Impact of the COVID-19 pandemic and the Russian-Ukrainian war on the financial exposure of Krka Group, JSC

Pandemija COVID-19 in rusko-ukrajinska vojna postavljata svetovno prebivalstvo in gospodarstvo pred nepredvidljive in predvsem težavne okoliščine, kar zahteva nenehna prilagajanja in prinaša mnoga tveganja. Zaradi vpliva obeh dogodkov na globalno dogajanje na eni in širokega obsega mednarodnega poslovanja skupine Krka, d. d., na drugi strani, je skupina še posebej izpostavljena aktualnim mednarodnim poslovnim tveganjem. Velikost sredstev in obveznosti skupine Krka d. d., v tujih valutah (predvsem ruskem rublju in ameriškem dolarju) močno vpliva na finančno izpostavljenost skupine, še posebej pri valutnem tveganju, kar je posledica izrazitega nihanja deviznih tečajev, in kreditnem tveganju. Izpostavljenost nihanju deviznega tečaja ruskega rublja v največji meri izhaja iz prodajnih aktivnosti skupineRusija namreč predstavlja največji posamični prodajni trg skupine Krka, d. d., kjer je skupina prisotna z dvema podjetjema. Razlog za izpostavljenost nihanju deviznega tečaja ameriškega dolarja je v največji meri nabava izdelkov in proizvodnega materiala na tem trgu. Skupina Krka, d. d., je upravljala izpostavljenost valutnim tveganjem z metodo naravnega ščitenja in s terminskimi pogodbami. Izpostavljenost kreditnemu tveganju je skupina upravljala z razpršitvijo terjatev med veliko število kupcev in prodajnih trgov ter z zavarovanjem terjatev pri kreditni zavarovalnici. Z metodami varovanja izpostavljenih postavk in njihovo pravočasno uveljavitvijo je skupina Krka, d. d., učinkovito obvladovala nastala mednarodna poslovna tveganja in nadzorovala finančno izpostavljenost skupine.The COVID-19 pandemic and the Russian-Ukrainian war are putting the world\u27s population and economy in front of unpredictable and above all difficult circumstances, which requires constant adaptation and brings many risks. Due to the impact of both events on the world as a whole, the global impact of both events on the one hand and the wide range of international operations of the Krka Group JSC on the other, the Group is particulalry exposed to current international business risks. Size of assets and liabilities of the Krka Group JSC in foreign currencies (manily in the Russian ruble and the US dollar) has a strong impact on the Group\u27s financial exposure, especially in terms of currency risk, which is the result of significant exchange rate fluctuations, and also credit risk. The exposure to fluctuations in the exchange rate of the Russian ruble is manly due to greatest extent from the Group\u27s sales activitiesRussia represents the largest individual sales market of the Krka Group JSC, where the Group is present with two companies. The reason for the exposure to fluctuations in the exchange rate of the US dollar is to the greatest extent the procurement of products and production materials in this market. Krka Group JSC managed currency risks exposures using the natural hedging method and futures contracts. The Group managed exposure to credit risk by spreading receivables among a large number of buyers and sales markets and by insuring receivables with a credit insurance company. With the methods of protection of exposed fields and their timely implementation, the Krka Group JSC effectively managed the resulting international business risks and controlled the Group\u27s financial exposure