Bittium Corporate Strategy

(Updated November 27, 2020)

Overview

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 strategy and long-term financial targets announced at that time remain valid.

Bittium has made significant investments in its future by increasing significantly R&D investments 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, Connectivity Solutions and Medical Technologies.

Defense & Security

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 quality of the products and services, as well as on advanced technology and security know-how developed within the company during the last 35 years.

Bittium's tactical communication products targeted for customers in the defense market offer new kind of efficiency for 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 safety markets is driven by the increasing use of LTE-technology, smart phones and smartphone applications.

Connectivity Solutions

The development of wireless technology continues and the digitalization creates a growing need for wireless connections. Bittium offers its customers R&D services and wireless connectivity solutions 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.

Medical Technologies

The medical technology market is undergoing significant developments in patient care, especially outside 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 security technology.

Long-term Financial Targets

(Updated December 9, 2022)

Bittium announced on November 27, 2020, that it aims for an average annual net sales growth of more than 10 percent and an operating profit level of 10 percent.

The global coronavirus pandemic and the worldwide disruption in the availability of electronic components that followed the pandemic have slowed down the development of the company's business and sales in 2021 and 2022. However, the company now estimates that the market is recovering, and the component shortage will recede during 2023.

The Board of Directors of Bittium Corporation has decided to specify the company's long-term financial goals due to the recovery of the market and the expected favorable business development. Bittium continues to aim for an average annual net sales growth of more than 10 percent and an operating profit level of 10 percent and now estimates that it will achieve these goals in 2024.