euro adhoc: SAF AG
Earnings Forecast
SAF lowers forecast for the full-year 2007

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- Total annual sales of EUR 13.6 million to EUR 15.0 million expected - Resulting net profit of EUR 2.7 million to EUR 3.9 million for 2007 - Growth impulse planned for 2007 delayed by one year

Tägerwilen/Switzerland, November 13, 2007 SAF AG (ISIN CH0024848738), listed on the Prime Standard, has to adjust the forecast given earlier for the full-year 2007 (expected sales amounting to between EUR 18.5 million and EUR 20 million and net profit of EUR 5 million to EUR 6 million) due to third-quarter sales in 2007 and the reduced sales forecast for software licenses for the upcoming fourth quarter.

SAF´s sales mainly comprise license sales from the OEM partner business and, increasingly, the expanding direct business. The current forecast for the planned license sales from the OEM partner business in fiscal year 2007 indicates that sales will most likely fall short of the planning used as a basis up to now. Based on present data, both sales in the third quarter of 2007, which will equal the respective figures of the previous quarter (approx. EUR 3.0 million), as well as expected sales in the fourth quarter, which is normally the strongest for sales in the software industry, will not meet the sales aligned upon in the business plan with the OEM partner.

In its direct business, SAF is still in the final stages of contract negotiations with various new customers in the USA and Europe. These projects will generate sales from 2008 on rather than in 2007 as expected up to now. Particularly the development of SAF´s own distribution team was more time-consuming than envisaged. As a general consequence of the delays in the OEM business and the development of direct business, the growth impulse planned for 2007 will take place in 2008.

On the basis of today´s knowledge, the Company expects the following forecast for the full-year 2007: sales between EUR 13.6 million and EUR 15.0 million and thus net profit amounting to between EUR 2.7 million and EUR 3.9 million, giving a net profit margin of 20 to 26 percent.

The detailed figures for Q3 presumably will be announced on November 27, 2007.

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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:  Börse Frankfurt / official dealing/prime standard
              Börse Berlin / free trade
              Börse Stuttgart / free trade
              Börse Düsseldorf / free trade
              Börse München / free trade

Weitere Meldungen: SAF AG

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