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CONTENTS

Letter to the Stakeholders

SEA

INFINITE HORIZONS

10

Our identity

12

Group structure

12

Highlights 2015

14

Trends in the cruise industry

16

Organizational structure

18

ECONOMIC PERFORMANCE AND INVESTMENTS

20

Added Value

20

Expansion of the fleet

21

RESPONSIBILITY AND SUSTAINABLE VALUE CREATION

22

Our principles and values

24

Governance system

25

Compliance when doing business

26

Managing risks and internal auditing

27

INTEGRATION OF SUSTAINABILITY INTO THE BUSINESS

29

Dialogue with stakeholders

31

Material issues and sustainability actions

32

OUR COURSE TOWARDS SUSTAINABLE DEVELOPMENT

34

TRAVELING AND OPERATING IN SAFETY

36

Shipboard safety

36

Shoreside security

37

Accident prevention

39

CARING FOR THE ENVIRONMENT, NATURALLY

40

Our approach to mitigating environmental impact

42

Energy efficiency and carbon footprint

46

Protection of water resources

51

Wastewater management

54

Biodiversity and protection of ecosystems

56

Giglio Island: site remediation and environment restoration

60