EANS-News: SAF AG / SAF generates consolidated net profit of EUR 1.4 million in the fiscal year 2010

Weak licensing business slows SAF’s growth

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annual result/annual report

Subtitle: Weak licensing business slows SAF’s growth

Tägerwilen (euro adhoc) - - Consolidated net profit increases from
EUR 0.7 million to EUR 1.4 million - At EUR 4.8 million, licensing
revenue remains below expectations - Services business records 23.7
percent growth in the fiscal year 2010 - Consolidated revenues
decrease 5.9 percent year on year to EUR 15.6 million

Tägerwilen/Switzerland, March 15, 2011. SAF AG, which is listed in
the Prime Standard of the Frankfurt Stock Exchange (ISIN
CH0024848738), announced consolidated revenues of EUR 15.6 million in
the fiscal year 2010, representing a 5.9 percent decline in revenues
year on year (FY/09: EUR 16.6 million). In contrast, consolidated net
profit doubled from EUR 0.7 million to EUR 1.4 million. The strong
growth in consolidated net profit was due primarily to the absence of
one-off expenses incurred in the course of SAP AG's public takeover
offer in 2009 which reduced the results of the fiscal year 2009.
Accordingly, operating profit also rose from EUR 0.6 million in the
previous year to 2.0 million in 2010.

After starting out the fiscal year 2010 with the successful signing
of a licensing agreement with Germany's leading furniture discounter
ROLLER and the license expansion of one of the leading US supermarket
operators to include all of the group´s supermarket chains, the
licensing business´ weak performance in the second half of 2010
dampened SAF's growth. At EUR 4.8 million for the year, SAF's
licensing business lagged significantly behind the previous year´s
level (FY/09: EUR 7.0 million). Although OEM partner SAP made a
substantial contribution to licensing revenues with nine licensing
agreements, it was not as successful as it had been during the fiscal
year 2009. The decline in the licensing business was due primarily to
a significantly weaker fourth quarter, in which an expected major
U.S. licensing deal fell through.

The maintenance business continued to grow in 2010, increasing 10.9
percent to EUR 8.9 million. The services business also showed
positive development, recording a 23.7 percent increase in revenues
from EUR 1.6 million in 2009 to EUR 1.9 million in 2010. The growth
in revenues was fueled primarily by the closer alliance between SAF
and SAP. For example, SAF was able to perform proof of concept
analyses to pinpoint the financial added value of SAP´s F&R solution,
thus convincing customers to purchase the solution. Additional
development orders for the OEM partner and consulting projects for
SAP F&R customers also made a substantial contribution to driving
strong services revenues.

"The fiscal year 2010 was marked by many changes including the
replacement of management, a closer cooperation with majority
shareholder SAP and a realignment of our strategy," remarked Udo
Meyzis, CEO of SAF AG with regard to the past fiscal year. "We have
thus laid the groundwork for SAF's continued success and can fully
exploit the synergies resulting from our intensified partnership with
SAF going forward."

Thanks to future investments in enhanced software solutions for
automated replenishment and the support of an established parent
company, SAF is ideally suited to leverage innovative products and
increase its share of the growth market for IT-driven replenishment
management and to provide optimal support to customers in mastering
the challenges they face with respect to the ordering process.

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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 2010, according to IFRS statements, were EUR 15.6 million
with consolidated profit of EUR 1.4 million. SAP currently holds
approx. 70 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
so.

end of announcement euro adhoc
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ots Originaltext: SAF AG
Im Internet recherchierbar: http://www.presseportal.de

Further inquiry note:

Mareike Poit

Tel.: +41 (0) 71666 7955
e-mail: mareike.poit@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