Bittium (BITTI) SEB Nordic Seminar presentation summary

Company overview and financials

• Headquartered in Oulu, Finland, with over 500 employees and offices in Finland, UK, Germany, and USA; listed on Nasdaq Helsinki.

• Net sales reached €85.2M in 2024 with an operating result of €8.6M; R&D investments were 15.9% of net sales.

• Updated 2025 outlook projects net sales of €116–120M and operating result of €19–21M, driven by strong Defense & Security segment growth.

• Share price increased 346% over one year, with a market cap of €1.069B at year-end 2025.

• Dividend of €0.10 per share for 2024, with additional dividends for previous years.

Business segments and growth drivers

• Defense & Security accounted for 60% of 2024 net sales, Medical 23%, and Engineering Services 17%.

• Growth in Defense & Security driven by geopolitical tensions, increased NATO defense spending, and demand for secure communications.

• Medical segment focuses on remote EKG monitoring (Faros) and sleep apnea testing (Respiro), targeting large and growing global markets.

• Engineering Services provides wireless embedded solutions and end-to-end product development, with new AI offerings and focus on defense markets.

• Digitalization, AI, IoT, and cybersecurity are key growth drivers across all segments.

Key products, partnerships, and market expansion

• Defense portfolio includes TAC WIN broadband networks, Tough SDR tactical radios, and Tough Mobile secure smartphones.

• Major licensing agreement with Indra Group for Tough SDR technology, with a €50M initial order and potential €70M additional value over 10 years.

• Strategic partnerships with Finnish, Estonian, Croatian, Austrian, and Swedish defense forces, as well as Lockheed Martin and BAE Systems.

• Medical segment signed a three-year agreement with Boston Scientific for cardiac monitoring devices.

• Engineering Services collaborates with TerreStar and Edge Impulse, and serves clients like KONE, GE Healthcare, and Nokia.