Current Report No. 4/2020 — 25.03.2020 17:08Information on the impact of the COVID-19 pandemic on operations of the Atende Group
The Management Board of Atende S.A. (the ′Company′, ′Issuer′) hereby reports that according to the current assessment of the Issuer, tthe COVID-19 pandemic and the related market situation will adversely affect the financial performance of Atende and the Atende Group in 2020. At the same time, given the unprecedented nature of the current situation, including the unpredictable length of the further duration of the epidemic risk, the scale of all administrative restrictions, their economic impact, both during and after the end of the epidemic threat, it is not possible to estimate the scale of this impact at the time of publication of this report.
The Issuer has identified the major risks associated with the pandemic. These are: deterioration of the financial standing of the Group's clients, creation of payment bottlenecks at business partners, reduction or delay of IT projects by the Group's clients, delays in the execution of orders by suppliers, postponement of orders and execution, and fluctuations in exchange rates.
The Company is taking steps to minimize the negative effects of the pandemic. Expenditures, including investments, which are not essential for the continuation of operations have been postponed. In addition, the Company prepares scenarios of cost-saving measures, depending on the current and anticipated effects of the pandemic. The advantageous factor in the current situation is the current, very good financial situation of the Issuer.
The Atende Group follows all safety, health and hygiene guidelines recommended by the Chief Sanitary Inspectorate and other state institutions. First of all, direct contacts of employees inside and outside the organization have been limited, remote communication methods are widely used, more office workers perform their duties remotely. The Issuer's priority is to maintain business continuity and ensure the safety of Atende Group's employees and stakeholders.