SAF Tehnika raises consolidated turnover 47.8% in nine months of FY

• Published date: 11 May 2022

RIGA, May 11 (LETA) - During the first nine months of its 2021/2022 financial year SAF Tehnika telecommunications equipment maker turned over EUR 25.574 million, which is an increase of 47.8 percent against the first nine months of the financial year 2020/2021, while the group's consolidated profit grew 2.4 times on year to EUR 5.14 million, according to the group's consolidated interim statement to Nasdaq Riga.

The groups unaudited consolidated net turnover for the third quarter of the 2021/2022 financial year was EUR 8.607 million, an increase of 46 percent against the third quarter of financial year 2020/2021. The group closed the third quarter with EUR 1.649 million in unaudited profit.

ccording to the group's statement, SAF Tehnika turned over EUR 4.2 million in North and and Latin Americas, which made up 49 percent of the group's third-quarter turnover. Compared to the same quarter of the previous financial year, the turnover in this region increased by 9 percent.

The group's turnover in Europe and CIS countries amounted to 37 percent or EUR 3.2 million, which is 82 percent more than in the third quarter of the previous financial year. Turnover in the AMEA (Asia, Middle East, Africa) region grew fourfold compared to the corresponding quarter of the last financial year, making up 14 percent, or EUR 1.2 million.

In the reporting quarter, the group's products were sold in 62 countries.

The group's costs did not exceed the planned levels and were larger than a year ago as the staff of SAF Tehnika increased and investments were made in marketing activities in the existing and new market segments. The group continues to invest in the development of new products and modification of existing products.

The group's management said that in the third quarter, special emphasis was placed on raising awareness and competitiveness of the Aranet brand in global markets. A brand strategy and a new visual identity have been developed, along with a brand story in a video format and a new Aranet.com website that provides a much more...