Financial risks

Heinzel Group’s financial risks comprise foreign exchange, interest rate and liquidity risks. In order to reduce the latter to a minimum, the group works with banks possessing good credit ratings in both the investment and borrowing areas, and ensures sufficient access to credit lines. Foreign exchange and interest rate risks are continually monitored and either limited or mitigated by means of appropriate hedging measures. In doing so, receivables and payables are initially netted, and the remaining exposures are hedged with forward exchange and swap transactions.At present, Heinzel Group is aware of no immediate risks which could threaten the continued existence of the group.