March 23, 2020 / 1:58 PM / in 17 days

BRIEF-Slaskie Announces Possible Impact Of Coronavirus On Its Operation

March 23 (Reuters) - Slaskie Kamienice SA:

* SAID ON FRIDAY IT CANNOT AT PRESENT PRECISELY DETERMINE THE FINAL EFFECTS OF THE CORONAVIRUS EPIDEMIC ON THE GROUP’S OPERATIONAL ACTIVITY

* DUE TO EPIDEMIC, INTERPERSONAL CONTACT IS SIGNIFICANTLY LIMITED AND THE GROUP’S AND ITS UNITS’ REVENUE DEPENDS ON CONCLUDING CONTRACTS, REQUIRING PERSONAL PRESENCE

* IN AN EXTREME SCENARIO CLOSING OF CONTRACTS COULD BE TEMPORARILY SUSPENDED IMPACTING FINANCIAL RESULTS IN FUTURE QUARTERS

* AT PRESENT RENOVATION AND CONSTRUCTION TEAMS HAVE NOT STOPPED OPERATIONS BUT THE GROUP DOES NOT EXCLUDE SUCH POSSIBILITY WHICH WOULD RESULT IN SCHEDULE DELAYS IMPACTING FINANCIAL RESULTS IN FUTURE QUARTERS

* AT PRESENT SEES NO RISK REGARDING PAYMENT OF COUPONS ON BONDS

* IS SEEING DELAYS IN PROCESSING TIMES OF SUBMITTED LOAN AND LEASING APPLICATIONS, ALSO SOME STORES/WHOLESALERS HAVE SUSPENDED ACTIVITIES CAUSING DIFFICULTIES IN ACCESSING MATERIALS AND PRODUCTS

* IF SITUATION REMAINS UNSTABLE, SAID DELAYS AND DIFFICULTIES COULD CAUSE POTENTIAL DELAYS IN IMPLEMENTATION OF INDIVIDUAL INVESTMENTS AND COULD AFFECT FINANCIAL RESULTS IN FUTURE QUARTERS

* DECISION TO CLOSE UNIT SLASKA PROHIBICJA, WILL HAVE SIGNIFICANT IMPACT ON UNIT’S FINANCIAL RESULTS

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Further company coverage: (Gdansk Newsroom)

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