Russia attacked Ukraine after which Vladimir Putin published an order to conduct a special military operation in Donbass. Attacks on military infrastructure occur in many Ukrainian regions and cities. The Ukrainian army has reported the destruction of a number of Russian aircraft, helicopters, tanks and combat vehicles in the east of the country.

After the Russian attack, more companies are making decisions about operating in Ukraine.

Russia’s attack on Ukraine 

CCC Group, which has 18 brick-and-mortar stores in Ukraine, closed stores, and merchandise shipments have been suspended. – Due to the application of martial law, all fixed units have been closed and transportation has been halted. Our franchise partner has asked employees to stay home. Offices, however, operate remotely. We are closely following the situation and are constantly interacting. We are concerned about the safety of residents – and hope to end the conflict in the area as soon as possible, said Daria Solgostowska, a spokeswoman for the CCC.

As I mentioned, 18 of the nearly 1,000 stationary stores of the CCC Group are located in Ukraine. The company is present in this market in a franchise model. – The spokeswoman said that today Ukraine and Russia represent about 3 percent of the business of the Consolidated Contractors Company and about 1 percent of the business of the entire group.

The Polish clothing company LPP has moved management from its Kiev office to Lviv. The company also closed its stores in Ukraine. LPP owns brands such as Cropp, Sinsay, House, Mohito and Reserved. – Trade in Ukraine is closed. Security is the priority, so the management of our office in Kiev has been moved to Lviv. All shipments to Ukraine have been suspended before the border. LPP spokeswoman Monica Wszeborowska said the situation is developing, and we are watching what happens next.

The countries of Eastern Europe (the CIS region), that is, Russia, Ukraine, Belarus and Kazakhstan, accounted for 28 percent in 2021. Of the total sales of the LPP group, it brought almost 4 billion PLN in revenue.

CCC and LPP shares listed on the Warsaw Stock Exchange are melting in red. Either way, these are double-digit dips. Around 15.45, CCC was losing more than 13 percent, and LPP – more than 22 percent. About 10 percent of inter-cars are also decreasing.

Inter Cars announced in its announcement that its subsidiary Inter Cars Ukraine has ceased its operating activities. “The company’s board of directors constantly monitors the situation in Ukraine and, if possible, remains in contact with the employees of Inter Cars Ukraine” – it was written in the statement. Inter Cars is an importer and distributor of spare parts for passenger cars and commercial vehicles.

Inter Cars Ukraine’s revenue in 2021 amounted to approximately 580.2 million PLN, or approximately 4.82%. Inter Cars consolidated revenue in 2021. As mentioned, it is not currently possible to fully assess the impact of current events on the financial result of the Inter Cars group.

PKO Bank Polski, owner of Kredobank in Ukraine, confirmed that it is ready for all scenarios. – With the presence of Kredobank in Ukraine, the management of this bank and we here in Poland, we followed all the information very intensively and of course prepared for all scenarios, especially when it comes to the company that works in this field – said on Thursday at the conference the head of PKO BP Iwona Duda. Kredobank is a global bank headquartered in Lviv.

The president stressed that the bank “has a very good cadre.” – the employee who succeeded in 2014, that is, at the time of a certain escalation of the annexation of Crimea (by Russia – ed.), has specific experiences, knows how to react. Duda emphasized that different elements have been developed when it comes to dealing with situations of escalation and geopolitical tension.

PKO BP Vice President Max Karachkovsky said Kredobank had prepared “a specific strategy for alternative measures”. – Depending on how this scale of aggression will spread on the territory of Ukraine, this is also how Kredobank will work, which has prepared its network for various possibilities – he explained. – Where possible, in line with the recommendations of Ukrainian regulators, we will carry out banking activities. We take care of the deposits entrusted to Kredobank, and are trying to continue working on the loan portfolio – Kraczkowski emphasized.

Kredobank’s branch network includes headquarters in Lviv and 82 branches throughout Ukraine. Its portfolio includes more than 588 thousand. Retail clients and 57 you. companies and institutions.

PKO BP’s stock price was down more than 16 percent at 4:00 p.m.

It is not only Polish companies that are responding to Russia’s invasion of Ukraine. ArcelorMittal has announced the suspension of mining in underground mines in Ukraine. ArcelorMittal is one of the largest steel and mining companies in the world. The company said on Twitter on Thursday that it would halt production at underground mines in Ukraine and slow production to a technical minimum.

In turn, Coca-Cola HBC announced the closure of its bottling plant in this country. In connection with the Russian invasion of this country, the company advised its employees to stay at home. A spokesman for Coca-Cola HPC told Reuters that the decision would be reconsidered in the coming days.