Statement on the Current Reporting in the Financial Times
The Heraeus Group is a globally active family-owned technology group with total revenues of approximately € 29 billion in 2024 and 15 operating companies that operate independently in their respective markets and have their own technologies, products, locations, and customers.
Following internal indications of possible deviations in the recycling process at the Heraeus Precious Metals operating company, Heraeus initiated a comprehensive and objective investigation by an external law firm. This investigation identified irregularities in the recycling process detrimental to customers. At the company's initiative, the audit was extended to adjacent areas. This further investigation is still ongoing. A preliminary assessment has already been included in the 2024 financial report. On this basis, Heraeus has set aside provisions totaling € 457.7 million for risks arising from both parts of the investigation.
The matter is presented in the financial report and published on our website Heraeus.com. We have informed the relevant authorities on our own initiative, are cooperating fully with them, and are supporting a comprehensive investigation of the matter. We have compensated the customers affected by the irregularities in the recycling process, have informed our employees and made them aware of this matter.
Previous internal reports did not initially trigger the necessary measures. The company regrets this and has responded by taking the necessary precautions to prevent recurrence and strengthen its compliance management system. Heraeus has remedied the irregularities identified by the law firm and has taken comprehensive remedial measures. In addition, we have taken the necessary personnel consequences and initiated further measures to prevent a recurrence of these events. This includes, in particular, a significant strengthening and further development of our compliance management system, as well as the expansion of our compliance organization. The Board of Managing Directors and the Supervisory Board have jointly launched a broad-based initiative that clearly emphasizes the importance of integrity and compliance within the company. Our goal is to ensure the highest standards of integrity for our customers.
Heraeus Precious Metals sets global standards in precious metal processing and recycling. Our processes are continuously developed and monitored by control systems.
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