euro adhoc: SAF AG
quarterly or semiannual financial statement
SAF reached almost lower level of net profit guidance for fiscal year 2006

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- Significant growth in net sales by 102.6 percent in Q1-3/06, 166.9 percent in Q3/06 - Net Profit at EUR 3.2 Mio. in Q1-3/06 - SAF reached almost lower level of net profit guidance for fiscal year 2006 - Successes in direct sales business filling prospects 2007

Taegerwilen/Switzerland, 27 November 2006. SAF AG which is listed on the Prime Standard of the Frankfurt Stock Exchange (ISIN CH0024848738) publishes the figures of the third quarter and consequently raises the guidance slightly.

Substantial increase in consolidated net profit

In the third quarter of 2006, SAF continued its extremely positive business performance. Even though sales in the software industry are traditionally weaker in the third quarter, SAF recorded a significant increase in sales and results compared with the prior-year period.

In the first nine months of the current financial year, SAF generated total sales of EUR 9.7 (3.5 in Q3/06) million, another significant increase of 102.6 (166.9 in Q3/06) percent compared with Q1-3/05. Sales rose as a result of increases in the sale of software licences (plus 171.5 percent and 374.4 percent in Q3/06) and maintenance services (plus 99.5 percent and 97.1 percent in Q3/06).

In line with its sales growth, SAF continued to expand its organisation as planned. In spite of the resulting cost increases, EBIT rose approx. 3.5-fold up to EUR 3.6 million or approx. 13-fold up to EUR 1.1 million in Q3/06 compared with the same period of the previous year. This corresponds to an EBIT margin of 36.6 (32.9 in Q3/06)percent.

Similarly, SAF AG's consolidated net profit also rose sharply. At EUR 1.1 million, this is around 16 times higher than the EUR 0.07 million the company reported in Q3/05. In the first nine months, consolidated net profit rose to EUR 3.2 million, a fourfold increase compared with the same period of the previous year.

SAF increases guidance figure in response to unexpectedly sharp rise in sales

On the back of the unusually high sales of the third quarter, the Company has already achieved nine-month sales of EUR 9.7 million and net profit of EUR 3.2 million, thus almost reaching, by the end of Q3, the net profit planned for the whole year. For the 2006 financial year, SAF expects sales of up to EUR 13.3 million and net profit of up to EUR 4.0 million, i.e. a net profit margin of up to 30 percent (previously released: sales EUR 12.3-13 million, net profit margin of 27-30 percent or EUR 3.3-3.9 million net profit).

Further successes in direct sales business filling prospects 2007

SAF is currently negotiating contract with potential new customers. However, resulting licence fee payments of all mentioned projects are expected in 2007 and provide a good start for the new financial year. SAF worked on additional sales potentials that are a solid basis for further increasing license fees.

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ots Originaltext: SAF AG
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Further inquiry note:
Astrid Strömer
+41 (0)71 666 79 48

Branche: Software
ISIN:      CH0024848738
WKN:        A0JD78
Index:    Technologie All Share, Prime All Share
Börsen:  Frankfurter Wertpapierbörse / official dealing/prime standard
              Börse Berlin-Bremen / free trade
              Baden-Württembergische Wertpapierbörse / free trade
              Börse Düsseldorf / free trade
              Bayerische Börse / free trade

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