SAF Announces 2007 Results

Business results in line with expectations

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companies/Consolidated financial results 2007

Tägerwilen (euro adhoc) - - Actual sales revenues of EUR 13.2 million (4Q 07: EUR 3.9. million) - Actual net profit of EUR 3.0 million (4Q 07: EUR 1.2 million) - Three international contracts concluded via direct business provide a solid basis for further growth

Tägerwilen/Switzerland, March 12, 2008. SAF AG, which is listed in the Prime Standard of the Frankfurt Stock Exchange (ISIN CH0024848738) reports the following final results for the total fiscal year 2007: sales revenues of EUR 13.2 million (4Q 07: EUR 3.9 million) and a net profit of EUR 3.0 million (Q4/07: EUR 1.2 million). SAF´s 2007 business results were in line with the released guidance (total annual sales revenues: EUR 13.6 million to EUR 15.0 million; net profit: EUR 2.7 million to EUR 3.9 million).

During the reporting period, total sales revenues declined slightly by 2.6 percent vs. last year with its 84 percent explosion in sales revenues. This decline in sales revenues was caused by lower than planned license sales via the OEM partner as well as by a time lag and shift in realized sales from the direct business into the current fiscal year. During Q4/07, sales of software licenses via the OEM partner were in line with the latest expectations and resulted in a slight increase of 0.9 percent to EUR 3.9 million vs. the same period last year.

Maintenance revenues increased again remarkably during the reporting period by 70.8 percent from EUR 2.8 million to EUR 4.8 million (Q4/07: EUR 1.3 million). Maintenance revenues grew proportionately with software license revenues and thus track the latter with a time lag.

Additional employees were hired in order to support the continued growth of the Company. In doing so, the Company closely monitored the cost developments. Operating costs, which were primarily driven by personnel costs, increased by 19.1 percent vs. last year from EUR 9.4 million to EUR 11.1 million (Q4/07: EUR 3.0 million).

This led to a reduction in operating income (EBIT) of 48.4 percent from EUR 5.0 million in 2006 to EUR 2.6 million in 2007 (4Q 07: EUR 1.2 million). An EBIT margin of 19.4 percent (previous year: 36.6 %; Q4/07: 30.7%) was reported.

Net profit followed the development of EBIT. Considering the current favorable corporate taxation situation at the location of the home office of the Parent Company, an overall effective rate of taxation of 13.9% was achieved. Net profit for the total fiscal year amounted to EUR 3.0 million (Q4/07: 1.2 million) vs. a net profit of EUR 4.6 million in the previous year. The net profit margin for the 2007 fiscal year equaled 22.5 percent (Q4/07: 32.0%).

"Our 2007 business results were significantly below our expectations. The pre-requisites for continued growth have not only been fulfilled by the contracts concluded at the turn of the year," emphasized SAF AG CEO, Dr. Andreas von Beringe. "Our starting point for continued growth is very promising, both in our direct business as well as in our partner business," added von Beringe.

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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. SAF shares are listed at the official market (Prime Standard) at the Frankfurt Stock Exchange (FWB). 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.

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 annual report 2006. SAF does not plan to update the forward looking statements, nor does it assume the obligation to do so.

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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:    Prime All Share, Technologie All Share
Börsen:  Börse Frankfurt / regulated 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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