Annual Report and Consolidated Account
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Risk management is a part of the Group’s culture and
cuts across thewhole organization. It is present in every
process and is the responsibility of all managers and
employees at the different organizational levels.
Riskmanagement is undertakenwith the goal of creating
value throughmanagement and control of uncertainties
and threats thatmay affect the Group’s companies, from
a standpoint of operational continuity with a view to
taking advantage of business opportunities.
In the strategic planning context, risks affecting the
portfolio of existing businesses as well as the develop-
ment of new businesses and more significant projects
are identified and assessed. Strategies tomanage those
risks are then determined.
At operational level themanagement risks associated to
each business’s objectives are identified and evaluated
and actions planned to manage those risks, which are
included and monitored in the scope of the business
plans and functional units.
The group’s main internal control systems are regu-
larly evaluated to ensure conformity of the established
procedures.
Internal control and monitoring of internal control sys-
tems are conductedby the Executive Committee. Certain
risk areas are due to the specific nature of the business,
of which the following stand out:
– Quality, food hygiene and occupational safety;
– Diversification of markets;
– Financial;
– Environmental.
Because operations are in the food service sector even-
tual epidemics or distortions in raw material markets
along with consumption pattern changes can signifi-
cantly impact the financial statements.
Risks and uncertainties
