Impact of the coronovirus COVID-19 pandemic on the Issuer's operations
(Current Report No 6/2020)
Article 17 sec.1 MAR - confidential information
The Management Board of CCC S.A. based in Polkowice (hereinafter referred to as "the Issuer"), informs that according to the assessment valid on 13 March 2020, the Issuer expects that the effects of the COVID-19 coronary virus pandemic announced by the (WHO) World Health Organization and the related actions taken today by the government administration in the scope of reducing the activity of shopping centres will have a significant impact on the future financial results of the Issuer's Capital Group.
The Issuer is not able to estimate the full impact of the coronovirus pandemic on its financial performance at the time of publication of this report.
In particular, the Issuer indicates that the introduced restrictions in the operation of shopping malls, where CCC stores are located, will have a negative influence with a high probability on the financial results of the first quarter.
It should be mentioned that the Group intensively develops sales in e-commerce channels, which constituted in the structure of revenues from sales respectively 25% in 2019 and nearly 45% in March 2020.
The Issuer indicates that the above evaluation was prepared according to the best knowledge of the Issuer as of the date of preparation of this current report, but the size of the influence is unknown and cannot be estimated and depends on factors that are beyond the influence or control of the Issuer.
The Management Board of the Company will analyse on an ongoing basis the situation of the Company and its Capital Group regarding the spread of COVID-19.
Possible new conditions, significantly influencing the generated financial results and the economic situation of the Issuer, will be communicated in the mode provided for the provision of such information.
1/ Marcin Czyczerski - President of the Management Board
2/ Mariusz Gnych - Vice-President of the Management Board