1. Financial reporting and how does the issuer feel about it?
SAF Tehnika A/S
Financial reporting and how
does the issuer feel about it?
Aleksis Orlovs
CFO
September 13, 2005

2. SAF Tehnika - public joint-stock company
designer, manufacturer
and distributor of
telecommunications and data
transmission equipment –
digital microwave radio systems.

3. Leading high-tech enterprise in the Baltics
SAF Tehnika is founded in 1999, have been growing from 10+ to 130 employees in 5 years
ISO 9002 certified
Exposed to high-growth global telecom markets in Asia, South America, Africa, CIS and CEE
Public company, traded on the official list of the RSE, capitalization over EUR 50m
The story how it was founded. Poor engineer which lived over the river and needed telephone extender. Application to telecom – beginning after 20 years the everything started
Produce Radio link – radios
Due to the unique approach and price advantages could target high growing markets
The only profitable
European telecommunications Standard Institute

4. Before the IPO
As a Microlink part – some reporting procedures established
No Disclosure practices
Reluctance to disclose data to competition
Not in place necessary bureaucracy and procedures
Microlink as a major shareholder, whom belonged more then 49% need exit, as venture capital funds have they maturity. Shareholders need to exit.
Management was pretty reluctant to that.
As actually we could finance acquisition also from our own money.
But with time we understood that for public companies trust and credibility is much higher then for non public – this also was a reason

5. After the IPO
Time consuming reporting and always changing standards...
Enhanced credibility and trust from international suppliers, partners and customers
Increased brand awareness and implementation of best practices
Better and easier communication with investors and other stake holders

6. Never give up!

7. SAF Tehnika A/S
Thank you!