SAF Tehnika

Earnings Release • May 13, 2015

SAF Tehnika Consolidated Interim Report for Q3 and 9 months of financial year 2014/15

SAF Tehnika’s non-audited consolidated net sales for the third quarter of financial year 2014/15 were 2.75 million EUR, increasing by 19% or 0.4 million EUR compared to the third quarter of the previous financial year, but being by 25% less than sales in the previous quarter – Q2 of FY 2014/2015. The SAF Tehnika group ended the third quarter of 2014/15 financial year with profit 743 thousand EUR. The net result of the Group for the 9 months of 2014/15 financial year was profit 932 thousand EUR which is good result comparing with 580 thousand consolidated loss the Group ended 9 months period of previous financial year 2013/2014. 

The SAF Tehnika group’s non-audited consolidated net sales for the third quarter of financial year 2014/15 were 2.75 million EUR, increasing by 19% or 0.4 million EUR compared to the third quarter of the previous financial year and being by 25% less than sales in the previous quarter – Q2 of FY 2014/2015.

Sales in the North and Latin America formed the biggest part of total sales (52%) in the reporting quarter being by 49% or 0.46 million EUR more than in the same quarter of the last financial year. Sales in Europe and CIS region represented 33% of the 3rd quarter’s turnover. Sales there declined by 6% compared with the same quarter of the last financial and were by 45% or 0.77 million EUR less than in Q2 of the current financial year. The reason for decrease – were no similar scale orders for Europe customers as were in the Q2 FY 2014/15. Sales in Asia Pacific, Africa and Middle East was 15% of quarterly sales and was by 9% more than in the 3rd quarter of the previous financial year and slightly more than in the Q2 of current financial year. 

SAF Tehnika’s 2014/15 financial year’s 9 month unaudited consolidated net turnover was 9.6 million EUR, which represented 12% increase comparing with the revenues generated in the respective period of the previous financial year.

The consolidated non-audited net result of the Group for the third quarter of 2014/15 financial year was profit 743 thousand EUR.

The consolidated non-audited net result of the Group for the 9 months of 2014/15 financial year was profit 932 thousand EUR which is good result comparing with 580 thousand consolidated loss the Group ended 9 months period of previous financial year 2013/2014. 

The Group’s net cash flow for the 9 month period of the financial year was positive – 1.74 million EUR

SAF Tehnika will keep its previously announced main focus on developing excellent quality microwave data transmission equipment with competitive price and functionality balance, will continue looking for new niches to explore its microwave competence. Sales resources will be targeted to regions with highest potential. The Group is financially stable. The goal is to regain sales levels which ensures positive net result in a long-term. Due to intense competitive pressure the Board of the SAF Tehnika cannot provide certain prognosis for sales figures and operational results.

About „SAF Tehnika” JSC

„SAF Tehnika” JSC is an ISO certified wireless data transmission equipment manufacturer. The company's products are produced in Latvia, Europe and sold in over 130 countries worldwide. „SAF Tehnika” has been listed on NASDAQ OMX Riga since 2004. SAF Tehnika wholly owns subsidiaries “SAF North America” LLC and  “SAF Services” LLC. Both of the mentioned companies are operating from Denver, CO, USA serving North American market.

Additional information:

Aira Loite

COO, Member of the Board

+371 67 046 833

Aira.Loite@saftehnika.com