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SAF Tehnika Consolidated Interim Report for Q4 and 12 months of financial year 2019/2020
For Q4 of the FY 2019/2020, the Group's unaudited consolidated net turnover was 3.53 million euros, which is by 8% less than in Q4 of the FY 2018/2019. The Group ended the fourth quarter with a loss of EUR 135 thousand (unaudited). The unaudited consolidated result of the financial year 2019/2020 is profit of EUR 476 thousand.
Riga, 2020-08-12 17:57 CEST --
Most of the quarterly turnover was made by sales in North/Latin Americas region – 59% or 2.07 million EUR. Turnover in Europe and CIS region composes 30% or EUR 1.06 million EUR. The AMEA (Asia, Middle East, Africa) region had a turnover of 11% or EUR 394 thousand.
The Group’s products were sold in 50 countries during the reporting quarter.
The Group’s unaudited consolidated turnover of the FY 2019/2020 was EUR 16.76 million, which is 16% more than the amount of revenue in the previous financial year.
The unaudited consolidated result of the financial year 2019/2020 is profit of EUR 476 thousand. The Group’s result in the previous financial year 2018/2019 was a loss of EUR 414 thousand.
In the fourth quarter special attention was paid to creating and expanding digital content for both Spectrum Compact and Aranet product families. During the quarter, a new addition to the Aranet product line was introduced – an innovative solution for measuring human body temperature for medical institutions fighting the COVID-19 pandemic, more details on https://aranetmedical.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 accumulates enough materials, has adjusted supply chains and is able to fulfil most of the orders within normal lead times. This applies to all SAF product families – microwave links, Spectrum Compact and Aranet.
There has been no rapid change in the microwave radio market over the last quarter. However, various specific restrictions due to the global COVID-19 pandemic cause project lags.
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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