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Published: 2022-10-31 16:58:02 CET
SAF Tehnika
Annual Financial Report

Audited statements and Corporate Governance report of „SAF Tehnika” for financial year 2021/2022

Net turnover of the “SAF Tehnika” Group in the 2021/2022 financial year was 33.97 million euros, which is by 8.95 million euros or 36% higher than in the previous financial year. The net turnover of the Parent company in FY 2021/2022 was EUR 29.14 million, which is by EUR 8.15 million higher than in the previous FY 2020/2021. The Board of the Parent company proposes to pay dividends of EUR 2 million.

Riga, 2022-10-31 16:58 CET --  

“SAF Tehnika” publishes its audited consolidated and non-consolidated financial statements for financial year 2021/ 2022 (from July 1, 2021- June 30, 2022) 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.

Exports made 98.59% of the turnover and amounted to EUR 33.49 million. During the reporting year, the Group exported its products to 81 countries worldwide.

The Group’s activities were affected by the worldwide shortage of various electronic components. Due to the war in Ukraine, supply chains are still in trouble – alternative transportation routes increase delivery times and costs. As in times of global pandemic, the company regularly reviews procurement volumes and deadlines, and continues to accumulate inventory 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. 

During the reporting year, the Group invested EUR 1.68 million into IT infrastructure, production and research equipment, purchase of software and licenses, product certification, as well as in the renovation of premises.

The Group completed the financial year 2021/2022 with a profit of EUR 6.09 million

The Parent company’s financial result for FY 2021/2022 was a profit of EUR 5.75 million EUR. The overall increase in turnover ensured successful performance.

The Board of the Parent company proposes to pay dividends of EUR 2 million.

 

Attachments:

Audited Consolidated financial statements and Separate financial statements for “SAF Tehnika” for the year ended June 30, 2022

Corporate Governance report for financial year 2021/2022

Remuneration Report for the year ended June 30, 2022

 

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 subsidiary “SAF North America". Companie is operating from Denver, CO, the USA serving North American market.

         Zane Jozepa
         CFO, Member of the Board
         Zane.Jozepa@saftehnika.com


SAF Tehnika Remuneration Report_2021_2022_eng.pdf
Corporate Governance report_2021_2022.pdf
SAF Tehnika 2021_2022_ENG_FINAL_ar zinojumu.pdf