The unimaginable has happened: We have war again in Europe. There have been acts of war in Ukraine for several weeks now. As United Electronic Technology (UET) AG, we have a clear position:
We condemn the senseless war in Ukraine with the endless suffering for the innocent people of the sovereign country. We are deeply shocked by Russia’s attack on Ukraine. Because this war, like all of them, is pointless. We deplore the violation of international law and military aggression in all its forms. We are committed to peaceful co-existence in the team, in the company, with business partners and with society and of course also between countries.
We demand peace and an immediate end to war in the name of humanity. We as an industry are trying to provide help for the people in Ukraine and the war refugees. As a communications industry, we can try to make a contribution, especially in the digital infrastructure.
UET AG and its subsidiaries currently do not conduct business in Ukraine and Russia. Therefore, no direct effects on our business are currently foreseeable.
Indirectly, however, the economic consequences of the war in Ukraine are already clearly noticeable: the acts of war are affecting supply chains and commodity markets. Many of our business partners are also directly affected. Our competitors work with product manufacturing in Ukraine, our customers operate engineering centers in Russia and development work in Ukraine. These activities are directly related to our projects. On the one hand, this can mean additional business and additional risks; on the other hand, we also have the opportunity to demonstrate our excellent skills in difficult times. The situation remains unpredictable. We will monitor developments closely and will respond quickly if necessary.