Risks and risk management
BUSINESS RISKS AND THEIR MANAGEMENT
Risk management is a part of Olvi Group’s everyday management and operations. Our objective is to ensure the realisation of the strategy, as well as secure financial development and the continuity of business. Group has a risk management policy and risk management guidelines defining the policy in more detail. These are used Group-wide to define the purpose, contents, governance model and roles of risk management and provide guidelines for the practical process in accordance with an annual schedule.
The objective of risk management is to develop the organisation’s risk awareness and a proactive way of managing risks, increase opportunities and decrease threats to the achievement of business advantages, ensure a sufficient risk management operating model throughout the organisation and manage risks as an integrated part of business operations, planning and decision-making.
Business risks and uncertainties in the near term
There are uncertainties in business operations due to the Ukrainian war, the continuing corona pandemic, the availability of raw materials and packaging supplies, as well as cost increases.
Other short-term risks and uncertainties are related to development of the general economic circumstances, chainges in the competitive situation, as sell as the impacts these may have on the company’s opertations. In addition to the risks described above, there have been no significant changes on Olvi Group’s business risks. A more detailed description of the risks is provided in the Board of Director’s report and the notes to the financial statements, as well as in the Investors/Corporate Governance section of the company’s Web site.