Interim report (Q1 and Q3)
SAF Tehnika Consolidated Interim Report for Q3 and 9 months of financial year 2018/2019
For Q3 of the FY 2018/2019, the Group's unaudited consolidated net turnover was 3.65 million euros, which is by 25% more than in Q3 of the FY 2017/2018. The Group closed Q3 with the loss of 22 thousand euros (unaudited). The Group's unaudited consolidated turnover for the 9-month period of the FY 2018/2019 was 10.61 million euros.
Riga, 2019-05-15 15:36 CEST --
The turnover in North/Latin Americas was 66% or 2.4 million euros. Compared with the turnover of the same quarter last financial year, the region’s turnover increased by 40%. It is the highest quarterly turnover since the beginning of the previous FY 2018/2019.
Sales in the European and CIS region is 25%, or 926 thousand euros, which is equivalent to the result of the Q3 of the previous financial year.
The Group’s products were sold in 54 countries during the reporting quarter.
The Group’s expenditures did not exceed the planned levels, but were generally higher than during this period a year ago, due to investments in existing and new market segments to promote sales.
The Group finished the Q3 of the FY 2018/2019 with losses of 22 thousand euros (unaudited). The net result of the Group’s activities was positively influenced by the USD / EUR exchange rate. There was a loss of 353 thousand EUR in the third quarter of the previous year.
During 9 months of the financial year, the Group had a positive net cash flow equaling to 1.1 million euros. The Group’s net cash balance was 4.2 million euros at the end of the period
SAF Tehnika is the company with the long-term competence in development and production of microwave radios.
SAF Tehnika continues to expand its product range. In early March, a new microwave radio product – Integra E – with a data transfer rate of up to 10 Gbps was put on sale. The product is designed for customers who require high data rates. In addition, SAF Tehnika continues to develop the group of Aranet products. As the biggest news, Aranet4 (https://aranet4.com/) can be mentioned – an indoor air quality monitoring tool designed for both home users and as an integrated solution for business customers. Aranet4 measures CO2 (and notifies when its level in the room is exceeded), temperature, relative humidity and atmospheric pressure.
About SAF Tehnika:
„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 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.
CFO, Member of the Board
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