This Integrated Annual Report (“IAR”) provides information relating to Italtile’s strategy and business model, operating context, material risks and opportunities, governance, sustainability and operational performance for the period 1 July 2022 to 30 June 2023.
Over the past 54 years, the industry has evolved into one of the most innovative and competitive in the world. Hard work, determination, and courage in the face of adversity are values that are as relevant today as they were in 1969 when this business was founded.
In the year under review, the Board’s focus remained on the key sustainability pillars of our five-year strategic plan: operational excellence; leadership effectiveness and preservation of corporate culture; fashion leadership; omni-channel platform; organic growth; and energy security and transition to renewable resources.
Notwithstanding that the results for the year failed to meet our expectations, the largely solid performance should be viewed in light of the very difficult trading conditions experienced, our demanding high-performance culture and stretch targets.
Across our operations we strive to implement state-of-the-art technology to promote efficiencies, produce worldclass products, enhance customer service and reduce our impact on the planet.
Our partnership ethos, fair remuneration and steadfast company values will assist us to remain an employer of choice for the high-calibre candidates that our business demands.
We continued to invest in people, technology and capital expenditure projects across the business to deliver an unrivalled shopping experience and a one-stop solution to customers. Disappointingly, we failed to achieve our performance targets in the South African businesses, although our East African and Australian operations reported good results.
Our solid 54-year track record of trading through various turbulent periods, our leading brands, our factories’ latest technology, and our high-performance culture provide opportunities to improve our performance in the year ahead. The long-term dynamics of the housing market remain favourable, and the Board has confidence in the Group’s proven business model and experienced teams.
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