Bittium Oyj

Bittium Corporation announced that its subsidiary, Bittium Wireless Ltd, has signed a Partnership Agreement with the Finnish Defence Forces for 2025–2036. The agreement involves the life cycle setup and maintenance of command-and-control systems manufactured by Bittium, including tactical communications systems and related products. This framework allows for annual joint planning and purchasing of Bittium's products, software, and services by the Finnish Defence Forces. The agreement aims to support national defense and ensure the availability of critical military technologies in Finland. It replaces a previous purchase agreement from 2018 and includes a framework agreement from 2023. The deal was signed by representatives from both Bittium and the Finnish Defence Forces on November 25, 2024. Bittium specializes in secure communications solutions and had net sales of EUR 75.2 million in 2023, despite an operating loss of EUR 4.3 million.

Bittium Corporation announced that the Finnish Defence Forces have commenced serial procurement of Bittium Tough SDR Handheld and Vehicular radios, with a purchase order valued at approximately EUR 25.6 million. This order is part of an additional purchase option from a 2018 agreement. Deliveries will occur between 2024 and 2025. The radios will replace the Finnish Defence Forces' existing analogue radios, offering enhanced broadband tactical communications. The Tough SDR radios are compatible with the Bittium Tactical Wireless IP Network system and support NATO-standard communications. Bittium, listed on Nasdaq Helsinki, specializes in secure communications and connectivity solutions, with 2023 net sales of EUR 75.2 million.

Bittium Corporation announced that the Finnish Defence Forces have been authorized by the Finnish Minister of Defence, Antti Häkkänen, to begin serial procurement of Bittium Tough SDR tactical radios from Bittium Wireless Ltd, a subsidiary of Bittium Corporation. The procurement is valued at approximately EUR 25.6 million and is the third additional purchase related to an agreement signed in December 2018. Deliveries of the radios, which will replace existing analogue tactical radios, are planned to start in late 2024 and continue into 2025. These radios will be integrated into the Finnish Army's M18 C5 system and will be used across all military branches. The radios offer enhanced performance through software-defined capabilities and are compatible with the Bittium Tactical Wireless IP Network system. Bittium, a company specializing in secure communication solutions, reported net sales of EUR 75.2 million and an operating loss of EUR 4.3 million in 2023.

Bittium Corporation released its interim report for January-September 2024, noting improvements in net sales, operating results, and cash flow compared to the previous year, alongside significant growth in its order backlog. The company began segment-based financial reporting in 2024, covering Defense & Security, Medical, Engineering Services, and Group Functions. For July-September 2024, net sales remained stable at EUR 14.0 million, with an improved operating result. From January-September 2024, net sales grew to EUR 52.0 million, with an operating result of EUR 2.6 million, aided by efficiency measures and reduced R&D investments. The geopolitical climate positively influenced demand in the Defense & Security segment, which saw a 44% increase in Q3 net sales to EUR 7.0 million. The Medical segment faced challenges with a 22.8% decrease in Q3 net sales to EUR 4.1 million due to slow medical device approvals. The Engineering Services segment also saw a decline, with a 21.2% drop in Q3 net sales to EUR 3.0 million, affected by a challenging market environment. Bittium expects 2024 net sales to be between EUR 85-95 million, with an operating result of EUR 7.0-9.5 million, an improvement from the previous year's operating loss. The company continues to focus on transforming from an R&D entity to a sales-oriented product company. Bittium is listed on Nasdaq Helsinki and specializes in secure communications and connectivity solutions, as well as healthcare technology products.

Bittium Corporation's Board of Directors announced the distribution of an extraordinary dividend of EUR 0.03 per share, as authorized by the Annual General Meeting held on April 10, 2024. The dividend will be paid on October 29, 2024, to shareholders recorded on October 22, 2024. This decision was made as there was no significant deterioration in the business environment in 2024. Bittium, listed on Nasdaq Helsinki, specializes in secure communications and connectivity solutions, information security, and healthcare technology. In 2023, the company reported net sales of EUR 75.2 million and an operating loss of EUR 4.3 million.