OREANDA-NEWS. For Q4 of the FY 2014/2015, the Group’s unaudited consolidated net turnover was 3.22 million euros, which is by 7% or 0.2 million euros less than in Q4 of the previous financial year, but by 17% more than in Q3 of this financial year.

Almost half of the turnover of the reporting quarter (47%) was made by revenues from North/Latin Americas, while the region’s turnover decreased by 20% and 0.38 million euros as against the same quarter last year, but was by 7% more than sales volumes in Q3 this year, thus at large equalizing revenue distribution by quarters. Sales in the European and CIS region totaled 44% from the Q4 turnover. The region’s turnover rose by 6% as compared to sales in the same quarter of the previous FY and was by 55% or 0.5 million euros more than in Q3 FY 2014/15, owing to the Group’s ability to provide necessary products and services to specific customers. However, the CIS part in the region’s revenue is still rather small. Sales in the AMEA (Asia, Middle East, Africa) region equaled 9% of the turnover during the quarter and rose by 30% as against Q3 of the previous FY, but a bit less than in Q3 of this FY.  

For 12 months of the FY 2014/2015, the Group’s unaudited consolidated net turnover was 12.82 million euros, which represented 7% increase comparing to revenues generated in the respective period of the previous financial year.

The consolidated non-audited net result of the Group for Q4 of the FY 2014/2015 was 278 thousand euros profit.

The consolidated non-audited net result of the Group for 12 months of the FY 2014/2015 was 1.2 million euros profit, which is greater by 1.1 million euros as compared to the Group’s result for 12 months in the previous FY 2013/2014 (i.e. 127 thousand euros).

The Group’s net cash flow for the 12 month period of the financial year was positive – 237 thousand euros.

SAF Tehnika is the company with the long-term competence in the market niche of microwave radio, proven capable to deliver products of notable quality to general market and to differentiate by developing custom-tailored solutions. The Group is financially stable. The task for the Group is to continue development of next generation wireless data transmission devices focusing on functionality, product cost reduction, customer satisfaction, efficient production, and internal operations. The goal is to regain sales levels to ensure a positive net result in the long term. Due to the intense competitive pressure, the Board of SAF Tehnika cannot provide certain prognosis for sales figures and operational results.

Consolidated Statement of Profit or Loss for 12 month of the financial year 2014/2015

  30.06.2015 30.06.2014
  EUR EUR
Net sales 12 819 253 12 025 751
Other operating income 403 919 330 149
Total income 13 223 172 12 355 900
     
Direct cost of goods sold or services rendered -6 246 841 -6 574 289
Marketing, advertising and public relations expenses -501 776 -503 989
Bad receivables 345 899 137 302
Operating expenses -1 091 273 -1 165 265
Salaries and social expenses -3 485 725 -3 183 613
Bonuses and social expenses -463 705 -197 566
Depreciation expense -384 128 -415 838
Other expenses -388 409 -148 342
Operating expenses -12 215 958 -12 051 600
     
EBIT 1 007 214 304 300
     
Financial income (except ForEx rate difference) 2 985 19 411
Foreign exchange +gain/(loss) 406 857 -144 777
Financial items 409 786 -125 366
     
EBT 1 386 441 151 559
     
Corporate income tax -177 919 -24 510
     
Profit after taxes 1 208 522 127 049
     
Net profit/(loss) 1 208 522 127 049

 

Balance sheet

 

As of June 30, 2015

  30.06.2015 30.06.2014
CURRENT ASSETS EUR EUR
Cash and bank 4 319 608 4 082 555
Short-term investments 1 893 735 0
Customer receivables    
      Accounts receivable 1 451 492 2 259 410
      Due from joint venture 0 44 393
      Allowance for uncollectible receivables -24 489 -369 288
Total 1 427 003 1 934 515
Other receivables    
      Other current receivables 186 974 226 408
      Short-term loans 0 180 000
Total 186 974 406 408
Prepaid expenses    
      Prepaid taxes 29 950 71 257
      Other prepaid expenses 87 426 116 457
Total 117 376 187 714
Inventories    
      Raw materials 1 257 830 1 396 275
      Work-in-progress 2 068 257 1 620 329
      Finished goods 1 352 758 1 482 149
      Prepayments to suppliers 45 028 26 626
Total 4 723 873 4 525 379
TOTAL CURRENT ASSETS 12 668 569 11 136 571
NON-CURRENT ASSETS    
Long-term financial assets    
      Equity-accounted investments 3 579 13 910
      Investments in other companies 2 148 1 188
      Long-term receivables 18 303 53 526
      Deffered income tax 78 342 98 684
Total 102 372 167 308
NON-CURRENT physical assets    
      Plant and equipment 3 512 138 3 283 390
      Other equipment and fixtures 1 852 169 1 881 478
      Accumulated depreciation -4 752 653 -4 631 429
      Other long-term assets 4 845 178
Total 616 499 533 617
Intagible assets    
      Purchased licenses, trademarks etc. 182 478 203 722
      Other long-term intagible assets 3 614 4 449
Total 186 092 208 171
TOTAL NON-CURRENT ASSETS 904 963 909 096
TOTAL ASSETS 13 573 532 12 045 667

 

LIABILITIES AND OWNERS' EQUITY 30.06.2015 30.06.2014
CURRENT LIABILITIES EUR EUR
Debt obligations    
   Short-term loans from financial institutons 8 375 6 781
   Customer prepayments for goods and services 403 056 216 085
   Accounts payable 750 733 842 910
   Tax liabilities 215 832 116 185
   Salary-related accrued expenses 535 516 413 657
   Other accrued expenses 85 110 0
   Provisions for guarantees 18 211 14 643
   Deffered income 233 061 105 410
TOTAL CURRENT LIABILITIES 2 249 894 1 715 671
OWNERS' EQUITY    
   Share capital 4 158 252 4 226 185
   Paid in capital over par 2 851 725 2 851 725
   Other reserves 8 530 0
   Retained earnings 3 133 841 3 125 600
   Net profit for the financial year 1 208 522 127 049
   Currency translation reserve -37 232 -562
TOTAL OWNERS' EQUITY 11 323 638 10 329 996
TOTAL LIABILITIES AND OWNERS' EQUITY 13 573 532 12 045 667