March 20, 2020

It is an exceptional situation. Since March 16, all Austrian stores that do not sell essential goods remain closed for the time being.

Entrepreneurs, driven by the sense of utmost responsibility, and fully aware of the catastrophic consequences of the crisis caused by SARS-CoV-2 epidemic outbreak and spreading, have decided to establish the Polish Trade and Services Employers’ Association.

Temporary declines in rental income from the retail business should be largely offset on a cash flow basis by the cost savings programme currently in progress. VIVO! and STOP SHOP demonstrate their relative competitive strength in a difficult market environment with a high share of goods for everyday needs and generally low facility costs.

Mipim was just the beginning. Mapic Italy (including “The Happetite”), Mapic Russia, Magdus, etc. are following.

The Group now has €10.2 Bn in cash on hand and undrawn credit lines, which provides it with the liquidity needed to cover all expected funding needs even under an extreme “stress test” scenario.