Net turnover of the “SAF Tehnika” Group in the 2022/2023 financial year was 37.26 million euros, which is by 3.3 million euros or 9,7% higher than in the previous financial year. The net turnover of the Parent company in FY 2022/2023 was EUR 32.04 million, which is EUR 2.91 million or 10% more than in the previous FY 2021/2022. The Board of the Parent company proposes to keep the profit for the reporting year as retained earnings.

 “SAF Tehnika” publishes its audited consolidated and non-consolidated financial statements for financial year 2022/ 2023 (from July 1, 2022- June 30, 2023) according to Section 56th, 5th paragraph of „Law on the Financial Instruments Market”

During the reporting year, the development and improvement of the microwave wireless data transmission product line continued. The Group continues to actively explore the market and problematic issues in order to be able to offer the necessary product modifications and create prototypes for next generation technologies. At the same time, the Group also develops IoT segment solutions in business and consumer segments to diversify, to create higher added value for SAF Tehnika product offering, as well as to increase the Group’s revenue.

Exports made 99.09% of the turnover and amounted to EUR 36.92 million, the Group exported its products to 85 countries worldwide.

The Group’s operations were long affected by the global shortage of various electronic components. By regularly reviewing procurement volumes and deadlines, the company accumulated material reserves (inventories) to be able to fulfil most of the orders within normal lead times. Following the precautionary principle, total provisions for slow-moving inventory (compared to the volume at the end of the fourth quarter of the previous financial year) increased by EUR 2.2 million.

During the reporting year, the Group invested EUR 1.76 million into IT infrastructure, production and research equipment, purchase of software and licenses, product certification, as well as in the renovation of premises.

The Group completed the financial year 2022/2023 with a profit of EUR 3.53 million

The Parent company’s financial result for FY 2022/2023 was a profit of EUR 3.12 million EUR.

The Board of the Parent company proposes to keep the profit for the reporting year as retained earnings.

 Attachments:

Audited Consolidated financial statements and Separate financial statements for “SAF Tehnika” for the year ended June 30, 2023

Corporate Governance report for financial year 2022/ 2023

Remuneration Report for the year ended June 30, 2023

 Zane Jozepa
CFO, Member of the Board
Zane.Jozepa@saftehnika.com