In the second quarter of the financial year 2024/2025, the Group’s unaudited consolidated net turnover was 7 million euros, which is by 21% less compared to the second quarter of the financial year 2023/2024. The Group closed the 2nd quarter of the financial year 2024/2025 with a profit of EUR 228 thousand (unaudited). The consolidated unaudited result of 6 months of the financial year 2024/2025 is a profit of EUR 1 million.
The turnover of the North America and Latin America region amounted to 60%, or EUR 4.2 million. Compared to the same quarter of the previous financial year, the turnover has decreased by 22%.
The European region accounted for 36% of the turnover, or EUR 2.5 million, which is 18% less than in the second quarter of the previous financial year. Turnover in the Asia, Africa, and Middle East region has decreased by 35% compared to the corresponding quarter of the previous financial year, accounting for 4% of the total quarterly turnover (or EUR 314 thousand). Fluctuations in quarterly turnover are influenced by the completion of individual projects. Furthermore, Q2 of the previous financial year was the best-performing quarter of FY 2023/2024.
In the reporting quarter, the Group’s products were sold in 70 countries.
The Group’s costs did not exceed the planned levels, and The Group continues to invest in the development of new products and product modifications.
The Group’s unaudited consolidated net turnover for 6 months of the financial year 2024/2025 was EUR 15.57 million, which is a 9% increase compared to the revenue volume in the last financial year.
The Group closed the 2nd quarter of the financial year 2024/2025 with a profit of EUR 228 thousand (unaudited). The consolidated unaudited result for the first six months of the 2024/2025 financial year is a profit of EUR 1.04 million. The Group’s result for the six months of the 2023/2024 financial year was a loss of EUR 950 thousand.
Although hostilities in Ukraine do not have a direct impact on the Group’s activities, the general uncertainty in the business environment remains. The Group continues to monitor forecasts of possible cost increases and assess potential risks. The company regularly reviews procurement volumes and deadlines, and continues to provide material reserves in order to be able to execute most of the orders in short delivery terms. This applies to all SAF product families – microwave links, spectrum analyzers and the Internet of Things (IoT).
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 develops IoT solutions for both business and consumer segments, diversifying its product line, creating higher added value for SAF Tehnika product offerings, and increasing the Group’s revenue. The goal of the Company is to stabilize sales levels to ensure a positive net result in the long term.
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
