Based on the insights gained as a result of past economic and financial crises and their effects on the voestalpine Group, additional steps— primarily of a corporate nature—were taken in recent years to minimize the Group’s risk exposure; both the past year and the coming years, respectively, saw and will see consistent implementation and enhancement of these measures. In particular, these measures are aimed at
- Minimizing the negative effects that a recessionary economic trend would have on the company by means of relevant planning precautions (“scenario planning”);
- Maintaining high product quality along with concurrent continual efficiency gains and ongoing cost optimization;
- Having sufficient financial liquidity available even in the event of constricted financial markets; as well as
- Securing in-house expertise even more efficiently than before with a view to continuing the long-term expansion of the Group’s quality and technology leadership.
Given the ongoing difficulties in the economic environment, as before a working group is tasked with continually monitoring and analyzing any fallout from the Brexit decision. Consequences arising from (punitive) tariffs and global trade war conflicts are subject to continuous monitoring as well.
Specific measures to hedge the risks previously identified within the voestalpine Group have been developed and implemented. These measures are aimed at reducing potential losses and/or minimizing the likelihood of losses occurring. It can be stated that, from today’s perspective, the risks of the voestalpine Group are limited and manageable and that they do not threaten the continuation of the Group as a going concern. There is no indication that the company’s continued existence as a going concern in the future is at risk.