InTiCa Systems AG: Loss of sales and production stoppage due to Covid-19 quarantine at the Prachatice site
Loss of sales and production stoppage due to Covid-19 quarantine at the Prachatice site
Passau, July 27, 2020 - InTiCa Systems AG (ISIN DE0005874846, ticker IS7), which is listed in the Prime Standard on Frankfurt Stock Exchange, hereby reports that the responsible Czech authorities have ordered provisional quarantine and Covid-19 testing for all staff employed at InTiCa Systems' site in Prachatice, Czech Republic, due to Covid-19 infections at the facility. The responsible authorities are expected to take a decision on the scope and duration of the quarantine when the test results are available, probably at the end of this week.
The authorities have not closed the Prachatice site so it is still possible to deliver finished products and warehouse stock. However, a complete production stoppage at the Prachatice site is likely during the quarantine period. InTiCa Systems AG, the Board of Directors and the local management are working closely with the Czech authorities to protect the company's employees and their relatives and minimize the impact on production and customers of InTiCa Systems AG.
The Board of Directors anticipates a potential loss of sales of up to EUR 1.5 million for each week of the production stoppage. It may not be possible to recoup this by the end of the financial year. It is not yet possible to estimate the exact impact on earnings. The Board of Directors is still not able to provide guidance for annual sales and earnings as it is not possible to forecast the effects of the Covid-19 pandemic.
InTiCa Systems AG
The Board of Directors
CONTACT Dr. Gregor Wasle | CEO TEL +49 (0) 851 - 966 92 - 0 FAX +49 (0) 851 - 966 92 - 15 EMAIL email@example.comAbout InTiCa Systems: InTiCa Systems is a European leader in the development, manufacture and commercialization of inductive components, passive analogue switching technology and mechatronic assemblies. It operates in the Automotive Technology and Industrial Technology segments and has more than 700 employees at its sites in Passau (Germany), Prachatice (Czech Republic) and Silao (Mexico).
The Automotive Technology segment focuses on innovative products that raise the comfort and safety of cars, improve the performance of electric and hybrid vehicles and reduce carbon emissions. InTiCa Systems' Industrial Electronics segment develops and manufactures mechatronic assemblies for the solar industry and other industrial applications.
Forward-looking statements and predictions
This press release contains statements and forecasts referring to the future development of InTiCa Systems AG which are based on current assumptions and estimates by the management that are made using information currently available to them. If the underlying assumptions do not materialize, the actual figures may differ substantially from such estimates. Future developments and results are in fact dependent on a large number of factors; they contain different risks and imponderables and are based on assumptions that may not be accurate. We neither intend nor assume any obligation to update forward-looking statements on an ongoing basis as these are based exclusively on the circumstances prevailing on the date of publication.
27-Jul-2020 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.deLanguage: English Company: InTiCa Systems AG Spitalhofstraße 94 94032 Passau
Germany Phone: 0851 / 96692 0 Fax: 0851 / 96692 15 E-mail: firstname.lastname@example.org Internet: www.intica-systems.com ISIN: DE0005874846 WKN: 587484 Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange EQS News ID: 1102221 End of Announcement DGAP News Service
1102221 27-Jul-2020 CET/CEST