
“Tacking against the wind sometimes gets you to your destination faster than sailing with the wind.” (H. Lahm)
| A major factor for success: currency fluctuations have a significant impact on earnings and can no longer be counterbalanced by means of cost and price measures. Complex: short-term operational and long-term strategic foreign exchange positions deriving from cash flows and investments call for different types of analysis and a differentiated management approach. Company-specific: different organisational structures, company cultures and attitudes to risk call for individual solutions.
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