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SAF Tehnika company grows by 134%

Aug 30

In the fourth quarter of the 2020/2021 financial year, the unaudited consolidated net turnover of SAF Tehnika group, a manufacturer of wireless data transmission equipment, was 8.2 million euros. This represents an increase of 134% compared to the same period of the previous financial year and is the highest ever sales volume in a single quarter. The group ended the fourth quarter of the 2020/2021 financial year with an unaudited profit of 2.04 million euros.  

The turnover in the North American and Latin American region in the fourth quarter of the 2020/2021 financial year amounted to 5.06 million euros. Compared to the same quarter last financial year, turnover is up 144%. This is due to successful sales project transactions in previous quarters. The turnover in the European and CIS region amounted to 2.48 million euros. This represents an increase of 134% compared to Q4 of the previous financial year. The Asian, African and Middle Eastern region, on the other hand, generated a turnover of 705 thousand euros. This represents an increase of 71% compared to the same quarter of the previous financial year.

In the quarter under review, the group’s products were sold in 57 countries.

The group’s operations are also affected by the global shortage of various electronic components. The company continues to build up material reserves through regular reviews of delivery volumes and schedules to be able to fulfil the majority of orders within the usual delivery times. This applies to all SAF Tehnika product groups: microwave radio, Spectrum Compact and Aranet. The group continues to study market demand and issues to be able to offer the necessary product modifications and continues to invest in product development. The company’s objective is to stabilise turnover at a level that ensures a positive net result in the long term.

The unaudited consolidated turnover of the SAF Tehnika group for the financial year 2020/2021 was 25.56 million euros.

This represents an increase of 52% compared to the revenue of the last financial year. The consolidated unaudited profit for the financial year 2020/2021 is 4.15 million euros.

SAF Tehnika AS is a manufacturer of wireless data transmission equipment. The company’s products are manufactured in Latvia and sold in more than 130 countries worldwide. SAF Tehnika shares are listed on Nasdaq Riga. The company owns 100% of the subsidiaries SAF North America and SAF Services. The two companies mentioned above operate from Denver, Colorado, USA and serve the North American market.

Source: labsoflatvia.com

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