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Published: 2020-03-13 13:47:29 CET
East West Agro AB
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Comment on the business environment in the event of a coronavirus (COVID-19) outbreak

Kaunas, Lithuania, 2020-03-13 13:47 CET -- AB East West Agro (EWA) provides commentary on operating activities and business environment in the event of a coronavirus (COVID-19) outbreak:

Agricultural machinery. The nature of work with clients remains unchanged, they are being visited in farms, also coming to company outlets for negotiations and physical evaluation of machines. The supply of agricultural machinery from manufacturers for 2020 is planned, most of the machines are already produced, some of them has been delivered to Lithuania. Existing inventory provide over half of the planned annual sales volume.

Spare parts. Supply is running smoothly so far, there is no information on planned delays from suppliers. Spare parts inventory exceeds their annual sales volume.

Services. Servicing of machines is in normal mode.

The company monitors the situation and prepares an action plan in the event of possible operational restrictions: a developed sales and service IT infrastructure would allow organizing sales activities from home, scheduling servicing activities or carrying out with mobile service vans, with additional virus protection measures.

Although the direct impact on the agricultural sector should not be felt, it is difficult to evaluate the potential impact for the annual results and reaching budget targets in the current situation. When the operating conditions change or the consequences are clearer, the company undertakes to present the information in a separate report.

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