For Q4 of the FY 2017/18, the Group's unaudited consolidated net turnover was EUR 3 million, which is by 40% lower than in Q4 of the previous financial year, when the highest sales volume over the past 10 years had been reached. The sales turnover of the quarter is by 3% higher than in the previous - third quarter. The Group finished the closing quarter of the financial year with a profit of EUR 6 thousand (unaudited). The unaudited consolidated result for the FY 2017/18 is the turnover of EUR 13.04 million, but the unaudited result is a loss of EUR 214 thousand (EUR 170 thousand of it is fluctuations in EUR/USD exchange rate).
The major part of the quarter turnover is made by sales in North/Latin Americas - 58% or EUR 1.75 million of the quarterly turnover. The result is by 50% lower than in the respective quarter of the previous financial year due to the implementation of a specific project in the specified region last year.
The European and CIS region gave 32% or EUR 954 thousand of the turnover in quarter four. The turnover in the region is equivalent to the average turnover in the region.
The Group’s unaudited consolidated turnover for the financial year 2016/17 was EUR 13.4 million, which is a 21% decrease compared to revenue for the previous financial year. Fluctuations in turnover depend on the growing percentage of projects, replacement of equipment generations and product portfolio auditing, especially in segments of standard equipment.
The unaudited consolidated result for the FY 2017/18 is the loss of EUR 214 thousand, compared to the Group’s result of the previous financial year when the profit was EUR 1.7 million.
The Group’s costs did not exceed the planned levels, but were generally higher than during the same period a year ago due to investments in the development of new products that are expected to enter the market in the coming financial year.
In period from April to June, SAF Tehnika participated in several important industry-related exhibitions in North America and Europe. Including NAB Show, this is the largest trade show for U.S. broadcasters, and Tradetech exhibition in the Netherlands, which is dedicated to financial solutions.
During the reporting period Aranet product line was launched in U.S., as well as new sensors were presented. To promote Aranet an information campaign on carbon dioxide gas hazards at schools was launched. The prepared animation can be seen at Aranet website or YouTube channel.
SAF Tehnika is a company with the long-term competence in development and production of microwave radios. SAF Tehnika will proceed with its work on new high-quality products for the microwave data transmission market, providing not only standardized solutions, but also product modifications in order to meet customers’ special needs, as well as searching innovative ideas for applying microwave data transmission. The Group is financially stable. The goal of the Company is to stabilize sales levels to ensure a positive net result in the long term. The Board of SAF Tehnika maintains cautious optimism but cannot provide certain prognosis for sales figures and operational 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, USA serving North American market.
Attachments: 12M FY17_18_SAF_results ENG.pdf
CFO, Member of the Board
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