Important risks

The overarching document regulating the area of risk identification in the Budimex Group is the Policy on Control and Risk Management in the Budimex Group. It is supported by a number of instructions and procedures regulating particular aspects related to the risk identification process. The risk identification system at the Budimex Group consists of annual, semi-annual, quarterly and monthly reviews.

The following significant risks were identified in the 2021 risk review:

RiskRisk descriptionRisk management

Limitation of investments on the Polish market
The risk arises from the possible postponement or reduction of funding for infrastructure and rail investments.Expansion into new foreign markets. Diversification of activities, entering new business areas, including the renewable energy market.

Occurrence of fatal and serious accidents
The risk stems from a lack of sufficient awareness of the risks.The Budimex Group has an Action Plan on prevention of accidents. It defines a framework for activities aimed at appropriate dissemination of knowledge on health and safety at work and implementation of best practices in this area.

Expansion into new foreign markets
Difficulties in obtaining contracts in foreign markets. Difficulties in obtaining employees and local subcontractors. Search for partners in foreign markets. Cooperation with local recruitment agencies.

Climate change and environmental damage
The risk is related to the global phenomenon of climate change and the environmental impact of the Budimex Group's activities.In 2021, an analysis of climate risks was prepared. It details the context of climate change risks and their impact on the Budimex Group and the impact of the Budimex Group on climate change.

Cyber threats
The risk stems from a number of factors including aspects of employee education, IT infrastructure security and the global increase in hacking attacks.The Cyber Security Strategy is being implemented.

Loss of business continuity
Risk of unavailability of key personnel and infrastructure.Reviews and updates of plans and instructions to ensure business continuity.

About the report

This publication is another integrated annual report which presents the entire financial, social and environmental performance of the Budimex Group.

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