Pressmeddelanden, rapporter och bolagsmeddelande för Bittium Oyj

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.

Bittium Corporation announced a change in its management group with the appointment of Erik Ahnger as Vice President of Business Development, effective by January 7, 2025. Ahnger, who will report to CEO Johan Westermarck, previously held roles at Patria Plc, Helmet Capital, and PwC. This appointment is part of Bittium's strategic shift from a product development focus to a growth and customer-oriented model. The management group will include CEO Johan Westermarck, CFO Petri Hiljanen, CLO Kari Jokela, VP Communications and Sustainability Karoliina Malmi, and heads of various business segments. Bittium specializes in secure communications and connectivity solutions, with 2023 net sales of EUR 75.2 million and an operating loss of EUR 4.3 million. The company is listed on Nasdaq Helsinki.

Bittium Corporation announced that a consortium led by its subsidiary, Bittium Wireless Ltd, has signed a framework agreement with Lockheed Martin. This agreement is part of the indirect industrial cooperation related to Finland's F-35 fighter jet procurement. The three-year project, valued at approximately USD 3.8 million, involves developing cyber situational awareness for tactical networks. Other consortium members include VTT Technical Research Centre of Finland Ltd and Huld Oy. The project aims to enhance the cyber resilience of Bittium's Tactical Wireless IP Network™ and Tough SDR™ radios, benefiting the Finnish Defence Forces. This agreement continues the existing collaboration between the consortium and Lockheed Martin, focusing on improving tactical communications systems.

Bittium Corporation announced that it will supply the Estonian Defence Forces with additional products to enhance next-generation tactical communications. This order is part of a Framework Agreement between Bittium’s Estonian partner and the Estonian Defence Forces, covering the years 2021 to 2025. The new products aim to improve the IP data transfer capability of the Estonian Land Forces and include the Bittium Tactical Wireless IP Network™ (TAC WIN), Bittium Tough Comnode™ devices, and Bittium Tough VoIP Field Phone™ 2 products, among others. The value of the order is approximately EUR 1.8 million, with deliveries starting in 2024. Bittium, a Finnish company with over 35 years of experience, specializes in advanced radio communication technologies and secure communications solutions.