SAF Half-Year Financial Report 2007
Tägerwilen (euro adhoc) -
Guidance confirmed unchanged
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stock market/Half-Year Financial Report
- Revenues of EUR 6.2 Mio. (H1/06: EUR 6.3 Mio.) changed only marginally when considered for the full six-month period - On quarterly basis a year-on-year decline of revenues due to extraordinary strong previous quarter - Half-year net profit of EUR 1.1 Mio. (H1/06: EUR 2.1 Mio.) - Successful direct sales and partner management
Tägerwilen/Schweiz, August 28, 2007. SAF AG, which is listed on the Prime Standard of the Frankfurt Stock Exchange (ISIN CH0024848738) developed as expected in the second quarter and confirms the guidance given for fiscal year 2007.
Sales changed only marginally when considered for the full six-month period. They amounted to EUR 6.2 million, as against EUR 6.3 million in the first half of 2006. In the second quarter of 2007, SAF´s sales amounted to EUR 3.3 million, a year-on-year decline of 20.2 percent. Net profit amounted to EUR 0.6 million in the second quarter of the current fiscal year, a year-on-year decline of 69.0 percent.
In the first six months of the current fiscal year, SAF generated a net profit of EUR 1.1 million, 48.5 percent less than in the same period of 2006. SAF has confirmed unchanged its guidance for the full-year 2007. Accordingly, the Company expects sales to increase to between EUR 18.5 million and EUR 20 million and net profit to reach between EUR 5 million and EUR 6 million.
In the previous year the Company benefited from an extraordinary surge in demand which vastly outperformed even the most optimistic expectations. Success of this magnitude was not to be expected in the second quarter of 2007. For this reason, SAF´s sales and earnings did not reach those achieved in the record quarter of 2006.
Apart from the record prior-year figures, the main reasons for the decline are the investments in a significant strengthening of the sales organization, as well as the recruitment of new specialists for research and software development. Both initiatives will lay a strong foundation for SAF´s future growth.
Build-up direct sales and partner management As is evident from the successful partnership with SAP and the international expansion of direct customer business, SAF is well positioned to continue on its growth path. In the USA the Company is in final negotiations with one of that country´s top five retail groups. In the United Kingdom, a deal with one of the UK´s five largest retail groups is very close to being concluded. In Poland, SAF is engaged in promising negotiations with two drugstore chains. In the Asia-Pacific region, SAF has expanded its business with one of New Zealand´s biggest food retailers.
SAF strengthens product range SAF has also achieved new technological successes. The excellent outcome of tests of a software prototype for the optimization of industrial order processes has established a perfect opportunity for a development partnership with a leading packaging manufacturer. The innovative forecasting system SAF FirstTimeItems for fashion items and other products without previous sales history is also making good progress. SAF has acquired an indefinite license for proven software technology based on artificial intelligence. This will significantly accelerate the process of getting the product ready for market introduction and thus our expansion in these new markets.
"This puts SAF in an even better position to expand its customer base around the world" mentioned Dr. Andreas von Beringe, CEO of SAF "enhanced potentials in its core market retail as well as expansion into new industries are a solid basis for sustainable growth" adds von Beringe.
About SAF AG SAF Simulation, Analysis and Forecasting AG specializes in the development of automated ordering and forecasting software for retailers and industrial manufacturers. SAF deploys the demand chain management approach, which controls replenishment planning based on consumer demand patterns. SAF software assists users to realize substantial cost savings and optimizes general logistics conditions through its simulation capabilities. As a result, significant competitive advantages are achieved along the entire value chain: lower inventories, improved product availability, and last, but not least, a higher level of customer satisfaction.
SAF AG was established in 1996 by Dr. Andreas von Beringe and Prof. Dr. Gerhard Arminger. Today, the company employs approx. 90 people. Consolidated sales revenues for fiscal year 2006, were approx. 13.6 million EUR with consolidated profit of 4.6 million EUR according to IFRS statements. SAF´s products are distributed in many European countries as well as in the United States. The company is headquartered in Tägerwilen, Switzerland. SAF also has a subsidiary in the United States: SAF Simulation, Analysis and Forecasting U.S.A., Inc., Grapevine, Texas and in Slovakia, Bratislava: SAF Simulation, Analysis and Forecasting Slovakia s.r.o. with the focus on Nearshore-Development.
Contact: SAF AG Astrid Strömer Vice President Investor & Public Relations High-Tech-Center 2, Bahnstrasse 1 CH-8274 Taegerwilen investorrelations(at)saf-ag.com
Note The complete Half-Year Financial Report as well as financial tables are digitally available under: www.saf-ag.com: Please click on "Investor Relations" or call +41 (0)71 666 79 48.
Forward Looking Statements and Estimates This information contains forward looking statements based on assumptions and estimates of SAF's Management Board. Although we assume the expectations in these forward looking statements are realistic, we cannot guarantee they will prove to be correct. The assumptions may harbor risks and uncertainties that may cause the actual figures to differ considerably from the forward looking statements. Factors that may cause such discrepancies include, among other things, risks that are mentioned in the Offering Memorandum. SAF does not plan to update the forward looking statements, nor does it assume the obligation to do so.
end of announcement euro adhoc 28.08.2007 07:00:00
Further inquiry note:
Astrid Strömer
+41 (0)71 666 79 48
astrid.stroemer@saf-ag.com
Branche: Software
ISIN: CH0024848738
WKN: A0JD78
Index: Technologie All Share, Prime All Share
Börsen: Börse Frankfurt / official dealing/prime standard
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