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GRENDI LOGISTICA S.R.L.

Sustainability Report

2024

Prepared in accordance with the Voluntary Sustainability Reporting Standard for small and medium-sized undertakings (VSME), released by the European Commission on 30 July 2025.

Document Information

Entity Name
GRENDI LOGISTICA S.R.L.
Entity Identifier
59132655
Entity Identifier Scheme
https://www.dnb.co.uk/duns-number
Report currency
EUR
Report period
2024-01-01 – 2024-12-31
Decimal separator
. (FULL STOP)
Report generated
2025-12-04 09:08:05 +0000

All disclosures are related to the reporting period above unless specified otherwise.

Table of Contents

  1. [B01.000] - General information - Basis for Preparation
  2. [B01.100] - General information - List of subsidiaries
  3. [B01.200] - General information - List of sites
  4. [B02.000] - General information - Practices, policies and/or future initiatives for transitioning towards a more sustainable economy
  5. [B03.000] - Environment - Total Energy Consumption
  6. [B03.100] - Environment - Breakdown of energy consumption
  7. [B03.200] - Environment - Estimated Greenhouse Gas Emissions
  8. [B03.300] - Environment - Greenhouse Gas Emissions intensity
  9. [B04.000] - Environment - Pollution of air, water and soil: availability of public disclosure
  10. [B05.000] - Environment - Sites in biodiversity sensitive areas
  11. [B05.100] - Environment - Biodiversity - on Land-use
  12. [B06.000] - Environment - Water Withdrawal
  13. [B07.000] - Environment - Description of circular economy principles
  14. [B08.000] - Social - Workforce - General characteristics: type of contract
  15. [B08.100] - Social - Workforce - General characteristics: gender
  16. [B08.300] - Social - Workforce - General characteristics: turnover rate
  17. [B09.000] - Social - Workforce - Health and safety
  18. [B10.000] - Social - Workforce - Remuneration, collective bargaining and training
  19. [C01.000] - General information - Strategy: Business Model and Sustainability – Related Initiatives
  20. [C02.000] - General information - Description of practices, policies and/or future initiatives for transitioning towards a more sustainable economy
  21. [C03.000] - Environment - Greenhouse Gas Emissions Reduction Baseline and Target Year
  22. [C03.100] - Environment - Greenhouse Gas Emission Reduction Targets
  23. [C03.200] - Environment - Disclosure of list of main actions the entity seeks to achieve its targets
  24. [C03.300] - Environment - Transition plan for undertakings operating in high climate impact sectors
  25. [C05.000] - Social - Additional (general) workforce characteristics
  26. [C06.000] - Social - Additional own workforce information - Human rights policies and processes
  27. [C07.000] - Social - Severe negative human rights incidents
  28. [C08.100] - Governance - Exclusion from EU benchmarks
  29. [C09.000] - Governance - Gender diversity ratio in the governance body
  30. [D99.000] - Other and/or entity specific information

[B01.000] - General information - Basis for Preparation

Option B (Basic Module and Comprehensive Module)
Basis for preparation (Basic Module Only or Basic & Comprehensive Module)
Sustainability report prepared on a consolidated basis
Basis for reporting (consolidated or individual basis)
False
Report contains disclosures from the previous reporting period that remain unchanged
None
List of omitted disclosures deemed to be classified or sensitive information
private limited liability undertaking
Undertakings legal form
NACE M - 68.20 Rental and operating of own or leased real estate
NACE H - 52.25 Logistics service activities
NACE O - 82.10 Office administrative and support activities
NACE H - 50.20 Sea and coastal freight water transport
NACE H - 52.31 Intermediation service activities for freight transportation
NACE H - 52.24 Cargo handling
NACE O - 77.34 Rental and leasing of water transport equipment
NACE sector classification codes
120,223,905.00
Size of balance sheet (total assets)
118,307,787.00
Turnover
236.00
Number of employees
At the end of the reporting period
Employee counting methodology
Headcount
Type of number of employees
Italy
Country of primary operations and location of significant assets
M.A. GRENDI DAL 1828 S.P.A. SOCIETÀ BENEFIT:
- obtained on 25 Dec 2024 the scorecard Ecovadis with a rating of 70/100
- obtained on 16 Apr 2019 the ISO 14001:2015 certification issued by Bureau Veritas Italia S.p.A.
- obtained on 05 Feb 2018 the ISO 9001:2015 certification issued by Bureau Veritas Italia S.p.A.

GRENDI TRASPORTI MARITTIMI S.P.A.:
- obtained on 05 Feb 2018 the ISO 9001:2015 certification issued by Bureau Veritas Italia S.p.A.

Post 2024:

GRENDI HOLDING S.P.A. SOCIETÀ BENEFIT:
- obtained on 25 Oct 2025 B Corp certfication
Description of sustainability-related certification(s) or label(s) This disclosure should include, where relevant, the issuers of the certification or label, date and rating score

[B01.100] - General information - List of subsidiaries

Identifier of the subsidiary 2024-01-01 – 2024-12-31
Name of the subsidiary Registered address of the subsidiary
1 GRENDI LOGISTICA S.R.L. CAGLIARI (CA) LOCALITÀ PORTO CANALE SNC CAP 09123
2 GRENDI HOLDING S.P.A. SOCIETÀ BENEFIT CAGLIARI (CA) LOCALITÀ PORTO CANALE SNC CAP 09123
3 M.A. GRENDI DAL 1828 S.P.A. SOCIETÀ BENEFIT CAGLIARI (CA) LOCALITÀ PORTO CANALE // CAP 09100 STRADARIO 01540
4 GRENDI TRASPORTI MARITTIMI S.P.A. CAGLIARI (CA) LOCALITÀ PORTO CANALE . CAP 09123 STRADARIO 01540
5 MITO MEDITERRANEAN INTERMODAL TERMINAL OPERATOR A RESPONSABILITÀ LIMITATA CAGLIARI (CA) LOCALITÀ PORTO CANALE SNC CAP 09123
6 TASK S.R.L. CAGLIARI (CA) LOCALITÀ PORTO CANALE // CAP 09123
7 TEAM S.R.L. CAGLIARI (CA) LOCALITÀ PORTO CANALE S.N. CAP 09123
8 NAVCO S.R.L. VIA DI SOTTORIPA 1A/119 - 16124 - GENOVA (GE)

[B01.200] - General information - List of sites

Identifier of site 2024-01-01 – 2024-12-31
Address of site Postal code of site City of site Country of site GPS Location of site
Bologna Bentivoglio Area Produttiva Interporto 40010 Bentivoglio, BO Italy 44.63201728094567, 11.386884969474153
Cagliari Magazzino 1 LOCALITÀ PORTO CANALE 9100 Cagliari, CA Italy 39.21194049143395, 9.083097645736792
Cagliari Magazzino 2 LOCALITÀ PORTO CANALE 9100 Cagliari, CA Italy 39.2101335160463, 9.085720199386694
Cagliari Terminal GTM LOCALITÀ PORTO CANALE 9123 Cagliari, CA Italy 39.20978574513654, 9.077772878729942
Cagliari Terminal MITO LOCALITÀ PORTO CANALE SNC 9123 Cagliari, CA Italy 39.21388124167919, 9.072400141162984
Genova Bolzaneto Via degli Artigiani/58 16163 Bolzaneto, GE Italy 44.46971239368004, 8.895992586473005
Genova Sottoripa Via Sottoripa/1A 16124 Genova, GE Italy 44.41066638294521, 8.929188628036178
Marina di Carrara Terminal GTM Viale Giovanni da Verrazzano 54033 Marina di Carrara, MS Italy 44.03584355471278, 10.043970275302822
Milano Opera Via Lambro/42 20073 Opera, MI Italy 45.36971735994707, 9.200735391603537
Olbia Terminal GTM loc. porto Cocciani 7026 Olbia, OL Italy 40.92786987441193, 9.538676936067604

[B02.000] - General information - Practices, policies and/or future initiatives for transitioning towards a more sustainable economy

Climate change
Pollution
Water and marine resources
Biodiversity and ecosystems
Circular economy
Own workforce
Workers in the value chain
Affected communities
Consumers and end users
Business conduct
Sustainability issues addressed by practice, policy and/or future initiative
True
Practice, policy and/or future initiative is publicly available
True
Undertaking has set a target which is related to a policy

[B03.000] - Environment - Total Energy Consumption

241,382.91 MWh
Total energy consumption

[B03.100] - Environment - Breakdown of energy consumption

2024-01-01 – 2024-12-31
MWh
Total renewable and non-renewable energy Renewable energy Non-renewable energy
Energy consumption from electricity 3,155.27 1,869.90 1,285.36
Energy consumption from self-generated electricity 230.50 230.50 0.00
Energy consumption from fuels 237,997.14 0.00 237,997.14

[B03.200] - Environment - Estimated Greenhouse Gas Emissions

2024-01-01 – 2024-12-31
tCO2e
Currently stated
Gross Scope 1 greenhouse gas emissions 65,980.58
Gross location-based Scope 2 greenhouse gas emissions 773.42
Gross market-based Scope 2 greenhouse gas emissions 610.24
Total (gross) location-based Scope 1 and Scope 2 GHG emissions 66,754.00
Total (gross) market-based Scope 1 and Scope 2 GHG emissions 66,590.82
Gross Scope 3 greenhouse gas emissions 14,555.80
Total (gross) location-based GHG emissions 81,309.81
Total (gross) market-based GHG emissions 81,146.62

[B03.300] - Environment - Greenhouse Gas Emissions intensity

0.0006873 tCO2e per €
Total location-based Greenhouse Gas Emissions intensity Calculation: (Scope 1 + Scope 2 + Scope 3 GHG emissions location-based) / turnover
0.0006859 tCO2e per €
Total market-based Greenhouse Gas Emissions intensity Calculation: (Scope 1 + Scope 2 + Scope 3 GHG emissions market-based) / turnover

[B04.000] - Environment - Pollution of air, water and soil: availability of public disclosure

False
Publicly available disclosure

[B05.000] - Environment - Sites in biodiversity sensitive areas

Identifier of site 2024-01-01 – 2024-12-31
Area of site in biodiversity sensitive area Site located in a biodiversity sensitive area Site located near a biodiversity sensitive area
Cagliari Magazzino 1 51,989.65 False True
Cagliari Magazzino 2 51,138.65 False True
Cagliari Terminal GTM 90,300.00 False True
Cagliari Terminal MITO 143,153.00 False True

[B05.100] - Environment - Biodiversity - on Land-use

421,223.30
Total sealed area
2,512.00
Total nature oriented area on-site
0.00
Total nature oriented area off-site
423,723.30
Total use of land

[B06.000] - Environment - Water Withdrawal

20,543.88
Total amount of water withdrawn from all sites
18,912.88
Amount of water withdrawn at sites located in areas of high water-stress

[B07.000] - Environment - Description of circular economy principles

YES
Undertaking applies circular economy principles
Processes Description:

As a logistics and transport services provider, Grendi Group's application of circular economy principles focuses on its operational processes, waste management, and procurement decisions rather than product design or manufacturing. The Group implements these principles primarily by focusing on eliminating waste and pollution and circulating materials at their highest value through the following actions:

Waste Management: The Group actively manages its waste streams to promote recycling and reuse. In 2024, out of a total of 313.38 tonnes of waste generated, 171.93 tonnes (54.9%) were diverted to recycling or reuse channels. The Group notes that without an extraordinary disposal operation related to a bankrupt client, its total waste production would have decreased by 15% compared to 2023.

Operational Efficiency to Reduce Waste: Grendi utilizes an innovative handling system with "cassette" (translifters) to optimize the loading and unloading of ships. This process speeds up port operations, reducing the time ships need to be docked. This allows for lower navigation speeds to maintain service schedules, which leads to a reduction in fuel consumption and associated greenhouse gas emissions.

Sustainable Procurement and Asset Management:

The Group is renewing its fleet of handling equipment in its terminals and warehouses, replacing obsolete, more polluting vehicles with new-generation models that comply with Stage V emission standards. This renewal program has led to significant fuel savings of up to 22.27% for port tractors and 16.31% for Reach Stackers when comparing the newest models to the oldest ones.

Within its warehouses, the company is replacing equipment powered by lead-acid batteries with more efficient models using lithium batteries which have also a longer battery lifespan.

The Group is also implementing a green procurement policy for specific assets. For example, in 2024, it achieved its goal of ensuring 100% of its procured or rented photocopiers are labelled Class A or Energy Star.

Practices and Policies (2024):

Continued investment in the innovative cassette system, reaching 440 total units to optimize space utilization and operational efficiency.
Replacement of lead-acid battery forklifts with 26 new lithium-battery vehicles in the Cagliari warehouse (and 13 in Bologna), leveraging self-produced solar energy.
Replacement of floodlights on 5 lighthouse towers with LED technology in Cagliari terminals.
Separate waste collection in all offices and operational areas and, where possible, water dispensers with filtering systems connected to the mains water supply.

Future Initiatives:

Further investments are planned in cassettes in 2025. The Group aims for the formalization and APPROVAL by the Board of Directors of the group procedure for green procurement. Grendi will also share best practices with all employees to help reduce their environmental impact while working from home, including practical tips and a curated list of marketplaces offering sustainable products for home offices.

Please refer to section "[D99.000] - Other and/or entity specific information" for further details regarding the metric "B7 - Waste generated from 2024-01-01 to 2025-12-31"
Description of how circular economy principles are applied

[B08.000] - Social - Workforce - General characteristics: type of contract

160.00
Number of permanent contact employees
76.00
Number of temporary contract employees

[B08.100] - Social - Workforce - General characteristics: gender

202.00
Number of male employees
34.00
Number of female employees
0.00
Number of other gender employees
0.00
Number of non-reported gender employees

[B08.300] - Social - Workforce - General characteristics: turnover rate

10.86 %
Employee turnover rate Calculation: (number of employees who left during the reporting period / average number of employees during the reporting period) * 100

[B09.000] - Social - Workforce - Health and safety

8.00
Number of recordable work related accidents in the reporting period
3.90
Rate of recordable work related accidents in the reporting period Calculation: (number of recordable work-related accidents in the reporting year / total number of hours worked in a year by all employees) * 200000. The amount of 200000 hours represents the total annual working hours of 100 employees (40 hours per week for 50 weeks per year) and serves as the standard base for calculating the incidence rate over a year, applicable to undertakings with up to 250 employees
1.00
Number of fatalities as a result of work-related injuries and work-related ill health

[B10.000] - Social - Workforce - Remuneration, collective bargaining and training

YES
Employees receive pay equal or above minimum wage determined by national law or collective bargaining agreement
-26.75 %
Percentage gap in pay between female and male employees Calculation: ((average gross hourly pay level of male employees - average gross hourly pay level of female employees) / average gross hourly pay level of male employeees) * 100
100.00 %
Percentage of employees covered by collective bargaining agreements Calculation: (number of employees covered by collective bargaining agreements / total number of employees) * 100
9.62
Average number of annual training hours per male employee
17.56
Average number of annual training hours per female employee

[C01.000] - General information - Strategy: Business Model and Sustainability – Related Initiatives

The Grendi Group offers integrated transport solutions for both full loads and groupage, maintaining direct control over the main links of the logistics chain. The service portfolio is structured around four main groups:
Maritime Lines (Linee Marittime):


National Services: Regular daily services running to and from Sardinia for over 60 years. This includes five weekly departures from Marina di Carrara to Cagliari and three weekly departures to Olbia. These services primarily use RORO (Roll-On/Roll-Off) vessels.
International Services: New international routes operate towards North Africa (Algeria and Tunisia) with weekly departures from Cagliari.
Specialized Maritime Transport: This includes vessel taxi and maritime transport solutions dedicated to project cargo, general cargo, and special industrial pieces.
Container Handling/Feederage: The Group, is increasingly developing movement and feederage services for large shipping companies. This includes the specialized LORO2 solution, which combines the benefits of a LOLO (Lift-On/Lift-Off) container terminal with the flexibility of RORO services by using specialized cassettes to load containers onto RORO vessels, facilitating connections with ports in Tunisia and Algeria.
National Transport (Trasporti Nazionali):


Goods are collected in the Northern Italian branches and dispatched via direct daily links to distribution centers in Southern Italy and the islands. Transport modalities include maritime, road, and rail. Services include both full load and groupage options, designed to optimize time, cost, and sustainability.
Warehousing and Distribution (Magazzini e Distribuzione):


The Group operates an extensive and expanding network of warehouses and transit points, encompassing proprietary collection centers and logistics sites managed by local partners.
Services include storage, consolidation, and deconsolidation of volumes (e.g., in Sardinia).
Distribution targets various channels, including retail, large-scale organized distribution (GDO), and the industrial sector.
Container Terminals (Terminal Container):


Grendi operates a network of terminals under long-term concession, specifically combining RORO and LOLO methods.
Key terminal operations include the LOLO area in the Porto Canale of Cagliari and the RORO area of Cagliari, along with the home port terminal in Marina di Carrara and the terminal in Olbia. These solutions are designed to be versatile for the B2B market.
Description of significant groups of products and/or services offered
The Grendi Group primarily operates in the B2B (Business-to-Business) market.

Geographical Markets (Countries and Regions):

- Italy (Domestic):
The core business is traffic to and from Sardinia. The Group links its logistics centers in Northern Italy (such as Milan Opera, Bologna Interporto, Genoa Bolzaneto, and Marina di Carrara) with the main markets of Sardinia (Cagliari, Olbia, Sassari), and also serves Central and Southern Italy.

- International:
The Group operates services connecting Cagliari to North Africa, specifically to ports in Tunisia (e.g., Rades) and Algeria.

Sectoral Markets:

- Logistics & Transport:
Serving entire industrial and commercial sectors where logistical quality impacts competitiveness.
Industrial Sector: Providing integrated solutions, including specialized transport for industrial pieces. A specific niche is the Emilia ceramics district, for which Grendi offers a low environmental impact intermodal solution via rail from Marina di Carrara to Marzaglia (MO).

- Shipping Lines:
Providing transhipment traffic (transhipment) and feeder services through the MITO LOLO terminal to major international shipping lines.
Distribution Channels: Supporting the retail channel, large-scale organized distribution (GDO), and, as seen in 2024, the ecommerce sector during peak demand.
Description of significant market(s) the undertaking operates in e.g. B2B, wholesale, retail, countries
Key Suppliers:

- Transport/Traction Providers:
The Group relies on third-party traction partners (trazionisti), including owner-operators (padroncini) and other suppliers, for first/last-mile road transport and railway traction services. These relationships are managed through engagement initiatives like the biennial supplier questionnaire and the mandatory Supplier Code of Conduct and the Supply Chain Finance Platform which has enabled Grendi to implement a specific relationship mechanism with small road transport suppliers (autotrasporto) through the Dynamic Discounting platform, with over €5 million anticipated in 2024 to support small suppliers.

- Manpower/Labor:
The Group has internalised the workforce in its warehouses in Milan Opera and Bologna but continues to use cooperatives to supply staff at its other warehouse locations.
Logistics and site management partners: Local partners and correspondents manage logistics sites and transit centres.

- Financial Providers:
Lenders and banks are key stakeholders in the economic value distribution of the Group.

-Port Authorities:
for the 4 maritime terminal concessions Grendi directly and constantly deals with port authorities.

Key Customers:

- Large Shipping Lines:
Primary customers of the MITO terminal for transhipment traffic and international services, including major sector operators.

- Industrial Clients:
Clients utilizing intermodal solutions, recognized for an innovative integrated rail-road-sea transport operation.

- Major Distributors/Retailers:
Clients for whom Grendi manages distribution in the retail, GDO, and industrial channels.

- E-commerce Clients:
MA Grendi provided support to the e-commerce sector for peak volume handling in 2024 (e.g., during the Christmas period).

Distribution Channels:
The Group emphasizes control over the main links of the chain. Key channels include its integrated network of:

- Maritime Lines (using RORO vessels, including owned vessels like Grendi Futura).

- Maritime Terminals (Marina di Carrara, Cagliari RORO/LOLO, Olbia).

- Logistics Hubs in Italy (Opera Milan, Bentivoglio Bologna, Bolzaneto Genoa, Cagliari).

- Intermodal Transport utilizing road, sea, and rail links (e.g., the Marina di Carrara–Marzaglia connection).
Description of main business relationships (e.g. key suppliers, customers distribution channels) e.g. key suppliers, customers distribution channels and consumers
The Group's strategy is primarily guided by its status as a Società Benefit (SB) and its strategic plan, "Rotta 2028". The Group confirms that sustainability guides its strategic choices and requires the involvement of all corporate levels, along with significant resources dedicated to reporting, positive impact generation, and innovating processes/technologies to reduce negative externalities.

1. Governance, Commitment, and Alignment

The strategic commitment to sustainability is formalized through key governance and reporting initiatives:
Società Benefit (SB) Status: Grendi Holding Spa SB, the operating parent company, is legally committed to pursuing specific common benefit purposes alongside profit. This status provides a "mission lock," ensuring that all controlled companies adhere to environmental, economic, and social impact policies that are homogeneous and centrally coordinated.
B Corp Certification Pursuit: The Group is actively engaged in the process of B Corp Certification. This commitment involves systematically measuring and improving its impact.
Adoption of the "Rotta 2028" Agenda: This strategic compass guides the Group toward its 200th anniversary, promoting a long-term vision and renewing the commitment to build lasting value for all stakeholders (at the time of drafting this report it is possible to confirm that the B Corp Certification was achieved in 25/10/2025).
ESG Reporting Alignment (2025 Goal): Strategically, the Group aims to produce a first consolidated Sustainability Report by the end of 2025, using the VSME Standard (Voluntary Sustainability Reporting Standard for non-listed SMEs), based on consolidated 2024 data. Furthermore, this process is designed to integrate impact assessment (BIA score) with concepts such as double materiality, which consists of the analysis of impacts, risks and opportunities (IRO) linked to sustainability issues.
Management Accountability: A specific objective for 2026 is the development and formalization of the MBO (Management By Objectives) structure to incorporate ESG indicators into the variable remuneration plans for function managers.

2. Environmental Strategy

The core environmental strategy centers on decarbonization, intermodality, and energy efficiency to address the most significant impact challenge in the logistics sector: GHG emissions.
Commitment to reduce GHG emissions: The Group is dedicated to researching, adopting, and disseminating sustainable innovation models with the long-term goal of achieving zero carbon footprint of direct activities.
Intermodal Transport Enhancement (2024-2025): The strategy prioritizes the use of lower environmental impact transport modalities, such as rail and sea, over all-road solutions.
This is achieved by maintaining and increasing dedicated rail transport connections (e.g., from Marina di Carrara to Marzaglia, MO, serving the ceramics district).
A 2025 objective is to increase the volume of goods transported by train by 10%.
Maritime Efficiency: Strategic measures focus on maximizing the load factor and optimizing vessel speed to reduce consumption. In 2024, the Group reduced the number of ship voyages by 7% while increasing the linear meters transported by 1.7% and the average saturation coefficient by 9%.
The specialized LORO2 system (using cassettes) is strategically employed to limit port waiting times and allows for lower cruising speeds, thus decreasing fuel consumption and GHG emissions.
Green Fleet and Equipment Renewal: An investment cycle continues through 2025 to renew handling and internal warehouse fleets.
This includes purchasing new port tractors and Reach Stackers compliant with Stage V standards.
In warehouses (Cagliari, Bologna, Milan), the Group is strategically replacing lead-acid battery equipment with lithium battery technology to improve efficiency and better utilize self-produced solar energy.
Renewable Energy Sources: The strategy involves continuous investment in photovoltaic systems (a 150 KW increase was completed in Cagliari in 2024) and the purchase of Guarantees of Origin (GO) to cover electricity consumption from the grid. A 2025 target is to increase installed photovoltaic capacity by 10% and increase the percentage of MWh covered by GO by 10% to reduce absolute Scope 2 emissions.
Green Procurement: The strategy includes the 2025 goal of formalizing a Group procedure for green purchases.

3. Social Strategy

The people-focused strategy centers on cultural resilience, safety, and improving employee well-being in all locations.
Culture and Well-being: The Group is committed to investing in the happiness of its collaborators, favoring their professional growth and well-being through dedicated projects. This aligns with the strategic necessity for continuous and proactive listening to new needs.
The expenditure on welfare initiatives increased by 62% in 2024, raising the per-capita expense by 18%.
Workforce Internalization: A strategic initiative completed in late 2024 involved the internalization of cooperative personnel in the Milan and Bologna warehouses, increasing the number of permanent employees.
Safety Focus: In response to a tragic accident in early 2024, the strategy emphasizes safety. The internal appointment of a Safety Manager (RSPP) coordinates activities and aims to formalize safety procedures, addressing identified weaknesses.
Gender Parity Goal: A specific strategic objective for 2025 is the achievement of the UNI PDR 125 certification for Gender Parity for at least one operating company plus the Holding company.

4. Interdependence and Value Chain Strategy

The strategy emphasizes collaboration across the value chain to increase shared social and environmental value.
Supplier Engagement: A key element is the engagement of suppliers, managed through the Supplier Code of Conduct. The Group conducts biennial supplier questionnaire in 2024 and plans to implement in-depth engagement programs and workshops on ESG issues with suppliers in late 2025 and 2026.
Supply Chain Finance: The Group uses the Dynamic Discounting platform as a tool of financial interdependency to provide financial support to small road transport suppliers, with over €5 million anticipated to be advanced in 2024.
Community and Institutional Proactivity: The Group maintains a policy of being proactive with local and national institutions, competitors, suppliers, and customers, investing in projects and initiatives for the common interest of the communities where it operates. This includes maintaining an internal CSR Committee responsible for allocating funds to social projects.
The Grendi Group's commitment to sustainability, formalized by the Società Benefit status, acts as a structural rudder, consistently steering strategic investments—from digital systems to physical fleet renewal—toward goals of operational efficiency and measurable social and environmental improvement within the demanding logistics sector.
Description of key elements of strategy that relates to or affects sustainability issues

[C02.000] - General information - Description of practices, policies and/or future initiatives for transitioning towards a more sustainable economy

Climate Change

Practices and Policies (2024):
The Group implemented maritime transport optimization, increasing the ship fill coefficient (grown by 9% in 2024vs 2023) and maintaining lower sailing speeds where possible, due to minimized port layover times using the cassette/translifter system. A significant share of intermodal rail traffic was maintained to and from Marina di Carrara, removing the equivalent of 9,052 trucks from the road (approx. 44 million ton-km). The handling equipment fleet renewal program continued with the adoption of Stage V engines and low-consumption technologies like ESS (Energy Saving Solution), achieving fuel savings of up to 22.27% for port tractors. Self-produced renewable energy increased with the addition of 150 KW of power on the roof of the second Cagliari warehouse, bringing the total installed nominal power to 0.7 MW. The Group purchases electricity covered by renewable energy guarantees of origin (GOs) for all its owned facilities. Since was not possible to directly procure renewable-backed energy from the electricity supplier in the not-owned facilities, the Group has proactively purchased through specialized brokers 1,000 MWh of Guarantee of Origin (G.O.) certificates to partially offset electricity consumption at the MITO Terminal in Cagliari, which accounts for 69% of the Group's total electricity consumption.

Future Initiatives (Post-2024):
The Group plans to create a database and develop a calculation model for indirect carbon emissions Scope 3, Category 4 (upstream transport and distribution using third-party means), by the end of 2025. Evaluation of future investments for introducing bio-fuels for ships is underway.

Pollution

Practices and Policies (2024):
The terminal handling equipment renewal program involved replacing older, more polluting vehicles with engines compliant with Stage V standards, which reduce noise pollution and emissions of pollutants (particulate matter, nitrogen oxides). New vehicles are equipped with low-consumption technologies like ESS. The Group increased the share of last-mile transport in Sardinia using low environmental impact means, such as electric vans and cargo bikes.
Ships in the group’s fleet employ technologies designed to reduce sulfur oxide (SOx) emissions, such as marine scrubbers or the use of low-sulfur fuels.

Future Initiatives (Post-2024):
Continuous improvement in the efficiency of RORO Terminals is planned to further reduce diesel consumption and related pollutants.

Water and Marine Resources

Practices and Policies (2024):
The Group supports projects aimed at reducing ecosystem impact and respecting oceans, such as the Ogyre project (fishing waste from oceans), funded with a total amount of €30,000.00 of which €10,000.00 in 2024, and through partnership with sailorman Andrea Mura.
Future Initiatives (Post-2024): Commit to reducing water withdrawals through improved management, including in concession areas.
Biodiversity and Ecosystems

Policies and Practices (2024):
The Group maintains an annual investment in projects supporting biodiversity restoration (e.g., Ogyre).

Future Initiatives (Post-2024):
Maintain support for external environmental projects.

Circular Economy

Practices and Policies (2024):
Continued investment in the innovative cassette system, reaching 440 total units to optimize space utilization and operational efficiency. Replacement of lead-acid battery forklifts with 26 new lithium-battery vehicles in the Cagliari warehouse (and 13 in Bologna), leveraging self-produced solar energy. Replacement of floodlights on 5 lighthouse towers with LED technology in Cagliari terminals. Separate waste collection in all offices and operational areas and, where possible, water dispensers with filtering systems connected to the mains water supply.

Future Initiatives (Post-2024):
Further investments are planned in cassettes in 2025. The Group aims for the formalization and APPROVAL by the Board of Directors of the group procedure for green procurement. Grendi will also share best practices with all employees to help reduce their environmental impact while working from home, including practical tips and a curated list of marketplaces offering sustainable products for home offices.

Own Workforce

Practices and Policies (2024):
Internalization of cooperative personnel in Opera (MI) and Bologna was completed in 2024, leading to a substantial workforce growth of 40%. Permanent contracts represent over 67% of the total. Welfare spending increased by 62% (or +18% per capita, reaching €1,488 per employee). The Safety Manager (RSPP) role was internalized in the Holding. Total training hours increased by 9%.

Future Initiatives (Post-2024):
The Group aims to obtain Gender Equality Certification (UNI PDR 125) for one operating company and the Holding. The formalization of the MBO (Management by Objectives) structure with ESG indicators for function managers is scheduled for Completion by the end of 2026.

Workers in the Value Chain

Policies and Practices (2024):
Formalisation of the Supplier Code of Conduct since 2022. The biennial Supplier Questionnaire was administered, achieving a total response rate of 40% (55% for strategic suppliers). Financial support provided to small road transport suppliers via the Dynamic Discounting platform, anticipating €5,047,702 in 2024, with a median advance of 41 days. The Driver's Operating Manual covers behavioral norms, safety, and procedures.

Future Initiatives (Post-2024):
Development of an engagement program (workshops/meetings) with suppliers on impact themes in 2025/26.

Affected Communities

Policies and Practices (2024):
Grendi Holding is a Società Benefit, legally committed to operating responsibly towards communities. Investment in CSR projects (managed by internal employee committee) increased by 31% vs 2023, reaching €25,813. Paid volunteer hours increased to 57 hours vs 2023. The Group participated in 14 training/testimonial interventions on logistics and sustainability at universities and associations. The first public Treasure Hunt was organized in Marina di Carrara, engaging local institutions and residents.

Future Initiatives (Post-2024):
Plan to organize online campaigns and road shows on the impact report and support entities focusing on good sustainability practices.

Consumers and end-users

Practices and Policies (2024):
Grendi offers integrated B2B solutions like LORO2, utilizing the cassette system for RORO feeder services connecting Cagliari with North African ports (Tunisia and Algeria). This service generated approximately €12 million in revenues in 2024. A customer quality perception survey was conducted in 2022&23 (Covers Clients).

Future Initiatives (Post-2024):
Development of dedicated reports for vessel clients on the carbon emission impact of the logistics chain (ship + terminal) to increase environmental transparency.

Business conduct

Policies and Practices (2024):
Grendi Holding S.p.A. is a Società Benefit (SB), legally committed to responsible and transparent operation. Corporate governance reorganized according to AIDAF principles. M.A. Grendi dal 1828 S.p.A. SB obtained the ECOVADIS certification with a score of 70/100 (Top 10% of evaluated companies) in December 2024. Grendi Trasporti Marittimi received the CRIBIS Prime Company recognition in 2024 for maximum economic-commercial reliability.

Future Initiatives (Post-2024):
At te time of drafiting this report Grendgi Holding achieved the B Corp Certification (on 25/10/2025), committing the Group to continuous improvement and transparency. Achieved ELITE certificate for corporate governance in early 2025. Introduction of the MOG 231 (Organizational Management Model) to further improve formal procedure management in 2025. Biennial customer quality perception survey in 2025.
Description of practices, policies and/or future initiatives
Board of Directors
Most senior level within its employees that is accountable for policies
Climate Change

Objectives Achieved 2024 (vs 2023):
- Reduction in naval activity impact intensity (tons MFO/MDO / linear meter): -15% (Target -5% Achieved).
- Reduction in Scope 1 carbon emission intensity (tCO2e / Millions of € turnover): -9% (Target -5% Achieved).
- Reduction in Absolute Scope 2 Market Based Emissions (tCO2e): -27% (-227 tCO2e) (Target -5% Achieved).
- Increase in nominal MW installed from photovoltaic: +24% (Target +15% Achieved).
- Increase in % of MWh Electricity purchased with renewable G.O.: +24% (Target +10% Achieved).

Target 2025 (vs 2024):
- Reduction in Scope 1 carbon emission intensity: -5%.
- Increase in nominal MW installed from photovoltaic production: +10%.
- Absolute reduction in Scope 2 Market Based emissions: -10%.
- Reduction in naval activity impact per transported linear meter (tons MFO/MDO): -2%.
- Increase in volume of intermodal transport via train (tons merchandise): +10%.
- Development of Scope 3, Category 4 calculation model: CREATION OF DATABASE and model development for first calculation.

Pollution

Objectives Achieved 2024 (vs 2023):
- Reduction in environmental impact of RORO Terminals (liters diesel consumed/TEU): -2% (Target -5% Not Achieved).

Target 2025 (vs 2024):
- Reduction in environmental impact at RORO Terminals (liters diesel consumed/total TEU handled): -5%.

Water and Marine Resources

Objectives Achieved 2024 (vs 2023):
- Decrease in Water Withdrawals (m³):
-7% (Total 20,543.88 m³) (Target -20% Not Achieved).

Target 2025 (vs 2024):
- Water withdrawals in m³: -5%.

Biodiversity and Ecosystems

Objectives Achieved 2024 (vs 2023):
- Euros invested in biodiversity restoration projects (Ogyre): €10,000 / year (Target €10,000/year Achieved).

Target 2025 (vs 2024):
- N° entities supported (focus on disseminating good sustainability practices): AT LEAST 2 ENTITIES.

Circular Economy

Objectives Achieved 2024 (vs 2023):
- % tons production waste destined for recycling/reuse: -29% (Target +5% Not Achieved). (Note: excluding extraordinary disposal, the result was -4%).
- Replacement of warehouse vehicles with lithium batteries (Cagliari): 70.3% (Target 70% Achieved).
- Relamping of lights in Bologna offices with LED: 100% (Target 100% Achieved).

Target 2025 (vs 2024):
- % tons of waste recycled/reused out of total tons of waste produced: +5%.
- Formalization of group procedure for green procurement: APPROVAL by the Board of Directors.

Own Workforce

Objectives Achieved 2024 (vs 2023):
- Welfare € per capita: +18% (Target MAINTENANCE Achieved).
- Total training hours: +9% (Target +5% Achieved).
- Corporate climate survey participation: 90% (Target >85% Achieved).
- Improvement of corporate climate parameters: Not Achieved (decline recorded, though still positive vs 2020/2021/2022).
- Improvement of gender balance (% female employees): -3% (Target % INCREASE Not Achieved).
- ESG indicators (MBO) project: Not Achieved (postponed: target 2026).

Target 2025 (vs 2024):
- % operational sites monitoring Near Miss Reports: AT LEAST 70%.
- Mandatory safety training hours: +10%.
- Total welfare resources (€ total): +5%.
- Improvement of gender balance (% female employees): +2%.
- Total training hours: +5%.

Workers in the Value Chain

Objectives Achieved 2024 (vs 2023):
- Supplier survey (% response): 40% (Target 20% Achieved).
- N° suppliers using FinDynamic Platform: +7.7% (Target +5% Achieved).
- ESG supplier training initiatives: Not Achieved (Target 1 PROJECT; postponed to 2025).

Target 2025 (vs 2024):
- N° of meetings/workshops with suppliers on impact topics: AT LEAST 2 MEETINGS.

Affected Communities

Objectives Achieved 2024 (vs 2023):
- Investment in CSR projects (€ invested): +31% (Target +10% Achieved).
- N° paid volunteer hours used (57 h): +43% (Target +50% Not Achieved).
- N° training/testimonial interventions: 14 interventions (Target 2 interventions/year Achieved).

Target 2025 (vs 2024):
- Funds allocated to the internal CSR committee (% €): ≥ 0.015% of turnover.
- N° events open to citizens: AT LEAST 2 EVENTS.
- N° paid volunteer hours used: +10%.

Consumers and end-users
Target 2025 (vs 2024):
- Increase participation in biennial client survey: ≥ 2023 RESULT.
- % vessel clients covered by CO2e calculation model: ≥ 10%.

Business conduct

Target 2025 (vs 2024):
- Introduction of the MOG 231 by end of 2025
- Grendi Holding B Corp Certification by end of 2025 (achieved on 25/10/2025)
- Improving M.A. Grendi dal 1828 S.p.A. SB ECOVADIS certification score by end of 2025 (score 2024: 70/100)
Description of the target of practices, policies or future initiatives

[C03.000] - Environment - Greenhouse Gas Emissions Reduction Baseline and Target Year

2024
Greenhouse gas emission reduction target base year
2025
Greenhouse gas emission reduction target year

[C03.100] - Environment - Greenhouse Gas Emission Reduction Targets

tCO2e
Baseline year Target year
2024 2025
Gross Scope 1 greenhouse gas emissions 65,980.58 65,980.58
Gross location-based Scope 2 greenhouse gas emissions 773.42 773.42
Gross market-based Scope 2 greenhouse gas emissions 610.24 549.21
Total (gross) location-based Scope 1 and Scope 2 GHG emissions 66,754.00 66,754.00
Total (gross) market-based Scope 1 and Scope 2 GHG emissions 66,590.82 66,529.80
Total (gross) location-based GHG emissions 66,754.00 66,754.00
Total (gross) market-based GHG emissions 66,590.82 66,529.80

[C03.200] - Environment - Disclosure of list of main actions the entity seeks to achieve its targets

During 2025 to achieve the target of absolute reduction of 10% vs 2024 of gross scope 2 market-based GHG emissions Grendi will increase the self-produced electricity through the installation of new photovoltaic panels at the Bologna Bentivoglio warehouse and increase the share of electricity consumption from the grid that is covered by renewable energy guarantees of origin (G.O.)
Disclosure of list of main actions the entity seeks in order to achieve its targets

[C03.300] - Environment - Transition plan for undertakings operating in high climate impact sectors

2028-10-27
Date of adoption of transition plan for undertaking not having adopted transition plan yet

[C05.000] - Social - Additional (general) workforce characteristics

0.73
Female-to-male ratio at management level for the reporting period Calculation: number of female employees at management level / number of male employees at management level
0.00
Total number of temporary-workers provided by undertakings primarily engaged in employment activities

[C06.000] - Social - Additional own workforce information - Human rights policies and processes

YES
Undertaking has a code of conduct or human rights policy for its own workforce
Child labour
Forced labour
Human trafficking
Discrimination
Accident prevention
Other content
Type of content covered by the code of conduct or human rights policy for its own workforce
• Legality and compliance
• Fairness, loyalty and honesty
• Traceability, transparency and confidentiality
• Prohibition of corruption
• Supervision and disclosure of contributions/donations/sponsorships
• Equality and impartiality
• Respect for the individual
• Respect for the environment
• Disciplinary system
Specification other types of content covered by the code of conduct or human rights policy
YES
Undertaking has a complaint handling mechanism for its own workforce

[C07.000] - Social - Severe negative human rights incidents

NO
Undertaking has confirmed human rights incidents in its own workforce
NO
Undertaking aware of any confirmed incidents involving workers in the value chain, affected communities, consumers and end-users

[C08.100] - Governance - Exclusion from EU benchmarks

NO
Undertakings are excluded from any EU reference benchmarks that are aligned with the Paris Agreement

[C09.000] - Governance - Gender diversity ratio in the governance body

0.50
Gender diversity ratio in governance body Calculation: number of female board members / number of male board members

[D99.000] - Other and/or entity specific information

Since the EFRAG digital Excel template available at the time of drafting this report according to VSME standards contained a bug limiting input to a maximum of 15 waste types, the missing data regarding the metric "B7 - Waste generated from 2024-01-01 to 2025-12-31" are reported in this section to ensure full disclosure:

B7 - Waste generated from 2024-01-01 to 2025-12-31:

• ID: 1 | Type of waste: 100207 Hazardous Waste - Solid waste from gas treatment of electrical arc furnaces containing dangerous substances | Unit of measurement: metric tonnes (t) | Waste diverted to recycle or reuse: 0 | Waste directed to disposal: 99,72 | Total waste recycled, reused and directed to disposal: 99,72
• ID: 2 | Type of waste: 150101 Non-Hazardous Waste - Paper and cardboard packaging | Unit of measurement: metric tonnes (t) | Waste diverted to recycle or reuse: 59,7 | Waste directed to disposal: 0 | Total waste recycled, reused and directed to disposal: 59,7
• ID: 3 | Type of waste: 150103 Non-Hazardous Waste - Wooden packaging | Unit of measurement: metric tonnes (t) | Waste diverted to recycle or reuse: 44,7 | Waste directed to disposal: 0 | Total waste recycled, reused and directed to disposal: 44,7
• ID: 4 | Type of waste: 200301 Non-Hazardous Waste - Mixed municipal waste | Unit of measurement: metric tonnes (t) | Waste diverted to recycle or reuse: 0 | Waste directed to disposal: 24,761 | Total waste recycled, reused and directed to disposal: 24,761
• ID: 5 | Type of waste: 150106 Non-Hazardous Waste - Mixed packaging | Unit of measurement: metric tonnes (t) | Waste diverted to recycle or reuse: 16,61 | Waste directed to disposal: 0 | Total waste recycled, reused and directed to disposal: 16,61
• ID: 6 | Type of waste: 200303 Non-Hazardous Waste - Street cleaning residues | Unit of measurement: metric tonnes (t) | Waste diverted to recycle or reuse: 15,03 | Waste directed to disposal: 0 | Total waste recycled, reused and directed to disposal: 15,03
• ID: 7 | Type of waste: 150102 Non-Hazardous Waste - Plastic packaging | Unit of measurement: metric tonnes (t) | Waste diverted to recycle or reuse: 13,55 | Waste directed to disposal: 0 | Total waste recycled, reused and directed to disposal: 13,55
• ID: 8 | Type of waste: 160214 Non-Hazardous Waste - Other iscarded equipments | Unit of measurement: metric tonnes (t) | Waste diverted to recycle or reuse: 10,839 | Waste directed to disposal: 0 | Total waste recycled, reused and directed to disposal: 10,839
• ID: 9 | Type of waste: 200101 Non-Hazardous Waste - Paper and cardboard | Unit of measurement: metric tonnes (t) | Waste diverted to recycle or reuse: 10,15 | Waste directed to disposal: 0 | Total waste recycled, reused and directed to disposal: 10,15
• ID: 10 | Type of waste: 150202 Hazardous Waste - Absorbents, filter materials, wiping cloths, protective clothing contaminated by dangerous substances | Unit of measurement: metric tonnes (t) | Waste diverted to recycle or reuse: 0 | Waste directed to disposal: 5,32 | Total waste recycled, reused and directed to disposal: 5,32
• ID: 11 | Type of waste: 020304 Non-Hazardous Waste - Materials unsuitable for consumption or processing | Unit of measurement: metric tonnes (t) | Waste diverted to recycle or reuse: 0 | Waste directed to disposal: 5 | Total waste recycled, reused and directed to disposal: 5
• ID: 12 | Type of waste: 200304 Non-Hazardous Waste - Septic tank sludge | Unit of measurement: metric tonnes (t) | Waste diverted to recycle or reuse: 0 | Waste directed to disposal: 4,46 | Total waste recycled, reused and directed to disposal: 4,46
• ID: 13 | Type of waste: 160107 Hazardous Waste - Oil filters | Unit of measurement: metric tonnes (t) | Waste diverted to recycle or reuse: 0 | Waste directed to disposal: 0,783 | Total waste recycled, reused and directed to disposal: 0,783
• ID: 14 | Type of waste: 130208 Hazardous Waste - Other engine, gear and lubricating oils | Unit of measurement: metric tonnes (t) | Waste diverted to recycle or reuse: 0 | Waste directed to disposal: 0,699 | Total waste recycled, reused and directed to disposal: 0,699
• ID: 15 | Type of waste: 070213 Non-Hazardous Waste - Waste plastic | Unit of measurement: metric tonnes (t) | Waste diverted to recycle or reuse: 0,62 | Waste directed to disposal: 0 | Total waste recycled, reused and directed to disposal: 0,62
• ID: 16 | Type of waste: 160121 Hazardous Waste - Dangerous components other than those mentioned in 16 01 07 to 16 01 11, 16 01 13 and 16 01 14 | Unit of measurement: metric tonnes (t) | Waste diverted to recycle or reuse: 0 | Waste directed to disposal: 0,378 | Total waste recycled, reused and directed to disposal: 0,378
• ID: 17 | Type of waste: 160120 Non-Hazardous Waste - Glass | Unit of measurement: metric tonnes (t) | Waste diverted to recycle or reuse: 0,3 | Waste directed to disposal: 0 | Total waste recycled, reused and directed to disposal: 0,3
• ID: 18 | Type of waste: 150110 Hazardous Waste - Packaging containing residues of dangerous substances or contaminated by such substances | Unit of measurement: metric tonnes (t) | Waste diverted to recycle or reuse: 0 | Waste directed to disposal: 0,266 | Total waste recycled, reused and directed to disposal: 0,266
• ID: 19 | Type of waste: 170203 Non-Hazardous Waste - Plastic | Unit of measurement: metric tonnes (t) | Waste diverted to recycle or reuse: 0,14 | Waste directed to disposal: 0 | Total waste recycled, reused and directed to disposal: 0,14
• ID: 20 | Type of waste: 160213 Hazardous - Discarded equipment containing hazardous components (3) other than those mentioned in 16 02 09 to 16 02 12 | Unit of measurement: metric tonnes (t) | Waste diverted to recycle or reuse: 0,138 | Waste directed to disposal: 0 | Total waste recycled, reused and directed to disposal: 0,138
• ID: 21 | Type of waste: 160119 Non-Hazardous Waste - Plastic | Unit of measurement: metric tonnes (t) | Waste diverted to recycle or reuse: 0,101 | Waste directed to disposal: 0 | Total waste recycled, reused and directed to disposal: 0,101
• ID: 22 | Type of waste: 160901 Hazardous Waste - Permanganates, for example potassium permanganate | Unit of measurement: metric tonnes (t) | Waste diverted to recycle or reuse: 0 | Waste directed to disposal: 0,06 | Total waste recycled, reused and directed to disposal: 0,06
• ID: 23 | Type of waste: 080318 Non-Hazardous Waste - Waste printing toner other than those mentioned in 08 03 17 | Unit of measurement: metric tonnes (t) | Waste diverted to recycle or reuse: 0,056 | Waste directed to disposal: 0 | Total waste recycled, reused and directed to disposal: 0,056

• SUMMARY: Total Hazardous waste generated (mass) | Unit of measurement: metric tonnes (t) | Total: 107,364
• SUMMARY: Total Non-Hazardous waste generated (mass) | Unit of measurement: metric tonnes (t) | Total: 206,017

• SUMMARY: Total Waste diverted to recycle or reuse | Unit of measurement: metric tonnes (t) | Total: 171,93
• SUMMARY: Total Waste directed to disposal | Unit of measurement: metric tonnes (t) | Total: 141,45

• SUMMARY: Total waste generated (mass) | Unit of measurement: metric tonnes (t) | Total: 313,38
Disclosure of any other environmental and or/entity specific environmental disclosures