This integrated report comprises the business review and financial reporting of the Schaffner Group as well as the corporate governance report, which includes the compensation report.

The information on the financial position, results of operations and cash flows of the Schaffner Group is based on the requirements of the International Financial Reporting Standards (IFRS) and, where applicable, Swiss law.

In this publication the Schaffner Group reports to its stakeholder groups on its economic performance and corporate social responsibility. The scope and content of the sustainability reporting is based on the current report of the Schaffner Group in its capacity as an active member of the UN Global Compact.

The Schaffner Group Annual Report is also available in German.

Only the German version islegally binding.

Parts of the reporting of the Schaffner Group are audited by third parties. Auditors Ernst & Young AG have audited the consolidated and parent company financial statements and issued an unqualified audit opinion.

Schaffner employee Gou Tao at final assembly at the Schaffner plant in Shanghai with an auxiliary transformer intended for use in a locomotive for cargo transportation in China.