Integrity and compliance

  • Responsible business conduct

    Terme Krka d.o.o., Novo mesto, (hereinafter Terme Krka) is a company with a long history that builds its successful business story on integrity and a commitment to the highest ethical standards. Terme Krka is one of the leading tourism companies in Slovenia, therefore we are aware of our responsibility and, at the same time, our opportunity to co-create a responsible business environment. We conduct our business prudently, and we understand and take into account long-term influences of economic activities on the whole social environment.

     

    Corporate compliance

    Our integrity is based on ethics, corporate compliance and effective risk management.

    Terme Krka's fundamental ethical principles are respect, cooperation, excellence and integrity of management.

    Corporate compliance ensures that the company and its employees adhere to all relevant regulations, international standards and guidelines, and that the company properly cooperates with regulatory authorities. Corporate compliance within the company is based on several policies and internal rules that describe in detail activities and responsibilities related to the implementation of processes in order to ensure minimum disruption to business operations and minimum risk for violation of regulations, standards, company policies and internal rules.

    The management of different corporate compliance risks is incorporated into all of  Terme Krka's business processes, it enables identification and management of factors that could endanger the achievement of strategic and business objectives of the company and the entire Terme Krka Group.

     

    Respect and cooperation

    Equal opportunities for all, respect of legal norms and an ethical approach to other people and the wider social community represent the foundations of our work.

    We are aware of the fact that partnership and trust significantly impact Terme Krka's business performance, therefore we encourage cooperation with all stakeholders based on mutual respect and consideration of different opinions, and which is focused on increasing the value of the entire Terme Krka Group. 

     

    Excellence

    We are committed to fair, comprehensive and timely provision of information about our products.

    We carefully protect all information about Terme Krka, our business partners and third parties, which come to our knowledge during our working and business operations.

    Any employee and third party personal data must be handled with care, in a transparent manner, and in accordance with personal data protection regulations.

     

    Integrity of management

    Management sets an important example with their work and management style, therefore all our executive managers are people who personify Terme Krka's key values. Their good examples encourage other employees and thus contribute to the strengthening of integrity of the entire company.

    On the level of the controlling company, Krka d.d., Novo mesto, we have established the function of a compliance officer.

    Our senior managers are responsible for raising awareness about corporate compliance and for corporate compliance in their own business units. They must ensure that all employees are informed about all regulations, guidelines and standards, and that they comply with them. In their work, employees are regularly educated and trained, and they are familiar with the consequences of inappropriate conduct.

     

    Corporate integrity

    At Terme Krka, we follow the principle of zero tolerance against any form of fraud, abuse and unfair market practices. The Chief Compliance Officer monitors consistent observance of rules and manages an effective system for raising awareness and handling inappropriate conduct.

    Our basic principle is that all decisions are made in the best interest of Terme Krka, therefore we should avoid situations where these could be perceived as if they were made primarily on the basis of our personal interests and not the interests of Terme Krka.

    We build our relationships with other sectors following strict ethical standards, regulations and guidelines that are always taken into account in our operations.

    We respect regulations governing competition protection, and do not, in any way, prevent, limit or distort competition.

    Risks for non-compliant conduct, arising from business relations, are mitigated by regular verification of our customers, suppliers and other business partners. In this manner, we can prevent possible harm to Krka's reputation, and business losses.

     

    Social responsibility

    We practise our social responsibility by supporting different activities within the environment we live in. We participate in humanitarian activities and also take part in activities promoting advancements in the fields of science, education and culture, and which help protect our natural environment.

    We take care of the environment and respect environmental regulations, and we also cooperate with the narrower and broader local community.

     

    Awareness

    Only through consistent observance of corporate compliance can we achieve excellent work results, strengthen the satisfaction of our products' users and thus build their trust in Terme Krka.

    We look into the future with optimism and trust in Terme Krka's mission, knowledge, experience and employees. We want Terme Krka to be recognized globally as a company with a clear vision, superior quality, values and responsible corporative conduct.

     

    Terme Krka's Code of conduct

    The Code of conduct of Krka, d.d., Novo mesto, is the umbrella document for corporate compliance also for Terme Krka, d. o. o., Novo mesto.

    The Code of conduct defines the principles and rules for ethical conduct, good business practice and standards of conduct, which are binding for all employees of the Terme Krka Group. It serves as a guide and a framework for expected, responsible and ethical conduct while carrying out work, whereby our conduct and business operations must always comply with regulations, public recommendations, standards, policies and internal rules of the company, and with good business practices.

    We expect our suppliers and other business partners of Terme Krka and its subsidiaries to familiarize themselves with the Code and to adhere to it as they conclude business with Terme Krka.

    Krka’s Code of conduct, also applicable to Terme Krka

     

    The Chief Compliance Officer 

    The Chief Compliance Officer is responsible for continuous assessment of corporate compliance risks and coordination of business processes. The Chief Compliance Officer proposes and establishes an efficient internal control system and takes care of raising awareness, training and consulting about enhancing business integrity. The Chief Compliance Officer addresses reports on inappropriate conduct and violations of applicable regulations, internal rules and ethical principles. The Chief Compliance Officer is also responsible for reporting to company management about corporate compliance at Terme Krka.

     

    Reporting inappropriate conduct

    Any Terme Krka employee and third party can report a suspected fraud.

    If a Terme Krka employee detects any act indicating suspected fraud, they must inform their superior. If the nature of suspected fraud or its circumstances do not permit this, they must inform the Head of Legal Affairs, the Head of Risk Management and Corporate Compliance, or the Chief Compliance Officer. Suspected fraud can be reported anonymously. The e-mail address for reporting suspected fraud is compliance.officer@krka.biz

    If the informer does not wish to stay anonymous, they can report the suspected fraud by telephone. They may call the following persons: 

    • Chief Compliance Officer at +386 7 331 78 18,
    • Head of Legal Affairs at +386 7 331 95 95,
    • Head of Risk Management and Corporate Compliance at +386 7 331 93 93.

     

    Terme Krka undertakes to treat the informer's data confidentially, professionally and with due care, and to protect the informer properly against any retaliatory measures.

    Rules on Fraud Prevention, Detection and Investigation

     

    Transparency and reporting 

    We are committed to comprehensive and transparent reporting on the company’s operations as well as providing complete, honest, timely and relevant information to the owner, regulatory bodies, analysts and the general public.

    Our reports are designed on the basis of statutory requirements, standards and norms.