Half Year financial report
SAF Tehnika Consolidated Interim Report for Q2 and 6 months of financial year 2019/2020
For Q2 of the FY 2019/2020, the Group's unaudited consolidated net turnover was 4.72 million euros, which is by 21% more than in Q2 of the FY 2018/2019. The Group ended the second quarter with a profit of EUR 193 thousand (unaudited).The unaudited consolidated result for 6 months of the FY 2019/2020 is profit of EUR 451 thousand.
Riga, 2020-02-12 15:44 CET --
Most of the quarterly turnover was made by sales in North/Latin Americas region – 69% or 3.25 million EUR. It is the region’s highest quarterly turnover over the last 2 financial years due to successful sales at the end of the previous quarter.
Turnover in Europe and CIS region composes 23% or EUR 1.1 million EUR. The AMEA (Asia, Middle East, Africa) region had a turnover of 8% or EUR 376 thousand.
The Group’s products were sold in 59 countries during the reporting quarter.
The Group’s unaudited consolidated turnover for the 6-month period of the FY 2019/2020 was EUR 8.71 million, which is 25% more than the amount of revenue in the previous financial year.
The unaudited consolidated result for the 6-month period of is profit of EUR 451 thousand. The Group’s result of 6 months in the previous financial year 2018/2019 was a loss of EUR 490 thousand.
During the reporting period, SAF Tehnika participated in trade fairs, including the largest Middle East Technology Exhibition in Dubai – GITEX (for the fourth time), the Smart building show in the UK, RigaComm exhibition in Riga, WISPAPALOOZA in Las Vegas, FIA Expo in Chicago, as well as in a series of smaller events in Europe, USA and Latin America.
The Group continues to explore market demand and problematic issues in order to be able to provide necessary product modifications, as well as continues investments in product development.
The Company’s goal is to stabilize sales levels to ensure a positive net result in the long term. The Board of SAF Tehnika retains caution and refrains from making certain predictions regarding future sales volumes and financial results.
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, the USA serving North American market.
CFO, Member of the Board
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