The Management Board of Inter Cars S.A. with its registered office in Warsaw (the “Company”) announces that in accordance with an assessment prepared as at March 24th 2020, the effects of the SARS-CoV-2 pandemic and measures taken by governments in the countries where the Inter Cars Group entities operate in order to contain the pandemic, will have a significant impact on the Inter Cars Group entities’ revenues and the Company’s financial performance for the first quarter of 2020. The Company’s Management Board further announces that as at the date of this current report the Inter Cars Group entities are conducting operations in all geographical markets.
The Company’s Management Board expects that these factors may also have a significant impact on the Inter Cars Group entities’ revenues and the Company’s financial performance in the following quarters of 2020. According to the Management Board’s estimates, monthly revenues of the Inter Cars Group entities for March 2020 will decrease by approximately 15% year on year. As regards other matters, the Company’s Management Board is currently unable to precisely predict the impact of the SARS-CoV-2 pandemic on the Inter Cars Group entities’ revenues or the Company’s financial performance, as the situation with the pandemic itself and with containment efforts taken by individual countries varies and is changing dynamically, and there is no reliable data regarding the expected duration of the pandemic or its social and economic effects.
Detailed monthly revenue figures will be reported by the Company’s Management Board in line with the current practice.
Art. 17.1 of MAR − Inside information
- Krzysztof Soszyński - Vice President of the Management Board
- Piotr Zamora - Member of the Management Board