Update from Ridercam AB regarding the global Coronavirus outbreak
I am sure you are all aware, there has been an outbreak of a respiratory disease caused by a novel coronavirus that was first detected in Wuhan City, Hubei Province, China. The virus has spread rapidly across the globe, although most reported cases are in mainland China.
Intergovernmental bodies such as the World Health Organisation are working round the clock with national governments to co-ordinate an effective response to the further spread of this virus. At this stage it is difficult to predict the eventual outcome.
It has been previously reported that Ridercam AB, through the introduction of Vekoma, has signed a significant agreement with Fantawild, China’s largest theme park operator. As reported in January, we have had some delays with these installations due to Fantawild’s team working to integrate their software with that of Ridercam’s.
Due to the extraordinary measures that the Chinese government are taking to combat the spread of this virus, Fantawild has opted to temporarily close a number of their Theme Parks. The end-result is that Ridercam will only deliver on these contractual installations at such a time that the parks will re-open. It is difficult to forecast exactly when this will be, but we do note that numerous experts have suggested that the “peak” infection rate is behind us. Overall, we welcome this step from a humanitarian perspective and for the safety of our own crew.
Due to the global, diverse nature of our business we are happy to report growth in other areas. We are pleased to announce that we have contracted another coaster in Europa Park (due to launch in the summer 2020) and we are working with their team to fully install a further 10 cameras on our test Coaster for the Easter holiday. Furthermore, we are due to go live again in Linnanmaki in Finland on the 28th of April. The summer looks busy for Ridercam in Europe!
Europa-Park is the largest theme park in Germany, and the second most popular theme park resort in Europe, following Disneyland Paris. Europa-Park is located in Rust, in south-western Germany, between Freiburg im Breisgau and Strasbourg (in neighbouring France).
Although this outbreak presents a threat to the global economy, our business is diverse and resilient and our management team are confident in our future success.