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Enhancing Performance through Business Continuity Planning

With the majority of its revenues derived from sales in the Greek market, and most of its 11,000-strong workforce based in Greece, the Eurozone crisis and potential for Greece’s exit from the euro has been a discomfiting time for Greek food company Vivartia.

Consequently, the company has had to make specific plans on how to manage a possible Greek exit, and the potential impact on financing, revenues and growth. Although the risk is now less severe than the period of ‘red alert’ in May/ June 2012, Vivartia remains vigilant and conscientious in its contingency plans.

Key Points

  • This article outlines how Vivartia’s treasury has managed its contingency planning during uncertain times including a potential Greek default and secession from the euro
  • A risk management and contingency plan, the ‘Business Continuation Project’ was drawn up
  • Major risks including liquidity, credit and redenomination of the drachma were identified and the article describes how the company planned to minimise their impact on financing, revenues and growth

 

Written by

Marianna Polykrati
Group Treasurer
Vivartia

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