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SAF Tehnika Consolidated Interim Report for Q4 and 12 months of financial year 2018/2019
For Q4 of the FY 2018/2019, the Group's unaudited consolidated net turnover was 3.83 million euros, which is by 28% more than in Q4 of the FY 2017/2018. The Group completed the Q4 of the FY 2018/2019 with a profit of 97 thousand euros (unaudited). The Group's unaudited consolidated turnover of the FY 2018/2019 was 14.44 million euros, which is 8% more compared to the revenues of the same period in the previous financial year.
Riga, 2019-08-14 15:08 CEST --
The turnover in the North/Latin Americas was 53% or 2 million euros. Compared with the same quarter last financial year, the region’s turnover increased by 17%. Sales in the European and CIS region was 43%, or 1.64 million euros, which exceeds the volume of the 4th quarter of the previous financial year by 70%. It is also the highest quarterly turnover since the beginning of the previous FY 2017/2018.
The Group’s products were sold in 51 countries during the reporting quarter.
The Group’s unaudited consolidated turnover of the FY 2018/2019 was 14.44 million euros. Sales in the North/Latin Americas made 61% of the total Group’s turnover, or 8.8 million euros, which is an increase of 15% against the result of the previous financial year. 32% of the total turnover was made by profits in the European and CIS region.
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 completed the Q4 of the FY 2018/2019 with a profit of 97 thousand euros (unaudited). Profit for the Q4 of the previous year was 2 thousand euros.
The unaudited consolidated result of the FY 2018/2019 is the loss of 414 thousand euros. The Group’s result of the previous FY 2017/2018 was the loss of 219 thousand euros. SAF Tehnika continues to explore market demand and problematic issues, increasingly focusing on the diversification of its product portfolio. The Company’s goal is to stabilize sales levels to ensure a positive net result in the long term.
In June, SAF Tehnika released Integra-X with cross-polarization support (XPIC) and enhanced Ethernet functionality, thus continuing to expand its range of products. Also, a number of new solutions were added to the Aranet product family, such as the PAR sensor which measures the amount of light the plant is exposed to, a new temperature sensor, and others.
In early April, SAF Tehnika’s microwave spectrum analyzer Spectrum Compact 70-87GHz won the EDI CON 2019 Innovation Award. The EDI CON Product Innovation Award honors products introduced during the previous year that have had the greatest impact on the industry, providing the tools necessary to bring on the next generation of electronic design innovations.
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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