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ANNUAL REPORT AND CONSOLIDATED ACCOUNTS 2013
Risk management is part of the company’s culture and
operates across the organization, is present in all pro-
cesses and is the responsibility of all managers and em-
ployees at every level of the organization.
Risk management is carried out with the aim of creat-
ing value by managing and controlling uncertainties and
threats that could affect Group companies from a busi-
ness continuity perspective, while taking advantage of
business opportunities.
In the context of strategic planning, the risks to the port-
folio of existing businesses, the development of new
businesses and the implementation of the most impor-
tant projects are identified and assessed; and strategies
to manage those risks are defined.
At operational level the management risks affecting the
objectives of each business are identified and assessed,
and actions are planned to manage those risks. These
actions are included and monitored through the plans
of the individual businesses and functional units.
To ensure that the established procedures are followed,
the Group’s main internal control systems are evaluated
periodically.
Internal control and the monitoring of internal control
systems are the responsibility of the Executive Commit-
tee. Given the nature of the business, certain areas of
risk require special attention:
– Food quality and hygiene
– Health and safety at work
– Financial
– Environmental
Given the sharp drop in consumption in recent years
and the uncertainty over the future development of
the Spanish and Portuguese economies, we anticipate
a slow recovery of the food service sector and of the
Group’s sales. To mitigate the impact on its results, the
company has implemented rigorous cost control, with
monthly monitoring of market trends and subsequent
reviews of resource planning.
Operating as it does in the food service business, the
company is also subject to the risk of epidemics, dis-
ruptions in raw materials markets and changes in con-
sumption patterns, which can have a material impact on
the financial statements.
Risks and uncertainties
