Unibios SA Holdings further clarifies and updates the references to the impact of the pandemic on the operation of the company, the measures taken to limit this effect and the estimates of the effect of the pandemic in the future included in its half-yearly report in the context of the implementation of paragraphs 15-15C of IAS 34.

The group's sales were reduced during the first semester of 2020 in comparison to the corresponding last year period. This decrease is largely due to the fact that in the water treatment business, the hospitality and catering sectors in Greece did not experience the usual activity in the first half of the year as most companies could not operate due to the restrictive measures. Also, the contracting of significant supplies to Municipalities was delayed due to the restrictions imposed on the operation of the Public Services. Similarly, in the field of Construction Tools, a significant part of the business concerns the supply of stands and tribunes for sporting and theatrical events that take place during the summer season, which were cancelled. Finally, as regards our activities outside Greece, these decreased due to the restriction of new investments observed in times of recession and the inability to implement projects due to restrictions on international travel movements.

In order to reduce the risks of the spread of the coronavirus disease, the group has taken all the health measures provided for by the authorities both in Greece and in its subsidiaries abroad. All staff were thus warned and all the health protocols and procedures provided for were consistently implemented.

 In order to limit the economic consequences resulting from the pandemic, the group's companies made use of the measures taken by the state which allowed, in the first half of 2020, to reduce the financial and salary costs by 25% and 12.5% respectively as reflected in the interim financial statements. Travel costs were also cut by 28%, transport costs by 42% and promotion and advertising costs by 77%. Overall, Administration and Sales Expenses decreased by 15%. In the context of the use of various relief and support measures, the group's companies undertook the commitment not to decrease the total number of their staff. Although there are different staff retention deadlines for the various measures, the ultimate deadline is currently the 18.06.2022. If the companies of the group keep these commitments, they will also benefit from the non-refundable part of the repayable advance they have received from the Greek state.

 In order to improve the cash flow, the company took advantage of the measures allowing the deferral of payments of tax liabilities and loan repayment instalments, these measures eased the effects of the observed delay in receipts from government agencies due to difficulties in the procedures because of the limitations imposed by the Coronavirus.

Our financial statements contain two estimates in relation to the impact of these events on the future. The first is that the health crisis will be transient and does not in any way affect our position in the market in the long term, nor do we see any substantial consequences in this respect for the group. Our financial statements have been prepared based on the prediction that during 2021 a vaccine and a treatment for the corona virus will be available and the health crisis will be resolved. The second estimate contained in our financial statements is that in the second half of 2020 turnover will stabilize and cover part of the first half reduction in revenue so that the final annual revenue reduction rate will be lower than that observed in the first half. Currently even though the conditions  for the implementation of this assessment are met (orders, tenders, negotiations with customers at an advanced stage, etc.) the development of the health crisis remains extremely uncertain and therefore, the implementation of any prediction depends to a large extent on unforeseen factors outside the control of the company. In any case, at this stage and as the prospect for a solution of the health crisis problem emerges for the first half of next year, we do not identify long-term material implications for the operation of our Group's companies.