1. The approval of the reports of the Board of Directors and Supervisory Council.
Decision: to approve the reports of the Board of Directors and the Supervisory Council for financial year 2021/2022.
2. The approval of the annual financial statements for financial year 2021/2022 and release the Board of Directors from responsibility for financial year 2021/2022.
Decision: to approve the consolidated and separate financial statements of “SAF Tehnika” JSC for financial year 2021/2022 and release the Group`s Board of Directors from responsibility for financial year 2021/2022.
3. Decision on the use of profit of the Company.
Decision:
(1) To pay in dividends 0.68 EUR (sixty- eight cents) per one SAF Tehnika JSC share or total amount of 2 019 722.40 EUR (two million nineteen thousand seven hundred twenty-two euros 40 cents);
- The date of record is 20 December, 2022.
- The date of payment is 21 December, 2022.
- Ex-date is 19 December, 2022.
(2) Keep the remaining amount of retained earnings 7 187 954.60 EUR (seven million one hundred eighty-seven thousand nine hundred fifty-four euros and 60 cents) as the retained earnings of SAF Tehnika JSC.
4. Appointment of the auditor for the financial year 2022/2023 and determination of the reward for the auditor.
Decision: Appoint “Potapoviča un Andersone” Ltd. as the auditor of the “SAF Tehnika” JSC for the financial year 2022/2023 and determine the maximum remuneration for the auditor of the Annual Reports for the financial year 2022/2023 in the amount of EUR 13’500 (thirteen thousand five hundred euros), excluding taxes set in the legislation. Authorize the Board of the Group to sign the contract with the elected auditor.
5. The approval of Management Board and Supervisory Council remuneration report for financial year 2021/2022
Decision: To approve the Management Board and Supervisory Council remuneration report for financial year 2021/2022.
Attachments: SAF_Balsojuma veidlapa_Voting form_LV_EN.docx
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 subsidiary “SAF North America” LLC. Company operates from Denver, CO, USA serving North American market.
Additional information:
Zane Jozepa
CFO, Member of the Board
zane.jozepa@saftehnika.com
www.saftehnika.com
JSC SAF Tehnika (NASDAQ:SAF1R) announces the establishment of a subsidiary SAF Tehnika Asia Pte Ltd in Singapore. The company will be wholly owned by JSC SAF Tehnika.
SAF Asia primary mission will be to provide customers in the Asia-Pacific region with custom-designed and efficient wireless data transmission and sensor solutions. Products and services are intended for both private and public companies that need to ensure high-quality wireless data transmission in telecommunications projects and industrial segments where the IoT ecosystem could be applied.
A/S SAF Tehnika board member Z. Jozepa informs that so far sales in the countries of the Asia and Pacific region were coordinated from Latvia. A closer presence is needed to promote business development in the mentioned region (especially in the IoT segment). The Asian market, which is vast and different from the markets learned so far, requires a much deeper understanding, presence, and relationship building.
"We are very happy about the company's board decision to establish this subsidiary. This will certainly help to improve SAF Tehnika's ability to provide strong support to local clients who need both individual consultations and specialized service solutions in cooperation with partner companies, and will promote SAF Tehnika's business development in this fast-growing market," adds sales director J. Isarovs.
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 subsidiary “SAF North America” LLC, which operates from Denver, CO, USA and serves the North American market.
Additional information:
Zane Jozepa
CFO, Member of the Board
zane.jozepa@saftehnika.com
www.saftehnika.com
In the fourth quarter of the financial year 2021/2022, the Group’s unaudited consolidated net turnover was 8.4 million euros, which is 2% more than in the fourth quarter of the FY 2020/2021. The Group ended the fourth quarter of the financial year 2021/2022 with a profit of EUR 824 thousand (unaudited). The unaudited consolidated result of the financial year 2021/2022 is profit of EUR 5.96 million.
The turnover of the region of the countries of North and Latin America amounted to 64%, or EUR 5.4 million. Compared to the same quarter turnover last financial year, the turnover increased by 7%.
The turnover of the region of Europe and the CIS countries is 28%, or EUR 2.3 million. Compared to the corresponding quarter of the last financial year, the turnover of Asia, Africa and the Middle East region decreased by 4% and accounts for 8% of total quarterly turnover (or EUR 675 thousand).
In the reporting quarter, the Group’s products were sold in 66 countries.
The Group’s expenditures did not exceed the planned volumes and were generally higher than in the same period a year earlier, which is due to the increase in the number of employees, investment in sales promotion in existing and new market segments. The Group continues to invest in the development of new products and modification of existing products.
The Group’s unaudited consolidated turnover for the financial year 2021/2022 was EUR 33.97 million, which is 35% more than the amount of revenue in the previous financial year.
The consolidated unaudited result of the financial year 2021/2022 is profit of EUR 5.96 million. The Group’s profit for the previous financial year 2020/2021 was EUR 3.88 million. The Group’s net cash balance at the end of the period was 2.8 million euros.In the 4th quarter of the financial year 2021/2022, EUR 856 thousand were invested in the acquisition of fixed assets (total EUR 1.68 million in the financial year).
In the final quarter of the financial year, in order to strengthen its position in the international market and promote brand and product recognition, SAF Tehnika participated in 16 international exhibitions, covering industries of different scale in the USA, Europe and Asia. At the same time, great emphasis was placed on digital marketing activities and e-commerce, promoting both brand awareness and increasing sales figures.
Since the outbreak of hostilities in Ukraine by Russia, the direct impact on the Group’s activities is relatively limited, but the uncertainty of the business environment has increased. The Group carefully assesses possible cost growth forecasts and potential risks. The Group’s operations are affected by the global shortage of various electronic components. Supply chains are becoming increasingly difficult – alternative transportation options increase delivery times and costs. As in times of global pandemic, the company regularly reviews procurement volumes and deadlines, and continues to accumulate inventory in order to be able to fulfil most of the orders within normal lead times. This applies to all SAF product families – microwave links, Spectrum Compact and Aranet.
The Group continues to explore market demand and problematic issues in order to be able to provide necessary product modifications, as well as continues investments in product development. The goal of the Company is to stabilize sales levels to ensure a positive net result in the long term.
Attachment: 12M FY21_22_SAF_results ENG.pdf
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, USA serving North American market.
Additional information:
Zane Jozepa
CFO, Member of the Board
zane.jozepa@saftehnika.com
www.saftehnika.com
