2023 Integrated Report

Votorantim Cimentos: Building a Sustainable Future

In 2023, Votorantim Cimentos had its best financial performance in its 87-year history, resulted from a combination of factors, including the balanced geographic exposure of our portfolio, the growth of new businesses through attractive, sustainable solutions, and the implementation of a robust competitiveness and decarbonization plan.

We keep counting on our entire global team to continue prioritizing safety, being ethical and respectful, working together with excellence and thriving with courage to transform. This is Our VC Way and how we will be increasingly prepared to build a better future for current and future generations.

“Recognizing the essential role of our products and services, we are reinforcing our competitive position in a sustainable manner through a robust investment plan, in line with our 2030 Strategy and Our VC Way”.

Osvaldo Ayres Filho, Global CEO,
Votorantim Cimentos

In 2023, we reached...

556 kg

of net CO2 emissions per tonne of cementitious materials

72.8 %

clinker/cement factor

30.9 %

thermal substitution rate

35.1 %

renewable energy

R$ 19.8 million

in external social investments

235

sites with engagement plans

10.4 %

employees engaged in volunteering

22.8 %

women in leadership positions

R$ 26.7 billion

net revenue

R$ 5.8 billion

adjusted EBITDA

R$ 2.6 billion

net profit

1.28 x

leverage

Portfolio Products and Sustainable Solutions

Seeking a balance between innovation and sustainability, we dedicate efforts to meeting the current needs of our customers globally, in line with our enduring commitment to building a better world. Our efforts to expand our portfolio offering across all our businesses include:

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Portfolio Products and Sustainable Solutions

Learn more about our production process and the circular economy. For a better experience, we recommend accessing the desktop version of the website.

Concrete

Agricultural solutions

Aggregates

Total waste management

Cement

Motz

Finishing material

Mortars

Plasticizers and additives

Grouts

JuntosSomos+

Evolving towards a sustainable world

Watch the video to learn more about our journey towards a sustainable world.

Explore the sections of this Integrated Report

Sustainability and Strategy
Corporate Governance
Finance Management
Caring for People
Competitiveness
Positive Legacy
Integrated Report

Sustainability and Strategy

As a leading building materials company in Brazil and globally influential, we’re committed to creating a better future through sustainable practices. Our 2030 Sustainability Commitments are aligned with the United Nations (UN) Sustainable Development Goals, focusing in safety, ethics, integrity and excellence. These commitments encompass seven key pillars.

Pillars of our 2030 Commitments

To guide us in this transition to a more sustainable future, we identified priority pillars:

Cementitious materials

Substitution of clinker with by-products from other industries (e.g. blast-furnace slag and fly ash) and other cementitious materials (e.g. calcined clay and natural pozzolans).

Co-processing

Substitution of fossil fuels used in cement kilns with other materials, especially biomass and various types of waste and by-products.

New technologies

Use of innovative processes and new materials, dematerialization of the value chain, carbon capture, utilization and storage, and partnerships with various entities.

Energy efficiency

Optimization of the production process, use of renewable energy sources and investment in equipment technology.

Pillars of our 2030 Commitments

Corporate Governance

We have a non-negotiable commitment to conducting our activities in an ethical manner and in accordance with regulations in force in each country where we operate. At Votorantim Cimentos, there is only one way of doing things: the right way.

During 2023, we updated our Code of Conduct, which applies to all our employees and serves as a reference for our affiliated companies, commercial partners, suppliers, service providers and customers.

Finance Management

In 2023, the combination of a diversified portfolio of products and new businesses with broad geographic distribution and investments in competitiveness, operational efficiency and innovation led us to our best financial results in our history, despite political and economic uncertainty worldwide. We had positive results across all our businesses and expanded our offering of sustainable solutions to the market.

Caring for People

Health and Safety

Health and Safety are not just measures of care—they are non-negotiable values. We have implemented several initiatives to inform and train our employees on these topics, going beyond compliance with rules and regulations. Our commitment is to have a truly safe and healthy work environment that provides the necessary conditions for employees and contractors to carry out their activities and to develop.

Diversity

We reiterated our zero-tolerance policy for discrimination based on various factors. Upholding respect for individuals as a core value, we reject any behavior conflicting with our Code of Conduct. We are dedicated to nurturing leaders whoe embrace diversity, viewing the unique qualities of their team members as competitive advantage. Furthermore, we strive to cultivate a safe environment for everyone to authentically express themselves.

Competitiveness

Our business transformation focuses on four global innovation areas: Competitiveness and Efficiency; Decarbonization; Sales Ecosystem; New Products, Services and Businesses. This includes automating processes, digitalizing operations, and exploring new decarbonization technologies.

In 2023, our Alconera plant significantly improved sustainability and competitiveness by increasing co-processing of alternative fuels from 0% to 40%.

“We embrace the future of our business, leveraging the power of innovation and sustainability. As we drive thermal substitution into our operations, we are not just evolving, we are redefining what it means to lead in our industry.”

Alan Svaiter, Spain, CEO

Positive Legacy

Social transformation

Our external investments in social transformation projects totaled R$19.8 million. At the Pedra do Cavalo hydroelectric power plant, in Bahia, we conducted our first self-rescue zone evacuation drill as part of the Emergency Action Plan (EAP). We also held a National Meeting of Traditional Peoples and Communities, fostering dialogue and exchanges with traditional and indigenous people and quilombola communities

Energy and efficiency

Following our new Long-Term Electricity Contracting Policy in Brazil, we partnered with Atlas Energia to construct a 100 MWm solar farm in the city of Paracatu, in Minas Gerais. Commercial operations are set to begin in January 2026. Additionally, we signed a power purchase and sale agreement with a wind farm in Loscos y Villar de los Navarros, Spain, supplying energy to our integrated cement plants (Alconera, Málaga, Niebla and Toral) since the start of the year.

2023 Integrated Report

Votorantim Cimentos: Building a Sustainable Future

In 2023, we reached...

556 kg

72.8 %

30.9 %

35.1 %

R$ 19.8 million

235

10.4 %

22.8 %

R$ 26.7 billion

R$ 5.8 billion

R$ 2.6 billion

1.28 x

Portfolio Products and Sustainable Solutions

Portfolio Products and Sustainable Solutions

Evolving towards a sustainable world

Explore the sections of this Integrated Report

Sustainability and Strategy

Pillars of our 2030 Commitments

To guide us in this transition to a more sustainable future, we identified priority pillars:

Cementitious materials

Co-processing

New technologies

Energy efficiency

Pillars of our 2030 Commitments

Corporate Governance

Finance Management

Caring for People

Health and Safety

Diversity

Competitiveness

Positive Legacy

Positive Legacy

Social transformation

Energy and efficiency

Check out the history of the Integrated Report