SETEK Group AB Code of Conduct 

CEO’s comments 

SETEK Group is growing rapidly, and we are successively establishing a presence in new markets. This means that the way we conduct ourselves in relation to the world around us is becoming increasingly important, both as a company and as individual employees. 

SETEK Group’s core values form the basis for how all employees in the Group should act – and how we want society to perceive us as a company. Accordingly, these core values are an integral part of our Code of Conduct. 

Internal and external communication plays a central role in our core values and represent important tools in our efforts to achieve our goals. Our journey has just begun and in the future, we will become even more open and distinct in all our communication, while maintaining great respect for our business environment. 

Hans Richert, CEO SETEK Group 

The basis for SETEK’s Code of Conduct is in our core values.

Business orientation

We achieve strong financial results, with a balance between short-term and long-term earnings. We are perceived as offering value for money by the customer.


We assume responsibility for our operating environment, shared resources and the environment, and we have confidence in the knowledge and ability of our employees. Our customers associate us with high quality.


We have high professional qualification within the areas in which we operate and that results in our customers perceiving us as reliable and knowledgeable.


We seek new ideas and continuously evolve to meet the needs of existing and prospective customers. This results in our customers perceiving us as innovative.

Customer orientation

We place the customer first and satisfy our customers’ expectations, which mean that our customers understand that we have a comprehensive view.


The Code of Conduct has been adopted to emphasize the values and principles that govern the relationship with employees, customers, business partners and other stakeholders. The Group urges its suppliers, partners, consultants and other business partners to also apply these principles.

Business principles

We should act as a reliable and honest Group that lives up to its obligations. We only become involved in such business activities that conform to national laws, international conventions, signed agreements and that are in keeping with our Code of Conduct. We respect and adhere to competition rules, environmental legislation, industrial relations laws, agreements and safety requirements and other rules that govern our operations. The Group believes in long-term business relationships that allow us to work with our business partners to create a platform for strong financial results.

Counteracting corruption

No forms of corruption, bribery or theft of the Group’s assets will be tolerated. This also includes offers of payment to or from employees or external individuals and organizations.

Human rights and working conditions

We respect international conventions on human rights. SETEK Group recruits and offers employees equal opportunities and fair treatment regardless of gender, civil status, ethnic or national origin, sexual orientation, transgender identity, race, religion, political views, age or functional impairment. We strive to achieve diversity and our employees should be given the conditions necessary to maintain a high level of competence in their work. We do this by viewing competence development as a strategic issue, which requires us to constantly be one step ahead of developments. This is how we ensure our future competitiveness. We work actively to eliminate all forms of discrimination or harassment of employees. The provision of a healthy and safe work environment for all employees is a matter of course and we continuously endeavor to prevent work-related accidents and personal injury. The Group supports the UN Global Compact (see the last page) encompassing ten principles on human rights, labor-law issues, respect for the environment and counteracting corruption.

Environmental and social responsibility

SETEK endeavors to create the optimal conditions to reduce the Group’s environmental impact. All employees have a responsibility to actively participate in our environmental work to fulfil, or surpass, prevailing legislative requirements. In its operations, SETEK Group shall curtail its use of hazardous substances and ensure that the management and disposal of waste is conducted in a safe and environmentally compatible manner.

Information and communication

The fundamental purpose of information activities is to support the company’s visions, business concept and strategies. It should strengthen SETEK Group’s credibility and brand and counteract risks that could dampen confidence from our business environment. As a limited company, SETEK Group’s obligation to supply owners with relevant, reliable, correct and up-to-date information. Our information and communication are based on openness, clarity, relevance and availability and that it is active. Each manager is responsible for ensuring that their staff is well-informed about the Group’s business and about our vision, goals, strategies and core values. At the same time, all employees are personally responsible for following up and complying with the contents of the Code of Conduct.

Correct accounting and financial reporting

All financial transactions should be recorded in accordance with the Group’s accounting policies and conform to applicable laws, rules and standards. The accounting records should show all types of transactions in a correct and non-misleading manner and the external financial reporting should be reliable and comprehensive. All employees are responsible for carefully maintaining accounting records and documentation to enable the efficient running of our business.

Responsibility of managers and employees

All managers in the SETEK Group are responsible for informing and presenting the contents and spirit of this document within their organization and encouraging their employees to report conduct that is contrary to these principles. Approval of questionable actions, expressly or implicitly, will not be tolerated.

The UN Global Compact’s 10 principles

Human Rights

Principle 1: Businesses should support and respect the protection of internationally proclaimed human rights.

Principle 2: Make sure that they are not complicit in human rights abuses.


Principle 3: Businesses should uphold the freedom of association and the effective recognition of the right to collective bargaining.

Principle 4: The elimination of all forms of forced and compulsory labor.

Principle 5: The effective abolition of child labor.

Principle 6: The elimination of discrimination in respect of employment and occupation.


Principle 7: Businesses should support a precautionary approach to environmental challenges.

Principle 8: Undertake initiatives to promote greater environmental responsibility.

Principle 9: Encourage the development and diffusion of environmentally friendly technologies


Principle 10: Businesses should work against corruption in all its forms, including extortion and bribery.