Catom Annual Report 2023 EN

Research During the financial year no work was done in the area of research and development that was included in the balance sheet. Financial risk recognition, risk appetite and risk control In the performance of its business activities, Catom is exposed to various types of opera tional and non-operational financial risks. The risk appetite is limited, with mitigating measures in place. The risk appetite is periodically assessed by the Executive Board and management, and if necessary adjusted; actual indicators play a significant role. This section describes the main financial risks. The chances are categorised as very unlikely, unlikely, possible, likely and very likely. The impact is categorised as minimal, moderate, serious, substantial and very substantial. Credit risks One of the main risks is the bad-debt risk related to customers. The level of this risk is largely determined by the prices of motor

fuels and the related indirect taxes and tariffs, combined with the applied payment periods. This risk is mitigated as much as possible by means of a strict debtor policy. The chances of a credit risk occurring are very likely. The impact on the results and/or the financial position is moderate. maintaining its sound financial position. Thanks to a sound balance sheet structure and more than ample credit facility, Catom has plenty of capacity to absorb liquidity risks and sufficient access to credit on an ongoing basis. The chances of cash flow or financing risks occurring is unlikely. The impact on the results and/or financial position is very substantial. Currency risks Catom’s functional currency is the euro. In the wholesale department, a different functional currency, the US dollar, is used for part of the purchasing of motor fuels. Currency risks arising from these dollar Liquidity and financing risks Catom’s financing policy is aimed at

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