Uwe Kolb - Member of the Board, Finance

Uwe Kolb,
Member of the Board, Finance

We do not have a crystal ball to see into the future, but we do have the right systems in order to transfer key figures, experience and current business developments into the future.

At BHS too, the Finance and Controlling department has a classic job to fulfil: As well as complying with statutory performance requirements, its services ensure transparency in terms of results, finance, processes and strategy, whilst as the company navigator and consultant, it contributes to achieving the company's objectives.

The particular art is to anticipate the type and scope of future events in order to enable our company to react quickly. This art represents a significant success factor for BHS. Of course, art can also result in professional blunders. In that case, it is essential to react quickly and learn from mistakes. Particularly in a company like BHS which likes to take new approaches, it is essential to keep an eye on risks and opportunities that are always arising consequently.

For this reason, my team envisions itself as part of the company's creative processes that, in other companies, are often only reserved for the marketing departments. Overall, this gives rise to the space needed to work through potential future scenarios and to conduct controversial discussions without any intrigues or vanities.

Our systems are set up like in major corporations. We do not need to fight shy of any comparison, as is regularly confirmed to us by external consultants. And above all: BHS was prudent in the good times and amassed reserves. With an equity ratio of 45% and secure liquidity, we can remain solid even in difficult economic times. And that is quite right.