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RISK FACTORS
5
RISKS RELATED TO IT SYSTEMS
In addition, excess cash flow and asset sale clauses, the conditions of
application for which are assessed based on the consolidated scope
of the HDL Development Group, of which Assystem is a part, on an
annual basis (subject to reinvestment capacities concerning asset sales),
are such as to activate an obligation of early repayment of the loan that
HDL Development obtained as part of a contract concluded with a set of
banks on 16 December 2013. If the conditions of application of these
clauses were to be fulfilled, which is not the case for the year 2015, at
the Company’s General Shareholders’ Meeting HDL Development might
have to propose distribution of a dividend per share sufficient to enable
it to honour its repayment obligations, with the dividends attributable
to it. It is specified that the excess cash flow and asset sales referred
to by the corresponding clauses would necessarily be generated or
carried out by Assystem, insofar that HDL Development does not have
any direct or indirect operating activity separate from that of Asssytem,
and does not hold any significant assets other than Assystem shares.
5.4
EMPLOYEE-RELATED RISKS
Type
Impact
Risk reduction measures
Risk that the Group’s
available skills do not
match client and market
requirements.
Negative impact
on the Group’s image
and revenue.
The Group devotes considerable efforts in terms of management time, employment working hours and cash
for in-service training of its engineers. In particular it has developed structures dedicated to specific sectors
or occupations within an in-house training institute, the Assystem Institute. Skills reviews are conducted
annually for all engineers, which help detect any training requirements for acquiring new skills or honing
existing skills. In addition, annual recruitment campaigns specifically target the skills required for successful
performance of the Group’s current and future projects.
Risk of losing key skills
needed for the Group to
be able to operate and
develop.
Negative impact
on the Group’s image
and revenue.
Key persons are identified within each of the Group’s operating entities as well as in its head office
and support functions.
Succession plans have been drawn up or are being prepared for all of these key persons.
In addition, the measures taken to ensure the continuity of our internal control process and the continuous
improvement approach of which this process forms part are notably aimed at ensuring the continuity
of our processes and operations independently of the persons in charge of them, thus decreasing the risk
of dependence on key persons.
5.5
RISKS RELATED TO IT SYSTEMS
Type
Impact
Risk reduction measures
Risk that data is not
available or is corrupted.
Inability to pursue
projects, negative
impact on the Group’s
image and revenue.
In view of the Group’s high dependence on information systems (for the execution of client projects as well
as for its own needs) and the decentralisation of the IT function, risks related to information systems are very
closely scrutinised. Business continuity and recovery plans have been established and tested in all of our
operating units. Access to information systems is also strictly controlled, especially for employees who use
remote access (although the number of these employees is limited). Lastly, access to restricted client areas
(engineering platforms installed on Group premises) is strictly controlled in line with our clients’ security
policies.
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ASSYSTEM
FINANCIAL REPORT
2015