Engineering
Engineering
Engineering
Create successful ePaper yourself
Turn your PDF publications into a flip-book with our unique Google optimized e-Paper software.
2.7 Management report on the Group Expected developments and and associated opportunities and and risks risks<br />
We continue to consider the risks to to the<br />
the Group Group contained and and manageable.<br />
Plant Technology – We see good opportunities for growth in Plant Technology thanks to our mastery of<br />
complete process chains and our long experience in dealing with process-related tasks. In addition,<br />
constant innovations are strengthening our technology portfolio. One example is heat recovery and waste<br />
recycling in cement production, which allows major reductions in costs and emissions. There are good<br />
opportunities for cost-efficient and environmentally friendly plants especially in the emerging countries.<br />
Components Technology – The auto components business of our Components Technology business area<br />
can profit from drivers’ growing environmental awareness: Our components for low-emission engines and<br />
weight-optimized parts reduce vehicle CO2 emissions.<br />
Marine Systems – We see opportunities for moderate growth in our target markets for conventional<br />
submarines and surface naval vessels. Further focusing on our core products will help the business area<br />
profitably expand its remaining operations.<br />
Performance-related opportunities in costs and quality<br />
In addition to the increasing use of electronic purchasing systems, new production processes offer major<br />
performance-related opportunities, above all for gaining cost and quality advantages. In the steel area a<br />
new coating technique improves the forming behavior of galvanized sheet. Our production process for<br />
succinic acid as a feedstock for biobased plastics opens up new ways of utilizing renewable resources. In the<br />
area of marketing we are optimizing relationships with our customers and maintaining our worldwide<br />
network of branches.<br />
Risk report<br />
In the past fiscal year the Group’s standardized risk management system again played a major role in<br />
increasing the transparency of the risk situation at ThyssenKrupp and enhancing our ability to identify,<br />
evaluate and control risks. From the present perspective all risks are contained and manageable. The future<br />
existence of the Company is secured.<br />
Risk policy embedded in corporate strategy<br />
Binding throughout the Group, the risk principles at ThyssenKrupp are based on our corporate strategy. Our<br />
risk management system is targeted at safeguarding existing assets and sustainably increasing the value of<br />
the Company; it therefore fulfills a core business function. To achieve an appropriate increase in value, we<br />
make optimum use of opportunities while consciously and responsibly taking business risks in our core<br />
processes and managing these actively. As part of our efficient risk management, other risks are<br />
transferred, reduced or completely prevented. Overall the Group can extensively cover all risks taken.<br />
The Group Policy Statement on Risk Management documents the framework conditions and responsibilities<br />
for orderly and forward-looking risk management and is binding for all employees. Groupwide codes of<br />
conduct such as the Group’s compliance standards and the prohibition of speculative transactions also form<br />
part of the risk principles. Regular control measures and numerous training programs help communicate the<br />
importance of the requirements to all employees.<br />
108