Annual Report of the Board of Directors

Compare to Report 2010

The Company and its related entities, as these are defined in article 42e paragraph 5 of Codified Law 2190/1920, which together form what is referred to as “the Group”, are exposed to risks and uncertainties due to the nature of their operations and their geographic exposure which could affect the normal course of business and financial performance.

The primary objective of the Group’s Board of Directors and management is to ensure, through the application of proper risk management systems, that potential risks are identified on time and dealt with appropriately.

It should be noted, nevertheless, that any risk management system and policy thereof, can only by nature of the concept of ‘risk’ itself, provide a relative and never an absolute safeguard since they are designed to limit the occurrence and minimize the impact of ‘risks’ rather than eliminate them.

The most important risks the Group faces and the policies adopted to counter them are reported below.


Financial Risks

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Strategic Risks

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Operational Risks

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