Earnings Release • Nov 27, 2020
Earnings Release
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Free for publication on November 27, 2020 at 2.47 p.m. (CET+1)
Bittium aims to be a significant global provider of secure and safe communication solutions in the defense and public safety markets, and a leading provider of connectivity solutions and R&D services for different industries, as well as a significant provider of remote measuring and diagnostics solutions for measuring and analyzing biosignals. Five years ago, Bittium Corporation updated its strategy in order to strengthen its position in the global markets and to speed up the growth. The growth strategyand long-term financial targets announced at that time remain valid.
Bittium has made significant investments in its future byincreasing significantlyR&Dinvestments in its own products and solutions. These create a good foundation for the future growth. The company will continue to invest in product development and in the development of its operations based on its strategy to enable its international growth.
Bittium continues to search for inorganic growth opportunities in all its product and service areas and is prepared to invest in acquisitions that strengthen the company´s growth strategy.
Bittium's business is divided into three product and service areas: Defense & Security, ConnectivitySolutions and Medical Technologies.
In the Defense & Security product and service area Bittium offers globally leading products and services for its customers in the defense, security and public safety markets aiming at strengthening the national security of independent countries. Bittium´s competitiveness in these markets is based on trust and reliability, high qualityof the products and services, as well as on advanced technologyand securityknow-howdeveloped within the companyduring the last 35 years.
Bittium's tactical communication products targeted for customers in the defense market offer new kind of efficiencyfor their management systems with products that enable faster data transfer, better mobility, and large compatibility with other communication systems. Secure communication solutions, targeted for public safety market, are responding to the increasing requirements for the information security. The demand for secure communication solutions in the public safetymarkets is driven bythe increasing use of LTE-technology, smart phones and smartphone applications.
The development ofwireless technologycontinues and the digitalization creates a growing need for wireless connections. Bittium offers its customers R&Dservices and wireless connectivitysolutions for the development of new innovative products in secure and evolving wireless environment. The company's competitiveness in these markets is based on its unique technology and information security expertise, as well as reliability and quality of its products and services. Bittium's special strength is demanding systems.
The medical technologymarket is undergoing significant developments in patient care, especiallyoutside hospitals. There is an increasing focus on the prevention of diseases and health problems through early diagnosis and the repatriation of patients at an earlier stage in order to reduce hospital and treatment days. These trends create demand for biosignal measurement, digitization of services,wireless, and secure connections.
Bittium aims at promoting better health in society by providing products and complete solutions for the healthcare market in biosignals' remote monitoring and diagnostics, based on the company's long experience and deep knowledge of biosignal measurement,wireless communications and securitytechnology.
Bittium aims for an average annual net sales growth of more than 10 percent and an operating result level of 10 percent.
In Oulu, November 27, 2020
The Board of Directors Bittium Corporation
Hannu Huttunen CEO Tel. +358 40 344 3507
Nasdaq Helsinki Oy Main media
Bittium specializes in the development of reliable, secure communications and connectivitysolutions leveraging its 35 year legacyof expertise in advanced radio communication technologies. Bittium provides innovative products and services, customized solutions based on its product platforms and R&Dservices. Complementing its communications and connectivitysolutions, Bittium offers proven information securitysolutions for mobile devices and portable computers. Bittium also provides healthcare technologyproducts and services for biosignal measuring in the areas of cardiology, neurology, rehabilitation, occupational health and sports medicine. Net sales in 2019 were EUR75.2 million and operating profitwas EUR6.3 million. Bittium is listed on Nasdaq Helsinki.www.bittium.com
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