To achieve long-term success and controlled growth, we rely on a healthy mix of risk between the operating units, without neglecting ecological and social aspects.
We publish our consolidated financial statements in our Annual Report of the Marquard & Bahls Group. By additionally publishing economic indicators in accordance with GRI requirements in Marquard & Bahls’ annually Sustainability Report, we present a comprehensive picture of our contribution to the sustainability of a larger economic system. We pay taxes, create jobs, and invest in the local infrastructure in Hamburg and many other places around the world.
One of the greatest challenges as we pursue our strategy of controlled, long-term growth is to limit the manifold financial, operational and HSSE risks. That is why we work based on a permanent and thorough risk management scheme that individually rates all risks and defines tailor-made mandates, tasks, and responsibilities. To further ensure a healthy mix of risk, all risks – including social and environmental ones – are evaluated in the context of the entire group of companies. Responsibility for risk management is assigned at divisional level. The principal risks that may affect future business performance include:
- Currency fluctuation
- Another international financial crisis flare-up and/or sustained economic downturn
- Political conflict in oil-producing countries and the resultant tensions on the oil markets
- Rising prices for natural resources and purchased energy
- Environmental and natural disasters as well as effects of the climate change
- Higher risks in countries we are active in
- Unreasonably stricter environmental laws
- Global pandemic, such as the global outbreak of COVID-19
Bomin's trading risks are hedged by the systematic use of financial instruments such as derivatives and forward transactions. Bomin protects itself against bad debt through credit insurance, banking securities, and the settlement of commodity futures transactions via segregated brokerage accounts.
Supplier & Customer Relations
We treat our suppliers with respect, maintain an honest relationship with everyone involved in the business processes, and strive to establish long-term cooperative partnerships. For us, this means not only acting responsibly on our own premises, but along the entire supply chain.
At our sites we also place great importance on safe working procedures for employees from sub-contractors.