RB 9/2020
Legal basis: Article 17 (1) MAR – confidential information. With reference to the recommendations of the European Securities and Markets Authority and the Financial Supervision Commission, the Management Board of Pragma Faktoring S.A. reports on the impact of the effects of the spread of the SARS-CoV-2 virus on the Issuer’s operations. As of the date of publication of this report, the Company is unable to accurately predict the effects of the virus on its operations. Based on current observations and analysis, we can state that:
- The company has maintained full operational capability, fully and smoothly executing all processes related to daily operations.
- The company does not have significant portfolio exposure in industries affected by regulatory restrictions (passenger transportation, tourism, entertainment, hospitality).
- There is a possible increase in overdue on the portfolio because in connection with possible delays we will apply soft measures to customers and clients, deferring repayments in justified cases if this does not generate an increase in transaction risk. As of today, we have not recorded increased delays.
- We are counting on a decline in turnover, but it is not obvious: turnover in March (including last week) is higher than that generated in the corresponding periods in February and January.
- We are experiencing an increase in demand from new customers for our services, due to the onlineness of our products and processes, we do not see significant barriers to their provision in the current situation.
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