Audited statements and Corporate Governance report of „SAF Tehnika” for financial year 2020/2021
Net turnover of the “SAF Tehnika” Group in the 2020/2021 financial year was 25.02 million euros, which is by 8.3 million euros or by 49% higher than in the previous financial year 2019/2020. The net turnover of the Parent company in FY 2020/2021 was EUR 20.98 million, which is by EUR 7.1 million higher than in the previous FY 2019/2020. The Board of the Parent company proposes to pay dividends of EUR 2 million.
Riga, 2021-11-01 15:14 CET --
“SAF Tehnika” publishes its audited consolidated and non-consolidated financial statements for financial year 2020/ 2021 (from July 1, 2020- June 30, 2021) 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 98.03% of the turnover and amounted to EUR 24.53 million. During the reporting year, the Group exported its products to 85 countries worldwide.
The Group’s activities were also affected by the worldwide deficit of various electronics components. By regularly reviewing supply volumes and deadlines, the Group continued to accumulate material reserves in order to be able to fulfill most of the orders within normal lead times. This applies to all SAF product families – microwave links, Spectrum Compact and Aranet.
During the reporting year, the Group invested EUR 615 thousand into IT infrastructure, production and research equipment, purchase of software and licenses, as well as product certification.
The Group completed the financial year 2020/2021 with a profit of EUR 3.88 million.
The Parent company’s financial result for FY 2020/2021 was a profit of EUR 3.18 million 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 2 million.
Audited Consolidated financial statements and Separate financial statements for “SAF Tehnika” for the year ended June 30, 2021
Corporate Governance report for financial year 2020/2021
Remuneration Report for the year ended June 30, 2021
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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