To achieve long-term success and controlled growth, we rely on a healthy mix of risk between the divisions. We strive to realize the ambitious growth targets of our corporate strategy without neglecting sustainability aspects.
The divisions act independently while being strategically connected. 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. We take a decentralized approach whereby risks are broken out to the individual companies and responsibility is assigned at divisional level. The principal risks that may affect future business performance include:
For Mabanaft, the relevant trading risks are those caused by the high level of volatility in commodity prices, currency exchange rates, and interest rates. Trading risks are hedged by the systematic use of financial instruments such as derivatives and forward transactions. Mabanaft protects itself against bad debt through credit insurance, banking securities, and the settlement of commodity futures transactions via segregated brokerage accounts. Our controlling ensures that the rules laid down are adhered to.
The diversity of our company is reflected in the broad spectrum of our suppliers, ranging from vendors of technical equipment for our operational sites to office equipment suppliers. We treat our suppliers with respect, maintain an honest relationship with everyone involved in the business processes, and strive to establish a long-term cooperative partnership. For us, this means not only acting responsibly on our own premises, but along the entire supply chain.
Internal supplier lists increase transparency in the quality and performance of our business partners, with the ultimate goal of giving our customers excellent services and products. At our sites we also place great importance on safe working procedures for employees from sub-contractors. At Oiltanking, an integrated contractor management program has been in place since 2014.