Catom Annual Report 2022 EN

interest rate. The risk policy with respect to interest rate risk aims at limiting the effects of interest rate fluctuations on the result. These interest charges only include the Euribor component of the finance costs and as from this financial year Catom uses interest rate derivatives. The chances of interest risks occurring are likely. The impact on the results and/or the financial position is substantial. As a player in the downstream oil market, Catom is aware of the crucial importance of always being in compliance with legislation and regulations and ensuring safe opera tions. A key foundation for controlling the risks in this area is the company culture. Accordingly, the Executive Board and management focus on an ongoing basis on safety and quality and increasing transpa rency in terms of the timely identification, assessment and reporting of risks. Other risks, compliance with laws and regulations, safety

The risks in these areas are further mitigated by internal risk management and control systems, which are tailored to the day-to-day work environment in which Catom operates, and with considerable support being provided by an extensive system of requirements, procedures and systems in relation to quality assurance, as documented in Catom’s HSE quality manual and in accordance with ISO 14001 and VCA* (safety, health and environment) standards. Compliance with these standards is regularly audited by external specialists. In 2015 we conducted an inventory together with an external party to verify that Catom has all the required permits, is in compliance with these permits, and adheres to all legislation and regulations in the area of safety and the environment. To this end, a tool was developed containing all legislation and regulations relevant to our organisation. This tool verifies that we are informed of any changes in legislation so as to be able, if necessary, to take the

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