Principles of financial resources management

The Group pursues an active policy of management of financial resources. The organisational structure of the financial pisions of the Group companies is closely tailored to the specifics of each company. The Group carries out a strategy of continuous improvement of the financing structure. The Group cooperates with several Polish banks but is also in talks with other financial institutions in order to optimise the costs of financing.

Due to the nature and size of the Group  liquidity monitoring for a period of three weeks ahead is carried out on an ongoing basis in the form of a report.

The Group companies use debt interest without delay, both in terms of repayment of principal and interest. Impexmetal S.A. conducts continuous monitoring of overdue receivables in respect of the whole Group. This is important due to the fact that the customers of the Group companies are often the same customers, which may result in the accumulation of receivables overdue at the Group level - measurement of risk by customer.

Companies continuously monitor the turnover of working capital and seek to reduce the payment period of receivables and simultaneously extend the repayment period of obligations. Unfortunately, this process is not easy to carry out especially in regard to critical raw materials suppliers. Companies pursue an active policy of financial risk management and volatility management in commodity prices. Most of the companies in the Group introduced a risk management policy approved by the Supervisory Board. Company Policy governs the rules of the application of safeguards reflected in the physical side of trade activity conducted. Impexmetal S.A. monitors the number and size of open positions within the Group on a weekly basis, both in the currency market and the metals market, and makes a monthly valuation of these items.