With a solid project pipeline, SAF well positioned for second half of 2011 fiscal year

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quarterly report/6-month report

Subtitle: Maintenance and service business continues strong growth

Tägerwilen (euro adhoc) - - Service business records 50.9 percent growth to EUR
0.7 million in Q2/11
- Total revenues in second quarter at EUR 3.7 million
- At EUR 0.7 million, licensing revenues below expectations

Tägerwilen, Switzerland, August 17, 2011. 
The Prime Standard listed SAF AG (ISIN CH0024848738) posted total revenues of
EUR 3.7 million in the second quarter of 2011 (Q2/10: EUR 4.4 million). With
revenues at EUR 0.7 million, the licensing business was down by 57.5 percent
compared with the second quarter of 2010 (Q2/11: EUR 1.7 million). The
maintenance and service business continued its encouraging growth trend
throughout the second quarter. The maintenance business grew quarter on quarter
by 3.0 percent to EUR 2.3 million. The service business developed excellently,
growing by 50.9 percent to EUR 0.7 million (Q2/10: EUR 0.5 million). In addition
to the solid service business with the OEM partner SAP, SAF's direct consulting,
analysis and implementation projects also contributed to this excellent

The decline in revenues only was partially offset by a 3.9 percent year on year
reduction in operating expenses to EUR 3.5 million in the second quarter.
Consolidated net profit thus fell to EUR 0.4 million (Q2/10: EUR 1.0 million).
SAF recorded a 15.8 percent decline in revenue to EUR 6.8 million for the first
half of 2011, breaking even with a consolidated net profit of EUR 0.0 million. 

SAF entered into a strategic partnership with the Barcelona-based solutions
provider Supply Nexus during the second quarter, enabling it to expand its
distribution and partnership network and to position itself for success on the
Iberian Peninsula. Projects involving Coop and the Dutch supermarket chain Jan
Linders are progressing as planned.

"SAF's solutions provide retailers with significant verifiable cost reductions
and decisive competitive ad-vantages along the entire value chain," said Udo
Meyzis, CEO of SAF AG. "Thanks to future investments in enhanced software
solutions for automated replenishment and the synergies achieved through the
close partnership with SAP, SAF is in an optimal position to assist its
customers in mastering the challenges of their ordering process. SAF's solid
project pipeline lays the foundation for growth in licensing revenue in the
coming quarters."


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 2010, according to IFRS statements,
were EUR 15.6 million with consolidated profit of EUR 1.4 million. SAP AG
currently holds approx. 94 percent of SAF´s shares. 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.,
Irving 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 2010. SAF does not plan to
update the forward looking statements, nor does it assume the obligation to do

Further inquiry note:
Alwin Grünwald
Tel.:     +41 (0) 71666 7948

end of announcement                               euro adhoc 

company:     SAF AG
             High-Tech-Center 2 / Bahnstrasse 1
             CH-8274 Tägerwilen
phone:       +41 (0)71 666 79 48
FAX:         +41 (0)71 666 79 40
sector:      Software
ISIN:        CH0024848738
indexes:     Prime All Share, Technology All Share
stockmarkets: regulated dealing/prime standard: Frankfurt, free trade: Berlin,
             Stuttgart, Düsseldorf, München 
language:   English

Weitere Meldungen: SAF AG

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