The Group recognized goodwill in the course of its international expansion. The application of IAS 36, i.e. the implementation of impairment tests, may require goodwill to be written down for impairment.

The Group’s insurance strategy provides two alternatives. Risks with a high probability of occurrence and low loss amount are insured via a captive – an insurance company belonging to the Group. This is designed to allow us to lower our insurance costs. Risks with a low probability of occurrence but that could entail high losses, such as air transportation risks, are handled by external insurance companies.

As a service provider, we do not conduct research and development in the narrower sense. There are therefore no material risks to report in this area.

The volume of our operating activities is linked at a general level to the state of the economy in individual countries and to their trade relations. We do not consider the Group as a whole to be exposed to any significant macroeconomic risks at present. In the past fiscal year, there were no identifiable risks for the Group that, individually or collectively, could have significantly affected the continued existence of the company. Nor are there any such risks apparent in the foreseeable future.