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Thursday, 28.03.2024, 14:13
Latvia’s SAF Tehnika posts EUR 825,900 in H1 profit
In the second quarter of the financial year the company
generated EUR 4,335 mln in sales, up 25.8%, while the group’s profit increased
36% to EUR 424,743.
The company said that despite the slight decline in the second quarter, the revenues in North/Latin Americas during the six-month period exceeded 50 % of the total Group’s turnover and amounted to EUR 4.07 mln, thus demonstrating a 12% increase against the results of the first half of the previous financial year. Revenues from the European and CIS region
represented
40% of the total turnover, having increased by 40%, or EUR 936,000, against the
previous year. Revenues from the AMEA (Asia, Middle East, Africa) region
decreased by 18% or EUR 180,000, thus making 10% the Group’s total six- month
turnover.
More than half of the quarterly turnover – 51% or EUR 2.2 mln
- was made by sales in the European and CIS region and was related to the
development of data transmission solutions and products tailored to specific
customer needs. This region’s result is by EUR 1.3 mln greater than in the
second quarter of last year and is two times higher than the results of the
preceding quarter.
The turnover in North/Latin Americas was 33% or EUR 1.4 mln.
Due to the implementation of individual projects, the region’s turnover
decreased by 60% as compared to the same quarter of the previous financial year.
In the AMEA (Asia, Middle East, Africa) region, revenues of the second quarter
amount to 16 % of the total turnover. That is by EUR 0.35 mln more than a year
ago.
SAF Tehnika closed
the first quarter of the previous fiscal year with EUR 3.537 mln in turnover
and a profit of EUR 292,377.
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.