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Risk management

Risk management

GENERAL PRINCIPLES OF RISK MANAGEMENT OF THE GROUP

The risk management system of the Group is based on Coso ERM international system. The recording is conducted in the register of risks, which is a systematic list of risks and events. Risks are organized by 4 categories: strategic, operational, financial and legal. Risk assessment is carried out on the qualitative basis, according to the approved matrix of the impact and likelihood of risk assessment. After the qualitative assessment the risks are reflected on the Risk map, which is divided into several areas highlighted by different colors: red zone – critical risks, yellow zone – medium risks, green zone – low risks.

The risks, which prevention is under the special control of the Group, are the following:
- Implementation of major investment projects;
- Protection of the labour and safety rules;
- Technological disturbances due to deterioration of equipment;
- The timeliness of payment by consumers;
- Legal proceedings on suits of contracting parties.

None of the risks of the special control zone get close to the highest valuation, thanks to preventive measures taken by the Group.

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