Notification on material event
On the impact of coronavirus (COVID-19) on the activities of AB Snaigė
Responding to the situation in the country, AB “Snaigė” has taken all necessary and recommended measures to protect the company's employees, clients and partners. Most of administration staff work from home remotely. The company is able to fulfill the orders placed, but the biggest challenge so far is an export, which accounts for more than 90 percent of the company's portfolio. Due to the disruption of transport movements between European countries, huge congestions at national borders and the shortage of transport companies operating under these conditions, the export of goods has become extremely difficult. For the same reason, the delivery of some raw materials is delayed.
It is not yet possible to assess how much this will affect the company's annual results, but it is clear that the impact will be negative. The Company will inform the market participants in a separate notice of the changed conditions and circumstances.