Statement regarding the United Kingdom exit from the European Union (Brexit)

2019-03-01

Along with all companies, Doro has no clear direction as to whether or not the UK is heading towards a no deal Brexit or a deal Brexit. However, having examined the business processes we are confident that we are prepared to deal with any scenario.

Should there be a deal Brexit then there is a two year transition period before any major changes take affect and in this period things will be more understood and can be planned for. Should Brexit take place without a deal then it is uncertain as to what impact this will have. We therefore have to plan for the worst case scenario and this statement sets out what actions we have taken.

Movement of goods
Our goods are manufactured outside the EU, but are shipped to a central warehouse within the EU and distributed from there to the UK. At present we are building up larger stock reserves to be held within the UK should there be any delays in goods being shipped out of the EU into the UK. The plan is that stock will continue to be supplied via the normal channels and if problems occur then to use the reserve stock.

Should this not be an effective solution then as a further back up goods can be shipped directly from the manufacturer to the UK, thus following existing customs regulations.

For non Doro goods we have had clarification from those suppliers that they too have similar plans in place in regards to being able to continue to supply us with those goods.

Customs Tariffs
At present it is unknown what tariffs will be applied to goods arriving from the EU into the UK. We do not anticipate increasing our prices but will review this situation once we understand the impact of any tariffs imposed.

Staffing
We employ circa 250 people in the UK of which we have 5 European nationals, mainly in our monitoring centre. Therefore we do not foresee any issues with staffing as a result of a no deal Brexit.

Regulations
It has been confirmed that when the UK leaves the EU the GDPR regulations will remain as they are presently and it is likely that all other standards will continue to remain as they are, with perhaps some logo changes in due course. There will be no change in the TSA QSF accreditation as this is UK based.

Along with all companies, Doro has no clear direction as to whether or not the UK is heading towards a no deal Brexit or a deal Brexit. However, having examined the business processes we are confident that we are prepared to deal with any scenario.

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