€ |
| Profits in the Basque Country | 41,01 M€ | 39,93 M€ | 54,80 M€ |
| % of profits in the Basque Country | % 71 | % 86 | % 73 |
| Net financial debt/EBITDA ratio | 1,70 | 1,88 | 1,26 |
| Independence ratio | 0,68 | 0,67 | 0,74 |
Comparison for the year 2022:
Sales
% 3
Consolidated profits
% 63
Independence ratio
Financial debt
Comparison for the year 2022:
Sales
%3
Consolidated profits
%63
Independence ratio
Financial debt
FAGOR GROUP | SUSTAINABILITY REPORT 2023
Most of our profits have been distributed in the Basque Country
1.756 M€
Revenue billed globally among the Fagor Group cooperatives
75,4 M€
Profits globally among the Fagor Group cooperatives
20,6 M€
What remains in the subsidiaries
54,8 M€
Distributed in the Basque Country
FAGOR GROUP | SUSTAINABILITY REPORT 2023
The distribution of our profits is guided by solidarity:
54,8 M€ distributed in the Basque Country
5,9 M€
MONDRAGON
solidarity initiatives
1,5 M€
Fagor Group
Solidarity Remuneration Fund
47,4 M€
For distribution
Redistribution of €3.8 million in results from the Fagor Group
FAGOR GROUP | SUSTAINABILITY REPORT 2023
We ensure a balanced distribution of results
47,4 M€
For
distribution
FAGOR GROUP | SUSTAINABILITY REPORT 2023
We foster innovation
Hirekin:
innovation and
entrepreneurship centre
250.000 €
in 2023
Fagor Group Promotion Fund to promote new activities
1,8 M€
in 2023
Hirekin:
innovation and entrepreneurship centre
250.000 €
in 2023
Fagor Group Promotion Fund to promote new activities
1,8 M€
in 2023
FAGOR GROUP | SUSTAINABILITY REPORT 2023
We generate cooperative employment in the Basque Country
Permanent
member-workers
Fixed-term
member-workers
Reassigned
members
Employees on
payroll
Women
Men
We are a democratic
group deeply rooted in
our community
Our
commitment
We continue to develop our democratic governance model
FAGOR GROUP | SUSTAINABILITY REPORT 2023
The present and future of Fagor lie in the hands of its member-workers
4.569
member-workers
550
new member-workers in 2023
Women
Men
212
Participants in social and governing councils
FAGOR GROUP | SUSTAINABILITY REPORT 2023
We adapt our regulatory framework to meet current needs
We have revised and updated regulations regarding fixed-term membership in response to the new labour reform.
FAGOR GROUP | SUSTAINABILITY REPORT 2023
We promote cooperative education
Objectives
- Strengthening cooperative identity.
- Understanding cooperative operations.
- Understanding cooperative governance.
- Understanding the functions, duties and responsibilities of governing bodies.
- Familiarising with basic concepts in the economic-financial domain.
In collaboration with Lanki, we have developed an online training module.
10 individuals from 7 cooperatives within the Fagor Group completed the Cooperative Expert qualification during the 2022-2023 academic year.
We are a group that
places people at the centre
of everything we do
Our
commitment
We foster an advanced corporate culture to empower our staff to excel.
FAGOR GROUP | SUSTAINABILITY REPORT 2023
We create employment opportunities
10.403
Employees worldwide
5.124
based in the Basque Country
Women
% 25
1.521
Men
% 75
4.573
Under 30 years old
31-50 years old
Over 51 years old
FAGOR GROUP | SUSTAINABILITY REPORT 2023
Our remuneration policy is built on solidarity
How much do top management earn compared to the average salary of the workforce?
At Fagor,
the top 9% earners
receive 15% of the wealth
generated by the
cooperative.
Globally, the
wealthiest 1% account for
63% of the wealth.
FAGOR GROUP | SUSTAINABILITY REPORT 2023
We ensure employability
Internal promotion
224
through competitive exams
114
employees who have changed positions
Use/situation of the job pool
1.486
registered in the job pool
761
employed
Labour integration
Women
Men
FAGOR GROUP | SUSTAINABILITY REPORT 2023
We promote a work-life balance
Maternity/paternity leave
Career breaks
Reductions
Women
Men
FAGOR GROUP | SUSTAINABILITY REPORT 2023
We promote gender equality
We have conducted training sessions for members of the Group’s decision-making bodies, technical secretariat and the Gender Equality Commission.
We have continued to enhance the tool for recording wage data across cooperatives.
Mission of the Gender Equality Commission
To spearhead and advance gender equality transformation initiatives, fostering collaboration, sharing knowledge and training a network of individuals to influence the broader community.
FAGOR GROUP | SUSTAINABILITY REPORT 2023
We are working to make Basque language a normal part of our workplace
8 out of 10 Fagor employees can hold a conversation in Basque.
Half of our teams understand Basque.
About 50% of our conversations are in Basque.
FAGOR GROUP | SUSTAINABILITY REPORT 2023
We are helping promote STEM careers
Mondragon ZTIM HUB
We team up with schools, businesses, communities and local governments to raise awareness of STEM professions, promote gender-neutral career guidance and influence educational projects in schools.
Mondragon TFG-TFM awards
We sponsor the Mondragon TFG-TFM awards.
FAGOR GROUP | SUSTAINABILITY REPORT 2023
We take care of people’s health and safety
We are working on implementing a unified medical assistance service for the entire Fagor Group.
General
absenteeism rate:
7,27
Absenteeism
due to accidents/work-related
illness: 0,46
We are a group
committed to
protecting the planet
Our
commitment
We are working to reduce the environmental impact of our products and production processes to keep industrial activity within the planet’s biophysical limits.
FAGOR GROUP | SUSTAINABILITY REPORT 2023
We are taking steps to reduce our carbon footprint
Our cooperatives have begun to define objectives and roadmaps to reduce carbon footprint.
Fagor Ederlan
has been awarded the
SBT (Science Based Targets)
certification/em>
FAGOR GROUP | SUSTAINABILITY REPORT 2023
Energy consumption in Basque Country plants (MWh)
74% of energy
consumption is
electricity
97% of electricity
consumption is from
renewable sources
72% of energy consumption is from
renewable sources
FAGOR GROUP | SUSTAINABILITY REPORT 2023
Global energy consumption (MWh)
73% of energy
consumption is
electricity
87% of electricity
consumption is from
renewable sources
63% of energy consumption is from
renewable sources
FAGOR GROUP | SUSTAINABILITY REPORT 2023
We participate in energy generation projects
Our cooperatives have acquired 41% ownership of a photovoltaic plant to be built in Guadalajara, Spain, driven by Mondragon. It will serve as a pilot experience from which to learn and promote larger-scale projects.
The Guadalajara plant
will have a capacity of
7.86 MWand is expected to produce
izango du eta urtean
14,879 MWh annually.
FAGOR GROUP | SUSTAINABILITY REPORT 2023
We are working on projects to boost the use of recycled materials
Recycled origin (tonnes)
Total raw materials (tonnes)
Percentage of raw materials from recycled sources over total
FAGOR GROUP | SUSTAINABILITY REPORT 2023
We are dedicated to cutting down on water consumption
Water consumption (m3)
Water consumption per m3/revenue (€100m)
Water consumption per employee (m3)
We are a group
that fosters
community development
Our
commitment
We advocate for self-organisation within communities and we encourage collaboration among diverse stakeholders to foster sustainable cities and communities.
FAGOR GROUP | SUSTAINABILITY REPORT 2023
We support social initiatives
FAGOR GROUP | SUSTAINABILITY REPORT 2023
We encourage Fagor employees to engage with the Sustainable Development Goals
We are actively advancing Basque language plans within our cooperatives.
563.504 €
Through this platform, we have initiated 27 efforts (volunteering, donations…).
45.000 €
In 2023, Fagor employees collectively travelled 352,898 km using sustainable modes of transportation.
28.295 €
FAGOR GROUP | SUSTAINABILITY REPORT 2023
We drive sustainable development in Debagoiena
We are the leading force behind the network aiming to promote sustainable development in Debagoiena.
786.983 €
We promote cooperative education in Debagoiena.
586.983 €
We continue to subsidise the activities of associations in the villages where the Group’s cooperatives are located.
187.835 €
FAGOR GROUP | SUSTAINABILITY REPORT 2023
We support social agents in the Basque Country
In 2023, we supported Biolur, the Guipuzcoa Federation of Adapted Sports and Iñurri.
120.000 €
We also backed other projects in the Basque Country.
23.746 €
FAGOR GROUP | SUSTAINABILITY REPORT 2023
We collaborate with countries in the Global South
We are part of the board and actively engage in the challenges of the Foundation.
224.793 €
We have an ongoing collaboration with Garabide.
10.000 €