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Risk Management

Systematic process intended to identify and assess potential risks in a company at an early stage, introducing necessary preventive measures where appropriate.

Risk management at HAMBORNER

In order to limit its risk exposure, HAMBORNER has implemented a risk management system for the timely identification and management of risks that could be of significance to the economic position of the company in accordance with section 91(2) and 3 AktG. Adjustments and amendments are made to reflect changing circumstances. Opportunities that arise are not taken into account in this risk management system. The early risk detection system is examined by the auditor as part of the audit of the annual financial statements in accordance with section 317(4) HGB. Risk management operates independently in organisational terms. The company’s internal risk management system is integrated into operational procedures – particularly the planning and controlling processes – and comprises several stages. This is described in more detail in a company policy. The risk inventory is of central importance in this context. Based on business operations and the activities they entail, the risk inventory tracks the potential risks to which the company is exposed. These potential risks are divided into the following categories:

  • Strategic risks
  • Operational risks
  • Compliance risks
  • Financial risks

The potential risks are identified, assessed and monitored in conjunction with the quarterly risk reporting to the Management Board and Supervisory Board. The potential risks in individual risk categories are assessed by the competent departments in terms of the possible extent of loss (e.g. reduced income, higher expenses) and an assessment of their probability of occurrence. The basis for risk reporting is the respective approved planning.