The board of Aforti Holding S.A. (“the Company”, “the Issuer”) with its registered seat in Warsaw, based on the recommendations issued by the European Securities and Markets Authority (ESMA) and the Polish Financial Supervision Authority (KNF), hereby informs about the expected impact of the effects of the spread of coronavirus and related: announcement of epidemic status in the territory of the Republic of Poland and Policy Council decisions Monetary and Ministry of Finance, for the operations of the Issuer and its Capital Group.
On the date of publication of this report, the Issuer and its Capital Group maintain operational continuity. Most of the employees and associates of the Issuer and its Capital Group work remotely. The necessary security procedures have also been introduced: direct meetings with clients for telephone and electronic communication have been minimized, visits to foreign subsidiaries have been suspended, universally recommended health and safety principles and solutions have been implemented for limiting the risk of virus infection.
In the case of lending activities carried out by the Issuer’s subsidiary: Aforti Finance S.A., the Issuer’s Management Board takes into account various scenarios depending on the individual situation of the clients. The management board of the subsidiary monitors the situation regarding the repayment of loans granted on an ongoing basis, prepares appropriate procedures and actions that will be implemented if necessary.
In the field of currency exchange services for entrepreneurs carried out by the Issuer’s subsidiary: Aforti Exchange S.A., an increase in the value of turnover carried out by clients month to month is observed by just over 14 percent. Here it should be noted that interest in currencies due to the high level of volatility of their exchange rate is an effect of, among others lowering interest rates and the macroeconomic situation in Poland and in the world.
In the area of debt collection carried out by the Issuer’s subsidiary: Aforti Collections S.A., a further significant increase in orders and acceleration of the transfer of outstanding claims by creditors is observed.
At the same time, a stable situation remains in the case of factoring services provided by the Issuer’s subsidiary: Aforti Factor S.A.
At the moment, the number of users visiting the websites of the Issuer and its subsidiaries is comparable to the previous month.
Taken the dynamically changing environment into account, the Management Board of the Issuer cannot reliably determine the impact of the spread of the COVID-19 coronavirus on the Company’s and its Capital Group’s operations, financial results and business prospects. It should be emphasized that at present the business continuity of the Issuer and its Capital Group has not been interrupted. The Issuer and its subsidiaries are currently adjusting their activity to the observed and anticipated market needs.
The Company monitors the situation on an ongoing basis, and in the case of events having an impact on the financial results and economic situation of the Issuer, the Issuer’s Management Board will inform in separate current reports as soon as such events occur.
Legal basis: Article 17 paragraph 1 of the MAR – confidential information