Valmont® Industries, Inc. (NYSE:VMI), a global leader that provides vital infrastructure and advances agricultural productivity while driving innovation through technology, today released its 2024 Sustainability Report, the company's ninth report since 2015.
For nearly 80 years, Valmont has delivered infrastructure and agricultural solutions supporting our rapidly changing world. From replacing aging infrastructure and laying the groundwork for the energy transition to enhancing food security and connecting communities, our work today will shape the future for the next generation. The 2024 Sustainability Report highlights several stories that demonstrate the company's commitment to deliver sustainable and innovative solutions to our customers.
"At Valmont, we understand sustainability is not only the right thing to do, it's also a strategic lever for enhancing profitability and shareholder value," said Avner M. Applbaum, President and Chief Executive Officer. "Our commitment to conserving resources and improving life is deeply integrated into our Valmont Business Model – driving operational efficiencies, reducing costs and creating competitive advantages. Our innovations in infrastructure and agriculture not only support our customers and the planet, but also ensure the long-term success and resilience of our business."
Highlights of the 2024 Sustainability Report Include:
- Recommitment to 2025 environmental goals against 2018 baseline
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Considerable progress in improving our environmental performance
- Reduction in carbon intensity from 78.13 CO2 MT/$M to 43.96 MT/$M
- Forty-six percent reduction in normalized electricity usage – 36.5 MWh/$M revenue
- Reduction in carbon intensity of combustion fuels from 7.8 CO2 MT/$M revenue to 4.4 CO2 MT/$M
- Sixty-six percent of surveyed fixtures are compliant with our low-flow initiative
- Life Cycle Assessments on select products
- Multiple honors and awards for Environmental, Social, and Governance (ESG) initiatives
- Notable improvements in 2023 safety metrics, including a 13.5% Total Recordable Incident Rate (TRIR) reduction
- A record global response rate of 87% on our most recent employee engagement survey
- Spotlight on our Indapur Taluka Galvanizing facility in India for being awarded The Valmont Sustainability Award, the facility made significant improvements in water and energy usage efficiency and waste reduction
At Valmont, groups at all levels of the organization support ESG, including board oversight and a dedicated cross-functional ESG task force. We believe sustainability drives competitive advantages across all functions.
About Valmont Industries, Inc.
For nearly 80 years, Valmont has been a global leader in creating vital infrastructure and advancing agricultural productivity. Today, we remain committed to doing more with less by innovating through technology. Learn more about how we're Conserving Resources. Improving Life.® at valmont.com.
Concerning Forward-Looking Statements
This release contains forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on assumptions that management has made in light of experience in the industries in which Valmont operates, as well as management's perceptions of historical trends, current conditions, expected future developments, and other factors believed to be appropriate under the circumstances. As you read and consider this release, you should understand that these statements are not guarantees of performance or results. They involve risks, uncertainties (some of which are beyond Valmont's control), and assumptions. Although management believes that these forward-looking statements are based on reasonable assumptions, you should be aware that many factors could affect Valmont's actual financial results and cause them to differ materially from those anticipated in the forward-looking statements. These factors include, among other things, risk factors described from time to time in Valmont's reports to the Securities and Exchange Commission, as well as future economic and market circumstances, industry conditions, company performance and financial results, operating efficiencies, availability and price of raw materials, availability and market acceptance of new products, product pricing, domestic and international competitive environments, geopolitical risks, and actions and policy changes of domestic and foreign governments. The Company cautions that any forward-looking statement included in this press release is made as of the date of this press release and the Company does not undertake to update any forward-looking statement.
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