Covid-19 slightly slows down implementation of WSE's strategic initiatives

The Covid-19 pandemic has somewhat slowed down the implementation of WSE's strategic initiatives, but the work is already being resumed, informed Marek Dietl, WSE President. He estimates that currently the cost and wage pressures are lower than assumed at the beginning of 2020.

"In the second quarter there was a coincidence that certain things slowed down due to Covid-19, and on the other hand, we obtained a lot of grants from the National Center for Research and Development, which are financed in advance," Dietl said.

"Covid-19 helped in the current core business, but did not facilitate the implementation of strategic initiatives, if only because of the smaller possibility of interaction with stakeholders in the environment and the smaller possibilities of selling our new products. We have already managed to return to the path of strategic projects implementation, with some limitations," he added.

He noted that strategic projects will ultimately cost as much as assumed, but these expenses are slightly more spread over time.

Capital expenditures of the WSE group in the six-month period of 2020 totaled PLN 16.4 million, of which PLN 5.3 million was expenditure on fixed assets and PLN 11.1 million on intangible assets.

(PAP)