Teksts
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SAF Tehnika's (further Group) non-audited net sales for the
first quarter of financial year 2012/13 were 1.92 million LVL (2.73
million EUR), dropping by approximately one third compared to
the first quarter of the previous financial year and also
decreasing 11% from the previous reporting quarter of the current
calendar year (Q4 FY 2011/12). The financial results can be
attributed to the low industry’s activity during the previous and
current reporting period as well as fierce price competition in the
market with heavy product and business promotion investments made
by most of the market players.
The Asia, Middle East and African regions showed recovering signs
posting an 11% increase from the previous reporting quarter of the
current calendar year, however still reaching only 58% from the
sales the Group enjoyed on the respective quarter of the previous
financial year. Consequently the region contributed significantly
(27%) to the total turnover generated during the reporting
quarter.
Although the European, CIS regions regular sales remained stable,
due to lack of mid-to-large scale projects the year-to-year
turnover decreased 14% or 0.09 million LVL (0.13 million EUR)
meanwhile the general region’s industry inactivity during the
summer period forced the turnover down by 48% compared to the
previous reporting quarter.
The sound position established in the Americas region where further
invigorated as the Group continued active marketing activities and
implemented specialized product promotions to re-vitalize the sales
of CFIP Lumina products along with the already active sales of
FreeMile product line. Consequently the sales increased by 43% or
0.25 million LVL (0.36 million EUR) compared to the previous
reporting quarter of the current calendar year.
Unfavorable USD to LVL, foreign exchange rates made a negative
impact on the reporting quarter’s profits. By implementing a
strategy of increasing footprint and local presence in specific
target markets, the Group saw an increase in both marketing and
operating expenses.
The Group ended first quarter of 2012/13 financial year with a net
loss of 120 thousand LVL (171 thousand EUR), which represents a
decrease by 598 thousand LVL (851 thousand EUR) when compared to
respective quarter of previous financial year where company posted
profit.
The Group is constantly progressing with ongoing research and
development projects, designing next generation wireless data
transmission devices. Further product launches are expected to be
announced on the first half of 2013. Meanwhile company retains its
focus on customizing existing solutions to better suit specific
niche microwave radio customer requirements and considers offering
additional network structure and performance consultations as well
as managed services. Product quality, production efficiency and
excellent client support will be centre of attention.
SAF remains financially stable and capable to withstand periods of
lower business activity. Meanwhile the further company’s sales
results largely depend on external factors such as availability of
production components, financing allocation in customer’s
organization, and overall political and economical state in
specific regions and markets, therefore the Board of the
Group would like to avoid being specific in predictions of
sales and financial result projections.
Additional information:
Aira Loite
Member of the board, COO
Phone: +371 67046833
Mailto: Aira.Loite@saftehnika.com
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