Annual report 2016

TABLE OF CONTENTS INTRODUCTION FROM THE CHAIRMAN OF THE BOARD OF DIRECTORS ....................................................................... 2 COMPANY INFORMATION ....................................................................... 4 Board of Directors ....................................................................... 4 Supervisory Board ....................................................................... 6 Key Information ....................................................................... 7 Key Performance Data ....................................................................... 8 Production and Sales ....................................................................... 10 REPORT BY THE BOARD OF DIRECTORS ....................................................................... 12 Business Activity ....................................................................... 13 Environmental Policy ....................................................................... 17 Human Resources ....................................................................... 17 Report on Assets and Financial Management ....................................................................... 22 Report on the Activities of Consolidated Entities ....................................................................... 28 Business Plan ....................................................................... 35 Conclusion ....................................................................... 37 INFORMATION FOR SHAREHOLDERS ....................................................................... 38 REPORT ON THE ACTIVITIES OF THE SUPERVISORY BOARD ....................................................................... 40 CONSOLIDATED FINANCIAL STATEMENTS ...................................................................... 42 CONTACT ....................................................................... 68