ESG & SUSTAINABILITY ANNUAL REPORT 2023

CONTENTS

ORGANISATION PROFILEOUR PEOPLE
ENVIRONMENT IS PRIORITY
OUR PRODUCTGOVERNANCENOTES ON REPORTING METHODGRI CONTENT INDEXORGANISATION PROFILEINTRODUCTION
THE BRANDSOUR MISSION
MARKET PRESENCETHE GROUP SUSTAINABILITY MODELORGANISATION PROFILEINTRODUCTIONONE NETWORK.
ONE DESIGNPHILOSOPHY.
One network. One design philosophy. Boffi|DePadova occupies thehighest echelon in the market offering integrated interior living solutions,
underscored by sophistication and contemporary style. The Groupis the fusion of brand narratives, embracing Boffi, ADL, De Padova,
Time & Style ēdition and MA/U Studio. Each with its own identity,each a flagbearer of Made in Italy design, where quality is paramount,encapsulated in a timeless and function-oriented aesthetic.
United in a shared vision that aims to create a fully integrated andcomplementary design platform of excellence: from bathrooms tobeds and wardrobes and spanning kitchens, upholstered furniture
and accessories. This operation forms the cornerstones for Boffi and
De Padova to work together very closely for developing their strong
focus on international expansion, a route already selected by bothcompanies, with the aim of supporting “Italian know-how” around theworld, building a group with widespread market distribution, both inresidential and contract.

4

ORGANISATION PROFILEINTRODUCTION

5INTRODUCTIONORGANISATION PROFILEFROM THE 1930s
TO THE 1990s

1934

Piero Boffi established
his own firm.

1954

Asti, Favre and Boffi
created the C Series:
the first kitchen in colour.

1960

The first kitchen combining
wood and laminate
was manufactured: the T12
was launched, designed
by Gian Casé andPier Ugo Boffi.
Luigi Massoni
was Art Director,
together with otherdesigners, he createdthe famous Xila andDogu kitchens.

1963

At the Triennale di Milano
and MoMA museum,the Minikitchen, designed
by Joe Colombo,
was exhibited.

1980

The focus on bathroom
design was set in motion.
Born out of thecollaboration with Antonio
Citterio, Factory wascreated, expression of
restraint and high-techrolled into one.

1995

Compasso d'Oro
Career Award.
Boffi Studio Paris opened:
Boffi's first overseas store.

6

INTRODUCTIONORGANISATION PROFILEFROM 2000
TO 20102002

The Boffi
Quality Management
System was awarded
certification according to
the UNI EN ISO 9001:2000
Standard.

2004

Cut taps,by Mario Tieronllo
and Tiberius Ceratus,
was short-listed for theCompasso d 'Oro industrial
design award and won the“Red Dot” Awardfor best product (bestdesign product).

2007

The kitchen table
Table System designed
by Piero Lissoni won
the “Chicago Atheneum
Good Design Award”
in 2007.

2008

The “+/-” wardrobe
received the Chicago
Atheneum Good DesignAward.

2010

Boffi Trade: 21 Boffi
stores worldwide.
Boffi's Environmental
Management System
received certificationaccording to the
UNI EN ISO 14001
Standard.

7

INTRODUCTIONORGANISATION PROFILEFROM 2010
TO DATE2011

The “Aprile” kitchen
by Piero Lissoni won
the “Elle Decoration
International DesignAwards” 2010/2011.

2014

Boffi turned 80 years old,
the Salinas kitchen
by Patricia Urquiola is aneco-sustainable solution.
The “Open Kitchen”
by Piero Lissoni
was shown at the Milan
Triennale exhibition.

2015

Boffi and De Padova
entered into an agreement
for integrating
the two companies.

2016

Boffi launched a newcustom-built kitchen
and bathroom projectfor customers.

2017

De Padova purchased
75% of the equity
in MA/U studio.

2019

ADL became part ofof theBoffi|DePadova Groupthough an initial 50%
equity purchase.

TO BE CONTINUED...
8ORGANISATION PROFILE

THE BRANDS: Boffi

9

ORGANISATION PROFILE

THE BRANDS: Boffi“THE HISTORY OF ITALIANDESIGN IS ALSO A PART THE
HISTORY OF THE BOFFI FAMILY”.
The year was 1934 when Piero Boffi founded his company and, inover eighty years that Boffi has been in business, it has shown its
talent and flare for interpreting evolving tastes and technologies,
establishing for itself a robust, high-end reputation for innovationand design internationally. Art direction by the biggest names in
Italian design, including Luigi Massoni, Antonio Citterio and, forover the last thirty years, Piero Lissoni, contributed to growth in
the eighties of this prestige and eclectic brand's offering and it hasgiven rise to a complex but extraordinarily true-to-itself catalogue,
populated with collections and cult pieces which reflect and interpret
new lifestyles. The brand, through its wide-ranging offering, is alsoable to make strong headway in emerging markets. This strategy
was given new impetus in the nineties, after Roberto Gavazzi and
Art Director Piero Lissoni joined the company; it was their idea toshowcase their productions at the Salone del Mobile in Milan, but
Fuorisalone outside the trade show, exhibiting in landmark venues
around the city, such as the deconsecrated Church of San Paolo
Converso, launching a cultural event that is still the signature of theSalone today involving the entire city.

10

ORGANISATION PROFILE

THE BRANDS: Boffi

The turning point came in 1998, the year in which the first bathroom
showroom was inaugurated - “Boffi Solferino” - in Via Solferino in
Milan. It was the first of a long series of single-brand stores in Italy andaround the world, which have become the cornerstone of the company's
expansion policy. The big shift came in the decade starting in 2000,
which first saw the brand's extension into wardrobe systems, under the
project “Solferino” in 2010 and, in the same year, collaboration with
Fantini which blossomed into a contemporary and refined design tap
and fittings range, a perfect complement for Boffi. In the same period,
Cut taps designed by Mario Tesserollo and Tiberio Cerato wasshort-listed for the Compasso d 'Oro industrial design award and won
the “Red Dot” Award for best design product. International expansion
was also given new focus, thanks primarily to targeted and careful
acquisitions.

11

ORGANISATION PROFILE

THE BRANDS: Boffi

2015 marked the first acquisition of the historic De Padova brand, a key
step that aimed to complete the furnishing offering with contemporary
living space interiors, recognised for their timeless aesthetic value.
Since 2016 onwards, Boffi has introduced a new, bespoke “tailor made”
furniture offering that is customised and “hand-sewn” according to
the customer's brief, embracing the choice of materials, finishes andcontainer systems.
In 2018, the Boffi Solferino showroom was extended to accommodate
the De Padova collections. It now also has frontage in Via Palermo.
Boffi has expanded into five continents and forty countries with Boffi
Trade : a network of over 450 showrooms, of which 50 single-brandoutlets, located in the most exclusive districts of the design capitals,
showcasing collections and bringing the appeal and sophisticationthat is unique to Made in Italy to all four corners of the world.

12

ORGANISATION PROFILE

THE BRANDS: De Padova

13

ORGANISATION PROFILE

THE BRANDS: De Padova“NORDIC DESIGN ARRIVESIN ITALY FOR THE FIRST TIME”.
In 1956, Fernando and Maddalena De Padova founded the company,
marked by outlook and openness to contemporary design, and taking
inspiration and cue from Nordic (Scandi) design, expressed as an
instinctive leaning towards beauty and scrupulous attention to design.
They were the first to bring Nordic design to Italy, with its essential lines
and linear shapes, importing Scandinavian furniture and decorative
objects, sold at the Via Montenapoleone showroom in Milan.
In the 1960s, Maddalena met American company, Herman Miller,
which granted her the licence for Italy to manufacture furniture
designed by Charles Eames and George Nelson: thus ICF De Padova
was established, based in Vimodrone, which would manufacture
Herman Miller office furniture in Italy. In the 80s, after selling the ICF
brand, Maddalena De Padova created a line of furniture and decorative
objects branded De Padova, giving rise to the creation of “Edizioni
De Padova” which would then become “ ē De Padova “.

14

ORGANISATION PROFILE

THE BRANDS: De Padova

At the dawn of the new millennium, Maddalena was awarded theCompasso d'Oro alla Carrera, the Career Award and, during thisperiod, she started collaborating with young emerging designer talentsthat have enriched De Padova's sophisticated offering.
After the merger with Boffi in 2015, the historical collection was
relaunched under a different light with certain subtle, contemporary
retouches and production was broadened to include original pieces
designed by Lissoni, Nendo, Maarten van Severen and other brilliant
talents discovered by the brands.
In January 2017, De Padova acquired Danish brand MA/U Studio, astart-up manufacturing high-end interior and office shelving systems
that, in 2022, became an integral part of the De Padova offering.
In 2020, De Padova entered into partnership with Time & Style to create
the “ Time & Style ēdition “, also showcased in Tokyo, as well as at the
Milanese showrooms, including Santa Cecilia and Boffi Solferino.

15

ORGANISATION PROFILE

THE BRANDS: ADL

16

ORGANISATION PROFILE

THE BRANDS: ADL“WE DON'T CREATE PARTITIONSBUT CONNECTIONS, FOR
OFFERING MAXIMUM COMFORTTO PEOPLE WHO EXPERIENCE
THEIR HOMES”.
In 2004, entrepreneur and designer, Massimo Luca, founded ADL; acompany specialised in the design and production of mobile partitioning
systems for connecting interior spaces, with the aim of creating techsavvy products that have an architectural function within homes.
His experience in design, combined with his forward-looking thinking
have determined the direction of the company.
ADL aims to create doors that are not a just a fixture, but that complement
the environment by becoming part of it. All this is part of a philosophy inwhich the company believes and invests heavily, according to a culturalvision in which aesthetics and design are closely linked to the world
around us, and which, as such, must be respected and protected.
An approach that caught the attention of the Boffi|DePadova Group,and ADL joined the Group in February 2019, through an initial purchaseof 50% of the share capital, contributing to further acceleration of thebusiness plan, launched in latter years, with the additions of De Padova
and MA/U Studio.

17

ORGANISATION PROFILE

18

ORGANISATION PROFILE

19

ORGANISATION PROFILEOUR MISSIONOUR MISSION
There are two pinnacles of excellence, where the Boffi|DePadova
Group is unrivalled: the first, in custom-made processes, approachedadopting bespoke methods, capable of creating individual pieces andspecific systems, thanks also to targeted partnerships for the supplyof household appliances and the on-going search for the most refinedand appreciated materials and features: steel, stone, sanitary ware andtaps and fittings, building an increasingly complete and exclusive range.
The second, a balance between entrepreneurial, vision-based, production model and design creativity, combined with big and small
eureka moments that, in varying the performance and appearance of
surfaces, by accentuating corners, creating curves, making joints invisible and imagining future uses, has invented the culture of design asa lifestyle.

20

ORGANISATION PROFILE

BOFFI|DEPADOVA GROUP SUSTAINABILITY MODEL

BOFFI|DEPADOVA GROUPSUSTAINABILITY MODELIn Biffi's corporate history and culture, the topic of Sustainability has
always been a factor occupying top-of-mind. A journey already started
and consolidated over the years through a family tradition that, since
1934 has enabled Boffi to plunge its roots deep into the local area
where it operates and flourishes, actively becoming a major player on
the Italian design scene.
Sustainability is an integral part of the values, culture, creativity,
technology and entrepreneurship of the Boffi|DePadova Group,
crossing all areas, from planning and production to management
decisions.

21

ORGANISATION PROFILE

BOFFI|DEPADOVA GROUP SUSTAINABILITY MODEL

The goal of enhancing all aspects associated with environmental, social
and business sustainability is the result of strong synergy between the
Boffi|DePadova Group and its employees, the specific nature of thelocal area, designers, suppliers, customers and the end-markets where
it operates. A system of relations with the various stakeholders directed
at implementing a continuous development and enhancement process,both in relation to the company and its products, in strict respect of theenvironmental standards existing in all countries where the Group hasa market presence.
The challenge for the Boffi|DePadova Group is based on the notionof making the product “Sustainable” by improving its environmental
and social performance through innovation, not only in materials
and services but also in working methods, behaviour and business
management systems.
A challenge that is top on the list of priorities is safeguarding end-consumers, who should also be able to base their choices on the socialand environmental quality of a product. The vision underpinning a project marked by the social values that founder Piero Boffi embraced,seeing transition from artisan workshop to international company
as an expression of Made in Italy in the world.

22

BOFFI|DEPADOVA GROUP SUSTAINABILITY MODELORGANISATION PROFILE

We share the UN Sustainable Development Goals (SDGs) as aninternational framework and have responded to the demand for
greater accountability by implementing projects and introducing
measures that influence the four main goals we have identified
as strategic:

7.
AFFORDABLE
AND CLEAN
ENERGY

8.
DECENT
WORK ANDECONOMICGROWTH12.
RESPONSIBLE
CONSUMPTIONANDPRODUCTION

13.
CLIMATEACTION

23

MARKET PRESENCEORGANISATION PROFILEEUROPEMIDDLEEASTASIA

AMERICAS
AFRICA

OCEANIA+450 STORES
5 CONTINENTS
40 COUNTRIESThe Boffi|DePadova Group has more than 450 stores
across 5 continents and in more than 40 countries around the world.
24

ORGANISATION PROFILE

25 BOFFI|DEPADOVADIRECT RETAILOUTLETS13 000 SQM
120 STAFF

MARKET PRESENCEBOFFI|DEPADOVA DIRECT RETAIL
Antwerp/B
Barcelona/E
Berlin/D
Cannes/F
Chicago/USA
Cologne/D
Copenhagen/DK
Denver/USA
Frankfurt/D
London/GB
Los Angeles/USA
Madrid/E
Miami/USA
Milan/I
Munich/D
New York/USA
Paris/F
Rome/I
Singapore/SGP
Washington/USA
Zurich/CH

25

MARKET PRESENCEORGANISATION PROFILE

25 BOFFI|DEPADOVAINDIRECT RETAILPOINTS
Aarau/CH
Amman/HKJ
Amsterdam/NL
Arezzo/I
Auckland/NZ
Bangkok/TBeijing/CHN
Capetown/SA

50 BOFFI|DEPADOVAINDIRECT STORES
16 505 SQM
300 PEOPLE+300 MULTIBRAND
BESTSELLERS

Casablanca/MA
Dubai/UAE
Dusseldorf/D
Florence/I
Frauenfeld/CH
Gothenburg/SWE
Hamburg/D
Hong Kong/SAR-RC
Jakarta/RI
Helsinki/FIN
Kyiv/UKR
La Coruña/ELucerne/CH
Lyon/F
Manila/RP
Melbourne/AUS
Mexico City/MEX
Moscow/RUS
Naples/I

New Delhi/IND
Oslo/N
Palma de Mallorca/E
Perugia/I
Port/P
Rome/I
Rotterdam/NL
Saint Tropez/F
San Francisco/USA
São Paulo/BR
Seoul/ROK
Shanghai/CHN
Shenzhen/CHN
Sydney/AUS
Stockholm/SWE
Taichung/TW
Taipei/TW
Tel Aviv/IL
Turin/I
Treviso/I
Vicenza/I
Vienna/AUT
Zug/ CH

MULTIBRAND
BEST SELLERS
Barcelona/E
Geneva/CH
Johannesburg/SA
Ljubljana/SLO
Riga/LVSaint Petersburg/RUS
Seoul/ROKTokyo/J
Vilnius/LT
Warsaw/PL

26

OUR PEOPLE

OUR PEOPLECORPORATE WORKFORCETHE VALUE OF WOMENCORPORATE WORKFORCE BY AGE GROUPTURNOVER ANALYSISEMPLOYMENT CONTRACT STABILITY
OCCUPATIONAL HEALTH AND SAFETYVOCATIONAL TRAININGOUR PEOPLE

OUR PEOPLE
People are the most valuable asset for the Group, as well as an essential
resource for ensuring business continuity.
The human factor has always been at the centre of our corporate
development policies, while constantly searching for new, suitable
contexts for enhancing its diversity.

28

Corporate workforce

OUR PEOPLECORPORATE WORKFORCE
Boffi|DePadova
Total company workforce

The total workforce of the Group in 2022 amounted to 319 people,
including temporary workers, which has constantly grown over thethree-year reporting period.

294

297

319

2021

2022

2023

The three graphs below show the corporate workforce for theindividual Group companies.

Boffi
Corporate workforce
23

De Padova
Corporate workforce
20

ADL
Corporate workforce
2

20
1

1

2

202

209

220

24

26

29

43

40

48

2021

2022

2023

2021

2022

2023

2021

2022

2023

Temp workers
Employees

29THE VALUE OF WOMENOUR PEOPLE

THE VALUE OF WOMEN
Gender differences are a resource and they are recognised and properly enhanced in developing the Group companies. This principle iswell integrated into the Group's DNA, which is committed to hiring policies aimed at eliminating any type of discrimination.
This following chart shows the corporate breakdown by gender of theGroup, including temp workers.

32%

Females

68%

Males

Boffi|DePadova
Corporate breakdown by gender

205

207

89

89

2021

2022

217

Boffi|DePadova
Corporate breakdown by gender 2023

102

2023

Males
Females30

THE VALUE OF WOMENOUR PEOPLE

BOFFI

15%

Although in Boffi S.p.A. females account for about 1/3 of the workforce(the figure is strongly influenced by the predominant male presence inproduction departments, while women carry a higher weight in officeroles) it should be noted that women nevertheless occupy 55% of
the roles involving positions of responsibility.

13%

Non-managerial
supervisors

1%

Seniormanagers3%
Temp
workers

Female bluecollar workers

68%
Boffi
Breakdown of management roles by gender

Femalewhite-collar
workers

Boffi
Corporate breakdown by gender

10
9

9

9

8
7

161

1
2021

1

1

1

2022

1

166

64

1

2021

2023

Male non-managerial supervisors

Male managers

Males

Female non-managerial supervisors

Female managers

Females

Boffi
Female workforce breakdown 2023

171

63

2022

69

2023

31

THE VALUE OF WOMENOUR PEOPLE

DE PADOVA

7%

Non-managerial
supervisors

Given the type of activity strongly linked to design and product design,in De Padova women account for more than 50% of the total workforce.

93%
De Padova
Breakdown of management roles by gender

Femalewhite-collar
workers

De Padova
Corporate breakdown by gender

54

4

De Padova
Female workforce breakdown 2023
12

1

2021

1

1

2022

2023

11

2021

Male non-managerial supervisors

Males

Female non-managerial supervisors

Females

13

13

2022

14

15

2023

32

THE VALUE OF WOMENOUR PEOPLE

ADL
Regarding ADL, the female workforce accounts for about 35% of theheadcount and women work primarily in office roles.

ADL
Corporate breakdown by gender

32

12

2021

25

15

2022

31

17

2023

Males
Females33

CORPORATE WORKFORCE BY AGE GROUPOUR PEOPLECORPORATE WORKFORCEBY AGE GROUP
For all three companies in the Group, the predominant age groupremains between 30 and 50 years old.

Boffi
Corporate workforce by age group

ADL
Corporate workforce by age group

126

124

121

De Padova
Corporate workforce by age group

74

69

67

20

28

18

16

12

7

1
2021

<30 years

2022

Between 30 and 50 years

2023

2021

13
4
2022

9

6

12

11

18

15

13

2021

3

2

2
2023

27

23

2022

2023

>50 years

34

CORPORATE TURNOVER BREAKDOWNOUR PEOPLECORPORATE TURNOVER
BREAKDOWN
Personnel selection and management policies are defined independently by each company — in line with their requirements — basedon principles and practices established by Group Management.

Boffi - Corporate turnover breakdown

The following tables show total new hires and leaver numbers for thethree-year reporting period for the individual companies.
For all companies, total leavers, including retirees, were exceeded by
the greater number of hires.

De Padova - Corporate turnoverbreakdown

2021

2022

2023

Total new hires for the reporting period

No.

12

21

26

of which male

No.

6

16

18

of which female

No.

6

5

8

Total leavers for the reporting period

No.

22

14

18

of which male

No.

15

10

11

of which female

No.

7

4

4

Leaver turnover rate

%

10.89

6.70

8.18

2021

2022

2023

2021

2022

2023

ADL - Corporate turnover breakdown

Total new hires for the reporting period

No.

3

4

3

Total new hires for the reporting period

No.

9

7

14

of which male

No.

2

2

1

of which male

No.

7

4

10

of which female

No.

1

2

2

of which female

No.

2

3

4

Total leavers for the reporting period

No.

3

2

1

Total leavers for the reporting period

No.

7

4

6

of which male

No.

2

1

0

of which male

No.

6

NA

5

of which female

No.

1

1

1

of which female

No.

1

NA

1

Leaver turnover rate

%

12.50

7.69

3.45

Leaver turnover rate

%

16.28

10

12.50
35

EMPLOYMENTCONTRACT STABILITYOUR PEOPLEEMPLOYMENT CONTRACTSTABILITY
Corporate stability is an essential factor for the Boffi|DePadova
Group, almost 100% of employees have an open-ended employment
contract.

BOFFI
At Boffi, 99% of direct employees have an open-ended
employment contract. In 2023, 21 people took parental leave.

Job classification follows the national CCNL (bargaining agreement):
specifically for Boffi, the national collective agreement for wood, cork,
furniture, furnishings and woodland forestry workers is adopted; while
for De Padova and ADL the national collective agreement for tertiary
workers is the agreement in place.
Boffi
Employees by type of employment contract
2

139

61

2021

1

1

2021

2022

2023

female open-ended

61

61

66

male open-ended

139

147

152

female fixed-term

0

0

1

male fixed-term

2

1

1

152

147

61

2022

Boffi
Employees by type of employment contract

66

2023

male fixed-term

male open-ended

Female fixed-term

female open-ended

36

EMPLOYMENTCONTRACT STABILITYOUR PEOPLE

Part-time contracts are not especially widespread due to the typeof jobs available at Group companies which requires a full-timecommitment. Part-time is however granted on request wheneverrequired. 100% of staff working part-time are women.
This underscores the company's willingness to introduce solutions
aimed at promoting a more positive work-life balance.
Along the same lines, the company has also introduced the option ofsmart working, when requested.

Boffi
Employees by employment type
9

141

52

2021

6

9

152

148

52

2022

Boffi
Employees by employment type

2021

2022

2023

female full-time

52

52

61

male full-time

141

148

152

female part-time

9

9

6

male part-time

0

0

1

61

2023

male part-time

male full-timeFemale part-time

female full-time

37

EMPLOYMENTCONTRACT STABILITYOUR PEOPLEEMPLOYMENT CONTRACT STABILITY
DE PADOVA
Boffi's approach is also reflected in the other subsidiaries: the tables
below show employee categories by type of employment and contract.
For De Padova, all employees have open-ended and full-time contacts.

De Padova
Employees by type of employment contract
1
1

2021

2021

2022

2023

female open-ended

13

13

15

male open-ended

9

13

14

female fixed-term

1

0

0

male fixed-term

1

0

0

De Padova
Employees by type of employment

2021

2022

2023

female full-time

13

13

15

male full-time

10

13

14

female part-time

1

0

0

male part-time

0

0

0

De Padova
Employees by employment type
2

13

14

13

15

10

9

13

De Padova
Employees by type of employment contract

13

2022

15

2023

13

2021

13

2022

14

2023

Male fixed-term

Male open-ended

Male part-time

male full-timeFemale fixed-term

Female open-ended

Female part-timeFemale full-time

38

EMPLOYMENTCONTRACT STABILITYOUR PEOPLEEMPLOYMENT CONTRACT STABILITY
ADL
Regarding ADL, it should be noted that more than half of the female
workforce is employed full-time.

ADL
Employees by type of contract
1

2021

5

female open-ended

10

15

16

male open-ended

25

25

26

female fixed-term

0

0

1

male fixed-term

0

0

5

2021

2022

2023

female full-time

7

11

13

male full-time

30

24

30

female part-time

5

4

4

male part-time

1

1

1

1

ADL
Employees by type of employment

26
25

2022

2023

4
4

15

2022

1
1

12

2021

ADL
Employees by employment type
5

31

ADL
Employees by type of contract

30

16

2023

7
2021

24

11

2022

Male fixed-term

Male open-ended

Male part-time

Male full-timeFemale fixed-term

Female open-ended

Female part-timeFemale full-time

30

13

2023

39

OUR PEOPLE

Occupational Health and Safety

OCCUPATIONALHEALTH AND SAFETY
Although the Group companies are not ISO 45001 certified, Boffi has amanagement system implemented according to BS OHAS 18001, withthe aim of supporting and promoting best practice in the occupational
health and safety area, including self-regulation, in a way which balances social and business requirements.
This system has enabled Boffi to prepare its Occupational Healthand Safety policy, to establish goals and processes for complying
with well-defined commitments and to take any measures necessary
for improving performance.
Thanks to this system, the number of in-company incidents and the relevant rates have always been extremely low.
The Health and Safety culture is promoted across the company throughthe role of the internal Health and Safety Officer who is responsible,
among other things, for:• Supporting the employer in risk assessment and management, by
preparing relevant prevention and protection measures.
• Recommending information, training and instruction programmes.
• Identifying measures for ensuring the safety and salubrity of work environments.
• Conducting staff audits.
The main job-related risks at Boffi are due to impacts or cuts from materials or manual equipment.
40

Occupational Health and Safety

OUR PEOPLE

BOFFI
The following section reports incident numbers and their rates which,in 2023 totalled 4. In incident reporting, accidents to staff on journeys
to and from work have not been considered as they are not related tocorporate production situation.
2021

2022

2023

Total number of recorded job-related injuries

2

0

4

Number of lost days due to injury

19

0

106

Boffi
Health and safety training hours

830

Accident Severity ratio

0.05

0

0.35

Accident Frequency ratio

5.06

0

13.02

698
554

2021

2022

2023

The company is especially sensitive to health and safety training as a tool for preventing incidents and, for this reason, it organises general and specific training sessions at the company
on a regular basis, according to current H&S regulations addressing all corporate levels.

41

Occupational Health and Safety

OUR PEOPLE

DE PADOVAADL

The following graphic shows the hours of training provided by De Padova to its workforce on topics regarding Health and Safety.

The following graphic shows the hours of training provided by ADL to
its workforce on topics regarding Health and Safety.

De Padova
Health and safety training hours

ADL
Health and safety training hours

200

200

220

2022

2023

128
60
2021

29
2022

2023

In 2023, no incidents were recorded at De Padova.

2021

No job-related incidents or accidents suffered by personnel at work or on their way to andfrom work were reported by the company over the three-year reporting period.
42

VOCATIONAL TRAININGOUR PEOPLE

VOCATIONAL TRAININGThe Group places a special focus on personnel training activities.
Moreover, activities are not restricted to mandatory health and safety training, in accordance with Italian legislation, but various training
sessions are organised that include both environmental topics andproduct-related training, as well as embracing personal growth aspects. Training requirements are identified at team level by managers,
and subsequently shared with HR management for approval of the
training plan.
Non-mandatory training courses cover various topics regarding thedevelopment of technical and product-related skills.
Total Group training hours are reported below, including mandatory
training hours.
Boffi|DePadova
Total training hours

1885

1913
1746

2021

2022

2023

43

OUR PEOPLE

VOCATIONAL TRAINING

BOFFI ACADEMY:
INVESTING IN
HUMAN CAPITALThe Boffi Academy was created to promote the employment of young
graduates at the company, enabling them to gain experience in the various areas of corporate operations: starting with the design team andthen moving on to cross-functional job roles, with a view to identifying
career opportunities based on personal skills and experience accrued.
After suitable vocational training, professional figures are hired at thecompany that include areas such as store layout design and sales support project services, as well as training for in-house staff, sales-support staff or project managers.

44

OUR PEOPLE

VOCATIONAL TRAINING

WORKING WITH SCHOOLS ANDHIGHER EDUCATION INSTITUTIONS
In line with its operational possibilities, Boffi also regularly establishes
work-school alternation contracts, thus giving young people who arefinishing their studies the opportunity to gain first-hand experience ofthe job world.
In 2023, the company activated 10 school-work alternation contracts,
curricular internships and extra-curricular internships.

45

ENVIRONMENT IS PRIORITY

ENVIRONMENT IS PRIORITY
ENERGY USAGE
WASTE
GREENHOUSE GAS (GHG) EMISSIONSWATER USAGERESOURCE OPTIMISATIONENVIRONMENT IS PRIORITY

ENVIRONMENTIS PRIORITY
The Group has been managing its work processes efficiently for many
years, paying special attention to the impact they may have on the environment.
Boffi S.p.A has implemented its own environmental performance monitoring system focusing on maximising process efficiency.
In line with the provisions of its Code of Ethics, Boffi considers respect
for the environment as a key value in its business operations and, therefore, steers its strategic choices with a view to responding proactively
to the principles of sustainable development, and with this goal in mind,
it promotes raising environmental awareness among all Stakeholders
that have dealings with the Group.
In addition, according to the Corporate Policy document, Boffi considers the Environmental Quality Management System a key tool forachieving high degrees of product quality, reliability and competitiveness, with special emphasis on occupational health and safety. The
Internal Environmental Management System (EMS) is, therefore,
the most effective operating method for achieving such service objectives, as well as being a guarantee for customers; it also ensures attention to environmental impact and the development of durable products
through sustainable processes. For this reason, since 2010, Boffi S.p.A.
has applied for and obtained ISO 14001:2015 certification for its Environmental Management system.

47

ENVIRONMENT IS PRIORITY

In the near future, the Group has set itself the goal of obtaining
UNI EN ISO 14001:2015 Standard certification for its other subsidiaries. The companies belonging to the Group act independently
in the search for improvement actions. Despite this, there is a synergythat makes it possible to identify common paths for the managementof environmental aspects.
From the analysis of environmental indicators reported, it emerges that
Boffi S.p.A. generates a greater impact because it is directly involved in
production processes.

48

ENVIRONMENT IS PRIORITY

ENERGY USAGE

ENERGY USAGE
The Group is committed to electricity savings in order to minimise its
environmental impact.
Regarding this topic, a series of improvement actions have been introduced to reduce manufacturing process-related energy waste.
Projects are also underway to increase the energy efficiency of machinery and lines.

49

ENERGY USAGEENVIRONMENT IS PRIORITY

BOFFI

Boffi
Volumes generated (m3)

As can be seen from the graphic below, Boffi's energy usage
increased by 3% from 2022 to 2023, in relation to the 17% decreasein production volumes. However, the ratio of consumption to hours
worked shows a substantially stationary trend. These numbers show
a greater complexity in the manufacturing processes that requirea greater number of working hours, with a consequent increase in
consumption.

8,514.51

2021

Boffi
Electricity usage (kWh)2,258,706

2021

2,351,512

2022

9,965.14

2022

Boffi
Electricity consumption indexed
to hours worked

8,280.45

2023

5.71

5.83

5.89

2021

2022

2023

Boffi
Electricity consumption indexed to m3 produced (kWh/m3)

2,429,1332023

265.282021

235.972022

293.362023

50

ENERGY USAGEENVIRONMENT IS PRIORITY

Energy recovery from sawdust combustion.
Through the use of a heat recovery system, Boffi generates energy
from the combustion of sawdust.
In this way, the company is able to reduce waste production thatneeds to be outsourced for processing/disposal, contain usage forspace heating and production and, as a result, reduce greenhousegas emissions 1.
The company places great store in the potential of this type of recovery
and its sawdust volumes and heat so obtained using this method
increased significantly over the three-year reporting period, confirming
this trend.

In 2023 alone, Boffi was able to allocate about 371,714 kg of
sawdust for this type of heat generation, with a heat yield of
796,211 K kcal.

Boffi
Recovered sawdust (kg)

Boffi
Energy recovery from sawdust (kcal)

The 2022 figure on dust production was overestimated due to anerror in the reading of the values, while in 2023 the methodology forcalculating and reading the data was fine-tuned.

1,646,300,502

768,581410,184

878,614,128

796,211,388

371,714

2021

2022

2023

2021

2022

2023

1. Since wood combustion has a zero emission coefficient, energy self-generation from such combustion is equivalent to not emitting CO2-eq which, instead, would be emitted by purchasing energy from traditional supply sources. This was made possible as the trees fromwhich the wood comes have offset emissions generated by their combustion over their lifecycle.

51

ENERGY USAGEENVIRONMENT IS PRIORITY

Against an increase in the production of thermal energy fromsawdust, there was a significant decrease in methane gas usage,used primarily for heating.

Boffi
Methane usage (sm3)343,1812021

234,752

253,412

2022

2023

52

ENERGY USAGEENVIRONMENT IS PRIORITY

DE PADOVADe Padova has no manufacturing operations and this enables energy
usage to be kept extremely low, mainly serving work area and officelighting and air conditioning.
Despite a series of changes to systems made with a view to increasing
their efficiency, reducing waste, the increase in activity has led to an increase in energy consumption compared to 2022 of 23%.

The energy usage value indexed to revenue, although dependent inpart on market dynamics that change the result, shows that De Padova
was the most successful at keeping energy usage in check compared
to its production over the reporting period. In 2023, this indicator fell by
19% compared to 2021, despite an increase of 23% compared to 2022.

De Padova
Electricity usage (kWh)De Padova
Electricity usage indexed to revenue (kWh/k€)

200,909
196,759

12.80

163,895

10.42
8.46

2021

2022

2023

2021

2022

2023

53

ENERGY USAGEENVIRONMENT IS PRIORITY

The value of energy consumption indexed to the hours worked also
shows data consistent with the previous graphic, with a substantial reduction from 2021 and a slight increase over 2022.

De Padova
Electricity consumption indexed to hours worked

4.23

3.52

3.99

2021

2022

2023

54

ENERGY USAGEENVIRONMENT IS PRIORITY

ADL
Energy efficiency and renewable energy sources:
the ADL photovoltaic system
Expansion from the standpoint of production and volumes required
increased energy usage to meet market needs. For this reason, ADL
self-satisfied 22% of its energy needs with a photovoltaic system.
ADL's commitment is a sentiment shared by the entire Group which,with a view to reducing its emissions, intends in coming years to install
photovoltaic systems at its sites.

22%

Self-generated electricity

78%

Purchased electricity

ADL
Self-generated photovoltaic electricity (kWh)ADL
Energy supply 2023
56,851

53,27550,742

2021

2022

2023

55

ENERGY USAGEENVIRONMENT IS PRIORITY

ADL
ADL's usage increased over the three-year reporting period, mirroringmarket growth.
Over the last reporting period, the company also experienced significant growth in production; main usage is attributable to the aluminium
processing departments and cutting and drilling machining stations.

ADL
Electricity usage (kWh)ADLElectricity usage indexed to revenue (kWh/k€)
50,742

53,27556,851
175,657
108,657
86,248

2021

2022

14.02

14.10

16.53

2021

2022

2023

2023

Self-generated energy
Purchased energy

56

ENVIRONMENT IS PRIORITY

WASTE

WASTE
The Group's commitment to environmental topics is also reflected in
its waste management, preferring, where feasible, materials recovery and, alternatively, energy recovery, to best put circular economy
principles into practice.
Efforts have been made to minimise waste sent for disposal.

57

WASTEENVIRONMENT IS PRIORITY

BOFFI
In the two-year period 2022-2023, the total amount of waste consigned
to third parties increased by 7%.
Boffi was also successful in limiting the production of hazardous waste,
to the best extent possible, through careful selection upstream of the
raw materials used in manufacturing. An example of this process was
the desire to limit the use of solvent-based paint as far as possible,
preferring water-based products. This has led to a 2% reduction inhazardous waste.

Through applying the principle of ongoing improvement, Boffi was alsoable to maintain a waste recovery percentage constantly higher
than 70%, increasing this percentage to 86% in 2023 3.

Boffi
Waste breakdown (kg)

Boffi
Waste destination (Kg)

Boffi
Waste destination (%)

133,117392,950

422,702

1,055,081
705,886

681,824
38,602
2021
Hazardous waste

26,8122022

14%

114,751

180,382
413,420

24.8%

21%

75.2%

79%

2021

2022

86%

26,2212023
Non-hazardous waste (excluding sawdust)

2021

2022

Recovery (including sawdust)

2023

2023

Disposal

2. Considering recovery of materials and energy

58

WASTEENVIRONMENT IS PRIORITY

DE PADOVA
Regarding waste management, De Padova has managed to eliminate
almost all production of hazardous waste over the years, reporting just150 Kg in 2023.
Total waste decreased by 14% from 2022 to 2023.

The graphics below show that in 2023 100% of waste produced by De
Padova was sent for recovery thanks to a different management method adopted by the same disposal operator.

De Padova
Total non-hazardous waste (Kg)

De Padova
Waste destination (Kg)

17,28046,69038,23022,43043,45043,60029,41015,8002021

2022

Non-hazardous waste (excluding sawdust)

2023

2021

2022

Recovery (including sawdust)

2023
Disposal

59

WASTEENVIRONMENT IS PRIORITY

ADL
ADL production primarily uses glass and aluminium, hence, raw materials that do not generate hazardous waste, but, instead, are suitable
for recovery operations. In fact, all waste is sent for material recovery.
In 2023, waste production decreased by 13%.

ADL
Total waste (Kg)

128,330

111,698

2022

2023

93,753

2021

60

ENVIRONMENT IS PRIORITY

GREENHOUSE GAS (GHG) EMISSIONSGAS EMISSIONS
3
GREENHOUSE GAS (GHG) EFFECT
The effects of climate change on our planet are increasingly evident
and primarily a result of emissions generated by human activities. The
most significant emissions are attributable to so-called greenhousegases (GHG), generally expressed as tonnes of CO2 equivalents, withcarbon dioxide being the most common GHG. For embarking on a targeted path leading to reducing its emissions, the Group has launched
an emissions' reporting procedure directly linked to its operational activities.
Emissions are reported according to the internationally recognised
GHG Protocol Standard, breaking down contributions into:• Scope 1:: usage of natural gas, corporate car diesel, new installations
and refills of equipment containing refrigerant gases.
• Scope 2: electricity purchased using Market-Based methods4.

Note
3. The emission factors for the enhancement of GHGs for the three companies were updated in
2022. This involved a review of the quantity of emissions in the years 2020 and 2021. For calculating GHGs, any losses due to fgas have not been reported.
4. The Market-Based method provides for calculation of emission contributions generated by theenergy supply, considering the energy mix covered by the corporate provider.

61

GREENHOUSE GAS (GHG) EMISSIONSENVIRONMENT IS PRIORITY

BOFFI
As shown in the graphics below, over the three-year reporting period,
Boffi managed to decrease its emissions by 49 tonnes of CO2 equivalent compared to 2021. This result was primarily achieved by reducing the quantities of methane gas supplied.

Transition to sustainable mobility.
For pursuing alternative and more sustainable mobility, an agreement has been discussed forthe replacement of the car fleet with Plug-in hybrid cars, with a view to reducing fuel combustion emissions.
The company has also arranged for the installation of 9 EV recharging columns on site andplans to increase the number in line with the requirements of the corporate car fleet. Currently
43% of corporate cars are hybrid.

Boffi
Total GHG emissions (CO2-eq tonnes)

Boffi
GHG emissions breakdown by Scope (CO2-eq tonnes)

1,075

1,031
1,772

1,723
1,619

2021

1,110

2022

741

2023

2021
Scope 1

541

2022

612

2023
Scope 2 (market-based)

62

GREENHOUSE GAS (GHG) EMISSIONSENVIRONMENT IS PRIORITY

DE PADOVA
Also De Padova reported an increase in emissions, totalling, in thiscase, 56 tonnes of CO2-eq.

De Padova
Total GHG emissions (CO2-eq tonnes)

232

193

De Padova
GHG emissions breakdown by Scope (CO2-eq tonnes)

249
142

2021

2022

2023

90

2021
Scope 1

118

75

2022

157

92

2023
Scope 2 (market-based)

63

GREENHOUSE GAS (GHG) EMISSIONSENVIRONMENT IS PRIORITY

ADL
ADL, however, reported an increase in emissions in line with previously
reported electricity usage.

Improvement goal
Boffi has planned in coming years to implement a photovoltaic system of just under 1 MW, capable of self-generating around 1/3 of the corporate electricity requirements.
It has been estimated that this investment will enable CO2 emissions to be reduced by up toaround 500 tonnes.

ADL
Total GHG emissions (CO2-eq tonnes)

ADL
GHG emissions breakdown by Scope (CO2-eq tonnes)

83.40

92.52

80.30

65.95
26.58
2021

49.67

39.38

2022

2023

2021
Scope 1

33.73
12.22
2022

2023
Scope 2 (market-based)64

ENVIRONMENT IS PRIORITY

WATER USAGE

WATER USAGE

5

Water usage for the Group was relatively low, since manufacturing
activities do not involve using large quantities of water; therefore, thebiggest factor contributing to water usage is domestic water use by all
workers. Supply for all three Group companies comes directly from thepublic aqueduct.

Note
5. Water usage was estimated by taking original data from periods spanning several years. In
such cases, the contribution for each year was calculated in proportion to the number of months
in each year. Data for which it was not possible to retrieve a figure were estimated, using the prioryears' average.

65

ENVIRONMENT IS PRIORITY

WATER USAGE

In the three-year period reviewed, Boffi's usage increased
by 2,970 m3.

Also for De Padova, water usage is primarily for domestic use.
There was an increase in consumption compared to the previous yearof 915 m3.
ADL's production, as for other companies, did not include the use ofwater for production processes. In 2023, the company reported water
consumption totalling 448 cubic metres.

Boffi
Water usage (m 3 )De Padova
Water usage (m 3 )

6,173
4,683

6,053

7,653

4,621
3,706

2021

2022

2023

2021

2022

2023

66

ENVIRONMENT IS PRIORITYRESOURCE OPTIMISATIONRESOURCEOPTIMISATION
Boffi is sensitive to how its actions may impact the local area. For thisreason, in recent years, it has implemented measures aimed as optimising the use of resources, with a view to limiting waste, guaranteeingthat resources will still be able to be enjoyed by future generations.
Among the most important issues regarding the use of resources, todate, a key role has been played by the management of plastic at thecompany. To reduce the use of this important and limited material in its
business, the company has introduced a series of measures aimed, in
the immediate future, at eliminating the use of plastic in all processes
where it is not necessary.
The various measures adopted include - and most noteworthy is - distribution to all employees of multipurpose aluminium flasks, designed
according to the principles of “Life Cycle Perspective” and, therefore,
considering not only impacts linked to their manufacture but also totheir use and disposal. These bottles, in fact, respond to environmental principles such as disassembly and recyclability. At the same time, alarge number of automatic water dispensers connected directly to thewater network have been introduced at the company.
In addition, all plastic bottles at the company have been replaced withglass returnable bottles, with a view to making glass more easily recyclable and reusable.

67

OUR PRODUCTOUR PRODUCTTHE PRODUCT: BOFFIDE PADOVAADL
SUPPLY CHAIN

OUR PRODUCTOURPRODUCT
Sustainability, circularity and durability: these are the features thatare increasingly guiding the Group's choices in materials selection, forwhich resources and energy are constantly invested.
The sourcing of materials is done according to a controlled supply
chain, pursuing, where possible, mitigation of the environmental
footprint and protection of ecosystems.
The quest for quality is also based on a management system certified
according to the ISO 9001 Standard, which Boffi and De Padova haveheld since 1996. The drive for on-going improvement, innovation andcreativity has also translated into the search for excellence in the manufacturing chain.

69

OUR PRODUCTTHE PRODUCT: BOFFI

THE PRODUCT: BOFFI ULTIMATE CUSTOMISATIONAND CONTROLLED SUPPLY CHAIN.
Customisation and transparency: Not only the accent on materials but, primarily, on customer needs.
All Boffi manufacturing output follows guidelines and detailed customer-supplied drawings, who are given the option of customising, according to their tastes, a full range of accessories.
With this concept in mind, and endorsing information transparency,
a database of materials used in production has been created with material data sheets, which may be downloaded from the Boffi website,
showing, in a clear and legible way, sustainability features: material origin, recyclability, certifications and environmental impact.
The company has also decided not to source wood from primary forests, guaranteeing protection of flora and fauna.

70

OUR PRODUCTTHE PRODUCT: BOFFI

FSC certified
The FSC (Forest Stewardship Council) Chain of Custody certification
guarantees traceability of materials from FSC certified forests and it isessential for using FSC-certified labelling on products.
This certification ensures that the raw material used for manufacturing
wooden furniture is sourced from well-managed FSC-certified forests,
recycled materials and other controlled sources. Since 2021, the company has been certified in accordance with the FSC-STD-40-004 v3.1
Standard.
As reported on the following page, Boffi's production range underscores corporate commitment to increasingly sustainable and responsible material sourcing. Each graphic compares the FSC and non-FSC
source purchase trend for the same source material over one year. It
can be seen that all non-FSC purchases decreased against a substantial increase in FSC purchases.

71THE PRODUCT: BOFFIOUR PRODUCTBoffiMelamine-faced chipboard (MFC) (m3)

471.8

494.6

Boffi
Spruce slats (m3)

46.3

603.6

20.1
231.1

Boffi
Printer paper (kg)

4,775

25.5

3,150

4,800

195
62.8

2021

2022

2023
FSC materials

Non-FSC materials

Boffi
Cardboard honeycomb panel (m3)

2021

2022

2023
FSC materials

Non-FSC materials

Boffi
MDF panels (m3)

2021

2022

2023
FSC materials

Non-FSC materials

Boffi
Continuous corrugated cardboard for packaging (m2)

362
12.3

18.5

20

345

303

345.53281.712021
Non-FSC materials

2022

2023
FSC materials

2021
Non-FSC materials

2022

2023
FSC materials

2021
Non-FSC materials

286,8312022

2023
FSC materials

72

OUR PRODUCTTHE PRODUCT: BOFFI

Reuse culture and providing materials a second life, embracing the
Circular Economy is also a key topic for Boffi: for example, solid
woods, used by Boffi, in fact, are a fine reclaimed wood, such as Riverfossil oak, a wood with extraordinary aesthetic and resistance features,
extracted from riverbeds using specialist divers, to ensure protectionof flora and fauna.
For veneering, Boffi has opted to use decorative, engineered veneer(Ecowood series) sourced exclusively from poplar or linden woods,
all strictly controlled origin, which are decomposed and recomposedcreating an infinite range of chromatic nuanced essences, finishes anddecorations. The new finishes introduced by Boffi include Rosewood,
Ebony and Teak; the first two are among the so-called “lost essences”(difficult to source because they are obtained from protected species),
created using a special recomposition process, which produces animpeccable aesthetic result, without the defects that may sometimes
be found in the original timber.
Boffi has also adopted using finishing solutions with water-based paintproducts for many years, which also include products formulated using recovery-cycle materials.

73

THE PRODUCT: BOFFIOUR PRODUCTBoffi also uses aluminium as a preferred material for its recyclable
attributes, whenever required in the product design. The graphic below
reports aluminium purchases for the three-year reporting period.

Boffi
Aluminium (kg)

49,36930,80325,566

2021

2022

2023

74

OUR PRODUCTTHE PRODUCT: DE PADOVADE PADOVA:SUSTAINABLE DESIGNAND NATURAL FABRICS
The De Padova project was launched in 1956, when Ferdinando andMaddalena began their entrepreneurial venture by importing furnitureand Scandinavian decorative accessories, featuring sharp, clean andlinear shapes.
The design approach for new products is always directed at the choiceof materials, construction and logistics techniques that are sensitive toand responsible with respect to environmental issues. Specifically, atthe design phase, construction techniques that enable disassembly of
the components are preferred; this has the goal of enabling any repair
or replacement of individual parts and, at the product end-of-life stage,
they facilitate materials disposal and recovery.
In addition, with a view to guarantying the highest quality and durability of products, recycled materials or those of recyclable origin, natural
and/or certified fibres have been introduced in certain articles.
Research into increasingly eco-friendly and sustainable materials andconstruction methods is an important objective that the company has
set itself at all stages of product development.

75

THE PRODUCT: DE PADOVAOUR PRODUCTFor its upholstered products, De Padova primarily uses natural fabrics
such as linen, wool and cotton. Below is an overview of total purchases,
expressed in linear “running” metres.

De Padova
Fabrics purchased (LM)22,932
22,62820,993

2021

2022

2023

76

OUR PRODUCTTHE PRODUCT: DE PADOVAEVERYDAY LIFE COLLECTION:SUSTAINABILITY CERTIFIED,DE PADOVA DESIGNEDGreat emphasis has been given to sustainability aspects in the designof the Everyday Life armchair: from the use of predominantly natural
materials such as hemp for upholstery and kapok, as well as recycledfeathers for filling.
Following the concept of circularity and eco-design, the armchair was
designed with the precise purpose in mind for facilitating its recyclability at the end of the product's life: the structure of the sofa can in fact befully disassembled.
For measuring sustainability performance correctly, the De Padova
Everyday Life armchair also underwent a material circularity
analysis, which aims to measure efficient use of the resources
employed.
The criteria and parameters adopted were validated by Bureau
Veritas and comply with the guidelines of the Circular Economy
Action Plan of the European Commission (CEAP).
The analysis process is based on the Input – Output approach,
aimed at measuring quantities and environmental features of theresources sourced, and the ways in which they are returned to theenvironment.

77THE PRODUCT: ADLOUR PRODUCTADL:RECYCLABILITY AND
CIRCULAR ECONOMY
ADL's visionary project was established with the aim of designing andproducing interior doors in aluminium and glass with excellent aesthetic precision, with maximum functional performance and an eye toeco-sustainability in the choice of materials. ADL doors are in fact the
apotheosis in technology: from devices to materials.
Glass and aluminium, highly technological and innovative materials, are the raw materials used by ADL for manufacturing its products. The following graphic reports quantities purchased over thethree-year reporting period, expressed in kg.
ADL
Aluminium (kg)ADL
Glass (kg)619,000
185,000

207,852

229,596

500,000

525,000

2021

2022

2023

2021

2022

2023

78

THE PRODUCT: ADLOUR PRODUCTIn addition to glass and aluminium, the following graphic shows the other types of materials purchased by ADL for manufacturing. Regarding
paper and cardboard purchasing, the company commissioned a feasibility study on the possibility of purchasing all FSC-certified material,in line with the other Group companies.

ADL
total other materials purchased

2021

2022

2023

Cardboard for packaging

Kg

27,00030,00072,988

Plastics and plastic-based materials

Kg

1,500

1,800

2,000

Additional chemicals (total varnishes/paints)

Kg

0

0

0

of which water-based paints

Kg

0

0

0

Office printer paper reams

Reams

400

440

558

79

OUR PRODUCTSUPPLY CHAIN

SUPPLY CHAIN
The Group's suppliers are primarily located around the local area.
Thanks to its procurement policies, based on managing a short-range
supply chain, the Group is able to ensure that materials purchased meetthe standards the company embraces from the standpoint of humanrights and the environment.
To maintain the high quality standards of its supply chain, Boffi conducted a mapping study in 2022 and in the whole of 2023, using a qualification questionnaire and monitoring the sustainability performanceof its suppliers. This questionnaire was carefully prepared, with the aimof becoming a reference framework for generating value from sharedsustainability practices, improving engagement with the supply chain,disseminating the sustainability culture and achieving competitive advantages and long-term results that are the fruit of strong partnerships
and cooperation.
Questions covered all the key sustainability areas and typical industry-related aspects: from correct management of environmental impacts, to certification and labour inclusion, as well as social sustainability inclusion policies.
The Group also intends to implement an audit trail for the main suppliers, classified according to parameters such as turnover, with/withoutcertifications and geographical proximity.
The objective is to start audits on the 15 suppliers classified for De Padova, and then extend such audits to the other Group companies.

80

GOVERNANCECORPORATE ASSETS AND GOVERNANCE MODELOUR KEY FIGURESCORPORATE ASSETS AND GOVERNANCE MODEL

GOVERNANCECORPORATE ASSETS AND
GOVERNANCE MODEL
The Boffi Group consists of the direct subsidiaries Boffi Montecarlo, De
Padova, Adielle, Boffi Asia Pacific and Boffi Trade in which Boffi holds all
equity (with the exception of Boffi Montecarlo, 97% owned and Adielle
90% owned).

93%
Boffi Montecarlo
100%
De Padova S.r.l.
BOFFI S.P.A.

90%
Adielle S.r.l.
100%
Boffi Asia Pacific100%
Boffi Trade S.r.l.

82

GOVERNANCE

100%

CORPORATE ASSETS AND GOVERNANCE MODEL

Boffi Trade Milan (2 stores).
13 employees Sales revenue: 19,567k
95%
Boffi USA34 employees Sales revenue 27,895K
95%

Boffi Trade S.r.l.
in turn, made up as follows:

Boffi International
3 employees Sales revenue: 2,351k
85%
Boffi Scandinavia
4 employees Sales revenue: 2,299k
90%
Boffi UK (2 stores)
14 employees Sales revenue: 6,404K
100%
Boffi Singapore
3 employees Sales revenue: 1,695k
97%
Boffi Roma
2 employees Sales revenue: 802k
100%Boffi Antwerpen
3 employees Sales revenue: 962k
100%
Boffi Frankfurt
2 employees Sales revenue: 1,199k
95%
Boffi Berlin
3 employees Sales revenue: 1,465k
100%
Boffi Köln
2 employees Sales revenue: 555k
100%
Boffi München
3 employees Sales revenue: 795k
100%
Boffi Trade Espana (Barcelona)
4 employees Sales revenue: 1,399k
100%
Madrid2 employees Sales revenue: 1,199k
100%
Boffi France(2 stores): 17 employees. Sales revenue: 5,972K

83

GOVERNANCE

For the purpose of conducting its business dealings through a transparent and integrated governance model, Boffi and De Padova haveadopted a series of rules of conduct, monitoring and oversight tools
and organisational procedures, with a view to meeting the expectationsof the various stakeholder categories. An example of this approach is
the organisational model within the meaning of Italian Legislative Decree 231, which aims to introduce measures for preventing
misconduct, distinguishing the liability of natural persons from that of
the legal entity.
For all 3 companies, a traditional governance model had been
adopted, consisting in a board of directors, a board of statutory auditors and a system of independent auditors. As required
under the 231 Model, a supervisory body also exists, made up of two
external and one internal members.
The Board of Directors, appointed by the shareholders' meeting, iscomposed of 1 chairperson, 1 deputy-chairperson and 6 directors. Boffi S.p.A., also adopts an executive committee, supporting the BoD thatmeets once a month to define business and corporate strategy and to
discuss final and forecast financial results/targets. The BoD meets formally twice a year.

CORPORATE ASSETS AND GOVERNANCE MODELManagement responsibilities are fully intercompany for Boffi and De
Padova, where strategic functions are centralised.
ADL still retains certain decision-making autonomy, as the most recent
Group acquisition. However, the goal is to bring the company into linewith the Group corporate governance policies.
In 2023, the group companies were not subject to any sanctions.

84

CORPORATE ASSETS AND GOVERNANCE MODEL

GOVERNANCEOUR KEY FIGURES
Since its beginning its business operations, Boffi's business has beenmarked by a positive growth trend, both in economic terms and recognition accorded by the market and the local area.

In 2022, the manufacturing companies making up the Group(Boffi, De Padova and Adielle) generated just over EUR 86 million; this value was up 4.3% compared to 2022. Economic value directly generated was calculated through reclassification of the statementof profit or loss.

Boffi|DePadova
Total revenue from sales (€)

69,796,688

82,753,571

86,327,587

2021

2022

2023

85

CORPORATE ASSETS AND GOVERNANCE MODEL

GOVERNANCE

BOFFI
In 2023, Boffi generated slightly in excess of EUR 53 million;
up 3% compared to 2022.

MU

2021

2022

2023

Direct economic value generated: sales revenue€

44,223,022

51,913,077

53,617,810

Distributed economic value of which:€

43,580,404 50,998,867 51,954,898

Operating costs€

30,021,395

36,644,911

36,115,429

Employee salaries and benefits€

12,750,799

13,383,123

14,029,394

Payments to capital providers€

731,581

892,433

1,701,641

Payments to the Public Administration andinvestments in the local community€

76,62978,400108,434

Boffi
Revenue from sales (€)

44,223,022

51,913,077

53,617,810

2021

2022

2023

86

CORPORATE ASSETS AND GOVERNANCE MODEL

GOVERNANCE

DE PADOVA
In 2023, De Padova generated slightly in excess of EUR 19 million;
substantially in line with the previous year.

MU

2021

2022

2023

Direct economic value generated: sales revenue€

15,367,994

19,381,691

19,282,046

Distributed economic value of which:€

13,684,577

18,953,093

18,458,432

Operating costs€

30,021,395

16,977,649

16,342,783

Employee salaries and benefits€

11,946,342

1,796,792

1,891,072

Payments to capital providers€

1,551,834

122,452

185,685

Payments to the Public Administration andinvestments in the local community€

75,43056,20038,892De Padova
Economic value generated: sales revenue (€)

19,381,691

19,282,046

2022

2023

15,367,994

2021

87

CORPORATE ASSETS AND GOVERNANCE MODEL

GOVERNANCE

ADL
In 2023, ADL generated slightly in excess of EUR 13 million;
up 17% compared to 2022.

MU

2021

2022

2023

Direct economic value generated: sales revenue€

10,205,672

11,486,154

13,427,731

Distributed economic value of which:€

4,223,445

10,047,762

11,387,770

Operating costs€

2,538,229

8,176,590

9,216,745

Employee salaries and benefits€

1,685,216

1,871,172

2,171,025

ADL
Economic value generated: sales revenue (€)

11,486,154

13,427,731

2022

2023

10,205,672

Payments to capital providers€

024,612

28,628

Payments to the Public Administration andinvestments in the local community€

0433,870

466,249
2021

88

NOTES ON REPORTING METHODREPORTING BOUNDARY, SCOPE AND TOPICS

NOTES ON REPORTING METHODREPORTING BOUNDARY, SCOPE AND TOPICSREPORTING BOUNDARY,SCOPE ANDTOPICS
In conducting their business activities, each Organisation interacts
with its own organisational, economic and environmental, social andbusiness context, both within and outside its facilities. Interaction withinternal stakeholders (such as employees) or external stakeholders(such as the environment, institutions and communities) are therefore
continuous and constant. The scope of this Report is to examine from aquantitative standpoint, through data and qualitatively via disclosures,the impact of the company on the environmental and social dimension,as well as being the first formal step in consolidating the already fruitfulengagement relationship with stakeholders undertaken by the Organisation.

Reporting boundary
The reporting boundary includes:• Boffi S.p.A, at its business address in Via Guglielmo Oberdan, 70,
20823 Lentate sul Seveso (MB).
• De Padova S.r.l., at its business address in Via Santa Cecilia (registered office) and Via Padana Superiore, 280A, 20090 Vimodrone MI(warehouse and offices).
• ADIELLE S.r.l., at its business address in Via Preazzi, 79 – 36010
Zanè (VI).
The data and disclosures in the sections of this Report, as well as in thereporting tables and the materiality matrix topics, regard the reporting
boundary stated in these Notes on Reporting Methods.
Whenever data reported fails to include all corporate offices or all disclosures necessary for the purpose of full calculation, such cases shallbe appropriately reported in the relevant text. Whenever data referring
to previous reporting periods have been reviewed, such adjustments
will be reported in the text accordingly.
Within the report and in theses notes, the wording “Group” or “Boffi|De
Padova” shall be construed as meaning all entities of Boffi S.p.A., De
Padova S.r.l. and ADIELLE S.r.l., together with their previously listed local units.

90

NOTES ON REPORTING METHOD

Material topic definition.
This document has been prepared in accordance with the “Sustainability Reporting Standards” defined by the Global Reporting Initiative(GRI) version 2021 - “with reference” option. This report has not beenreviewed by a third party. In 2021, the Group defined the so-called “material” topics, i.e. relevant (according to the materiality principle of a sustainability report) and priorities for reporting. The combination of internal and external “Materiality” allocated to each topic returns a value ofimportance that enables the prioritising of such issues, according to apriority scale, selecting a limited series, for the purpose of focussing
action commitments and reporting. Its graphic representation is therefore the output of a consultation, analysis and evaluation process fordetermining the relevance of the sustainability topics, defined based ona suitable topic list identified by the company, considered as reflecting
its activities and guaranteeing coverage of all Sustainability aspects.

REPORTING BOUNDARY, SCOPE AND TOPICS

sustainability topics. For correctly identifying the relevant topics, thefollowing activities were conducted:• Interviews with managers heading up the main corporate functions,with the aim of surveying the main factors involved in their tasks, establishing interest in sustainability issues and identifying relevant
projects/actions that may be the subject of specific reporting.
• Interviews with the Workers' Representative for Safety (R.L.S.) andthe Single Trade Union Representative (R.S.U.).
• A survey was also conducted using an evaluation questionnaire sent
to 79 strategic suppliers, of which 26 were returned,
All interviews were conducted based on a “standard questions” format,
which provided a canvas for highlighting thinking and interest points andsustainability-related considerations. Interview outputs were sharedwith Corporate Management.

Topics identified as relevant through considering their interest to theOrganisation and stakeholders are those which have been selected
for reporting. With a view to making this Report as comprehensive as
possible, certain qualitative-quantitative disclosures regarding topics
that have been considered less relevant than others have howeverbeen included in the Report.
The stakeholder engagement process involved both internal stakeholders and external stakeholders relevant to business activities and91

REPORTING BOUNDARY, SCOPE AND TOPICSNOTES ON REPORTING METHODThis following section lists the topics that emerged as relevant fromthe interviews conducted with stakeholders and from discussions with
Corporate Management, in relation to the material topics, according to
the GRI Standards and the boundary for such topics in the Report.

Topics relevant to the Boffi|DePadova GroupGRI Standard topics

Boundary302-305

Internal-External

301

Internal-External

Equal opportunity, diversity, inclusion andnon-discrimination policies

405-406

Internal

Staff training

401-404

Internal

403

Internal

102-401-405

Internal-External

Energy efficiency and climate change action
Responsible natural resource and raw material usage

Occupational Health and Safety
Corporate wellness and work-life balanceEco-design, innovation and product quality
Customer satisfaction and experience(Customer Experience)
Correct supply chain management
and efficient logistics
Legislative and regulatory complianceInternal
416

Internal-ExternalInternal-External

205-206

Internal-ExternalBusiness strategy and economic performance

201

Internal

Projects in support of local communities

413

External
92

REPORTING BOUNDARY, SCOPE AND TOPICSNOTES ON REPORTING METHOD

Stakeholder Relevance Mapping

As previously stated, the stakeholder engagement process involved
both internal stakeholders within the company and external stakeholders relevant to business activities and sustainability topics.
In 2021, a mapping of relevant stakeholders was conducted, with a viewof fine-tuning the engagement process. The output of the stakeholder
relevance mapping was as follows; the graphic shows the relevanceof the Group's stakeholders, on a scale from “not relevant to very relevant”.

Public Administration(..... bodies)

Personnel and/or
co-workers

Private customers(individuals, businesses or...)Material suppliers

Service providers andindependent contractors...
Company ownership/
Shareholders/Members...

Affiliates

Other

Credit institutions

Associations andlocal communities

93

REPORTING BOUNDARY, SCOPE AND TOPICSNOTES ON REPORTING METHOD

The graphic showing material topic relevanceis represented by the following matrix:

5.00

Energy efficiency and climate change action

4.50

Responsible natural resource and raw material usage

Staff training
Occupational Health and Safety
Corporate wellness and work-life balanceEco-design, innovation and product quality
Customer satisfaction and experience (Customer Experience)

Relevance for Stakeholders

Equal opportunity, diversity, inclusion and non-discrimination policies
4.00

3.50

Proper supply chain management and efficient logistics
Legislative and regulatory complianceBusiness strategy and economic performance

3.00

Projects in support of local communities

2.50
2.50

3.00

3.50

4.00

4.50

5.00

Relevance for the Group94

NOTES ON REPORTING METHOD

Data and reporting period.
The Group in this report intends to provide stakeholders with a balanced view of the corporate responsibility strategy and performancefor the three-year period 2021-2023.
Data were updated on 31/12 of each reporting period. Whenever there
were any exclusions arising out of a lack of data or from the reporting
period for such data, such exclusions will be reported in the text accordingly.
Restatements of information- GHG

REPORTING BOUNDARY, SCOPE AND TOPICS

In light of the recent updates on the accounting of Scope 2 emissions
deriving from purchased electricity, it was necessary to adjust theamount of emissions generated using the market-based calculation
over the three-year reporting period.
This was due to the fact that the amount of renewable energy under
the contract with the supplier does not include guarantees of origin,consequently a specific conversion factor was used that took into account national production from non-renewable sources.

95

GRI CONTENT INDEXGRI STANDARD 			DISCLOSURE

SUB-SECTION

2-1 Organisational details“Section 1.1 - Notes on reporting methods”

2-2 Entities included in the organisation's sustainability reporting“Section 1.1 - Notes on reporting methods”

2-3 Reporting period, frequency and contact point

NOTES ON REPORTING METHOD

2-4 Restatements of information

Section 1

2-5 External Assurance

The report is not subject to external assurance

2-6 Activities, value chain and other business relationships

Sections 1.1 - 4.1 - 4.2 - 4.3 - 4.4

2-7 Employees

Section 2.1

2-8 Workers who are not employees

Section 2.1

2-9 Governance structure and composition

Section 5.1

2-10 Nomination and selection of the highest governance body

Section 5.1

2-11 Chair of the highest governance body

Section 5.1

2-12 Role of the highest governance body in overseeing the management of impacts

Section 5.1

2-13 Delegation of responsibility for managing impacts
2-14 Role of the highest governance body in sustainability reporting

GRI 2:
General Disclosures 2021

2-15 Conflicts of interest
2-16 Communication of critical concerns
2-17 Collective knowledge of the highest governance body
2-18 Evaluation of the performance of the highest governance body
2-19 Remuneration policies
2-20 Process to determine remuneration
2-21 Annual total compensation ratio
2-22 Statement on sustainable development strategy

Message to our stakeholders

2-23 Policy commitments

Section 3

2-24 Embedding policy commitments
2-25 Processes to remediate negative impacts
2-26 Mechanisms for seeking advice and raising concerns
2-27 Compliance with laws and regulations

Section 5.1

2-28 Membership associations
2-29 Approach to stakeholder engagement

NOTES ON REPORTING METHOD

2-30 Collective bargaining agreements

96

GRI CONTENT INDEXGRI STANDARD 			“GRI 3: Material Topics 2021”

GRI 201: Economic performance 2016

DISCLOSURE

SUB-SECTION

3-1 Process to determine material topics

Material topics and impact analysis

3-2 List of material topics

Material topics and impact analysis

3-3 Management of material topics

Material topics and impact analysis

201-1 Economic value directly generated and distributed

Section 5.2

201-2 Financial implications and other risks and opportunities due to climate change
201-3 Defined benefit plan obligations and other retirement plans
201-4 Financial assistance received from the government

GRI 202: Market Presence 2016
GRI 203: Indirect Economic Impacts 2016
GRI 204: Procurement Practices 2016

202-1 Ratios of standard entry level wage by gender compared to the local minimum wage
202-2 Proportion of senior management hired from local community
203-1 Infrastructure investments and services supported
203-2 Significant indirect economic impacts
204-1 Proportion of spending on local suppliers
205-1 Operations assessed for risks related to corruption

GRI 205: Anti-corruption 2016205-2 Communication and training about anti-corruption policies and policies
205-3 Confirmed incidents of corruption and actions taken

GRI 206: Anti-competitive behaviour 2016

206-1 Legal actions for anti-competitive behaviour, anti-trust and monopoly practices
207-1 Approach to tax

GRI 207: Tax 2019

207-2 Tax governance, control and risk management
207-3 Stakeholder engagement and management of concerns related to tax
207-4 Country-by-country reporting

GRI 301: Materials 2016

301-1 Materials used by weight and volume

Sections 4.1 - 4.2 - 4-3

301-1 Recycled input materials used

Sections 4.1 - 4.2 - 4-3

301-3 Reclaimed products and their packaging materials

Sections 4.1 - 4.2 - 4-3

302-1 Energy consumption within the organisation

Section 3.1

302-2 Energy consumption outside of the organisation

GRI 302: Energy 2016302-3 Energy intensity
302-4 Reductions of energy consumption

Section 3.1

302-5 Reductions of energy requirements of products and services

GRI 303: Water and Effluents 2018

303-1 Interactions with water as a shared resource

Section 3.4

303-2 Management of water-related discharge impacts

Section 3.4

303-3 Water withdrawal

Section 3.4

303-4 Water discharge

Section 3.4

303-5 Water consumption

Section 3.4

97

GRI CONTENT INDEXGRI STANDARD 			DISCLOSURE

SUB-SECTION

304-1 Operational sites owned, leased, managed, or adjacent to protected areas or areas of high biodiversity value outside protected areas.

GRI 304: Biodiversity 2016

304-2 Significant impacts of activities, products and services on biodiversity304-3 Habitats protected or restored
304-4 IUCN Red List species and protected species on the national list with habitats in areas affected by operations
305-1 Direct (Scope 1) GHG emissions

Section 3.3

305-2 Energy indirect (Scope 2) GHG emissions

Section 3.3

305-3 Other indirect (Scope 3) GHG emissions

GRI 305: Emissions 2016305-4 GHG emissions intensity
305-5 Reduction of GHG emissions

Section 3.3

305-6 Emissions of ozone-depleting substances (ODS)
305-7 Nitrogen oxides (NOx), sulphur oxides (SOx) and other significant air emissions

GRI 306: Waste 2020

GRI 308: Supplier environmental assessment 2016306-1 Waste generation and significant waste-related impacts

Section 3.2

306-2 Management of significant waste-related impacts

Section 3.2

306-3 Waste generated

Section 3.2

306-4 Waste diverted from disposal

Section 3.2

306-5 Waste directed to disposal

Section 3.2

308-1 New suppliers that were screened using environmental criteria

Section 4.4

308-2 Negative environmental impacts in the supply chain and actions taken
401-1 New employee hires and employee turnover

GRI 401: Employment 2016

401-2 Benefits provided to full-time employees that are not provided to temporary or part-time employees
401-3 Parental Leave

GRI 402: Labour/management relations 2016

Section 2.1.3

Section 2.1.4

402-1 Minimum notice periods regarding operational changes
403-1 Occupational health and safety management system403-2 Hazard identification, risk assessment and accident investigation

Section 2.2

403-3 Occupational health services
403-4 Worker participation, consultation and communication on occupational health and safety

GRI 403: Occupational health and safety 2018403-5 Worker training on occupational health and safety

Section 2.2

403-6 Promotion of worker health

Section 2.2

403-7 Prevention and mitigation of occupational health and safety impacts directly linked by business relationships

Section 2.2

403-8 Workers covered by an occupational health and safety management system403-9 Work-related injuries

Section 2.2

403-10 Work-related ill health

Section 2.2

98

GRI CONTENT INDEXGRI STANDARD 			
GRI 405: Diversity and equal opportunity 2016

DISCLOSURE

SUB-SECTION

405-1 Diversity of governance bodies and employees

Section 2.1

GRI 405-2 Ratio of basic salary and remuneration of women to men

GRI 406: Non-discrimination 2016406-1 Incidents of discrimination and corrective actions taken

GRI 407: Freedom of associationand collective bargaining 2016407-1 Operations and suppliers in which the right to freedom of association and collective bargaining may be at risk

GRI 408: Child labour 2016408-1 Operations and suppliers at significant risk for incidents of child labour

GRI 409: Forced and compulsory labour 2016409-1 Operations and suppliers at significant risk for incidents of forced or compulsory labour

GRI 410: Security practices 2016

410-1 Security personnel trained in human rights policies or procedures

GRI 411: Rights of indigenous peoples 2016

411-1 Incidents of violations involving rights of indigenous peoples

GRI 413: Local Communities 2016
GRI 414: Supplier social assessment 2016
GRI 415: Public Policy 2016
GRI 416: Customer Health and Safety 2016413-1 Operations with local community engagement, impact assessments and development programmes
413-2 Operations with significant actual and potential negative impacts on local communities
414-1 New suppliers that were screened using social criteria414-2 Negative social impacts in the supply chain and actions taken
415-1 Political contributions
416-1 Assessment of health and safety impacts of product and service categories
416-2 Incidents of non-compliance concerning the health and safety impacts of products and services
417-1 Requirements for product and service information and labelling

GRI 417: Marketing and labelling 2016

Section 4.1

417-2 Incidents of non-compliance concerning product and service labelling and information
417-3 Incidents of non-compliance concerning marketing communications

GRI 418: Customer privacy 2016418-1 Substantiated complaints concerning breach of customer privacy and losses of customer data99

TO BE CONTINUED...