Net turnover of the SAF tehnika JSC in the 2011 / 2012 financial year was LVL 9.65 million (EUR 13.73 million) which represents a decrease by 11% comparing to the previous financial year. Export represented 96.16% of turnover amounting to LVL 9.28 million (EUR 13.21 million). During the reporting period the products of the Company were exported to 82 countries in the world, five of which received the products of SAF for the first time.
Americas continue to demonstrate positive trends. Turnover of the region in comparison with the previous financial year increased by 10% reaching LVL 3.3 million (EUR 4.7 million) and representing 34% of the total Company’s turnover during the reporting year.
At the same time, our turnover in Asia, Middle East and Africa decreased and revenue generated from the region represented only 28% of the total revenue of the Company. It may be explained by the fact that in 2011/2012 the Company did not have such large projects in this region as it did in the financial year 2010 / 2011; however, intensive cooperation with the existing and potential clients continued and there still was interest in the products of SAF Tehnika.
The income generated from Europe and the CIS slightly decreased; nevertheless, the sales were material for the Company and amounted to 38% of the annual revenue.
During the reporting year the Company continued developing its main product line in the licensed frequencies – CFIP where the main sources of income were CFIP Lumina and Phoenix, and CFIP Marathon, the product with the largest product niche potential, as well as the newest product line in the unlicensed frequencies – CFIP FreeMile.
The non-consolidated financial result for SAF tehnika of 2011 / 2012 was a profit of LVL 618 thousand (EUR 879 thousand) representing 77% of the profit of the previous year.
The audited consolidated financial result for SAF tehnika of FY 2011/ 2012 was a profit of LVL 608 thousand (EUR 865 thousand).

SAF Tehnika AS has retained financial stability. The audited net cash flow of the SAF tehnika for 12 months was positive and amounted to LVL 174 thousand (EUR 247 thousand).
Future perspectives
The strategy of SAF Tehnika AS has not changed. The Company continues working on a number of research and development products focusing on the development of new next generation microwave data transmission equipment and improvement of the functionality of the existing products in order to adapt them to specific requirements of the niche clients.
SAF Tehnika has proved itself to be a financially stable company capable of surviving market fluctuations; however, the results of the next periods will largely depend on external factors such as investments in client networks as well as the situation in global economy.
 

Attached are the Audited annual Non- consolidated and Consolidated reports as well as the report of Corporate Governance.
 

Additional information:
Aira Loite 
COO, Member of the Board 
+371 67 046 833 
Aira.Loite@saftehnika.com