Risks

Within the context of its business operations, Barco is exposed to a wide variety of risks that can affect its ability to achieve its objectives and to execute its strategy successfully. To anticipate, identify, prioritize, manage and monitor the risks that impact its organization, we put a sound risk management and control system into place, which is actively supported by the Board of directors.

2022: main risks

Every year in the fourth quarter, Barco performs a company-wide risk assessment and compliance gap analysis. In 2022, that led to a slight reclassification and renaming of certain risks, leading to the following overview.

	Risk	Material topics	Strategic levers
1	Innovation, new technologies & product portfolio	Innovation management Market reach Product stewardship Customer engagement	Innovate for impact Capture profitable/efficient growth
2	Supply chain & nth party risk	Responsible supply chain management Sustained profitable growth Product quality, safety and security	Capture profitable/efficient growth Go for sustainable impact
3	Human capital & talent management	Employee engagement Learning and development Employee health, safety and wellbeing Diversity and inclusion	Capture profitable/efficient growth Go for sustainable impact
4	Product quality	Product quality, safety and security Customer engagement Brand	Innovate for impact Capture profitable/efficient growth
5	Macroeconomic & geopolitics risk	Market reach	Capture profitable/efficient growth
6	Information security risk	Information security and data protection Product quality, safety and security	Innovate for impact Go for sustainable impact

Risk management process

Risk management is firmly embedded into our processes, at all levels. For every key management, assurance and supporting process, Barco has a systematic risk management approach that consists of five steps: identification, analysis, evaluation, response and monitoring.