Code of ethics

1 Letter from the Chief Executive Officer

2 Our corporate values

3 Application of the Code of Conduct

4 Your role as a Grupo Precisgal professional

5 How to act in the event of a code violation

6 Our principles



1 Letter from the Chief Executive Officer

In the companies that make up Grupo Precisgal, we have always been committed to the highest standards of quality, safety and business ethics. We are certain that responsibility in our relations with our people and our environment will guarantee the success of our business project. This code of conduct establishes both rights and responsibilities that should guide the behaviour, in their daily activities, of the professionals who make up Grupo Precisgal. We therefore ask our professionals to respect both the ethical principles set out in this document and the legal frameworks of the countries in which we operate. All of us who are part of Grupo Precisgal have an ethical commitment to our work, a commitment that in turn our companies make to our customers, suppliers and society in general. The credibility of our companies and, consequently, their success depends on the behaviour of each one of us.

José Antonio Alonso Comesaña

2 Our corporate values



3 Application of the Code of Conduct

All the professionals that make up Grupo Precisgal must behave honestly, with integrity and responsibility. The Code of Conduct is our guide to achieving this objective in our daily performance regardless of the hierarchical level, geographic location or Group company we work for. We extend the application of this code of conduct to our suppliers and collaborators. It is essential to understand the obligation to respect this Code. Grupo Precisgal will actively ensure compliance.

The Code of Conduct and the Law

Both employees and our companies’ operations are subject to compliance with the laws of the countries in which we operate. All of our employees are expected to comply with both the Code and applicable laws, rules and governmental regulations. Legal provisions are often complex and differ depending on the geographical location, so if you have any doubts in this respect, you should consult the Group’s Legal Department.

4 Your role as a Grupo Precisgal professional

Your right: to work in an environment with guaranteed compliance with ethical principles. Grupo Precisgal is responsible for ensuring an environment conducive to compliance with ethical principles. Grupo Precisgal must provide the necessary training and time so that all professionals are aware of the principles indicated in the Code of Conduct and know how to act in the event of a dilemma. All of us who work at Grupo Precisgal have the right to work in an ethical environment, so if you are involved in or witness behaviour contrary to the principles of the Code of Conduct, you must report this behaviour confidentially, through the channels that Grupo Precisgal makes available to you. This is especially important in case there are doubts about the legality of the behaviour. If your duties include team management, you must also:

– Display and promote ethically exemplary professional conduct.
– Ensure that all members of your team have access to this Code, making sure they understand its contents.
– Prevent violations of the Code by your team members and do not encourage the achievement of results to the detriment of ethical conduct.
– Create an environment in which your team members have resolution to questions or concerns that may arise. You should not feel obliged to give an immediate response; ask for help if necessary.

Responsibilities for the Code of Conduct

All professionals who are part of Grupo Precisgal must know and comply with this Code of Conduct. You should carefully read all the principles and guidelines set out in the Code and ensure that you comply with them in your daily activities.

Occasionally a situation will arise that is not covered by the Code that will raise questions about whether or not the situation complies with the Code. In these cases you have to apply common sense, ask yourself:
– is this action ethical?
– is it legal?
– would I feel comfortable if I had to explain myself in a court hearing?
– would I feel good if my family knew about this behaviour?
If the answer to any of these questions is “NO” then don’t do it. On other occasions, you should seek advice or consult the Ethics Officers when you hear phrases such as the following when faced with unethical behaviour:
– ‘Nobody’s going to find out’
– ‘It doesn’t matter how we do it as long as it gets done’
– ‘It’s not right but everybody does it’
– ‘Don’t worry, we do things that way here’
– ‘Do what you want, but I don’t want to know anything about it’

5 How to act in the event of a Code violation

We are all responsible for ensuring compliance with Grupo Precisgal’s ethical standards. If you see questionable behaviour or believe there may be a violation of our Code of Conduct, you must report it immediately. This gives the company the opportunity to address the problem and if possible solve it before it escalates into a bigger problem.
You can report in the way that is most appropriate for you depending on the situation:
-Inform your manager or immediate supervisor.
-Inform the Ethics Officers:
Organisation and Resources Director
Human Resources Manager
-Report through the Ethics Line available on the Group’s website or through the intranet (see contacts section).

Anonymity and confidentiality

By reporting a possible violation through the Ethics Line you can remain anonymous. However, if you identify yourself, Grupo Precisgal undertakes to keep your complaint confidential. Grupo Precisgal must investigate the reported facts and respond to all allegations.

Ethics Officers

The Ethics Officers are the people in Grupo Precisgal in charge of guaranteeing impartiality and objectivity in any ethical dilemma presented to them. Any alerts will be treated confidentially to determine whether the Code of Conduct has been violated and to take appropriate action.

Anti-retaliation policy

When reporting a situation where you believe the Code of Conduct is not being followed, you are expected to cooperate and answer questions honestly. Grupo Precisgal will guarantee confidentiality and non-retaliation. The Group values employee collaboration in identifying and solving problems. Raising a concern or participating in a process regarding a violation will not jeopardise the employment, professional status, compensation or development of the Group’s professionals.

Grupo Precisgal false accusations must protect anyone who raises a concern in an honest manner, i.e. by accurately reporting a fact of concern, regardless of whether or not it is ultimately determined to be a violation of the Code. However, intentionally making a false accusation, knowingly lying to those responsible or refusing to cooperate with an ongoing investigation is a violation of the Code that may result in disciplinary action.

6 Our principles

6.1 Our People

We guarantee the fundamental rights of workers and respect for professionals.
We promote the professional and personal development of our employees.
We provide a safe and healthy working environment.
We promote the responsible use of the Group’s assets.
We guarantee the privacy and confidentiality of our professionals’personal information.
No person shall be subjected to discrimination on the basis of race, physical disability, illness, religion, sexual orientation, political opinion, age, nationality or gender.
Any form of physical, sexual, psychological or verbal harassment or abuse, as well as any other conduct that could create an intimidating, offensive or hostile work environment, will be immediately monitored and prohibited.

6.2 Our Business

We guarantee the quality and safety of our products and services.
We guarantee the accuracy and integrity of the Group’s records.
We comply with anti-bribery, anti-corruption and anti-money laundering measures.
We guarantee ethical behaviour in our relations with customers, suppliers and collaborators.
We respect competition laws.
We protect information and intellectual property.

6.3 Our Environment

We behave ethically in our dealings with institutions.
We are environmentally responsible.
We have a strong commitment to our community.
We protect our corporate identity and reputation and defend our Group’s interests.