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SAF AG

EANS-News: SAF AG
CORRECTION - SAF records revenue growth of 24.0 percent for fiscal year 2009

Tägerwilen (euro adhoc) -

One-time costs due to takeover by SAP affect net profit
  Corporate news transmitted by euro adhoc. The issuer/originator is solely
  responsible for the content of this announcement.
annual report/Financial results 2009
Subtitle: One-time costs due to takeover by SAP affect net profit
- Total annual revenue 2009 increased from
EUR 13.4 million to EUR 16.6 million - Total license sales 2009 
increased by 36.4 percent - Maintenance business grew by 26.6 percent
in fiscal year 2009 - Additional costs due to takeover affect net 
profit - SAP is major shareholder with approx. 70 percent
Tägerwilen/Switzerland, March, 16, 2010. SAF AG, which is listed in 
the Prime Standard of the Frankfurt Stock Exchange (ISIN 
CH0024848738), announced revenues for fiscal year 2009 of EUR 16.6 
(FY/08: EUR 13.4 million) as well as a net profit of EUR 0.7 million 
(FY/08: EUR 2.1 million). Consolidated net profit fell by 65.7 
percent from EUR 2.1 million to EUR 0.7 million due to one-off 
expenses of EUR 2.8 million incurred as a result of SAP's acquisition
of SAF.
SAF AG can look back on a year that has been both eventful and 
successful. Despite a difficult economic environment faced by the 
entire industry, SAF lifted its sales by an encouraging 24.0 percent 
to EUR 16.6 million. This growth was buoyed by strong demand for 
software licenses, sales of which rose by 36.4 percent to reach EUR 
7.0 million as a result. Last year, SAF entered into direct business 
agreements amongst others with two top companies - the leading US 
supermarket chain Winn-Dixie and the perfumery retailer Douglas. In 
addition to these two agreements, SAF sold 12 OEM licenses in the 
year under revenue, as compared to 10 in fiscal year 2008.
The maintenance business grew by 26.6 percent, generating EUR 8.0 
million in revenues. This area is sure to provide a firm foundation 
for the Company's growth in the current year since every software 
license sold translates into additional maintenance sales.
Sales fell by 18 percent to EUR 1.6 million in our third business 
unit, services, since a number of larger service projects had been 
completed by the beginning of the reporting period. Consolidated net 
profit fell by 65.7 percent from EUR 2.1 million to EUR 0.7 million 
due to one-off expenses of EUR 2.8 million incurred as a result of 
SAP's acquisition of SAF.
"Fiscal year 2009 was marked not only by the continuation of our 
expansion but also by a key mi-lestone in the Company's history", 
comments Dr. Andreas von Beringe, CEO and president of the Board of 
Directors the past business year and the friendly takeover by the SAP
Group, which has held approximately 70 percent of SAF's share capital
since the autumn of 2009.
In these times of ever more fierce competition, SAF could not be 
better positioned than under the wing of the world's market leader 
for standard business software. SAP's global sales network offers SAF
the ideal springboard for further expanding sales of our superior 
ordering and forecast-ing systems worldwide. SAP is offering SAF 
strong momentum, as it plans to market SAF systems as a component of 
SAP's F&R (Forecasting & Replenishment) solution even more 
intensively.
SAF will remain an independent and powerful company going forward. 
This applies to products, locations and the direct sales business, 
which is growing ever stronger. This year, SAF intends to concentrate
in particular on winning over new customers in Europe and the US. The
new face of SAF's Executive Management sends a clear signal as to its
continued independence. "My succes-sor as CEO, Udo Meyzis, comes from
within SAF. This will ensure that SAF's successful strategy remains 
on track. Going forward, SAF will continue to operate as an SAP OEM 
partner as well as under its own flag on the automated ordering 
systems market" explains von Beringe SAF's future and adds: "The 
future CTO, Uwe Zachmann, and the new CFO, Philipp Zielke, both come 
to us from SAP. SAF will therefore benefit from a close cooperation 
with its majority shareholder, in the area of product development as 
well as in the area of finance."
SAF's superior expertise as the technological leader for automated 
replenishment planning, coupled with SAP's strong market presence, 
will open doors to new markets. Going forward, SAF could support 
retailers as well as businesses in other sectors in optimizing their 
supply chains on the basis of reliable forecasting.
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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. 100 people. Consolidated sales revenues for 
fiscal year 2009, according to IFRS statements, were EUR 16.6 million
with consolidated profit of EUR 0.7 million which were affected by 
one-time costs of EUR 2.8 million due to the takeover by SAP. SAP 
currently holds approx. 70 percent of SAF´s shares. SAF´s products 
are distributed in many European coun-tries 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 2009. SAF does not plan to update the 
forward looking statements, nor does it assume the obligation to do 
so.
end of announcement                               euro adhoc

Further inquiry note:

Astrid Strömer
+41 (0)71 666 79 48
astrid.stroemer@saf-ag.com

Branche: Software
ISIN: CH0024848738
WKN: A0JD78
Index: Prime All Share, Technology All Share
Börsen: Frankfurt / regulated dealing/prime standard
Berlin / free trade
Stuttgart / free trade
Düsseldorf / free trade
München / free trade

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