Sustainable Development Goal

Thermador Groupe selected 10 sustainable development goals (SDG) amongst the 17 defined by the UN.

These objectives are part of our value chain presenting our strategy and our commitment as an economic player. The assessment of the environmental and social impact concerns all companies in the consolidation scope based in France and in Belgium.

To illustrate Thermador Groupe’s commitment, the United Nations sustainable development goals have been included in our extra-financial performance indicators.


Employees enjoying good health and wellbeing are more implicated in the company and will contribute to its competitiveness. Reducing psycho-social risks, muscularskeletal troubles and other risks linked to health at work also contribute to that. These values are important to our group.


Our directors and managers are constantly attentive to their teams’ feedback to improve working conditions. Most of the offices in our subsidiaries are now equipped with acoustic ceilings. We are looking to combine the advantages of open offices, which promote good communication between people, and of controlled sound levels so that everybody can concentrate on their work. A large proportion of our office-based sales staff offices, where they take telephone calls from our customers, are also equipped with acoustic partitions.
On a permanent basis, each warehouse manager is accredited to take immediate decisions to guarantee the safety of teams working in the warehouse. In our profession, it is undoubtedly here that we run the greatest risks of accidents. We pay particular attention to the strict respect of instructions, to flooring quality to limit noise, vibration and dust, to cleanliness, to the condition of fork lift trucks, and to lighting levels inside the warehouses. This results in practical decisions such as:
• choosing LED technology lighting in 6 warehouses representing 59% of warehouse space,
• the decision to own all our handling equipment, which is regularly maintained to ensure safe driving for our logistics people,
• handling equipment with lifting platforms selected to allow our warehousemen/order-preparers to access high picking racks in total safely,
• equipping our elevated handling equipment with cameras,
• training all our logistics teams in safe driving and gestures and postures.
With the publication of 6 new arduous working risk factors on July 1, 2016, we have conducted arduous working studies covering each logistics team task. Repetitive movements have been analysed internally by our teams, using the services in certain cases of the medical services’ ergonomics expert. In 2020, we undertook the launch of a new form of postural training for our logistics teams.
We also started equipping our storekeepers with ergoskeletal equipment to combat musculoskeletal disorders (MSDs). In 2020, Sferaco ordered 4 models, 2 for shoulder support (for order picking) and 2 for back support (for receptions).

E-PARCOURS & prevention pathway
A tailor-made programme has been devised with the SQUARECHAMPS team in order to meet the challenges of prevention but also of employees’ Quality of Life at Work. After the audit carried out in 9 of our subsidiaries by sports scientist Anaël Aubry, an e-conference will be led by Charles Pagès. The course will come to an end during the first half of 2021, marked by the return of the two speakers.


Number of days’ absence6,6155,0193,842
% of working time4.0%3.8%3.1%
Of which sick leave73%69%80%
Of which maternity or paternity leave14%16%10%
Of which work related accident or illness12%14%10%
Absenteeism rate (1)3.9%4.0%3.2%
Number of work-related accidents161615
Number of work-related illnesses300
Accident frequency rate (2)13.6617.1317.22
Seriousness of accidentss (3)0.350.770.45

(1) number of days’ absence in working days / 251 x overall headcount: the calculation includes absence for illness, including work-related illness, work-related and travel-related accidents, maternity and paternity leave.
(2) number of lost time injuries x 1,000,000 / Number of hours worked.
(3) number of days lost through work-related accidents or illnesses x 1,000 / number of hours worked.
L.T.I. = lost time injury and W.R.I. = work related illness


Absenteeism in the group’s subsidiaries is much lower than the national average. This undoubtedly reflects the good health and excellent motivation of those working there.
In 2020, we injected data from our new subsidiaries, including Ets Edouard Rousseau. This subsidiary, which represented 14.2% of our workforce at 31/12/2020, accounted for 16.7% of the group’s days of absence in 2020, 26% of which on maternity/paternity leave.
In 2020, for an equivalent number of accidents as in 2019, we saw a sharp increase in the number of days’ absence due to an increase in sick leave not related to the health crisis. It should be noted that 12 of our subsidiaries ended the year without any workplace accidents in 2020, compared to 7 in 2019.
We registered 3 work-related illnesses amongst logistics staff. The figures need to be interpreted according to length of service within these teams. 20% of our logistics employees have been with us for more than 25 years. We manage long careers, meaning we have to continually review our working methods in order to relieve the strain on order preparation and reception operators.


In each of our subsidiaries our employees have the use of a fully-equipped kitchen, meaning they can bring in their lunches and eat according to their various diets. A canteen is also available at a reasonable distance. The employer’s contribution is €3.56 per meal. Collective catering allows us to avoid food waste as the service is shared by several companies in the Saint-Quentin-Fallavier business park. Food waste is processed by the collective catering provider.

PBtub’s Panier Bio direct: Organic and direct from the producer, home delivered. This is the proposal made to PBtub and Axelair employees for two years now.


In 2017 each subsidiary took the initiative to submit a questionnaire entitled ‘Employee survey on the quality of life at work’. They obviously bought into this new form of expression, given that the response rate was 94%! The exercise was carried out by an inter-subsidiary steering committee and a specialised agency (Optim Resources) and guarantees the anonymity of participants.
In total transparency, the results of the employee survey were presented at a general meeting in our subsidiaries. Workgroups were set up to tackle the progress points raised during the survey and to draw up an action plan per subsidiary.
Our subsidiaries FGinox and Sodeco Valves also carried out employee surveys in 2018.
We are planning to repeat this exercise in 2020 and 2021 so as to measure the impact of decisions taken.

In response to employee requests, the subsidiaries have introduced more initiatives to allow them to wind down during breaks: relaxation rooms, table football, table tennis, boule strips, qi gong, Pilates, body balance and yoga, picnic areas, the loan of sun loungers, etc.
Our subsidiary Jetly has a sports hall open to all Saint-Quentin-Fallavier subsidiaries.
Our subsidiaries abound with initiatives throughout the year, helping to liven up the company. This was notably the case of our subsidiary Axelair, which organised a ‘Quality of Life at Work Week’.

In the wake of the unusual experience of lockdown, and to onboard new arrivals, Axelair put Quality of Life at Work in the spotlight for a week, from July 20 to 24. It featured a week of activities promoting conviviality, and living and working together.
This was an opportunity to share the 2020 strategy and Axelair’s extra-financial performance document (EFPD). On the programme, one theme per day: Positive attitude, Wellbeing / Meditation & relaxation, Environment / Sustainable development, Nutrition & balance, Care. The employees really loved it, and are already asking for weeks like this more often.


In 2020, we were planning to organise a mont Ventoux cycle tour, but Covid-19 put a stop to that team outing. The employees of our subsidiary Sodeco were in serious training for the event, and so on September 25, they organised a 50km tour with 1,000m positive elevation as an alternative to the climb up mont Ventoux.


* Including 17 departures linked to the sale of Sodeco Sedin, the merger of the Valfit Groupe with Sferaco and the acquisition of the Vortice France business by Axelair. The adjusted departure rate for these exceptional departures is 9.8%.* Including 17 departures linked to the sale of Sodeco Sedin, the merger of the Valfit Groupe with Sferaco and the acquisition of the Vortice France business by Axelair. The adjusted departure rate for these exceptional departures is 9.8%.* Including 17 departures linked to the sale of Sodeco Sedin, the merger of the Valfit Groupe with Sferaco and the acquisition of the Vortice France business by Axelair. The adjusted departure rate for these exceptional departures is 9.8%.* Including 17 departures linked to the sale of Sodeco Sedin, the merger of the Valfit Groupe with Sferaco and the acquisition of the Vortice France business by Axelair. The adjusted departure rate for these exceptional departures is 9.8%.* Including 17 departures linked to the sale of Sodeco Sedin, the merger of the Valfit Groupe with Sferaco and the acquisition of the Vortice France business by Axelair. The adjusted departure rate for these exceptional departures is 9.8%.* Including 17 departures linked to the sale of Sodeco Sedin, the merger of the Valfit Groupe with Sferaco and the acquisition of the Vortice France business by Axelair. The adjusted departure rate for these exceptional departures is 9.8%.* Including 17 departures linked to the sale of Sodeco Sedin, the merger of the Valfit Groupe with Sferaco and the acquisition of the Vortice France business by Axelair. The adjusted departure rate for these exceptional departures is 9.8%.
Number of hires on permanent work contracts56 7380
Number of hires on fixed term contracts261321
Including recruits over 50295
Number of departures655964*
Of which, retirement623
Of which, resignations222727
Of which, redundancies151326
Of which, end of fixed term contracts18178
Recruitment rate12.3%17.1%21.2%
Departure rate9.7%11.7%13.4%
Rotation rate11.0%14.4%17.3%
Average length of service9.768.888.85
Job creation252246
* Including 17 departures linked to the sale of Sodeco Sedin, the merger of the Valfit Groupe with Sferaco and the acquisition of the Vortice France business by Axelair. The adjusted departure rate for these exceptional departures is 9.8%.

Our group offers stability because it favours permanent employment contracts. Our employee turnover rate remained low at 9.7% in 2020.

The rotation rate is defined as the average of recruitment and departure rates:
• Recruitment rate = total number of recruits divided by total headcount;
• Departure rate = total number of employee departures divided by total headcount.

* Including 17 departures linked to the sale of Sodeco Sedin, the merger of the Valfit Groupe with Sferaco and the acquisition of the Vortice France business by Axelair. The adjusted departure rate for these exceptional departures is 9.8%.


They are invited to respect working times and not go beyond them. For those who are paid by the day, we check that they do not exceed the working time authorised by law and that they do not misuse remote connections.
Implementation of the day-worker allowance through company agreements in ten of our subsidiaries meets our employees’ expectations on flexibility of working hours.
Our office-based teams comply with the working patterns of their customers who contact them during office hours by telephone, fax and email for advice, deadlines, price proposals, equipment choices, after-sales service and orders. Our logistics team starts very early in the morning to prepare the early pickups for our transport partners.
Working hours vary from 35 hours per week at Ets E. Rousseau to 40 hours at Sodeco. Elsewhere, our Saint-Quentin-Fallavier based subsidiaries work 37 hours, Brignais 37.5 hours, Valence and Vierzon 39 hours. Under the 35-hour working week law, 2-4 hours per week are paid as overtime.

The number of overtime hours worked in 2020 in the group was 43,321 hours, accounted for primarily by the 2 or 4 extra hours mentioned above. Overtime represented 3.7% of total hours worked.
All part-time positions in the company are chosen by employees who opt for that format.
Following our Quality of Life at Work survey, employees expressed a desire for more flexibility in their working hours, in some cases with recourse to home-working. The Covid-19 crisis led us to propose home-working. Company agreements and home-working charters are currently being drawn up to be able to offer this flexibility to our employees who wish to work in this way.


Fundamental training and continuous training allow people to adapt more quickly to the world they live in and to company changes and operations; the company is the first to benefit from the practical use of knowledge, know-how and behaviour. Thus, promoting training to upskill the company’s employees is a key factor of long-term success (adaptation, competitiveness, efficacy, etc.).


Training budget as a percentage of wage bill74,64251,90256,411
Hours’ training6.4%5.6%6.5%
Number of people trained1,7351,2591,345

The training budget does not include the cost of time spent (salaries + charges) on internal training.
In 2020, we kept up our training drive and took advantage of a quieter business period to train our teams, of which 60% are non-managers. As a reminder, in 2019, we had trained all the management committees of our subsidiaries, i.e. more than 90 people for a total of 360 hours of training.


Seminars for the sales team, training for local managers, personal development courses, language training, safety training… we regularly call on outside agencies to maintain and develop the levels of our teams.
As in 2019, we made Ecole de la Bourse online training available to all of our employees under the heading ‘The secrets of smart investment in shares’.


We have a huge pool of knowledge internally about our professions, which is passed on by our experts to new arrivals. This is done via chalk-and-talk, practical work, accompaniment, and bespoke written formats.

Inter-subsidiary training sessions are also held, particularly for teams working in export.

Finally, Jetly, Sferaco and Thermador have developed training modules for customers in dedicated training rooms, and are officially recognised as a training organisation.


The annual review is a precious moment of exchange to identify expectations in terms of training and upskilling. 84% of employees were able to spend time with their direct supervisor during an annual assessment. This generally takes place during the first quarter.

We do not require managers to fill in standard forms or follow a standard format. We allow them manage their teams according to their preferred practices, and note that some have favoured a permanent dialogue rather than a formal annual review. In addition, and in accordance with the law, all employees have had a professional interview over the last two years.


Our subsidiaries pay particular attention when taking new employees on board. Each employee follows an induction programme allowing him/her to discover all the services provided by the company he/she is joining.

The programme lasts several weeks. In order to better understand what really goes on in the field, our office-based salespeople and buyers sometimes accompany our travelling sales reps to our customers’ premises. In the same way, travelling and office-based salespeople spend a few days with our logistics team preparing customer orders. This process allows each person to understand the constraints faced by other departments in the company to enhance efficiency and mutual respect.

In our subsidiaries we also welcomed 25 sandwich course students and 7 trainees during 2020. This allowed our team to play a role in the training of these young people in a caring, professional environment.


The company is a very important venue for social mixing. Equal treatment has a positive impact at every level of the company, developing each individual’s potential and doing away with awkward situations. Gender equality also benefits men by allowing them to be more involved in family life and by combating stereotypes. Also, companies investing in equality have more success, are more efficient organisationally, and report better productivity.


At the time of recruitment or during salary reviews, only skill, experience, interpersonal relations, efficiency, creative capacity, discernment, sense of synthesis and commitment are taken into account. On the basis of these criteria, and irrespective of sex, ethnic origin or any other discriminating criteria, employees of Thermador Groupe or its subsidiaries receive similar fixed salaries for directly comparable positions within each company.
Also, the vast majority of them can check, given that a salary transparency policy has been in place in all our subsidiaries since Thermador was founded in 1968. This virtuous practice means that each decision-maker thinks carefully before any recruitment or salary increase. Of the companies having joined us recently, Mecafer adopted the same practice at the beginning of 2018. Taking the necessary time to convince managers and employees of its advantages, we fully intend to progressively introduce it at Sodeco, FGinox, Ets Edouard Rousseau, Distrilabo and Thermacome.
Since the outset, power has been fairly divided between men and women: women occupy 45% of seats on the Board and 34% of management positions in the subsidiaries, and accounted for 35.7% of the audience in the auditorium during the ‘challenges and projects’ meeting attended by 112 people on February 4, 2020.
Our three Board committees are chaired by three women, Karine Gaudin (audit committee), Laurence Paganini (earnings committee) and Mathilde Yagoubi (sustainable development committee).


As part of the September 5, 2018 law on the ‘Freedom to choose your career’, and in compliance with the decree of January 8, 2019 seeking to erase earnings differentials between men and women, Thermador Groupe and its subsidiaries have calculated their professional equality.
This index, out of 100 points, is calculated on the basis of five indicators:
1 - The earnings differential between men and women.
2 - The individual pay increase rate differential between men and women.
3 - The promotion rate differential between men and women.
4 - The portion of employees having benefited from an increase within the year of returning from maternity leave.
5 - The number of employees of the under-represented gender amongst the ten employees having received the highest salaries.

ScoreScore Maximum
Indicator 1 – Earnings discrepancy3740
Indicator 2 – Pay rise discrepancy2020
Indicator 3 – Promotion discrepancy1515
Indicator 4 – Return from maternity leave increase1515
Indicator 5 – Under-represented gender amongst higher salaries010

The score of 37/40 obtained on the earnings discrepancy between women and men for compatible socio-professional categories and age group reflects our earnings policies based on skills and not gender.
We got the maximum score on wage increase and promotion gaps: in 2020, 75.6% of women and 75.2% of men in the Thermador Groupe received an increase and 2% of employees, men and women combined, were promoted.
The inclusion of the index on wage increases upon a return from maternity leave in our pay policy since 2019 also got us the maximum 15 points on this indicator.
We scored 0 out of 10 for having only one woman among Thermador Groupe’s 10 highest earners, which remains an area for progress. Out of the 20 biggest earners however, there are 6 women.


Earnings and individual bonuses are calculated at subsidiary level as are salaries. Information and good-practice sharing between subsidiary managers allow us to ensure overall coherence.


Optimising water consumption and waste-water reduces costs and risks for the company.
Treating and recycling waste-water avoids certain taxes and can reduce the amount of water used.

As a distributor specialising in fluid circulation, Thermador Groupe, via its subsidiaries, has developed products that sanitise water and make it useable.
Thermador, Sferaco and Sectoriel offer product ranges to treat hot water. Jetly sells rainwater recovery systems as well as solutions for waste water sanitation and treatment.
As well as its existing ranges, Jetly launched an innovative autonomous sanitation device in 2018 based on lombrifiltration technology which uses earthworms to purify organically polluted wastewater.
The Bioturbat solution was presented at several shows in 2019, and was very positively received by non-collective sanitation specialists. It is being used in pilot facilities and proving very satisfactory both for public works companies for installation and for users whose operations are looked after by Jetly.
So as to make the most of its vast roof area, when the Jetly building was built in 2008, it was equipped with a rainwater recovery system.
In 2019, Jetly repaired the rainwater recovery pumping system.

Four of our buildings are ICPE classified facilities for environmental protection. These facilities use drinking water and account for 34.5% of our overall consumption. The 34.5% share increased in 2020 following the initial filling of the sprinkler tanks in the new Dipra building, accounting for 23.7% of our consumption. The new regulations allow us to test water quality. If water quality is satisfactory, there is no need to renew the water in the tanks, enabling us to save water in 2020.
Many of our buildings are equipped with water softeners to improve the quality of water used on our equipment.

Set-up of Globus (rainwater recovery tank) on a plot of land for a detached house.

The new Dipra building is also equipped with a rainwater recovery system.


Thermador Groupe, through its subsidiaries, sells products allowing the use of renewable energies, such as solar.

Thermador sells thermal solar panels and hot domestic water solar panels. The panels, when hooked up to a hot water tank, provide solutions both for production of domestic hot water and water preheating for heating circuits.


In 2018, Thermador Groupe signed a contract for electricity ‘of certified renewable origin’ (Green Energy) for three years. Nine of our subsidiaries use that contract which provides for 65% of our electricity consumption.
Thus, some of the electricity produced from the renewable energy sources that are part of EDF’s production capacity were injected into the electricity grid by EDF for nine subsidiaries.
In 2020, we launched a call for tenders for our energy consumption (gas and electricity). The aim was twofold:
- to include all our sites in a certified renewable-energy contract (Green Energy),
- to implement carbon compensation for our natural gas consumption.
Our objectives have been achieved under a new contract with ENI that will apply in 2021.


SCI Thely now includes the installation of photovoltaic panels in its building specs as well as a requirement for sites to be self-sufficient thanks to solar energy. This requires additional investments for construction, written down over 10 years.
In 2020, an initial energy audit was performed for our subsidiary Sferaco, with two objectives: to enable Sferaco to comply with the audit obligation and to identify optimisation solutions. The audit is compulsory for companies with a turnover exceeding €50 million or whose workforce exceeds 250 employees.
Following this audit, we launched a study for Sferaco’s building for the installation of photovoltaic panels. A number of load constraints are involved here, particularly in terms of the resistance of the frames already installed, which we will analyse.
The Stratos 4S solar panel is a compact, high-efficiency domestic hot water system that operates without electricity. Protected from overheating by an ingenious automatic shut-off system, it is also equipped with high-performance insulation, allowing it to be installed in areas with temperatures as low as -20°C. The Stratos 4S solar panel can supply 100% of domestic hot water needs in summer, more than 70% in mid-season and a significant contribution in winter when coupled with another energy source.


In force since October 1, 2019, the tertiary decree supplements the ELAN (Government home improvement and digitalisation scheme) law of November 23, 2018. This new decree requires companies to make energy savings in tertiary buildings of over 1,000 m².

The spirit of the law is to encourage collaboration between landlords and tenants and to jointly implement energy saving actions.

The timetable to be respected is as follows:

The size of our property portfolio requires us to apply this decree. In 2020, we chose a service provider to support us in this process. A first objective will be to communicate consumption data for all the buildings we own. Following the submission of our data, an annual digital certificate incorporating an ‘Eco Energie Tertiaire’ rating system will be generated. This rating will enable us to express our approach to reducing consumption in relation to objectives set.

This tertiary decree is seen within Thermador Groupe as an opportunity to engage in a joint approach between the owner, SCI Thely, and the operational subsidiaries renting the buildings.


Our staff are at the heart of our value chain. On December 31, 2020 the group had 668 employees, 230 women and 438 men.
Of those 668 employees, 650 were on permanent contracts and 18 on fixed term contracts. 603 work in France and 65 outside France.


General management, sales, administrative and purchasing2242644651
Itinerant sales staff8127135108100
Sedentary technical sales
Administrative personnel6325885148
Warehouses staff22144166127125

W. = Women and M. = Men

* Excluding Ets E. Rousseau, Rousseau SA and Distrilabo

20-29 y.o.885556
30-39 y.o.158147151
40-49 y.o.224160150
Over 50 years198141119

* Excluding Ets E. Rousseau, Rousseau SA and Distrilabo

Supervisory staff1648643439

* Excluding Ets E. Rousseau, Rousseau SA and Distrilabo


The use of temps is normally limited to the replacement of people who are off sick or on maternity leave and according to the needs of seasonal activity peaks.


We regularly employ ESAT* personnel for simple assembly or packaging work.
Maintenance of the green spaces of all our sites in Saint-Quentin-Fallavier (Isère) is performed by a re-insertion centre (ESAT in Villefontaine, Isère).

7 of our subsidiaries employ disabled workers.
In 2020 Jetly signed an agreement with an association, Messidor, managing establishments for sheltered employment in the Auvergne-Rhône-Alpes region, which works to rehabilitate people facing physical disability. Through the association, Jetly has employed two disabled workers for packaging of small spare parts. This experience resulted in the recruitment of a disabled worker on a permanent contract on January 1, 2020. A fabulous collective success!
This partnership mission not only allowed the company to find stability, efficiency and savings, but the workers to achieve reintegration through employment in an environment propitious to their personal fulfilment.
This collaboration has existed for more than 5 years.
As part of this long-standing partnership, Messidor has made a film about the association and the return to employment of the people it cares for. It was screened during the ‘Matinales du MEDEF’ sessions to promote the employability of people with psychological disabilities.
Jean-François Bonnefond, Raphaël Loprieno, Thierry Piccerelle and Anthony Cano were interviewed in the film which was broadcast on October 8, 2020 at MEDEF LYON RHONE’s disability session.

Direction générale, commerciale, administrative et achat2242644651
Commerciaux itinérants8127135108100
Technico-commerciaux sédentaires8472156124114
Personnel administratif6325885148
Personnel d’entrepôt22144166127125

* Work rehabilitation scheme for the disabled.


Sixteen of our subsidiaries employ over eleven people, and three of them employ over fifty. Of these subsidiaries, ten have a social and economic committee.
Within each subsidiary, a monthly information and dialogue meeting takes place bringing together all personnel.
The management team presents and comments on the current situation: turnover, margin, costs and results, and answers employees’ questions. If turnover is down, sales people are called in; if there is stock-out, the purchasing department is questioned; if costs increase, we look for and analyse the reasons why; if profits are down, everyone will be thinking about their end-of-year bonuses…
In the bigger subsidiaries, departmental meetings are also held to allow people to have their say. Experience tells us that it is difficult for some people to express themselves in big groups. The role of managers and supervisors is crucial in this respect, in ensuring that questions and remarks are brought to the surface to provide collective answers.
Our flat organisation charts promote good circulation of information.
The key is dialogue and transparency.
In April 2016, the Annual General Meeting appointed an employee to the Board upon a suggestion from the Board of Directors.
From being just 178 employees on a single site in 2004, Thermador Groupe now employs almost 670 people dotted around 10 sites. This new scale implies using new internal communications tools.
Our collaborative platform THERMALINK has been live since September 2019 for all Saint-Quentin-Fallavier employees and for FGinox, Mecafer/Domac, Sodeco and Ets Edouard Rousseau. The employee directory offers new functionalities such as contact details and photo updating and employee search functions. This collaborative platform is a real corporate social network allowing us to communicate, and share documents and best practices.

Salaries and profit sharing


In January 2001, we set up a Company savings scheme (PEE), open to all employees of the subsidiaries and 95% invested in Thermador Groupe shares.
Until 2012 the top-up was 100% of the amount put in by the employee, with a cap of €1,000.
The maximum contribution then changed year-on-year.
In 2020, the contribution was 300% for the first €300 invested, 150% for the
€301-1,000 tranche, and 30% for the €1001-1500 tranche, i.e. a maximum of €2,100. The total amount contributed by the employees was €2,057k and the amount of the employer’s contribution was €794k. 453 employees (out of 566) subscribed to a 1% capital increase reserved for them. Taking advantage of the possibilities provided by the PACTE law, employees benefited from a 40% discount on the purchase of shares in exchange for 10-year holding commitment.
At December 31, 2020, the Company savings scheme (PEE) held 322,000 shares, i.e. 3.5% of the capital.



In the group’s longstanding subsidiaries, the fixed component of earnings is paid over 13 months (the extra month paid half in June and the other half in November). Salaries are revised annually, taking into account each individual’s development in their function and the cost of living. We pay particular attention to the lower salaries, which are much higher than average for our sector.
At FGinox and Sodeco Valves, the fixed component of earnings is paid over 12 months.


Since the beginning, Thermador Groupe subsidiaries’ profits have been shared with employees. Even before statutory profit sharing, we introduced our own brand of profit sharing in Thermador, the first company created in the group’s history. This virtuous practice spread to the other subsidiaries subsequently.
Sharing profits come with the results of the year’s work, during which the management teams present the operating accounts of each subsidiary on a monthly basis.
Everybody can understand how the annual result is put together, and what mass of profit sharing will be distributed.
The distribution of that mass is decided by the management team, and takes into account each individual’s performance as fairly as possible.
In each subsidiary, the variable profit sharing amount therefore depends on profit, which means there are major differences between the companies of the group. It varies from 1 to 33% of overall earnings. The average for the group is 18% of gross annual salary.
For Jetly, Sferaco and FGinox, i.e. 179 employees, the annual bonus and profit sharing are paid in February of the following year.
For the other subsidiaries, bonuses appear on the December pay slip. They are not subject to any conditions, and are therefore immediately available.
On our trading accounts, the wage bill represents around 11.7% of turnover (see table, page 112).
We have always been very transparent on the subject of salaries. In each subsidiary, once a year, we post up all the monthly and annual salaries, including those, of course, of managers. This has the great advantage of limiting the spread of rumours, and means that we all have to show great coherence in decision-making in this area. We are striving to share this good practice with the companies that we have acquired since 2015, whilst leaving them time to prepare for this new practice.
The range of gross salaries in Thermador Groupe is between €21,000 to €311,500 per year (12 months’ presence) with an average annual salary of €50,300.
For equivalent positions, men and women with the same training and similar experience earn the same amount.


Production and forms of consumption are the bread and butter of our companies. Their role is central to achieving this objective. Whatever their activities, they progressively need to face up to dwindling resources and a degraded environment. This phenomenon exposes producers and users of these materials to risks of shortages and cost volatility, as well as constraints in terms of environmental compensation or repair. We need to prepare for these risks and get involved in new forms of production and consumption.

Reducing the use of materials and energy and cutting back on waste production generates savings for purchasing but also in waste treatment.


Thermador started with very limited resources. Careful spending is a virtuous legacy of those early days. This can be seen in the decisions taken by management but also, and more importantly, the responsible behaviour of everybody in the group.
Since our teams are working in small-sized companies, each employee engages personally with it: waste means higher expenses and lower profits. So, we are careful to turn out lights when we leave the office, close windows when the heating is on, re-use paper and use heat (and air conditioning) sparingly.
We install movement detectors and light thresholds to turn electric lighting on and off automatically. And again, to consume less electricity, our IT system uses 159 virtual servers.


Our subsidiaries’ main business is distribution. Some of them assemble or customise products. These activities do not cause pollution.
Our buildings, the vast majority of which we own, are built in strict compliance with regulations. Before any construction, all the necessary diagnostics are carried out: soil survey, demolition in case of presence of asbestos.


Our waste is considered as non-hazardous waste (NHW). We pay particular attention to the design of our packaging. We entrust this to companies specialising in the recycling of our waste, which is primarily cardboard, paper and wood.
Following a waste audit carried out at Sectoriel, seeking to increase the proportion of waste recycled and raise awareness, it was decided that waste sorting would now be carried out at source.
Each department, from the warehouse to the motorisation workshop and including the offices, sorts its waste by category, and for each type there is a dedicated skip and processing circuit.
In 2018, an audit of existing service providers led to the selection of a new one according to criteria on the traceability of waste treatment and 100% recycling of our waste. One of our subsidiaries already switched to this new service provider for processing in 2018. Two of our reference service providers for waste treatment are ISO 14001 certified. The aim is to recycle all our waste.
We re-use packaging, either as-is or re-used for chocking products for shipment, after grinding. This has three attributes: less waste, savings on shipment and reduction of plastic packaging.
The materials returned by our customers are sent to factories or entrusted to local scrap dealers who sort brass, copper, aluminium and ferrous metals.
Our IT waste (servers and PCs), as well as old office furniture, is sold on to specialist contractors who reprocess it, or given to charities such as Emmaüs or shelters for the homeless.


Our Thermavert cross-functional group proposes ways of processing our everyday waste (paper, bottles, food waste, etc.). In 2020, we launched selective sorting for glass and plastic waste at our Saint-Quentin-Fallavier sites (Isère). This action complements the paper sorting carried out in each of our subsidiaries. We installed two receptacles over a six-month period with the aim of assessing volumes. For their part, our subsidiaries have organised the sorting of paper, pens, batteries and ink cartridges.

Philippe Arthaud (Jetly) took the initiative to deliver two containers to the Thermador car park to sort glass and plastic waste. These receptacles, taken over by Jetly, are being made available to the subsidiaries for a period of six months with the aim of assessing volumes. They are exclusively reserved for the subsidiaries and not for the personal use of employees. Each company can collect glass and plastic waste in the bins and transfer it to Thermador. In six months’ time, the environment group will assess the value of this approach and will keep all employees informed of what happens next.


From sourcing to after-sales, our subsidiaries pay particular attention to product lifecycle in their catalogues. The reflection starts as of the design phase – with the help of our suppliers – for the development of repairable products or products that can be recycled. As an example, our subsidiary Axelair highlights its ranges of ducts containing polyester wadding insulation made from recycled plastic bottles (PE+/100% recycling). Many of their products contain recyclable materials, such as high-density polyethylene CMV conduits, which also do not require solvents to glue the layers together. To ensure the reparability of our products, the number of spare parts stocked by our subsidiaries increased sharply, leading to a new way of thinking about the storage of these references which are smaller in size and have lower stock turnover than our usual products. We use mechanised towers to optimise the storage area used and also to reduce the time warehouse staff spend moving around.
We also work closely with our suppliers to provide exploded views of products to quickly identify faulty parts and to be able to propose a replacement solution. This data is all computerised and made available to our customers via our websites.
Finally, after-sales and repair departments have been supplemented and modernised, in particular with the opening up of an e-after-sales website at Mecafer, a doubling of positions in Dipra’s workshop and an increase in surface area dedicated to repair workshops in our warehouses.


Some of our subsidiaries sell products that preserve natural resources: rainwater recovery systems, accessories for heat pumps, solar systems, wood or calorie-count boilers, low-electricity-consumption class A pumps, hydraulic balancing valves for perfect distribution of hot and cold in office buildings, connected water meters, taps equipped with water savers and dual-flow ventilation systems.
Thermador markets hot water production tanks specially designed for operation with air-to-water heat pumps. This solution, patented by our partner Cordivari®, optimises the use of the heat pump while providing maximum energy savings and instant user comfort compared to conventional solutions.

Jetly markets a range of Esybox line pumps that provide comfort and water savings thanks to variable speed motor technology. These pumps, designed and manufactured by DAB® are intended for domestic and residential use. The Esybox incorporates all current intelligent technologies for overpressure: self-priming pump, control and protection of the motor by variable speed drive, simple installation and configuration. Thanks to speed variation, an Esybox booster can achieve energy savings of between 30% and 50% over one year of operation.
All this reflects the acceleration in the development of eco-responsible products in the product ranges distributed by our subsidiaries. We meet user demand and work on the transformation of our markets with lower footprint products.


Conscious of the greenhouse gas emissions generated by our activities, energy usage and transport, we have been working on assessing our carbon footprint.

In 2017, we were chosen from amongst 30 SMEs and mid-tier firms worldwide to be accompanied in the transition to the low carbon economy. A firm of specialised consultants in low-carbon project management helped us in counting and assessing our greenhouse gas emissions. We placed governance of the climate topic at the very top of the organisation chart of our company. This approach allowed us to draw up our five-year greenhouse gas reduction plan through to 2022.

The main carbon challenge for Thermador Group is the environmental performance of the product itself. The second challenge is transport and therefore the choice of service providers. The question of energy consumed on the site is a secondary one, but could be the subject of very targeted energy efficiency campaigns.

We continued this work in 2019 with our greenhouse gas emission audit. This audit concerns all companies in the consolidation scope. We measured direct emissions linked to our business corresponding to scopes 1 and 2 of the regulations. Direct greenhouse gas emissions resulting from primary energy combustion on-site were estimated at 453 tonnes equivalent C02 in 2019.

Restructuring work begun in 2019 on energy efficiency in the Syveco / Isocel building are designed to reduce such emissions. At the same time, efforts continue in the field of good practices shared by the Thermavert group: switching off lights, PCs and printers and in the evening and at weekends, and closing shutters to limit energy loss from buildings.

Direct fugitive emissions
Quantity emitted into the atmosphere in 2020Emission factorEmissions in equivalent
tonnes of CO2
R410a8.5 kg1,924 kgCO2e
per kg of fluid

Indirect emissions linked to electricity consumption
Electricity consumption
in 2020 (kWh)
Emission factorEmissions in equivalent
tonnes of CO2
2,397,6680.0599 kgCO2e / kWh
in France
0.4200 kgCO2e / kWh
in Europe

Direct emissions from fixed combustion sources
FuelQuantity consumed in 2020Emission factorEmissions in equivalent tonnes of CO2
Natural gas2,724,642 kWh PCS
and 2,454,632 kWh PCI
0.204 kgCO2e / kWh PCI (combustion)501
fuel oil
8,469 liters2.68 kgCO2e / liter (combustion)22.7

Direct emissions from mobile thermal engine sources in 2020
Number of kmEmission factorEmissions factor
2,829,2650,151 kgCO2e / vehicle km


Our itinerant sales people do not have company fuel cards. When they use their vehicles for business travel, they are reimbursed according to a scale. It is in their interests to drive economically. When they rent vehicles, they are limited to small models that consume less fuel. Also, we ask all group employees to live within 50 km of Head Office.
Inter-subsidiary travel for those based in Saint-Quentin-Fallavier is performed most often on foot or on electric bicycles. Three of our subsidiaries have video conferencing systems to reduce travel.
Our company canteen is less than one kilometre from our subsidiaries based in Saint-Quentin-Fallavier. It is managed by a single service provider.
For the past 5 years, our subsidiaries have been involved in an annual regional challenge designed to promote all alternatives to private cars (cycling, walking, public transport, car sharing, etc.) and encourage virtuous behaviour. Eleven of our subsidiaries have taken part in this challenge with a participation rate above 80%.
Through our subsidiaries, those employees who so wish can recharge their electric vehicle at a modest cost using green energy (non-nuclear).
As part of the work of the Thermavert group, we worked with the CAPI (Communauté d’Agglomération Porte d’Isère) to draw up a mobility plan. Our employees answered a questionnaire to list the actions that could be implemented to reduce the carbon footprint of home-to-work trips. Possible solutions included the development of car-sharing, greater use of public transport and home-working. All these options will be studied in order to offer our employees suitable solutions.


Our goods are primarily transported by road and by sea. Our highly concentrated logistics organisation allows our haulier partners to optimise pick-ups from our premises.
This means extremely low shipment costs for our customers comparatively within our profession.
Upstream, again, our volumes and stocks are sufficiently large to optimise merchandise transport. Fuel consumption per product is kept as low as possible.



Seven of our transport partners have signed up to the ADEME’s (environmental protection agency) voluntary commitment charter and its CO2 objectives. The signatory partners account for 89% of the tonnage shipped. Firstly, they all completed a CO2 audit and then defined an action plan to reduce their emissions. Each year they send a report on their actions to the ADEME.
This commitment is valid for a period of three years. Ten of our partners have ISO 14001 certification and represent 78% of tonnage shipped.



As a company, we are directly or indirectly concerned by biodiversity through our economic activities.


Five of our sites: PBtub, Sectoriel, Jetly, Dipra and Sferaco have performed environmental APIE studies (Association Porte de l’Isère Environnement). We have decided to apply all APIE’s recommendations to promote biodiversity in the environment surrounding buildings occupied by our subsidiaries. This represents 32,800 m² of green space on Saint-Quentin-Fallavier sites. 206 species have been inventoried.
Recent projects: passage reserved for small fauna through fences, the planting of hedges serving as a refuge for numerous species, the planting of fruit trees, a field of flowers and herbs, the removal of invasive species, the installation of a birds’ nest and an insect hotel.
At Sectoriel, two hives appeared on the roof of the building in April 2017. Green spaces have been planted with a focus on local species, nectar plants and a small orchard.

At the logistics depot in Corbas in early July, the team noticed a swarm of bees under a loading bay, and set out to find someone who could gather them in without the risk of killing them. On the advice of a specialist in ‘disinsectisation’, FGinox contacted an beekeeper enthusiast, who arrived on site in less than ten minutes and was able to recover them without difficulty. They were placed in quarantine, in order to detect possible diseases and allow the Queen to lay again. Once the quarantine is over, the bees will be given to local beekeepers. Protect our precious bees! Do the right thing for the environment!
Sectoriel rents sheep from Ouessant for green space upkeep. This action has both an ecological objective, to favour eco-grazing over thermal shearing, and a social one, as it has been shown that the presence of animals in the workplace brings relaxation.
A Dipra employee has also followed a training course entitled ‘Reconciliation of biodiversity and economic working areas’. This training course enabled participants think more deeply about the Dipra building’s green spaces and gave rise to a biological pond project.
After ecological developments on our various sites, we noted the presence of more than ten wild orchid plants in May and June on the Thermador, Jetly, Pbtub and Syveco sites. The flowers of this species are protected and rare (photo: the ophrys bee).


Peace and rule of law, framed by rules and effective justice creates a favourable context for public and private economic actors by providing the right framework for fair competition, the ability to innovate, be entrepreneurial and develop business. The elimination of corruption improves a company’s image and its room for manoeuvre to support economic development and contribute to achieving sustainable development objectives.


Since the group subsidiaries chosen for the scope are in France and Belgium, respecting French and Belgian regulations is sufficient to ensure the promotion and respect of fundamental international labour organisation provisions (ban on child labour, freedom of association, elimination of forced labour, etc.).


Our code of good conduct has been translated into five languages. The code was presented to each subsidiary at general meetings. The staff representative bodies were also consulted in our subsidiaries as to the adoption of the code. Our subsidiaries have made reference to the code of conduct in their in house rules. Our customer and supplier partners have been informed of the existence of this code of conduct and have been asked to respect it in our business dealings with them.


In 2020, we continued to implement our anti-corruption measures.
Our group has a gifts and invitations policy and a donations and sponsorship policy. We have completed a risk-mapping exercise covering all our activities. This will be presented to our audit committee in July 2021 and to our Statutory Auditors.
The review of accounting entries was carried out by an external firm using a digital tool. This enabled us to identify the most sensitive accounts and the types of entries upon which our analysis should focus.
The training of our exposed employees was one of the main topics in 2019. In 2020, we selected a digital platform that allows us to put online our questionnaire processed accoring to the Middlenext anti-corruption working group. This tool is intended for our non-exposed employees.
As for disciplinary sanctions, they were established in the context of alerts communicated to us when necessary. Our ethics committee met twice during the year to discuss the handling of alerts which have been fully escalated through the hierarchical chain of command.


In keeping with our policy of transparency, each employee of Thermador Groupe or its subsidiaries, whatever their level of responsibility, has occasional or permanent access to classified information. Consequently, all employees have signed a stock market charter detailing their duty of confidentiality and the conditions governing Thermador Groupe share sales and purchases, in line with European ‘market abuse regulations’. The charter is also presented in the form of a graph to make it easier to understand.


This regulation, in force since May 2018, governs the processing of data from citizens of all European Union countries. All organisations must now ensure optimal protection of data at all times, be able to show it by documenting their conformity and explain their reasons for collecting and keeping personal data.
So as to respect this rule in our group, several actions have been introduced. Adeline Porcher has been appointed DPO (Data Protection Officer). The group has also commissioned an audit from an outside agency which mapped our personal data processing activities, and has written records of processing activities to be adapted to each subsidiary.
In 2019, the work of formalising our processing registers, reviewing our terms of sale and drafting the data policy was done. The deployment of this processing register and subcontractor compliance verification continued in 2020.


The directors of the group are responsible for relationships with our suppliers. Our way of working can be summarised in a few simple principles:

  • We work with a medium or long term vision.
  • We are transparent with our suppliers, and tell them clearly what we expect of them.
  • Price is not the only criterion of supplier selection.
  • We pay close attention to their long-term existence, the quality of the products and services they propose, their transparency, commercial policies and reactivity.

We visit production sites ourselves which allows us to check that our suppliers’ employees are well treated.


Our buildings are constructed according to the standards and recommendations laid down by DREAL (regional environment and housing agency). All the necessary pre-demolition soil and material analyses are performed prior to new construction for our subsidiaries.

We employ 450 people living for the most part in the Auvergne-Rhône-Alpes region. Our buildings are regularly maintained and have a very attractive appearance. With the local authorities and local neighbourhoods, we maintain cordial and constructive relationships. We very regularly work with local companies: transport, architecture, masonry, public works, finishing works, IT, canteen, health insurance, worker reintegration centre (ESAT).


The managers and their teams are active in the professional unions present in our fields of activity. We are thus present in six unions: INOHA, ADFRI, COCHEBAT, FNAS and IFEP (Industriels Français de l’Eau de Pluie).
We would particularly like to highlight the involvement of PBtub and Thermacome. Our two subsidiaries are active members of COCHEBAT, respectively as treasurer and chairman.
COCHEBAT is a national federation bringing together most of the players in the field of low-temperature radiant surfaces and hot and cold water distribution. The union’s primary concern is to enhance product and solution quality deliver an excellent level of comfort, consume little energy, preserve air quality and free up living space. The union also contributes to product life cycle and carbon impact analysis by making Environment and Health Product Declarations (FDES) available.


Actions initiated by our subsidiaries
In 2020, group subsidiary donations totalled €39,000. Each subsidiary is free to choose its own donation policy.
A donations and sponsorship policy has been drawn up at Thermador Groupe level. Some of our subsidiaries have drawn inspiration from it.

Thermador has applied this policy by distributing its donations according to three criteria: developing countries, medical research and training. Four associations chosen by the employees have been supported by Thermador. This list is reviewed every year, which allows employees to be fully involved.
Sferaco also has its employees on board. They are invited to pass on the name of an association in which they would like their company to participate. The only obligation set by the management is that the employee must have some involvement in the chosen association, either through voluntary work or donations.
The management gives the floor to a member of one of the chosen associations once or twice per year at one of the monthly general meetings to talk about it.
Sectoriel has selected three associations around two causes: the homeless and cancer research.
Beyond financial donations, our teams are committed to solidarity operations, under the impetus of Jetly’s marketing team: Eric Garot, Pierre Palmero and Victoire Lacome-Rigobert, all the Thermador Groupe subsidiaries in Saint-Quentin-Fallavier helped with collections for ‘Restos du Cœur’ in the week of December 7th. 600 kg of products were collected.
We would like to thank the ‘Restos du Cœur’ centre in Villefontaine and all the employees who took part.

Social action initiated with the Apprentis d’Auteuil
Social action has been initiated at group level with the Apprentis d’Auteuil, a national association recognised as being of public utility which, among other things, enables young people facing hardship to build a real project for the future by offering them several support solutions and training to facilitate their socio-professional integration.
However, the proposals for action drawn up with the association and listed in the DEU 2019 (see page 74) could not be carried out because of the health crisis.
But we donated the end-of-year bonus from Air France (for 2019 travel) to the Lycée Professionnel Jean-Marie Vianney at la Côte-Saint-André (38260) to help the school fund a project to reduce its carbon footprint.
The school has chosen to use the donation of around €4,300 to buy an electric scooter to make it easier for young people to get around.
In addition, several Saint-Quentin-Fallavier subsidiaries have paid their apprenticeship tax to this same high school.


Experience has shown us, even very recently, that our employees are strongly attached to their region of residence. As our priority is to ensure their loyalty, we respect their regional roots. Thus, of the group’s 668 employees, 603 live in France, 39 in Belgium, 3 in the Netherlands, 1 in Germany, 1 in Hungary, 12 in Spain and 9 in China. In France, our physical locations are in Saint-Quentin-Fallavier, Valence, Vierzon, Etigny, Saint-Maur-des-Fossés, Bischheim and Saint-James. This diversity is the result of our recent acquisitions, which were very often made possible by our commitment to respect employees’ attachment to their region of origin. In 2020, our companies created 24 new positions in France.