UET United Electronic Technology AG

  • WKN: A0LBKW
  • ISIN: DE000A0LBKW6
  • Land: Deutschland

Nachricht vom 25.02.2020 | 13:25

UET United Electronic Technology AG publishes assessment of 'Sars-CoV-2' (Coronavirus) impact on business development

DGAP-News: UET United Electronic Technology AG / Key word(s): Statement/Miscellaneous
25.02.2020 / 13:25
The issuer is solely responsible for the content of this announcement.

  • Forecast growth potentially lower than expected
  • Production guaranteed at own location in Germany


UET United Electronic Technology AG (ISIN: DE000A0LBKW6), Eschborn, today publishes an assessment of the business development in connection with the infection "Sars-CoV-2", known as "Coronavirus".

According to the current analysis, it is expected that the increasing spread of the infection and the associated impact on customers will also have an impact on the planned growth of the UET Group. There is currently a risk that growth can only be achieved in the low double-digit percentage range.

The production including the entire logistics of the UET Group is located in Germany. The decision of the UET Group to manufacture all products in Germany was made in 2012. As a result, production was further expanded and modernised through investments. Today, this enables a complete supply chain from purchasing to manufacturing, testing and shipping of all products at the own German site in Hartmannsdorf - independent and fully operational.

Long-term purchasing planning and warehousing ensure that supply is secured - based on the current forecasts and orders - for all key components for the second quarter of 2020. Individual components with origin in China are currently - in the event of not being available - procured from alternative international manufacturers. This can lead to higher costs, but currently does not lead to an interruption.

The UET Group has set up a task force. This task force is dedicated to both business and personal aspects. Business includes minimising the impact on the supply chain and doing business with our customers. Personal aspects include the health and safety of our employees, business partners and their families.

The current developments are closely monitored, analysed, evaluated. Various action scenarios are developed on this basis.


Contact:
UET United Electronic Technology AG
Frankfurter Straße 80-82
D-65760 Eschborn

Sebastian Schubert
Investor Relations
Tel: + 49 (0) 6196 777755-0
E-Mail: investor@uet-group.com



25.02.2020 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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