SAF Tehnika is a progressive, socially responsible and financially transparent company that has implemented and strictly follows the principles of good corporate governance. We aim to optimize our corporate organization and transparency, as well as improve the quality of the information publicly shared by SAF Tehnika, thus increasing the desirability of our shares both for local and international investors, and substantiating the trustworthiness of our business. SAF Tehnika is being listed on NASDAQ Riga under the symbol SAF1R.
Zane Jozepa
CFO
Investor relations
Phone: +371 67046840
e-mail:
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.
Press releases
Newsletter December 2013
01.12.13.
Click on the image below to read SAF news from December 2013.
Decisions adopted at the annual shareholder meeting on 29th November 2013
29.11.13.
1. Approve the reports of the Board of Directors and the Supervisory Council for financial year 2012/2013.
2. Approve the annual report and consolidated report of “SAF Tehnika” JSC and release the Board of Directors from responsibility for financial year 2012/2013.
3. Cover the losses of the “SAF Tehnika” JSC incurred in financial year 2012/2013 in amount of LVL 14’571 (fourteen thousand five hundred seventy one Latvia Lats ) by retained earnings from previous periods. Retain the part of undivided profit from previous periods in amount of LVL 2’221’583 (two million two hundred twenty one thousand five hundred eighty three Latvia Lats) as retained earnings.
4. Appoint KPMG Baltics SIA as the auditor of the “SAF Tehnika” JSC for the financial year 2013/2014 and determine the maximum remuneration for the auditor of the Annual Reports for the financial year 2013/2014 in the amount of EUR 10’100 (ten thousand one hundred EUR), not including taxes provided by the legislative acts. Authorize the Board to sign the contract with the elected auditor for audit of the Annual Reports of „SAF Tehnika” JSC for the financial year 2013/2014.
SAF Tehnika has successfully participated in exhibition AfricaCom 2013
21.11.13.
According to the agreement No. L-ĀTA-13-1718 (project No. ĀTA/2.3.1.1.1./13/54/036) concluded on 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 11-13, 2013 the company exhibited at “AfricaCom 2013” which took place in Cape Town, South Africa.
During the exhibition SAF Tehnika presented FreeMile, Lumina, Integra and Spectrum Compact product lines. The biggest interest from visitors was shown about CFIP Lumina and FreeMile 5.8. Visitors of „SAF Tehnika” stand were mainly from Africa’s southern region countries. „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 100 countries worldwide. „SAF Tehnika” has been listed on NASDAQ OMX Riga since 2004.
Case study: Antenna Adjustment Using Spectrum Compact
20.11.13.
Draft resolutions of ordinary shareholder's meeting on 29th of November of SAF Tehnika
13.11.13.
Draft resolutions of ordinary shareholder's meeting on 29th of November of SAF Tehnika JSC can be found in pdf document seen below.
Additional information: Aira Loite COO, Member of the Board +371 67 046 840 Aira.Loite@saftehnika.com
SAF Tehnika Consolidated Interim Report for Q1 of financial year 2013/2014 (1st July 2013 - 30th September 2013)
06.11.13.
The „SAF Tehnika” Group’s non-audited net sales for the first quarter of financial year 2013/14 were 2.34 million LVL (3.41 million EUR), increasing by 25% compared to the first quarter of the previous financial year and being by 9% higher than sales in the previous quarter - Q4 of FY 2012/2013.
Comparing sales results with the first quarter of the financial year 2012/2013, substantial sales increase (by 60%) was achieved in Europe, CIS region where the Group has stable, local partner network supported, customer base and demand for almost all products from Group’s portfolio.
Sales in Asia Pacific, Africa, Middle East increased by 27% showing growing trend already fifth quarter in a row, but results from the Americas were on the same level as year before, but lower than in previous quarters as deliveries of some large orders have been postponed to next quarter due to delays in project realization on customers side.
The consolidated net profit of the Group for the first quarter of 2013/14 financial year was 91 thousand LVL (130 thousand EUR), which represents an increase of 212 thousand LVL (301 thousand EUR), compared with the same quarter in the previous financial year.
In 2013/2014 there are no changes in the Group’s main focus on developing the Integra product line and working on specific niche products with the goal to satisfy ever increasing demand for efficient, qualitative, price attractive, high capacity data transmission products in the wide frequency range. The Group has set tasks to enlarge customer base and regain higher sales and profitability levels.
The Group remains financially stable and with positive outlook for the next operating periods, however the Board of the Group avoids giving any forward-looking sales and financial result statements.
Additional information: Aira Loite COO, Member of the Board +371 67 046 833 Aira.Loite@saftehnika.com
SAF Newsletter November 2013
01.11.13.
Click on the image below to read SAF news in November 2013.
Acquisition and loss of significant share
29.10.13.
AS „SAF Tehnika” informs that on 28th October 2013 it has received 2 announcements from private person Ivars Senbergs. The announcement dated 04.02.2013 informs that Ivars Senbergs has increased his holding in AS „SAF Tehnika” share capital on 4 February, 2013 by purchasing additional shares of AS „SAF Tehnika”, keeping in possession 156558 or 5.27% of AS „SAF Tehnika” share capital. The announcement dated 6 September, 2013 informs that Ivars Senbergs has lost his holding of 5.27% (156556 shares) in AS”SAF Tehnika” share capital on 4 September, 2013.
Additional information: Aira Loite COO, Member of the Board +371 67 046 833 Aira.Loite@saftehnika.com
Audited statements and Corporate Governance report of SAF Tehnika for financial year 2012/2013
29.10.13.
SAF Tehnika” publishes its audited consolidated and non consolidated financial statements for financial year 2012/2013 according to Section 56th, 5th paragraph of „Law on the Financial Instruments Market”.
Net turnover of the “SAF Tehnika” Group which consists of SAF Tehnika AS (hereinafter – the Parent) operating from Riga, Latvia, a wholly owned subsidiary “SAF North America LLC” and a joint-venture company “SAF Services LLC” where the Parent holds 50% of the company’s shares, in the 2012/ 2013 financial year was LVL 9.38 million (EUR 13.34 million) which represents a decrease by 3% comparing to the previous financial year. While the reporting year can be characterized by increasing global competition between producers of microwave transmission equipment, the Group managed to keep its customer base, meanwhile also attracting new customers by offering products according to market demands and highest quality standards. In addition, the Group developed customized solutions for particular client needs and provided support during installation and commissioning stages. Delays in the Group’s supply chain and customer payments forced certain shipments to be put on hold, thus, affecting expected sales result. Export represented 98.41% of turnover amounting to LVL 9.23 million (EUR 13.13 million). During the reporting period the products of the Group were exported to 86 countries in the world.
“SAF Tehnika” has retained financial stability. The audited net cash flow of the Group for 12 months was positive and amounted to LVL 646 thousand (EUR 919 thousand).
During the reporting year the Group made investments in the amount of LVL 342 thousand (EUR 487 thousand) to acquire property, plant and equipment such as IT infrastructure, production and research equipment, as well as software and other licenses in order to improve manufacturing, R&D, testing and other company-wide processes. In addition Group invested in products certification.
The Group’s financial result of 2012/ 2013 was a loss of LVL 30 thousand (EUR 42 thousand).
The Parent company’s financial result for 2012/2013 was a loss of LVL 15 thousand (EUR 21 thousand).
The main difference between Consolidated Interim Report for financial year 2012/2013 (published on 14/08/2013) and audited consolidated Financial statement was due to corrections in income recognition for salescases where significant risks connected with ownership and compensation for equipment sold according to Incoterms delivery conditions were transferred to a customer after end of financial year. The impact of this change was decrease in annual turnover by 164 thousand LVL (233 thousand EUR) which will be recognized in turnover of the first quarter of financial year 2013/2014 as well as respective change in expenses part and net result.
Aira Loite COO, Member of the Board +371 67 046 833 Aira.Loite@saftehnika.com
SAF Tehnika has successfully participated in exhibition WISPAPALOOZA
24.10.13.
According to the agreement No. L-ĀTA-13-1718 (project No. ĀTA/2.3.1.1.1./13/54/036) concluded on 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 14-18, 2013 the company exhibited at “WISPAPALOOZA” which took place in Las Vegas, USA.
During the exhibition „WISPAPALOOZA” there were presented Integra, Spectrum Compact and Lumina product lines. Visitors of „SAF Tehnika” stand were mainly from different regions of USA and the main interest was about our newest product Integra.
„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 100 countries worldwide. „SAF Tehnika” has been listed on NASDAQ OMX Riga since 2004.
SAF Tehnika has successfully participated in exhibition CNX 7
24.10.13.
According to the agreement No. L-ĀTA-13-1718 (project No. ĀTA/2.3.1.1.1./13/54/036) concluded on 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 14-15, 2013 the company exhibited at “CNX7” which took place in Frankfurt, Germany.
During the exhibition „CNX7” SAF presented SAF Services brand. Visitors of „SAF Tehnika” stand were mainly from Germany.
During the exhibition SAF Tehnika presented CFIP series products – CFIP Lumina FODU, CFIP-108 FODU, CFIP Marathon FIDU, CFIP PhoeniX M Split Mount, CFIP PhoeniX Split Mount, SAF FreeMile 5,8GHz MIMO as well as SAF FreeMile 17/24GHz FODU and our newest products Integra and Spectrum Compact.
„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 100 countries worldwide. „SAF Tehnika” has been listed on NASDAQ OMX Riga since 2004.
For the attention of shareholders of SAF TEHNIKA JSC
23.10.13.
The Board of Directors of “SAF Tehnika” JSC (Reg.No.40003474109, legal address: 24a, Ganibu dambis, Riga, LV-1005, Latvia) informs that it convenes a regular shareholders’ meeting on 29th November 2013 at 10.00 a.m., at “SAF Tehnika” JSC meeting room (24a, Ganibu dambis, Riga, Latvia).
Agenda:
1. Approval of report of the Board of Directors and the Supervisory Council; 2. Approval of the annual report for the year 2012/2013 and release of the Board of Directors from responsibility for financial year 2012/2013; 3. Covering of losses incurred in FY 2008/2009 by undivided profit from previous periods and retaining the part of undivided profit from previous periods as retained earnings; 4. Appointment of the auditor for the financial year 2013/2014.
Shareholders and their representatives can submit draft decisions regarding the issues of the agenda to be discussed on the shareholders meeting until 8th November 2013 at “SAF Tehnika” administration (Ganibu dambis 24a, Riga, LV-1005) every working day from 9.00 a.m. to 5.00 p.m.
Draft resolutions on the issues of the agenda to be discussed on the shareholders meeting will be published on 13th November 2013. Draft resolutions will be available also on company’s webpage www.saftehnika.com, as well as at “SAF Tehnika” administration (Ganibu dambis 24a, Riga, LV-1005) every working day from 9.00 a.m. to 5.00 p.m.
Total number of shares with a right to vote amounts to 2 970 180 (two million nine hundred seventy thousand one hundred eighty).
Shareholders can participate personally or delegate a representative.
Only persons or entities which are shareholders on the date of record will be entitled to participate in the shareholders’ meeting. The date of record is 21 November 2013.
Registration of participants will take place at the venue on the day of the shareholders’ meeting – on 29th November 2013 from 9.30 a.m. until 10.00 a.m.
Shareholders at the registration have to present passport or other identification document.
Representatives of shareholders at the registration have to show a power of attorney witnessed by a notary or a power of attorney legally equal to that and passport or other verifying document. The template of the power of attorney is available on company’s webpage www.saftehnika.com.
The Board of “SAF Tehnika” JSC
SAF Newsletter October 2013
03.10.13.
Click on the image below to read our October's newsletter!
SAF Tehnika has signed an agreement on participation at international exhibitions in 2013 and 2014
03.10.13.
On October 2, 2013 „SAF Tehnika” JSC and government institution „The Investment and Development Agency of Latvia” concluded agreement No. L-ĀTA-13-1718 (project No. ĀTA/2.3.1.1.1./13/54/036) regarding implementation of the project "Participation of "SAF Tehnika" JSC in international exhibitions" co-financed by European Regional Development Fund. Project expenses estimate altogether - 90 187.83 LVL.
Within the project „SAF Tehnika” will participate in 7 different scales (both international and regional) IT and Telecommunications exhibitions:
• NigeriaCom 2013, September 17-18, 2013, Lagos, Nigeria; • cnX7, October 14-15, 2013, Frankfurt, Germany; • WISPAPALOOZA, October 14-18, 2013, Las Vegas, USA; • AfricaCom 2013, November 12-14, 2013, Cape Town, Republic of South Africa; • Animal Farm 2014, February 4–5, 2014, Salt Lake City; USA; • CeBIT 2014, March 10-14, 2014, Hannover, Germany; • Svyaz ExpoComm 2014, May 13-16, Moscow, Russia
By participating in exhibitons, the company has its goals - to increase sales of “SAF Tehnika” products and to enchance brand awareness worldwide, the same as to strengthen cooperation with existing partners and to attract new clients.
„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 100 countries worldwide. „SAF Tehnika” has been listed on NASDAQ OMX Riga since 2004.
SAF Tehnika has successfully participated in exhibition NigeriaCom 2013
03.10.13.
According to the agreement No. L-ĀTA-13-1718 (project No. ĀTA/2.3.1.1.1./13/54/036) concluded on 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 2, 2013 the company exhibited at “NigeriaCom 2013” which took place in Lagos, Nigeria.
During the exhibition „NigeriaCom 2013” there were presented Spectrum Compact, FreeMile 5.8GHz, CFIP 108 and Lumina product lines. Visitors of „SAF Tehnika” stand were mainly from Africa region, particularly Nigeria.
„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 100 countries worldwide. „SAF Tehnika” has been listed on NASDAQ OMX Riga since 2004.
Alpha Omega Wireless, Inc. (“AO Wireless”) President, Joe Wargo, recently traveled to Riga, Latvia to build stronger business relationships with SAF Tehnika. The purpose of this trip was to have stretegic meetings with SAF Leadership, meet their engineering and product management teams, tour their R&D and manufacturing facilities, and to receive first hand training on new and exciting licensed microwave products.
President Joe Wargo says, “I was very excited to be able to travel to Riga to see first hand the quality of the SAF Tehnika organization. It is vital to Alpha Omega Wireless, Inc. that we represent only the wireless backahul industry best of breed products in the point to point wireless and licensed microwave backhaul space to our clients. Being able to tour and inspect the quality of a manufacture's R&D, testing, and manufacturing gives us a greater ability to ensure that we are recommending the best point to point wireless backahul solutions but also to make sure we have the most highly trained teams performing wireless installation.
SAF Tehnika has been building extremely high quality outdoor wireless microwave radio products for us for years. The majority of of our business is performing wireless network desing, path engineering, and wireless installation of licensed microwave, point to point backhaul for our clients. The quality of a point to point link depends highly on the quality of microwave radios you use. We have perfromed wireless installation of hundreds of SAF licensed wireless backhaul products with out any failures. Point to point backhaul using lincesed wireless is typically our clients' primary broadband connectivity that demands reliability.
I was thouroughly impressed with the high quality of R&D, testing, and manufacturing that SAF provides. I have never seen so much attention to detail performed from anyone else. I am also extremely excited about their new inovative products being launched that will benifit our clients with their point to point wireless needs."
Kristaps Rikāns, Managing Director for the USA says, "SAF Tehnika is unique company in microwave radios manufacturing world. We keep all our production, R&D and engineering located in one location in the heart of Europe. We were very happy to invite our long-term valuable partner Alpha Omega Wireless to visit our headquarters and see every step of product development, production and testing themselves and enjoy our beautiful country.”
About Alpha Omega Wireless, Inc.
Alpha Omega Wireless is a leading integrator of complete end-to-end wireless backhaul networking technology and solutions. Alpha Omega Wireless provides wireless site surveys, feasibility studies, engineering, spectrum analysis, path calculations, design, wireless installation, equipment sales, radio repair and maintenance, support, troubleshooting, and ongoing management & monitoring of point to point wireless links, point to multipoint wireless systems, WiMax backhaul, LTE wireless communication, Wi-Fi, and wireless mesh. As well as SCADA telemetry radio, wireless video surveillance, and indoor RF. Alpha Omega Wireless works with unlicensed wireless Ethernet bridges and licensed microwave links.
About SAF Tehnika SAF Tehnika is among the world's top microwave carrier-class point to point radio manufacturers, with capacities up to Gbps+ solutions meeting ETSI, FCC and Industry Canada standards. SAF Tehnika is committed to providing an exceptional customer adapted wireless solution that empower carriers and servicers the level of connectivity demanded in today's competitive environment. SAF Tehnika has installation in nearly 100 countries around the world in the most challenging of environments and extreme temperatures. www.saftehnika.com
SAF radios passes seismic resistance tests for deployment in Ukrainian nuclear power plants
18.09.13.
SAF Lumina radios have passed tests for seismic resistance and are now approved for deployment in Ukrainian Nuclear power plants and places with high seismic activity.
SAF Tehnika (Latvia) together with Ukrainian Technological Process Instrumentation & Control System developer Westron carried out testing of SAF CFIP 11 Lumina radios on compliance with standards ETSI EN 300 019-1-4 and ETSI EN 300 019-1-3 in part of seismic resistance.
Test results from Ukrainian Testing and certification center confirmed that SAF Tehnika’s equipment, deployed in Ukrainian Nuclear Power Plants (NPP), supports all the rigid demands imposed on it and is ready to guarantee data transmissions even in extreme emergency situations such as earthquakes.
SAF radios are being used for data transmissions to the Crisis Centers of South-Ukrainian NPP in Information Storage System for Design-Basis and Beyond Design-Basis Accident Conditions ("Black Box") that is being implemented by Westron LLC at SUNPP.
Westron (Kharkov, Ukraine) specializes in performance of totality of works on Technological Process Instrumentation & Control (I&C) Systems purposed for industrial enterprises, including I&C design solutions, manufacture, tests, deliveries, implementation, and maintenance for nuclear and fossil power plants and various applications in industry. The systems developed and manufactured by Westron operate successfully in all Ukrainian NPPs. Westron performs a considerable scope of works on I&C systems for Units in Ukraine, Russia, Armenia, Czechia, Bulgaria, Sweden, USA, Iraq and other countries.
SAF Tehnika is one of the leading global microwave point-to-point radio manufacturers and distributors also specializing in customized user-friendly solutions and services covering all microwave spectrum bands. SAF Tehnika JSC is company with many year experience in delivering highest quality products and services which are being distributed in more than 100 contries worldwide.
SAF Tehnika and Performant Networks Announce Wireless Solution Interoperability
16.09.13.
RIGA, LATVIA and MONTREAL, CANADA -- SAF Tehnika, a leading designer and manufacturer of point-to-point microwave data transmission equipment, and Performant Networks, pioneers in dynamic performance optimization solutions for wireless backhaul networks, have completed interoperability testing using the Performant Router-Free Link Optimization (R-FLO®) solution and SAF Tehnika radio systems.
Announcement on transfer of capital shares
10.09.13.
SAF Tehnika JSC informs that on 09.09.2013 an announcement from Koka zirgs LLC (Reg. No. 40103705498) was received informing that on 04.09.2013 the company has purchased 156556 shares (5.27% of share capital) of SAF Tehnika JSC.
The announcement from Koka zirgs LLC was submitted by Normunds Bergs, Chairman of the Board, owner of 48.75% share capital of Koka zirgs LCC, meanwhile also the Chairman of the Board of SAF Tehnika JSC.
Aira Loite, Member of the Board AS SAF Tehnika,
LEO PĒTĪJUMU CENTRS noslēdzis līgumu ar LIAA
10.09.13.
SIA "LEO PĒTĪJUMU CENTRS" ir noslēdzis 2011. gada 11. aprīļa līgumu Nr. L-KC-11-0006 ar Latvijas Investīciju un attīstības aģentūru par projekta "Latvijas elektronisko un optisko iekārtu ražošanas nozares kompetences centrs" īstenošanu, ko līdzfinansē Eiropas Reģionālās attīstības fonds.
Starp AS "SAF Tehnika" un SIA "LEO pētījumu centrs" ir noslēgti divi līgumi:
1) Līgums par individuālā pētījuma Nr.1.19. „Eksperimentālās izstrādes par datu pārraidi radio frekvenču diapazonos virs 60GHz” īstenošanu; 2) Līgums par individuālā pētījuma Nr.1.20. „INTEGRA-jaunas paaudzes datu pārraides risinājumi” īstenošanu.
SAF Tehnika projektus sāk īstenot no 01.08.2013.
Newsletter September 2013
06.09.13.
Hello from SAF!
As usual in September starts the exhibition season and SAF will participate in two events during that month. We are also glad to announce a few eagerly awaited updates of our products and present a case study about creation of microwave connectivity for thousands of Native americans during their canoe journey Paddle to Quinault. Want to find out more? - Check out our September’s newsletter!
SAF Tehnika Consolidated Interim Report for Q4 and for 12 months of financial year 2012/13 (July 1, 2012 – June 30, 2013)
14.08.13.
SAF Tehnika's (further Group) non-audited net sales for the fourth quarter of financial year 2012/13 were 2.35 million LVL (3.34 million EUR), increasing by 9% compared to the fourth quarter of the previous financial year meanwhile declining by 9% compared to the previous reporting quarter of the current financial year (Q3 FY 2012/13).
Revenue generated in European, CIS regions decreased by 21% or 0.2 million LVL (0.29 million EUR) comparing to Q3 FY 2012/13 at the same time posting drop (30%) against the respective reporting quarter of the previous financial year. The regions accounted for 33% from the total Groups’ revenue.
Sales in Asia, Middle East and Africa increased by 42% or 0.19 million LVL (0.27 million EUR) from the previous reporting quarter of the current financial year at the same time showing a 36% year-to-year growth. The regions generated 28% from the total turnover of the reporting quarter.
Sales in the Americas regions declined by 18% or 0.21 million LVL (0.3 million EUR) compared to the previous reporting quarter of the current financial year while still maintaining positive growth trend by posting a 62% year-to-year growth. The region retained a stable 40% share from the total group’s turnover of the reporting quarter.
The Group ended fourth quarter of 2012/13 financial year with a net profit of 14 838 LVL (21 113 EUR), which represents a decrease of 22 919 thousand LVL (32 612 EUR) when compared to respective quarter of previous financial year.
Meanwhile the Groups unaudited net loss for 2012/13 financial year’s 12 months was -5 913 LVL (-8 413 EUR).
The Group has diversified its portfolio to become a unique market player among the global point-to-point microwave manufacturers, not only providing equipment and managed services, but also providing solution for radio field engineers with the launch of the SAF Spectrum Compact. Meanwhile the Group prepares for full market enrollment of the announced Integra product, which is designed to be system optimized for small cell backhaul and other dense urban applications.
The Group remains financially stable and with positive outlook for the next operating periods, however the Board of the Group avoids giving any forward-looking sales and financial result statements.
Additional_information: Aira Loite Member of the board, COO Phone: +371 67046833 Mail: Aira Loite
Freemile joins SAF Tehnika Gigabit product family
12.08.13.
European microwave radio manufacturer SAF Tehnika is proud to announce that one of our most popular products – SAF Freemile 5.8 GHz 100Mbps FDX radio – has received an eagerly awaited upgrade.
Now the Freemile multiple input/multiple output (MIMO) radios boast improved data transmission speed as they come equipped with a gigabit interface, removing the 100Mbps limit of the previous version.
The other important feature is a Power over Ethernet, compliant to 802.3af Standard, which allows to power the radio using PoE switch or injector.
We also reduced Freemile radio power consumption down from 15W to 10W, and added a USB serial port for serial connection. Advantages of the new 5.8GHz Freemile Gigabit version, when compared to the 5.8GHz 100Mbps FDX version:
• Aggregated throughput is now up to 210Mbps • Improved throughput for asymmetrical traffic. • Improved surge and overvoltage protection • Any polarity can now be grounded • USB interface port for serial connection • Built-in standard active PoE chip complying with 802.3af standard. • Reduced power consumption - max 10W per unit (previously 15W).
SAF FreeMile 5.8 is a Licence Free 5.8GHz radio for Ethernet packet data transmission. Making use of ground breaking 2x2 MIMO technology, the SAF FreeMile 5.8 MIMO delivers real aggregated throughput capability of up to 210Mbps combined with high packets-per-second performance.
This product enables carrier-class point-to-point capability, ideal for dedicated access or backhaul applications (including VoIP or other small packet applications). SAF FreeMile 5.8 Gigabit presents leading proprietary software mechanisms to set the utmost standard in spectral efficiency.
SAF FreeMile 5.8 Gigabit product features an integrated dual-polarized antenna (or 2 N-type connectors for the 5-N product). Product showcases an array of advanced software mechanisms that provide optimal point-to-point connectivity for high throughput, long distance links. SAF’s proprietary FreeMile 5.8 MIMO PTP mechanisms utilize techniques such as Dynamic Time Division Duplexing (TDD) to dynamically allocate bandwidth in the direction needed, thus increasing link efficiency and greatly decreasing the impact that distance has on throughput of the link.
SAF Network management system (NMS) upgraded to Version 4.2
12.08.13.
SAF Tehnika Network Management System (NMS) has been recently upgraded to version 4.2 which includes an expanded set of useful features and software improvements.
NMS users can now use different “counters" to generate inner alarms, archive old data and store it on local drives, network drives or in a data warehouse (MySQL DBMS-driven). We have also included the possibility to generate reports based on device parameters or events. Another new feature allows for the user to select and pin up to three monitoring parameters for all network elements to the topological view. This will make your most important parameters easier accessible.
Version 4.2 updates include:
• Added counters for threshold processing which enables the NMS server to trigger inner alarms and send SNMP traps to higer-level NMS using North-bound interface, notifications in form of SMTP messages, SMS messages or push notifications to your Mobile NMS Client. • Automated data archiving and deletion from the NMS database for data, that is older than the user-set period of time. Archived items may be stored in database, CSV files and SQL scripts. • Generation of reports based on device parameters or events. Reports can be generated for the network elements selected by monitored segment (region/system) and device model. • Possibility to pin up to three most important monitoring parameters to network elements in topological view. • SNMPv2c support
SAF NMS is an integrated quality toolset consisting of hardware and software, used to monitor and administer a network, made of SAF designed microwave radio equipment, locally and remotely in convenient and user-friendly manner.
SAF NMS main functions: • Configuration and management of SAF network elements – Indoor and Outdoor units • Actual network status monitoring • Real-time updates on MACs (moves, adds and changes) • Online events and fault notification (customizable log file) • Easy-to-use graphical user interface (GUI)
SAF NMS is also available as a mobile application for Android smartphones. It is a handy and feature-rich tool that provides enhanced realtime overview of the actual equipment and network status via instant push-notification service.
Newsletter July 2013
31.07.13.
SAF Tehnika announces grand opening of US headquarters in Denver, USA
30.07.13.
SAF Tehnika, the Latvian-owned manufacturer of carrier-class point-to-point microwave radios, is expanding its business in North America and has announced the opening of the company’s US headquarters in Denver, Colorado on July 26.
In the five years since SAF Tehnika started its operations in the USA, the company has become one of the largest microwave vendors in North America. A company-owned warehouse in the States became a necessity for further growth, and was recently green-lighted by SAF’s top management.
Combining office and warehouse facilities, the new center of operations will help SAF improve its logistics as well as customer care in general, and generate feedback to the company’s headquarters and factory in Latvia, Europe. SAF’s US sales team will now be better equipped to help their partners and customers throughout the region.
SAF Tehnika’s West & Southeast USA sales manager Daniel White says:
“SAF has grown by leaps and bounds since my first interaction with them in 2008 when they were trying to break into the North America market. The opening of this office marks not only our continued success from our loyal partners, but SAF’s complete commitment to this market and its customers.”
SAF Tehnika offers a wide range of products for wireless communication and data transmission as well as network monitoring, with the most popular among them being the Lumina and Freemile radios, which guarantee uncompromised voice and data transmission, and the Spectrum Compact – a unique device created for microwave frequency band management.
The opening of SAF US headquarters coincides with the final development stage of the company’s latest and eagerly awaited product – SAF Integra.
Designed by the best Latvian radio engineers and programmers, Integra matches the highest industry standards, at the same time differing from rival products with a number of innovative features. This product was developed primarily with the end-users in mind, ensuring that software installation and maintenance tasks are as simple and user-friendly as possible. The Integra is cased in an ultra-light and technologically advanced material, integrating the radio part with an antenna and mounting hardware.
According to SAF Tehnika Sales and Marketing Vice president Edgars Ricevs, “We are convinced that with the help of Integra SAF will acquire a new customer segment, increasing our global marketshare”.
SAF Tehnika is a unique designer and manufacturer of point-to-point microwave data transmission equipment. Located in Northern Europe, SAF Tehnika managed to acquire and consolidate valuable locally available intellectual resources of the microelectronics industry and spread its presence to more than 100 countries all over the world, covering all relevant market segments within just a decade.
On July 1 SAF Tehnika was recognized by the Latvian exporting brand support movement The Red Jackets as one of the 25 best exporting Latvian companies.
The company also trades its stock in the official list of Baltic stock Exchange market NASDAQ OMX Riga.
Election of the Board of Directors
19.07.13.
On July 19, 2013 the Supervisory Council of SAF Tehnika JSC elected the existing Board of Directors to continue to be effective for another term. Normunds Bergs remains as the Chairman of the Board, Didzis Liepkalns and Aira Loite continues to act as Members of the Board. The previous term of the Board would expire on July 20, 2013.
Additional information: Aira Loite Member of the board, COO Phone: +371 67046833 e-mail: aira.loite@saftehnika.com
JSC SAF Tehnika obtains funding for a research project
09.07.13.
On 8th July 2009 JSC "SAF Tehnika" and state agency "Investment and Development Agency of Latvia" concluded agreement No.L-JPI-09-0002 (project No.JPI/2.1.2.2.1/08/01/0002) on the implementation of a project "Development of solutions for design of new-generation wireless digital microwave radio products", which is co-financed by European Regional Development Fund and Latvian national budget.
Project provides a co-funding for a scientific research performed by JSC "SAF Tehnika" with the aim to develop solutions for the improvement of microwave radio efficiency and for the reduction of production costs, as well as for more rational utilization of materials. The planned duration of the execution of the project is 18 months.
The project is co-financed by European Regional Development Fund:
SAF Tehnika has signed an agreement with LIDA for the CFIP Lumina mass production
01.07.13.
On the 18th of July, SAF Tehnika JSC has signed a project implementation agreement No. L-JPR-11-0062 (Project No. JPR/2.1.2.2.2/11/02/013) with Latvian Investment and Development Agency (LIDA) for the project "The start of product CFIP Lumina mass production", which is co-financed by European Regional Development Fund. Total project cost is 97 thousand LVL.
Within the framework of the project, the company will start the mass production of its latest product CFIP Lumina - high capacity data transmission equipment using fully external equipment model, whose hybrid manufacturing technology helps to use much more sophisticated measurement, control and testing tools during the entire manufacturing process and which are crucial to correspond to standarts of ETSI.
Within the framework of the project, the company is going to buy and deploy equipment for the final part of the production cycle to control manufacturing process and quality.
About CFIP Lumina CFIP Lumina systems are intended for Gigabit Ethernet backbone applications delivering up to 366 Mbps per radio. 2+0 aggregation is available for higher bandwidth user needs. Both single or dual, electrical and fiber optical interface versions are available, as well as hybrid version with 1 optical and 1 electrical port.
SAF Tehnika has successfully participated in largest industry exhibition in North America CTIA 2013
29.05.13.
According to the agreement No .L-ĀTA-12-1169 (project No. ĀTA/2.3.1.1.1./12/42/011) concluded on 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 May 21 – 23, 2013 the company exhibited at “CTIA 2013” which took place in Las Vegas, USA.
During the exhibition „CTIA 2013” there were presented CFIP and Freemile product lines of „SAF Tehnika”, as well as newest products of the company – handheld microwave spectrum analyzer Spectrum Compact and the SAF Integra - ultra light, energy efficient and powerful all-in-one carrier-grade microwave data transmission system. The biggest part of “SAF Tehnika” booth #2846 visitors at Tower Technology Summit Pavilion was existing and potential clients from North and Central America. The biggest attention was toward SAF Integra as innovative solution in microwave industry.
„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 100 countries worldwide. „SAF Tehnika” has been listed on NASDAQ OMX Riga since 2004.
SAF Tehnika Introduces Next Generation Carrier-grade System - Integra
21.05.13.
SAF Tehnika JSC (NASDAQ:SAF1R), one of the pioneers of compact full outdoor point-to-point microwave technology today announced the launch of Integra – ultra light, energy efficient and powerful all-in-one carrier-grade microwave data transmission system.
Integrais a natural step forward in the evolution of user friendly full outdoor microwave systems design. Integration of next generation microwave radio with high (ETSI Class 3) and super high (ETSI Class 4) performance antennas into asingle unit means less time spent on the installation site, better availability and reliability of the link even in densely served areas, all of which translates into a lower total costof ownership. The new Integra exemplifies an outstanding return on smart engineering - the synergy of high competence in radio electronics and materials science.
Perfect for small-cell, RAN and HetNet backhaul where aesthetics in a metropolitan area are a key concern, Integra delivers ambitious performance in a compact package never before available in licensed microwave market. Integra’s embedded software takes full advantage of its cutting edge network processor providing Synchronous Ethernet and 1588 v2 PTP support for LTE network builds, Layer 2 header compression and 256-bit AES encryption for public safety, government, and enterprise networks. Thanks to a convenient design and its solid functionality the Integra is an industry-unique, right-out-of-the-box microwave system with a superior radiation pattern and payload capacity of up to 420Mbps per channel / polarization.
Integra – by its form and specification – is created to be a proper building block for a variety of modern wireless networking applications. To stay advanced and competitive in the telecom world that will increasingly depend on seamless integration and interoperability of synchronization-sensitive systems, it is smart to invest in technology that takes the right direction.
Normunds Bergs, CEO & Chairman of the Board of SAF Tehnika: “Industry has new standards, demands higher capacities and lower price and SAF has a great solution for that. Integra will be just a first stage in a new product line, providing remarkably comfortable installation process and great capacity together with very attractive price.”
Some of the features of Integra: integrated antenna with next-generation microwave radio, industry leading compact form factor, easy to install, competitive price, with Synchronous Ethernet and IEEE 1588 v.2 PTP, up to QAM1024 etc.
Read more about Integra in SAF Tehnika web page or meet the whole SAF North America team at CTIA 2013 (Tower Technology Summit Pavilion - booth #2846) in Las Vegas, Nevada, USA on May 21st through 23rd.
SAF Tehnika JSC is an ISO certified wireless data transmission equipment manufacturer. The company’s products are produced in Latvia, European Union, and deployed in over 100 countries worldwide. SAF Tehnika has been listed on NASDAQ OMX Riga since 2004.
SAF Tehnika Consolidated Interim Report for Q3 of financial year 2012/13
08.05.13.
SAF Tehnika's (further Group) non-audited net sales for the third quarter of financial year 2012/13 were 2.57 million LVL (3.66 million EUR), increasing by 20% compared to the third quarter of the previous financial year. Meanwhile the sales remained on the same level only posting a slight 4% decrease when compared to the previous reporting quarter of the current financial year (Q2 FY 2012/13). The Group reached the financial results by continuing to supply existing projects as well as attracting new business in the strategic markets.
The European, CIS region retained stable sales levels and posted a 8% growth comparing to Q2 FY 2012/13 at the same time growing significantly (20%) against the respective reporting quarter of the previous financial year.
Due to lower activity in existing projects and political instability in markets where Group is present the revenue from Asia, Middle East and Africa region decreased by 31% or 0.2 million LVL (0.29 million EUR) from the previous reporting quarter of the current financial year, meanwhile also showing a 38% year-to-year sales drop. Consequently the region generated only 18% from the total turnover of the reporting quarter, opposed to 34% in the respective reporting quarter of the previous year.
The Americas region which already previously proved to be a strategic region continued to grow both for CFIP Lumina product sales as well as further expanding FreeMile product line posting a combined growth of 36% or 0.3 million LVL (0.43 million EUR) compared to the previous reporting quarter of the current financial year. Consequently the region retained a 42% turnover share from the total group’s turnover of the reporting quarter.
The Group decreased the allowances for bad debtors and made financial gains from favorable USD to LVL, foreign exchange rates positively contributing to the reporting quarter’s profits.
The Group ended third quarter of 2012/13 financial year with a net profit of 270 thousand LVL (384 thousand EUR), which represents an increase of 245 thousand LVL (349 thousand EUR) when compared to respective quarter of previous financial year.
The Group has always focused on responding to customer and market requirements. Following an extensive R&D activity the Group prepares to launch the first products from a new generation product line supporting extended functionality that addresses many requirements of the existing and potential Group’s customers. Throughout the remaining year Group is determined to complete the whole product line.
The Group will continue to focus on strategic niche markets offering current and new products, customized solutions for specific clients as well as launching promotions for the new product line. Additionally the Group will continue developing it’s managed services offering. The Group remains financially stable and with positive outlook for the next operating periods. Meanwhile due to market competition pressures and dependencies on customer and market activities, the Board of the Group avoids giving any forward-looking sales and financial result statements.
Additional information: Aira Loite Member of the board, COO Phone: +371 67046833 Mailto: Aira.Loite@saftehnika.com
Informācija par dalību ES fonda projektā „Latvijas Elektronikas un elektrotehnikas nozares klasteris”
21.03.13.
AS „SAF TEHNIKA” sadarbībā ar biedrību „Latvijas Elektrotehnikas un elektronikas rūpniecības asociācija” (LEtERA) piedalās Eiropas Savienības fonda projektā „Latvijas Elektronikas un elektrotehnikas nozares klasteris” (projekta Nr. KAP/2.3.2.3.0/12/01/003)
Projekts tiek īstenots darbības programmas „Uzņēmējdarbība un inovācijas” papildinājuma 2.3.2.3. aktivitātes „Klasteru programma” ietvaros, ievērojot 2012.gada 12. septembra Līgumu par projekta īstenošanu Nr. L-KAP-12-0002, kas noslēgts starp LEtERA un valsts aģentūru „Latvijas Investīciju un attīstības aģentūra”.
Projekta norises laiks: 2012. gads – 2015. gads.
„SAF Tehnika” has successfully participated in exhibition „CeBIT 2013”
14.03.13.
According to the agreement No .L-ĀTA-12-1169 (project No. ĀTA/2.3.1.1.1./12/42/011) concluded on 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 March 5 – 9, 2013 the company exhibited at “CeBIT 2013” which took place in Hanover, Germany.
During the exhibition „CeBIT 2013” there were presented CFIP and Freemile product lines of „SAF Tehnika”, as well as microwave spectrum analyzer Spectrum Compact and the newest product of CFIP Marathon 2. The biggest part of “SAF Tehnika” booth #С32 at hall 011 visitors was existing and potential clients from Europe and nearest regions.
„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 100 countries worldwide. „SAF Tehnika” has been listed on NASDAQ OMX Riga since 2004.
Riga, Latvia, 2013-03-06 17:12 CET (GLOBE NEWSWIRE) -- SAF Tehnika JSC informs that as of March 1, 2013, Janis Ennitis resigned from SAF tehnika Board along with leaving the position of the company's Vice President Sales and Marketing.
Remaining Board members Chairman of the Board Normunds Bergs, Vice-Chairman of the Board Didzis Liepkalns and member of the Board Aira Loite continues to perform their duties.
In accordance with Paragraph 14 of Section 59 of the Law of Financial Instruments Market, SAF Tehnika JSC (hereinafter – the Company) informs that it became aware of liquidity issues of the Company’s partner in Brazil who had purchased SAF equipment in order to implement the project of building up the Brazilian TV broadcast network (hereinafter – the Partner). As the result, the Partner has not been able to meet the conditions for TV broadcast network construction project implementation, and the customer has terminated the agreement. The total amount of the SAF equipment delivered to the Partner (and not yet paid) is 578,000.00 USD, and the payment due date is August 2013.
SAF Tehnika had acquired Latvian Guarantee Agency’s export guarantee for this transaction which, according to the conditions of the export guarantee agreement, will cover part of the overdue amount in case if the partner fails to meet his obligations.
Additional_information: Aira Loite Member of the board, COO Phone: +371 67046833 e-mail: aira.loite@saftehnika.com
SAF Tehnika appoints Edgars Ricevs as Vice President Sales and Marketing
11.02.13.
SAF Tehnika announces that as of 1 March this year, Edgars Ricevs, at present CEO of Stream Networks, will join SAF Tehnika as the company's Vice President Sales and Marketing. Within a month, Edgars Ricevs will also occupy a position of a Board Member, thus replacing the former company's Vice President Sales and Marketing Janis Ennitis whose leave from the company is related to an opportunity of developing a private business.
"Respecting the decision of Janis Ennitis to take on a new challenge in his career I am convinced that in the person of Edgars Ricevs SAF Tehnika has been joined by a knowledgeable manager with most extensive experience in the sector of innovative telecommunication technologies, which will be a great asset for the company," stressed SAF Tehnika Chairman of the Board, Normunds Bergs. At the same time SAF Tehnika confirms that the expected changes in the company's management are not related to the changes in the company's strategy of the product development and its international operations.
The duties of Edgars Ricevs at SAF Tehnika will include sales and marketing management by strengthening those activities worldwide, investigating new opportunities and developing managed services business in North America.
Edgars Ricevs currently is performing as a CEO of SIA Stream Networks (since August 2008) – wireless broadband access provider in Northern Europe. E. Ricevs was also a COO and CTO of pan-Baltic alternative carrier Norby Telecom (March 2007- August 2008) and, he also was holding a CEO position at SIA Telecentrs (April 2002 - August 2008). Within the period from February 1996 to March 2002 he performed the duties of the Head of Microwave department for Microlink Latvia. E. Ricevs holds bachelor degree in computer science from Ventspils University College (2004-2006).
„SAF Tehnika” has successfully participated in exhibition „Animal Farm 7”
07.02.13.
According to the agreement No .L-ĀTA-12-1169 (project No. ĀTA/2.3.1.1.1./12/42/011) concluded on 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 January 29 – February 1, 2013 the company exhibited at “Animal Farm 7” which took place in Salt Lake City, Utah, USA.
During the exhibition „Animal Farm 7” there were presented CFIP and Freemile product lines of „SAF Tehnika”, as well as microwave spectrum analyzer tool. The biggest part of “SAF Tehnika” booth #27 visitors were from North America region.
„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 100 countries worldwide. „SAF Tehnika” has been listed on NASDAQ OMX Riga since 2004.
SAF Tehnika Consolidated Interim Report for Q2 of financial year 2012/13
07.02.13.
Riga, Latvia, 2013-02-06 15:20 CET (GLOBE NEWSWIRE) -- SAF Tehnika's (further Group) non-audited net sales for the second quarter of financial year 2012/13 were 2.69 million LVL (3.83 million EUR), increasing by almost 10% compared to the second quarter of the previous financial year at the same time posting an 40% increase from the previous reporting quarter of the current financial year (Q1 FY 2012/13).
The financial results reflect Groups ability to maintain regular sales activities together with acquiring new mid-to-large size projects. Asia, Middle East and Africa region continued to show improved results with revenue growing by 25% or 0.13 million LVL (0.2 million EUR) from the previous reporting quarter of the current financial year, meanwhile also showing a 21% year-to-year sales improvement. Consequently the regions strengthened its strategic importance by contributing 25% from the total turnover.
As the European, CIS region regained market activity the sales in the region grew by 60% against Q1 FY 2012/13 however still not reaching the previous average levels Group generated in the previous reporting quarters with year-to-year turnover decreasing by 19% or 0.21 million LVL (0.31 million EUR).
The Americas region which already previously proved to be a strategic region continued to grow both for CFIP Lumina product sales as well as further expanding FreeMile product line posting a combined growth of 36% or 0.3 million LVL (0.43 million EUR) compared to the previous reporting quarter of the current financial year. Consequently the region retained a 42% turnover share from the total group’s turnover of the reporting quarter.
The periods’ financial results were directly affected by an increase in operating costs. Due to change in government’s conditions for financing development projects for competence centers the Group decided to suspend the ongoing development projects in “LEO Petniecibas Centrs” and consequently will have to absorb additional development costs amounting to 72 thousand LVL (102 thousand EUR). Increased expense related to sales and marketing activities also affected the bottom line. Furthermore, the Group suffered from unfavorable USD to LVL, foreign exchange rates which made a negative impact on the reporting quarter’s profits.
The Group ended second quarter of 2012/13 financial year with a net loss of 170 thousand LVL (243 thousand EUR), which represents a decrease by 238 thousand LVL (339 thousand EUR) when compared to respective quarter of previous financial year where company posted profit.
The Group’s current main focus is to progress on the ongoing R&D projects of new generation product that will support both the functionality of currently existing products and will be possess additional advanced features. It is planned that the product will be introduced to the market at the beginning of summer 2013.
The Group plans to expand in managed services field and will sharpen its focus on niche markets and customers to ensure development and technical support resources are channeled to key areas.
Notwithstanding the financial results of the reporting period, the Group remains financially stable and confident to withstand periods of lower business activity. Due to intense competitive pressures and general decrease in spending of businesses consuming telecommunication equipment, the Board of the Group does not assume any specific predictions of sales and financial results of the next reporting periods.
Additional_information: Aira Loite Member of the board, COO Phone: +371 67046833 Mailto: Aira Loite
Powers of the members of the Management Board are effective from 11.07.2016 to 10.07.2019
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 57888 shares (1.95%)
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 8000 shares
Aira Loite - has resumed working in SAF Tehnika in a position of a Director of Digital Transformation in September 2021. She has extensive experience in management, finance, administration and IT, gained in companies operating in local and international markets. She worked as an Administrative Director (2019-2020) in a food production company “Forevers” Ltd.), metal processing company group “Torgy Mek” as Finance Director (2016-2019) and as a Director of Torgy Baltic SIA (2018-2019). Aira Loite has been a member of the Board of SAF Tehnika, Finance and Administrative Director (2007-2011), Managing Director (2011-2015). From 2006 to 2007, she worked as the director of the Business Information and Control Department of SIA Lattelecom. From 2000 to 2006, she was a member of the Board and Chief Financial Officer of SIA Microlink Latvia. A. Loite has graduated the University of Latvia in 1988 and holds Masters degree in Mathematics and MBA from Salford University, GB, 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 Reiharde
Member of the Council
Owns 0 shares
Currently leading Microsoft Azure business in Small and Medium segment in CEE (Central and Eastern Europe) 30+ countries. Almost 15 years spent in the information technology industry in various business development and sales leader roles in the Baltic and European markets. Previous experience in banking (Parex Bank, 2006-2008) and sales account management in a Danish and Swedish owned logistics company Baltic Transhipment Center (2000-2006). She graduated from Salford University in 2009 with MBA, as well as Riga Stradins University in 2021, and holds a Master degree in Clinical Psychology.
Powers of the members of the Supervisory Council are effective from 20.11.2018 to 20.11.2021
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