In the first quarter of the financial year 2024/ 2025, the Group’s unaudited consolidated net turnover was 8.53 million which is an increase of 58% compared to the first quarter of the financial year 2023/2024. The Group closed the 1st quarter of the financial year 2024/2025 with profit of EUR 814 thousand (unaudited).

The turnover of the North and Latin America region amounted to 56%, or EUR 4.7 million. Compared to the same quarter of the previous financial year, the turnover increased by 51%.

The European region gave 39% of the turnover, or EUR 3.3 million, which is 1.2 times more than in the Q1 of the previous financial year.

During the reporting quarter, several projects were completed, the implementation of which had previously been temporarily suspended.

In the reporting quarter, the Group sold goods in 65 countries.

The Group’s expenses amount did not exceed that was planned in the budget. The Group continues to invest in new products and in the development of product modifications.

The Group closed the 1st quarter of the financial year 2024/2025 with profit of EUR 814 thousand (unaudited). The result of Q1 of the previous year was a loss of EUR 1.47 million.

To ensure liquidity, the Parent Company continues the Credit Line Agreement with Luminor Bank AS for the total amount of EUR 4.95 million. At the end of the reporting period, the credit line was not used.

Despite the modernization of the telecommunications market in the direction of fiber-optic communications, there is still a market demand for radio systems that provide enhanced data rates. Consequently, 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.

The goal of the company is to stabilize the turnover level, which ensures a positive net result in the long run. The Board of SAF Tehnika remains cautious and refrains from providing specific sales and performance forecasts.

 About SAF Tehnika:

„SAF Tehnika” JSC is an ISO certified wireless data transmission equipment manufacturer. The company's products are produced in Latvia, Europe and sold in over 130 countries worldwide. „SAF Tehnika” has been listed on Nasdaq Riga since 2004. SAF Tehnika wholly owns subsidiaries “SAF North America” LLC, which operates from Denver, CO, USA and serves the North American market and “SAF Tehnika Asia PTE” LTD in Singapore. 

         Additional information:
         Zane Jozepa
         CFO, Member of the Board
         zane.jozepa@saftehnika.com
         www.saftehnika.com