Interim report (Q1 and Q3)
SAF Tehnika Consolidated Interim Report for Q3 and 9 months of financial year 2019/2020
For Q3 of the FY 2019/2020, the Group's unaudited consolidated net turnover was 4.52 million euros, which is by 24% more than in Q3 of the FY 2018/2019. The Group ended the Q3 of FY 2019/2020 with a profit of EUR 158 thousand (unaudited). The unaudited consolidated result for 9 months of the FY 2019/2020 is profit of EUR 610 thousand.
Riga, 2020-05-13 16:43 CEST --
Most of the quarterly turnover was made by sales in North/Latin Americas region – 65% or 2.95 million EUR. Turnover in Europe and CIS region composes 25% or EUR 1.13 million EUR. The AMEA (Asia, Middle East, Africa) region had a turnover of 10% or EUR 435 thousand.
The Group’s products were sold in 54 countries during the reporting quarter.
The Group’s unaudited consolidated turnover for the 9-month period of the FY 2019/2020 was EUR 13.23 million, which is 25% more than the amount of revenue in the same period of the previous financial year.
The unaudited consolidated result for the 9-month period of FY 2019/2020 is profit of EUR 610 thousand. The Group’s result of 9 months in the previous financial year 2018/2019 was a loss of EUR 511 thousand.
During the quarter, the Group created a separate website dedicated to the Spectrum Compact product line: www.spectrumcompact.com
During the Covid-19 pandemic, all offices and the manufacturing facility of SAF Tehnika are operating normally, the company manufactures and ships its products worldwide. The company has accumulated enough materials, adjusted supply chains and is able to fulfill most of the orders within normal lead times. This applies to all SAF product families – microwave links, Spectrum Compact and Aranet
The Group continues to explore market demand and problematic issues in order to be able to provide necessary product modifications both on a daily basis and in the context of changing global circumstances, 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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