Our strategy builds on our strengths and focuses the Group on scalable businesses in attractive markets, and on the development of our three core capabilities.
We serve markets that are growing and where we have room to grow, and where our customers value our differentiated products and services.
To support our efforts in bringing together the parts of our strategy and to achieve our environmental, social and governance (ESG) goals we have three execution priorities.
Big positive difference - making sure we govern our business the right way, looking after the environment, looking after our people and operating to high ethical standards. This priority supports our focus on living and breathing our commitments on inclusion, treating people fairly, reducing waste, managing our water consumption, and reducing emissions.
In 2022, we have made a 'big positive difference' by serving our communities, and by driving inclusion and diversity. Our goal is to have a positive impact on the communities we serve, from supporting job creation and skills advancement to reducing energy and water consumption at our plants.
Delight the customer - following on from our foundational work on sales effectiveness, we are working to shape our product and service offerings further based on customer needs, with the overall objective of making our business more customer-centric.
To ‘delight the customer’ we are following on from our foundational work on sales effectiveness, working to shape our product and service offerings further based on customer needs, with the overall objective of making our business more customer-centric.
Innovate to grow - many of our customers have an increasing need to reduce their energy consumption and CO2e emissions, these customers need our help. This priority supports our focus on working with the customer to innovate in traditional heavy industries whilst also contributing to greener technologies for the future.
With more than 400 scientists and engineers across the Group, our people are busy developing new materials and applications. Our deep expertise in carbon and ceramics is maintained and strengthened through our ongoing process of research and development, an area that we invest approximately £30 million in each year.
These execution priorities are helping us to deliver our strategy.
We want to accelerate our growth, by winning in our core markets and increasing our exposure to four faster growing market segments: clean energy, clean transportation, semiconductors and healthcare
We have been focusing our product development and business development efforts in these markets over the last several years to develop new and differentiated products that solve complex problems for our customers.
During 2022, organic constant-currency revenue growth in these segments was 11.7%, which represented 19.6% of our revenue overall.