With respect to the recommendations of the European Securities and Markets Authority (ESMA) and the Polish Financial Supervision Authority dated 12 March 2020, the Management Board with its registered office in Mysłowice (“Company” or “Issuer”) would like to notify you of the impact of spread of SARS-CoV-2 and COVID-19 on the activity Stalexport Autostrady S.A. Capital Group (“Group”).
Please be informed that operating activities of the Company and the Group are conducted without significant disruptions. The Group implements all guidelines recommended by the Main Sanitary Inspectorate and other state institutions, placing particular emphasis on safety, health and hygiene recommendations. Business trips to countries identified by the Main Sanitary Inspectorate as high-risk countries have been withheld. Direct contacts of employees within the company are limited and office workers can work remotely on a larger scale. Remote communication methods are commonly used in business contacts.
However, as approx. 99% of the Group's revenues in 2019 (PLN 351.5 million) were revenues from toll collection at section of the A-4 motorway between Katowice and Kraków (PLN 347.4 million) managed by Stalexport Autostrada Małopolska S.A. (a subsidiary of the Issuer), any changes in traffic on this section of the motorway will be significant for the results achieved by the Group. These changes result from spread of SARS-CoV-2 and COVID-19, and primarily from guidelines and restrictions issued by state authorities and institutions related to movement of citizens.
In relation to the above, the Management Board of the Issuer has decided to once a week publish information on the traffic dynamics on the A-4 motorway section between Katowice and Kraków in 2020 on a weekly basis compared to the same periods of the previous year.
The first information is presented in Attachment no. 1 to this report.
As at the date of this report, the Management Board of the Company anticipates that spread of SARS-CoV-2 and COVID-19 may have a significant impact on future operating and financial results, and activity of the Group. At the same time, it is not possible to estimate the scale of this impact.
In the opinion of the Management Board, the actual extent of the future impact of SARS-CoV-2 spread and COVID-19 on Company’s and Group’s activity is unknown and depends on factors that are beyond the Company’s control.
The most important risk that the Management Board notices at present involves possible restrictions in passenger and truck traffic in the country or Lesser Poland and Silesia Voivodeships and further restrictions on international road transport imposed by Polish authorities and neighbouring countries.
The above assessment of situation and impact of SARS-CoV-2 spread and COVID-19 on activity of Stalexport Autostrady S.A. Group has been drawn up to the best of the Management Board’s knowledge at the time of submitting this current report. The Management Board of the Company monitors the situation related to the spread of SARS-CoV-2 and COVID-19 and their impact on the activity of the Company and Group on an ongoing basis.
The Management Board of the Company will notify you of any new and significant circumstances that have impact on operating and financial activity of the Group in separate reports issued directly after occurrence of such circumstances.
Article 17(1) of Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (market abuse regulation) and repealing Directive 2003/6/EC of the European Parliament and of the Council and Commission Directives 2003/124/EC, 2003/125/EC and 2004/72/EC.
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