Annual Financial Report
Audited statements and Corporate Governance report of „SAF Tehnika” for financial year 2019/2020
Net turnover of the “SAF Tehnika” Group in the 2019/2020 financial year was 16.76 million euros, which is by 2.32 million euros or by 16% higher than in the previous financial year 2018/2019. The net turnover of the Parent company in FY 2019/2020 was EUR 13.86 million, which is by EUR 1.99 million higher than in the previous FY 2018/2019. The Board of the Parent company proposes to pay dividends of EUR 473 185.
Riga, 2020-10-29 15:39 CET --
“SAF Tehnika” publishes its audited consolidated and non-consolidated financial statements for financial year 2019/ 2020 (from July 1, 2019- June 30, 2020) according to Section 56th, 5th paragraph of „Law on the Financial Instruments Market”
During the reporting year, the development and improvement of the microwave wireless data transmission product line continued. Solutions were found to improve functionality and quality indicators, and to reduce production costs. The Group continued to design and develop the Aranet functionality – the new Internet of Things (IoT) environmental monitoring solution, as well as kept on working on the Aranet Cloud service. Aranet is an industrial-grade wireless environmental monitoring solution that allows taking measurements of various environmental parameters over a wide area, including monitoring of temperature, humidity, and CO2.
Exports made 96.93% of the turnover and amounted to EUR 16.24 million. During the reporting year, the Group exported its products to 83 countries worldwide.
Fluctuations in turnover for all regions are affected by variable proportion of projects, replacement of equipment generations, and product audits, especially in the segments of standard equipment.
During the reporting year, the Group invested EUR 439 thousand into IT infrastructure, production and research equipment, purchase of software and licenses, as well as product certification.
The Group completed the financial year 2019/2020 with a profit of EUR 442 thousand.
The Parent company’s financial result for FY 2019/2020 was a profit of EUR 473 thousand EUR. This successful result of economic activity was provided by an increase in the share of variable specialized projects with high added value in the overall project portfolio.
The Board of the Parent company proposes to pay dividends of EUR 473 185.
Audited Consolidated financial statements and Separate financial statements for “SAF Tehnika” for the year ended 30 June 2020
Corporate Governance report for financial year 2019/2020
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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