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Ethical Behavior

 

Amplifon is strongly committed to running its activities in full accordance with local regulatory frameworks and with the highest ethical and moral standards, thus actively working to prevent any type of unethical business practice.

Regulatory framework

 

Amplifon operates in the healthcare sector, where regulations differ from country to country and from one area of the sector to another. The key areas that are relevant to Amplifon are:

 

  • hearing aids – they are considered medical devices in all the markets where Amplifon operates and must comply with several different national and international regulations;
  • professionals entitled to select, fit and sell hearing solutions – the qualification required from the professional figures entitled to select, fit and sell hearing solutions also change from country to country;
  • reimbursement conditions - they differ according to the national health systems of the countries where Amplifon operates ranging from national health systems offering hearing aids free of charge to everyone to others offering partial to full reimbursement to people who present a certain level of hearing loss, until the absence of reimbursement.

 

 

Anti-corruption

 

Amplifon is strongly committed to carrying out fair, correct, honest and ethical business worldwide, in accordance with the laws and regulations in force in all Countries in which it operates.

 

On July 26th, 2017, Amplifon’s Board of Directors approved the Group Anti-orruption Policy, intended to ensure whether daily activities are carried out ethically, protecting value creation and those core values on which Company’s activities are founded.

 

Following its approval, the Anti-corruption Policy was formally announced in 2017 and was the subject of training sessions for each of the three regions in which all General Managers and selected key managers took part. In 2018, the Group Risk & Compliance function rolled out the program for effective implementation of the Policy within the Group.

 

 

Business ethic and fair competition

 

Amplifon is strongly committed to ensuring ethical behavior. The entire workforce is expected to uphold the high standards set out in the Company’s Code of Ethics. To this end, a coherent culture plays a central role in addressing behaviors and tackling unexpected events in a transparent and shared manner.

 

 

The internal control and risk management system

 

Risk management is an ongoing activity which, based on the initial identification and assessment of the events that could negatively impact the ability of the Company and its subsidiaries to reach targets (particularly strategic goals), includes the definition of which steps to be taken to respond to the risk, implementation and subsequent updates which take place at least once a year at a Group level. Risk management allows for better informed business decisions, reduces the gaps between actual results and objectives and, lastly, nurtures a competitive advantage.

 

 

Competitive behavior and responsible marketing

 

Responsible and reliable communication with customers is another key aspect of Amplifon’s business ethics in order to prevent any risk of non-compliance with existing legislative regulations as well as any damage to reputation. In 2017, Amplifon selected a single creative agency and media partner for all its EMEA campaigns, in order to align its marketing, advertising and communication strategies and thereby raise its brand awareness with a greater efficiency

 

 

Energy efficiency and waste management

 

Despite being a service company rather than an industrial one, Amplifon is alert to environmental issues and to the challenges posed by climate change. The Company realizes that, for any forward-looking corporate responsibility strategy to be effective, it must encompass environmental footprint assessment activities intended to ensure the utmost environmental respect. Although not having implemented specific Group policies on environmental issues, Amplifon has started a process to monitor the environmental performance of its headquarters and the network of direct shops.