Transcom Holding AB (publ): COVID-19 update
Transcom has two critical missions in the Covid-19 pandemic. First and foremost, we will keep our employees safe and avoid further transmission of the virus. Secondly, we will contribute to keeping society up and running.
To our first mission. During February, Transcom implemented preventive measures at all sites to actively ensure the safety of employees and prevent further spread of the coronavirus. Transcom also engaged in proactive discussions with key clients on business continuity measures, should a significant interruption arise.
To our second mission. In a situation where societies shut down and physical interactions are kept at a minimum, it is essential that e-commerce, financial services, telecommunications, technology, and logistic services are up and running. We help enable this through delivering customer service and technical support to our clients’ customers, and we will do our utmost to continue delivering these services.
Transcom deliver customer services at distance, through 27,000 employees from about 50 contact centers and through Work-At-Home (WAH) agents on three continents. Our client portfolio predominately consists of companies who deliver their services without physical interactions.
We currently experience increase in overall demand due to the COVID-19 pandemic, primarily in E-commerce, but also in the Telecom and Financial Services sectors. Transcom has a very limited exposure to the Travel and Hospitality sectors. Short term, we expect neutral or positive impact on the aggregated demand of our services.
Transcom’s main risk in this pandemic are government regulations, impacting workforce attendance and production capacity at our contact centers. We are currently running somewhat below normal production, due to disturbances in the Philippines, Italy and Spain.
We are currently shifting volumes from contact centers to WAH delivery, to increase our resilience. The possibility to shift to WAH depends upon type of services delivered, technical environment and broadband capacity.
The above general update is based on the current situation and subject to change as the situation evolves. At this point, it is too early to assess the long term impact on Transcom.
This information is information that Transcom Holding AB is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, through the agency of the contact person set out above, at 15:00 CET on March 18, 2020.