Export, Good for Business, Industry, Latvia

In the fourth quarter of the fiscal year, the group's unaudited consolidated net turnover was EUR 3.67 mln, which is by 13.6 % more than in the fourth quarter of the previous fiscal year. The group's profit grew 65.2% year-on-year to EUR 572,500.

Last fiscal year, SAF Tehnika increased revenues in North/South Americas by 10.4% to EUR 7.103 mln, while revenues in Europe and CIS countries dropped by 4.3 % to EUR 4.831 mln, and revenues in Asia, Africa and the Middle East expanded 29.4 % to EUR 1.772 mln.

The company's management says in the report that "the microwave radio market has not experienced any rapid changes recently. There is still an increase in demand for radio systems that provide enhanced data transmission rate and can be enhanced and updated in order to improve data usage. Such requirements increasingly set the trend for introducing new products, including both SAF Tehnika and the market in general. The Group continues to explore market requirements and problematic issues in order to be able to provide necessary product modifications".

SAF Tehnika also aims to stabilize its turnover to ensure a positive net result in the long run. The SAF Tehnika board remains cautiously optimistic about the future, but refrains from making specific forecasts for sales and operating results.

In the previous fiscal year SAF Tehnika generated EUR 12.853 mln in turnover and earned a profit of EUR 1.278 mln. In the fourth quarter of the previous fiscal year, the company's turnover was EUR 3.255 mln and profit EUR 346,600.

SAF Tehnika Group comprises Latvia's SAF Tehnika and the US-registered companies SAF North America LLC and SAF Services LLC.

SAF Tehnika is quoted on the Main List of the Nasdaq Riga stock exchange.