SAF Tehnika Consolidated Interim Report for Q4 and 12 months of financial year 2020/2021
Riga, 2021-08-11 08:31 CEST --
In the fourth quarter of the financial year 2020/2021, the Group’s unaudited consolidated net turnover was 8.2 million euros, which is 134% more than in the third quarter of the FY 2019/2020, and is historically the highest sales volume for a single quarter. The Group ended the fourth quarter of the financial year 2020/2021 with a profit of 2.04 million (unaudited). The unaudited consolidated result for the financial year 2020/2021 is profit of EUR 4.15 million.
The turnover in North and Latin Americas was 61% or EUR 5.06 million. Compared to the turnover in the same quarter of the previous financial year, the turnover increased by 144% as a result of successful sales project transactions in the previous quarters.
The turnover in Europe and CIS countries amounts to 30% or EUR 2.48 million, which is 134% more than in the fourth quarter of the previous financial year. The turnover of the AMEA (Asia, Middle East, Africa) region increased by 71% compared to the corresponding quarter of the last financial year, and makes up 9% or EUR 705 thousand.
In the reporting quarter, the Group’s products were sold in 57 countries.
The Group’s unaudited consolidated turnover of the financial year 2020/2021 was EUR 25.56 million, which is 52% more than the amount of revenue in the previous financial year.
The Group’s costs did not exceed the planned levels, and The Group continues to invest in the development of new products and product modifications.
The unaudited consolidated result for the financial year 2020/2021 is a profit of EUR 4.15 million. The Group’s profit for the previous financial year 2019/2020 was EUR 476 thousand.
The Group’s net cash balance at the end of the period was 7.6 million euros.
In the context of a global pandemic, the Group follows the epidemiological rules in its home country, ensuring compliance with applicable regulations. The manufacturing facility of SAF Tehnika continued to operate in its normal/rearranged mode, the company manufactured and shipped its products worldwide. At the manufacturing facility, the work is organized in such a way as to minimize physical proximity (by working remotely or rearranging workplaces), as well as all employees are provided with face masks, disinfectants, frequent cleaning and ventilation of premises.
The Group’s operations are also affected by the global shortage of various electronic components. By regularly reviewing delivery volumes and deadlines, the company continues to accumulate material reserves in order to be able to fulfil 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, as well as continues investments in product development. The goal of the Company is to stabilize sales levels to ensure a positive net result in the long term.
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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