SPG with very limited business exposure to Russia, Ukraine and Belarus.
Given the tragic situation in the Ukraine we want to inform our investors about SPG’s business in the conflict region:
- SPG has legal entities in Russia (PRU) and Ukraine (PUA), currently employing 10 and 11 people accordingly. Focus of these entities is largely on customer service.
- 2021 sales in Russia and Ukraine contributed around 1% to the Group’s revenue
- SPG Management board has decided to currently not accept any new orders from Russia and Belarus and to pause the execution of our current order book of ~5m€ in that region.
- We remain in close contact with our Ukrainian colleagues and are working together to offer any support and to ensure the safety and well-being of them and their families. Currently, all our local employees are in places they consider more or less safe.
- We currently do not expect significant ripple effects of the ongoing conflict to our global business.
We are continuing to monitor the situation very closely. Any further adjustments or changes will be advised separately.
Schenck Process Group