Financial risk management
Financial risk management framework is built to address the main financial risks faced by the Group: foreign exchange, interest rate, commodity price, credit and liquidity risk.
The overall risk management programme focuses on the unpredictability of financial markets and seeks to minimise volatility and its potential adverse effects on the Group’s financial performance.
We regularly use derivative products like forwards, options and futures but these are solely used for the purpose of hedging underlying exposures to foreign currency exchange rate risk, interest rate risk and commodities’ pricing volatility. None of these financial instruments are used for trading purposes or taken as speculative positions.