Overall assessment of the group’s risk position

At present, we see the main risk for our business performance in the economic and regulatory environment, particularly the future general economic trend and changed conditions on the German mail market. Based on the Group’s early warning system and in the estimation of the Board of Management of the Group, in the past financial year there were no identifiable risks for the Group which, individually or collectively, cast doubt upon the Group’s ability to continue as a going concern, nor are any such risks apparent in the foreseeable future.