Real problems

The Risk Awards 2003

Companies blamed shrinking third-quarter revenues and margins mainly on currency fluctuations, commodity prices and the weather in financial disclosures over the past three months.

Exposure to the rapidly deteriorating Brazilian Real in the third quarter burdened many, including Spanish energy company Endesa, US retail paper products maker Kimberly Clark, British American Tobacco and US agricultural commodity company Bunge. The Real declined in value relative to the dollar by 40% over

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact or view our subscription options here:

You are currently unable to copy this content. Please contact to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to View our subscription options

If you already have an account, please sign in here.

You need to sign in to use this feature. If you don’t have a account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here