SAF Tehnika Consolidated Interim Report for Q2 and 6 months of financial year 2015/16

For Q2 of the FY 2015/2016, the Group's unaudited consolidated net turnover was 3.45 million euros, which is by 6%, or 0.2 million euros, less than in Q2 of the FY 2014/2015, and by 3% less than in Q1 this year. The Group closed Q2 with the profit of 312 thousand euros (unaudited), which is by 112 thousand euros more comparing to revenues generated in Q2 of the previous financial year. The unaudited consolidated result for 6 months of the FY 2015/2016 is the profit of 605 thousand euros, which is by 119 thousand euros more, comparing to the Group's result of 6 months of the previous FY 2014/2015 (the profit of 485 thousand euros).


Riga, Latvia, 2016-02-04 08:49 CET (GLOBE NEWSWIRE) --  

For Q2 of the FY 2015/2016, the Group’s unaudited consolidated net turnover was 3.45 million euros, which is by 6%, or 0.2 million euros, less than in Q2 of the FY 2014/2015, and by 3% less than in Q1 this year.

The major part of the turnover in Q2 (64%), or 2.2 million euros, was made by sales in North/Latin Americas, which is by 51% more than in Q1 this year because of specific customer needs and development of tailored solutions and products for data transmission. This region’s result rose by 38% as compared to Q2 of the previous year. The Group’s products were sold in 49 countries during the reporting quarter.

            The Group closed Q2 of the FY 2015/2016 with the profit of 312 thousand euros (unaudited), which is by 112 thousand euros more comparing to revenues generated in Q2 of the previous financial year.

For 6 months of the FY 2015/2016, the Group’s unaudited consolidated turnover was 6.85 million euros, which is a 2% increase compared to revenues at the same period of the previous financial year.

The unaudited consolidated result for 6 months of the FY 2015/2016 is the profit of 605 thousand euros, which is by 119 thousand euros more, comparing to the Group’s result of 6 months of the previous FY 2014/2015 (the profit of 485 thousand euros).  It should be noted that the profit of the first half of the previous financial year was largely made by revenues from currency fluctuations.

The Group had a positive net cash flow during 6 months of the present FY, equaling to 1.482 million euros. As of the end of the financial year (except for interest charges), the Group’s net cash balance was 5.8 million euros. In December 2015, dividends were paid in the amount of 0.34 euros (thirty four cents) per share, or 1.009 million euros in total.

SAF Tehnika is the 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. 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. Although the result of the reporting period is positive, the Board of SAF Tehnika 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 OMX 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.

         Additional information:
         Zane Jozepa
         CFO, Member of the Board
         +371 67 046 833
         zane.jozepa@saftehnika.com


Attachments

6M FY15_16_SAF_results ENG.pdf