With its risk management system, Bilfinger Berger promotes awareness of risks at all management levels and among all employees. The system is an integral component of the management processes and helps to avoid risks wherever possible, or at least to identify risks at an early stage and to avert any resulting dangers for the Bilfinger Berger Group. We have therefore taken thorough precautions to ensure that the Group achieves its goals.
Risk management at Bilfinger Berger is a continuous and decentralized process,which is monitored and controlled from headquarters. The elements of the system are strategic business planning combined with a detailed and up-to-date reporting system that serves as an internal earlywarning and monitoring system.
Each year, the Group sets new targets for the performance measures EBITA and return-on-capital- employed controlling, as well as liquidity targets and limits, for all the units and subsidiaries of the Group. These and other key figures are monitored with the use of monthly reporting. The actual situation and the targets set are analyzed at all operational levels. With the use of marginal values and deviation parameters, relevant risks are identified and monitored, and their effects are limited by taking suitable measures. This provides the Executive Board and management with detailed information on the current financial situation.
In consultation with the Executive Board, the Group Functions perform a specialist monitoring function throughout the Group. They have wideranging rights to request and receive information, to issue guidelines, and to be actively involved with their specialist colleagues at the subsidiaries.
Headquarters are also responsible for controlling tasks of overriding importance. The corporate functions of Group Controlling, Project Controlling, Internal Auditing and Legal Affairs report regularly and comprehensively on possible risks from their respective specialist perspectives directly to the Executive Board. In addition, the Executive Board submits a quarterly risk report to the Audit Committee of the Supervisory Board.