Gearbulk Integrated Report 2023 - Report - Page 4
GEARBULK
ABOUT
OUR REPORT
Building upon the foundation laid in our inaugural Integrated Report
of 2022, Gearbulk continues its commitment to transparently
communicate the value generated through our global operations.
Recognising the paramount importance of stakeholder engagement in our business, we have diligently adhered to the Integrated
Reporting Framework, elucidating how value has been created and
sustained. This sequential report not only delves into the corrective
measures undertaken to address areas of value erosion but also
reinforces our dedication to meeting the information needs of a
diverse range of stakeholders beyond 昀椀nancial capital providers.
Your trust and feedback remain instrumental as we strive for continuous improvement and heightened accountability.
Boundary and scope
Preparation of the report
This report provides strategic information for our
This report is prepared by management of the
stakeholders about how Gearbulk plans to create
Company, and the process is overseen by the Chief
and sustain value in the short, medium and long
Execeutive O昀케cer (CEO) and Chairman of the board.
term. Additionally, it addresses risks and opportunities identi昀椀ed by management and further
Materiality
outcomes arising from how we do business across
This report includes information that we consider
material segments of our business. The period
to be material to our stakeholders and to our busi-
covered by this report is 1st January 2023 – 31st
ness. The process used to identify the material
December 2023 (the Group 昀椀nancial year-end).
topics is de昀椀ned on page six of this report.
This report contains both 昀椀nancial and non-昀椀nancial information about our material, wholly owned
Outlook
subsidiaries across eight locations; it excludes infor-
We use this report to inform our stakeholders of
mation from our terminal business. The report
what challenges the business can face, in addi-
further includes information from our joint ventures
tion to uncertainties which could be encountered
where we have signi昀椀cant operational control and
against our strategy and the potential impacts
follows our approach on how we report our 昀椀nancial
these might have on our business model. The
and non-昀椀nancial information. This report excludes
assumptions and estimates contained in this
information reported by our joint operations and
report are subject to changing circumstances.
where revenue is not accounted for. The report
includes a high-level summary of our material topics
derived from 昀椀nancial information in the Group
昀椀nancial statements and furthermore non-昀椀nancial
information from our Environmental Social Governance (ESG) report.
4
INTRODUCTION
