Corporate profile

Press releases

SAF Tehnika has successfully participated in “WISPAPALOOZA 2018”

24.10.18.

SAF Tehnika Consolidated Interim Report for Q3 and 9 months of financial year 2017/2018

16.05.18.

For Q3 of the FY 2017/2018, the Group's unaudited consolidated net turnover was 2.92 million euros, which is by 23%, or 860 thousand euros less than in Q3 of the FY 2016/2017, and by 18% less than in Q2 this year. The Group closed Q3 with the loss of 352 thousand euros (unaudited).

The turnover of North/Latin Americas was 59% or 1.7 million euros. Compared with the same quarter last financial year, the region’s turnover decreased by 24%, due to the fact that already started custom-tailored solutions were finalized, but new ones have not reached the implementation phase during this quarter in the region.

The turnover in the European and CIS region was 33% or 948 thousand euros, which is equivalent to the average regional turnover and almost the same as in the previous financial year. However, it is 34% less than in the second quarter of the year, when the successful result was due to the development of a specific custom-tailored data transmission solution.

The Group’s products were sold in 45 countries during the reporting quarter.

Analyzing a longer period of time, the third quarter is usually the lowest result for the Group due to the winter period on most of the target market. The microwave radio market has not experienced any rapid changes during the last quarter, and, in our opinion, is not expected to any time soon, however, competition is growing, especially as regards standard equipment.

The Group’s unaudited consolidated turnover for the 9-month period of the FY 2017/2018 was EUR 10.4 million, which is a 13% decrease, compared to the last fiscal year’s revenues in the same period. The fluctuation of the turnover is a result of increasing share of projects in it.The unaudited consolidated result for 9 months of the financial year 2017/2018 is the loss of 221 thousand euros.

The Group continues to invest in sales promotion in new and existing markets, in the meantime paying attention to product modifications to ensure specific customer need, as well as investment in new products.

USD/EUR exchange rate negatively affects Group`s net result, especially if compared to the same period last year, when the fluctuation had a positive effect. As of the end of the reporting period, the net cash balance of the Group was EUR 3.9 million.

SAF Tehnika is the company with the long-term competence in development and production of microwave radios. SAF Tehnika will proceed with its work on new high-quality products for the microwave data transmission market, providing not only standardized solutions but also product modifications in order to meet customers’ special needs. The Group is financially stable. The goal of the Company is to stabilize sales levels to ensure a positive net result in the long term. Board of SAF Tehnika cannot provide a certain prognosis for sales figures and operational results.

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 and “SAF Services” LLC. Both of the mentioned companies are operating from Denver, CO, the USA serving North American market.

Attachments: 9M FY17_18_SAF_results ENG.pdf

Additional information:
Zane Jozepa
CFO, Member of the Board
+371 67 046 833
zane.jozepa@saftehnika.com

Vents Lācars joint proprietor, vice-president of business development and chairman of the Council of JSC “SAF Tehnika” has passed away

11.05.18.

SAF Tehnika has successfully participated in exhibition “NAB Show 2018”

18.04.18.

SAF releases next generation split-mount solution – PhoeniX G2

10.04.18.

SAF Tehnika has successfully participated in exhibition “IWCE Expo 2018”

14.03.18.

SAF Tehnika has successfully participated in exhibition "HortiContact GO 2018 (GO)"

09.03.18.

Members of the board

Normunds Bergs

CEO, Chairman of the Board

Owns 289 377 shares (9.74%)

Normunds Bergs, born in 1963, is Chairman of the Board and Chief Executive Officer of SAF Tehnika JSC. Bergs is one of the founders of Fortech Ltd. (co-founding company of SAF Tehnika) where during the periods from 1990 to 1992 and 1999 to 2000 he acted as Managing Director and General Director, respectively. Following Fortech’s merger with Microlink in 2000, and the establishment of SAF Tehnika, Normunds Bergs became CEO of SAF Tehnika and a Member of the Management Board of Microlink JSC. From 1992 to 1999 Bergs worked at the World Trade Center Riga, where he held the position of General Director and became a Member of the Board of Directors in 1998. He is a long-term president of Latvian Electrical Engineering and Electronics Industry Association. Normunds Bergs graduated Riga Technical University in 1986 with a degree in radio engineering.

Janis Bergs

Vice President of Sales and Marketing, Member of the Board

Owns 0 shares

Janis Bergs (born in 1970) has more than 20 years’ experience in IT industry. From 2000 until 2006 he served as Board member and later as CEO of the largest Baltic’s IT company Microlink. In 2006, he with other partners started company FMS that became leader in Latvian ERP market. In 2014 FMS was sold to largest ERP software company in Nordic VISMA. After acquisition FMS was renamed to Visma Enterprise and Janis worked there until January, 2015. Janis Bergs was Member of SAF Tehnika Council from November 2006 till August 2010, long term Chairman of Board of Latvian ICT Cluster and over 10 years served as Board member of Latvian IT and telecommunication association. Janis Bergs has graduated Riga Technical University as radio engineer and holds MBA degree from Riga Business School.

Didzis Liepkalns

CTO, Member of the Board

Owns 506 460 shares (17.05%)

Didzis Liepkalns, born in 1962, is member of the Board and Technical Director of SAF Tehnika. D. Liepkalns founded a private enterprise SAF in 1995 and co-founded the company SAF Tehnika in 1999. From 1985 to 1990 he worked as an engineer at the Institute of Electronic Engineering and Computer Sciences. D. Liepkalns graduated Riga Technical University in 1985 with a degree in radio engineering.

Zane Jozepa

CFO, Member of the Board

Owns 0 shares

Prior to joining the company in May 2015, Zane worked for SIA Citrus Solutions, the company providing design, building and maintenance services for engineering and technical systems and infrastructure, and being daughter company of the leading IT and telecommunications services provider in Latvia – Lattelecom. Initially she started as financial controller and become a Head of Finance in 2008 and a Board Member in 2012. Within the company, Zane Jozepa was responsible for organization and supervision of financial management, budgeting, including goal setting and control. She has been involved in new business development and strategy setting, processes of control and analysis. Besides she has experience as credit and price setting administration got in SIA CocaCola HBC Latvia from 2004-2006. Zane Jozepa holds bachelor’s degree in finance management from Banku Augstskola (BA School of Business and Finance). Zane Jozepa does not have SAF Tehnika shares.

Council

Juris Ziema

Chairman of the Council

Owns 258 762 shares (8.71%)

Juris Ziema, born in 1964, co-founder of the Company, is Vice-Chairman of the Council and Production Director. From 1998 to 1999 he worked as an engineer at Didzis Liepkalns' private enterprise SAF. From 1987 to 1999 J.Ziema worked as an engineer at the Institute of Electronic Engineering and Computer Sciences. J.Ziema has graduated Riga Technical University with a degree in radio engineering in 1987.

Andrejs Grisans

Vice-chairman of the Council

Owns 297 888 shares (10.03%)

Andrejs Grisans, born in 1957, is Member of the Council and Production Department Manager. A.Grisans has 20 years of experience in electronics and is one of the co-founders of SAF Tehnika. Prior to joining the Company, he owned and managed a private company specializing in electronic equipment engineering, production and distribution. From 1992 to 1999 A.Grisans was involved in entrepreneurial activities in the field of radio engineering. He worked as an engineer-constructor at the Institute of Polymer Mechanics from 1984 to 1992 and in the constructing bureau Orbita from 1980 to 1984. A.Grisans has graduated Riga Technical University with a degree in radio engineering in 1980.

Aira Loite

Member of the Council

Owns 7700 shares

Aira Loite, since 2016 is Chief Financial Officer at Torgy Mek Group's and at the same time (since May 2018) also Director of SIA "Torgy Baltic" Ltd. From 2007 to 2015 she has been the Member of the Board of JSC "SAF Tehnika" and Director of Finance and Administration, and Managing Director since the end of 2011. From 2006 to 2007 she was Director of Business Information and Control Division at Lattelecom. From 2000 to 2006 she was a Member of the Board of Microlink Latvia and Head of Finance and Administration. A. Loite has graduated the University of Latvia in 1988 and holds Bachelor degree in Mathematics and MBA from Salford University, UK, obtained in 2009.

Ivars Senbergs

Member of the Council

Owns 2 shares (0%)

Ivars Senbergs born in 1962, Member of the Council, also Chairman of the Board of SIA Juridiskais Audits, SIA Namipasumu parvalde, SIA Synergy Consulting, SIA Dzirnavu centrs, SIA IŠMU, SIA "RK Konsultācijas" and Member of the Supervisory Council of AS MFS bookkeeping. From 1999 until 2000 he worked as Finance and Administrative Director at SIA Fortech. I. Senbergs has graduated Faculty of Law, University of Latvia in 1986.

Sanda Šalma

Member of the Council

Owns 0 shares

Sanda Šalma, employed by Microsoft Latvia, currently Small and Medium Business Lead for Baltic countries. From 2010 to 2012 worked for a developer company RIX Technologies, participated in the work group of Latvian IT Cluster. From 2008 to 2010 was Citizenship & Education Project Lead at Microsoft Latvia. From 2000 to 2006 she was Sales Account Manager at Baltic Transshipment Center sales in Baltics and St. Petersburg. She has graduated The University of St.Petersburg and holds BSc in Psychology and MBA from RISEBA and Salford University, UK.

Zane Jozepa

Press releases

SAF Tehnika has successfully participated in “WISPAPALOOZA 2018”

SAF Tehnika Consolidated Interim Report for Q3 and 9 months of financial year 2017/2018

For Q3 of the FY 2017/2018, the Group's unaudited consolidated net turnover was 2.92 million euros, which is by 23%, or 860 thousand euros less than in Q3 of the FY 2016/2017, and by 18% less than in Q2 this year. The Group closed Q3 with the loss of 352 thousand euros (unaudited).

Vents Lācars joint proprietor, vice-president of business development and chairman of the Council of JSC “SAF Tehnika” has passed away

In deep sorrow, we inform that joint proprietor, vice-president of business development and chairman of the Council of JSC “SAF Tehnika” Vents Lācars has passed away after a severe illness.

SAF Tehnika has successfully participated in exhibition “NAB Show 2018”

SAF releases next generation split-mount solution – PhoeniX G2

SAF Tehnika has successfully participated in exhibition “IWCE Expo 2018”

SAF Tehnika has successfully participated in exhibition "HortiContact GO 2018 (GO)"

Members of the board

Normunds Bergs

Janis Bergs

Didzis Liepkalns

Zane Jozepa

Council

Juris Ziema

Andrejs Grisans

Aira Loite

Ivars Senbergs

Sanda Šalma

Documents

Normunds Bergs CEO, Chairman of the Board Owns 289 377 shares (9.74%) Normunds Bergs, born in 1963, is Chairman of the Board and Chief Executive Officer of SAF Tehnika JSC. Bergs is one of the founders of Fortech Ltd. (co-founding company of SAF Tehnika) where during the periods from 1990 to 1992 and 1999 to 2000 he acted as Managing Director and General Director, respectively. Following Fortech’s merger with Microlink in 2000, and the establishment of SAF Tehnika, Normunds Bergs became CEO of SAF Tehnika and a Member of the Management Board of Microlink JSC. From 1992 to 1999 Bergs worked at the World Trade Center Riga, where he held the position of General Director and became a Member of the Board of Directors in 1998. He is a long-term president of Latvian Electrical Engineering and Electronics Industry Association. Normunds Bergs graduated Riga Technical University in 1986 with a degree in radio engineering.
	Janis Bergs Vice President of Sales and Marketing, Member of the Board Owns 0 shares Janis Bergs (born in 1970) has more than 20 years’ experience in IT industry. From 2000 until 2006 he served as Board member and later as CEO of the largest Baltic’s IT company Microlink. In 2006, he with other partners started company FMS that became leader in Latvian ERP market. In 2014 FMS was sold to largest ERP software company in Nordic VISMA. After acquisition FMS was renamed to Visma Enterprise and Janis worked there until January, 2015. Janis Bergs was Member of SAF Tehnika Council from November 2006 till August 2010, long term Chairman of Board of Latvian ICT Cluster and over 10 years served as Board member of Latvian IT and telecommunication association. Janis Bergs has graduated Riga Technical University as radio engineer and holds MBA degree from Riga Business School.
Didzis Liepkalns CTO, Member of the Board Owns 506 460 shares (17.05%) Didzis Liepkalns, born in 1962, is member of the Board and Technical Director of SAF Tehnika. D. Liepkalns founded a private enterprise SAF in 1995 and co-founded the company SAF Tehnika in 1999. From 1985 to 1990 he worked as an engineer at the Institute of Electronic Engineering and Computer Sciences. D. Liepkalns graduated Riga Technical University in 1985 with a degree in radio engineering.
	Zane Jozepa CFO, Member of the Board Owns 0 shares Prior to joining the company in May 2015, Zane worked for SIA Citrus Solutions, the company providing design, building and maintenance services for engineering and technical systems and infrastructure, and being daughter company of the leading IT and telecommunications services provider in Latvia – Lattelecom. Initially she started as financial controller and become a Head of Finance in 2008 and a Board Member in 2012. Within the company, Zane Jozepa was responsible for organization and supervision of financial management, budgeting, including goal setting and control. She has been involved in new business development and strategy setting, processes of control and analysis. Besides she has experience as credit and price setting administration got in SIA CocaCola HBC Latvia from 2004-2006. Zane Jozepa holds bachelor’s degree in finance management from Banku Augstskola (BA School of Business and Finance). Zane Jozepa does not have SAF Tehnika shares.

Juris Ziema Chairman of the Council Owns 258 762 shares (8.71%) Juris Ziema, born in 1964, co-founder of the Company, is Vice-Chairman of the Council and Production Director. From 1998 to 1999 he worked as an engineer at Didzis Liepkalns' private enterprise SAF. From 1987 to 1999 J.Ziema worked as an engineer at the Institute of Electronic Engineering and Computer Sciences. J.Ziema has graduated Riga Technical University with a degree in radio engineering in 1987.
	Andrejs Grisans Vice-chairman of the Council Owns 297 888 shares (10.03%) Andrejs Grisans, born in 1957, is Member of the Council and Production Department Manager. A.Grisans has 20 years of experience in electronics and is one of the co-founders of SAF Tehnika. Prior to joining the Company, he owned and managed a private company specializing in electronic equipment engineering, production and distribution. From 1992 to 1999 A.Grisans was involved in entrepreneurial activities in the field of radio engineering. He worked as an engineer-constructor at the Institute of Polymer Mechanics from 1984 to 1992 and in the constructing bureau Orbita from 1980 to 1984. A.Grisans has graduated Riga Technical University with a degree in radio engineering in 1980.
Aira Loite Member of the Council Owns 7700 shares Aira Loite, since 2016 is Chief Financial Officer at Torgy Mek Group's and at the same time (since May 2018) also Director of SIA "Torgy Baltic" Ltd. From 2007 to 2015 she has been the Member of the Board of JSC "SAF Tehnika" and Director of Finance and Administration, and Managing Director since the end of 2011. From 2006 to 2007 she was Director of Business Information and Control Division at Lattelecom. From 2000 to 2006 she was a Member of the Board of Microlink Latvia and Head of Finance and Administration. A. Loite has graduated the University of Latvia in 1988 and holds Bachelor degree in Mathematics and MBA from Salford University, UK, obtained in 2009.
	Ivars Senbergs Member of the Council Owns 2 shares (0%) Ivars Senbergs born in 1962, Member of the Council, also Chairman of the Board of SIA Juridiskais Audits, SIA Namipasumu parvalde, SIA Synergy Consulting, SIA Dzirnavu centrs, SIA IŠMU, SIA "RK Konsultācijas" and Member of the Supervisory Council of AS MFS bookkeeping. From 1999 until 2000 he worked as Finance and Administrative Director at SIA Fortech. I. Senbergs has graduated Faculty of Law, University of Latvia in 1986.
Sanda Šalma Member of the Council Owns 0 shares Sanda Šalma, employed by Microsoft Latvia, currently Small and Medium Business Lead for Baltic countries. From 2010 to 2012 worked for a developer company RIX Technologies, participated in the work group of Latvian IT Cluster. From 2008 to 2010 was Citizenship & Education Project Lead at Microsoft Latvia. From 2000 to 2006 she was Sales Account Manager at Baltic Transshipment Center sales in Baltics and St. Petersburg. She has graduated The University of St.Petersburg and holds BSc in Psychology and MBA from RISEBA and Salford University, UK.

Zane Jozepa

Press releases

SAF Tehnika has successfully participated in “WISPAPALOOZA 2018”

SAF Tehnika Consolidated Interim Report for Q3 and 9 months of financial year 2017/2018

For Q3 of the FY 2017/2018, the Group's unaudited consolidated net turnover was 2.92 million euros, which is by 23%, or 860 thousand euros less than in Q3 of the FY 2016/2017, and by 18% less than in Q2 this year. The Group closed Q3 with the loss of 352 thousand euros (unaudited).

Vents Lācars joint proprietor, vice-president of business development and chairman of the Council of JSC “SAF Tehnika” has passed away

In deep sorrow, we inform that joint proprietor, vice-president of business development and chairman of the Council of JSC “SAF Tehnika” Vents Lācars has passed away after a severe illness.

SAF Tehnika has successfully participated in exhibition “NAB Show 2018”

SAF releases next generation split-mount solution – PhoeniX G2

SAF Tehnika has successfully participated in exhibition “IWCE Expo 2018”

SAF Tehnika has successfully participated in exhibition "HortiContact GO 2018 (GO)"

Members of the board

Normunds Bergs

Janis Bergs

Didzis Liepkalns

Zane Jozepa

Council

Juris Ziema

Andrejs Grisans

Aira Loite

Ivars Senbergs

Sanda Šalma

Documents

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