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| related topics |
| {condition, economic, financial} |
| {capital, credit, financial} |
| {operation, international, foreign} |
| {customer, product, revenue} |
| {product, liability, claim} |
| {debt, indebtedness, cash} |
| {competitive, industry, competition} |
| {regulation, change, law} |
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The leaf tobacco industry is highly competitive, and we are heavily reliant on a few large customers.
Our financial results can be significantly affected by the changes in the balance of supply and demand for leaf tobacco or other agricultural products.
Our financial results will vary according to growing conditions, customer requirements and other factors. These factors also reduce the ability to gauge our performance and increase the risk of an investment in Universal.
Major shifts in customer requirements for tobacco supply may significantly affect our operating results.
In areas where we purchase leaf tobacco directly from farmers, we bear the risk that the tobacco we receive will not meet quality and quantity requirements.
Weather and other conditions can affect the marketability of our products.
A significant slowdown in home improvement or construction markets in the Netherlands could have an adverse effect on our results of operations.
Government efforts to reduce tobacco consumption could have a significant impact on the businesses of our customers, which would, in turn, affect our results of operations.
Government efforts can have a significant effect on the sourcing of tobacco. If those efforts are successful, we could have difficulty obtaining sufficient tobacco to provide for our customers requirements, which could have an adverse effect on our performance and results of operations.
Because we conduct a significant portion of our operations internationally, political uncertainties in certain countries could have an adverse effect on our performance and results of operations.
Changes in tax laws in the countries where we do business may adversely affect our results of operations.
Failure of our customers or farmers to repay extensions of credit could materially impact our results of operations.
Failure of foreign banks in which our subsidiaries deposit funds or the failure to transfer funds or honor withdrawals may affect our results of operations.
We have substantial debt outstanding which may limit our ability to secure future sources of financing.
Fluctuations in foreign currency exchange rates and interest rates may affect our results of operations.
Full 10-K form ▸
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