According to the agreement No. SKV-L-2016/152 concluded between „SAF Tehnika” JSC and government institution „The Investment and Development Agency of Latvia” of a project „Participation of „SAF Tehnika” JSC in international exhibitions”,on November 13-15 company exhibited at AfricaCom 2018 in Cape Town, South Africa.
During the exhibition SAF Tehnika presented Integra, Spectrum Compact product series and Aranet IoT solutions. Visitors of „SAF Tehnika” stand were mainly from Africa’s southern region countries.
According to the agreement No. SKV-L-2016/152 concluded between „SAF Tehnika” JSC and government institution „The Investment and Development Agency of Latvia” of a project „Participation of „SAF Tehnika” JSC in international exhibitions”, on October 08 – 12, 2018 the company exhibited at “WISPAPALOOZA 2018” which took place in Rio All-Suites Hotel & Casino, Las Vegas.
During the exhibition „WISPAPALOOZA 2018" there were presented Integra and Spectrum Compact product series. Visitors of „SAF Tehnika” stand were mainly from different regions of USA and the main interest was about our Integra product serie.
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.