Risk and opportunity management.

Our environment is characterized by rapid technological progress, increasingly intense competition, and far-reaching regulatory decisions in mobile and fixed-network communications. We master these challenges by systematically managing risks and opportunities using a holistic risk early warning system.

Our Group-wide risk management system covers all strategic and organizational control and monitoring measures for managing risks, focusing on early identification and assessment of risks and opportunities. Only in this way are we able to introduce measures for preventing and responding to risks at an early stage.

We regularly analyze risks and opportunities, both in our operating segments and in our central Group units. The early warning systems used for identifying risks at an early stage are based on prescribed Group-wide methods and are tailored to specific requirements. Risks are identified in the form of scenarios, for example, and assessed on the basis of their size and probability of occurrence. The reference variables for the potential scope are our target values (e.g., EBITDA).