Baltic Export, Industry, Latvia, Markets and Companies, Technology

For the fourth quarter of the financial year, the group's unaudited consolidated net turnover was EUR 3.83 mln, which is by 2% more y-o-y. The group completed the fourth quarter with a profit of EUR 97,000.

The turnover in the North/Latin Americas was 53% or EUR 2 mln. Compared with the same quarter last financial year, the region’s turnover increased by 17 %. Sales in the European and CIS region were 43%, or EUR 1.64 mln, which exceeds the volume of the fourth quarter of the previous financial year by 70%. It is also the highest quarterly turnover since the beginning of the previous financial year.

The group’s products were sold in 51 countries during the reporting quarter.

Sales in the North/Latin Americas made 61% of the total group’s turnover, or EUR 8.8 mln, which is an increase of 15% against the result of the previous financial year. 32% of the total turnover was made by profits in the European and CIS region.

The group’s expenditures did not exceed the planned levels, but were generally higher than during this period a year ago, due to investments in existing and new market segments to promote sales.

SAF Tehnika continues to explore market demand and problematic issues, increasingly focusing on the diversification of its product portfolio. The company’s goal is to stabilize sales levels to ensure a positive net result in the long term.

In June, SAF Tehnika released Integra-X with cross-polarization support (XPIC) and enhanced Ethernet functionality, thus continuing to expand its range of products. Also, a number of new solutions were added to the Aranet product family, such as the PAR sensor which measures the amount of light the plant is exposed to, a new temperature sensor, and others.

In early April, SAF Tehnika’s microwave spectrum analyzer Spectrum Compact 70-87GHz won the EDI CON 2019 Innovation Award. The EDI CON Product Innovation Award honors products introduced during the previous year that have had the greatest impact on the industry, providing the tools necessary to bring on the next generation of electronic design innovations

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SAF Tehnika Group comprises Latvia’s SAF Tehnika, as well as US-registered companies SAF North America LLC and SAF Services LLC. SAF Tehnika shares are quoted on the Nasdaq Riga Main List.