The turnover of ‘SAF Tehnikas’ grew by 35.7% in the last financial year

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On the other hand, in 2021/2022 The group’s unaudited consolidated net turnover for the fourth quarter of the financial year was EUR 8.394 million, which is 1.7% more than in 2020/2021. in the fourth quarter of the financial year. The “SAF Tehnika” group ended the fourth quarter of the financial year with an unaudited profit of 824,303 euros, which is 2.5 times less than in the fourth quarter of the previous financial year.

The statement to the stock exchange states that in the fourth quarter, the turnover of the region of North America and Latin America was 64% or 5.4 million euros. Compared to the turnover of the same quarter in the previous financial year, the turnover increased by 7%.

The turnover of the European and CIS region in the fourth quarter was 28% or 2.3 million euros. The turnover of the Asia, Africa and the Middle East region decreased by 4% compared to the corresponding quarter of the last financial year and accounts for 8% of the total quarterly turnover.

In the fourth quarter, “SAF Tehnika” group products were sold in 66 countries.

The announcement states that the group’s expenses did not exceed the planned and were generally higher than in this period a year earlier, which is related to the increase in the number of employees, investments for sales promotion in existing and new market segments. The Group continues to invest in the development of new products and product modifications.

In order to strengthen its position in the international market and promote the recognition of brands and products, in the final quarter of the financial year “SAF Tehnika” participated in 16 international exhibitions, covering industries of various scales in the USA, Europe and Asia. At the same time, great emphasis was placed on digital marketing activities and e-commerce, promoting both brand recognition and increasing sales figures.

Since the beginning of Russia’s hostilities in Ukraine, the direct impact on the operation of the “SAF Tehnika” group has been relatively limited, however, the uncertainty of the business environment has increased, according to a statement to the stock exchange. The Group carefully evaluates possible cost growth forecasts and potential risks.

Also, in the statement to the stock exchange, it is indicated that the group’s operation is affected by the global shortage of various electronic components. Supply chains are increasingly burdened – alternative transport options increase delivery times and costs. As in the periods of the Covid-19 pandemic, by regularly reviewing procurement volumes and terms, the company continues to accumulate material reserves in order to be able to fulfill the majority of orders within the usual execution times. This applies to all “SAF Tehnikas” product groups – microwave radio, “Spectrum Compact” and “Aranet”.

The group continues to study market demand and problematic issues in order to be able to offer the necessary product modifications, and also continues to invest in product development. The company’s goal is to stabilize the turnover level, which ensures a positive net result in the long term, according to a statement to the stock exchange.

2020/2021 in the financial year “SAF Tehnika” worked with a consolidated turnover of 25.022 million euros and earned a consolidated profit of 3.878 million euros.

On the other hand, in 2020/2021 in the fourth quarter of the financial year, the turnover was 8.25 million euros, and a profit of 2.036 million euros was made.

“SAF tehnikas” group includes Latvia’s “SAF tehnika”, as well as the US companies “SAF North America LLC” and “SAF Services LLC”. The company’s largest shareholders are Didzis Liepkalns (17.05%), SIA “Koka zirgs” (12.19%), Andrejs Grišāns (10.03%), Normunds Bergs (9.74%) and Juris Ziema (8.71%) ). “SAF tehnikas” shares are listed on the official list of “Nasdaq Riga” stock exchange.

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