Outlook for 2020

(Updated April 30, 2020)

The amount of wireless data transfer applications is expanding and diversifying. Also the amount of data transfer and the need for secure data transfer are growing. These all create demand for Bittium´s leading edge technology products and solutions. The digitalization of healthcare and the increasing use of remote care, make the healthcare services more efficient, creating demand for Bittium´s medical technology products and solutions. During the next years, Bittium aims at strong growth especially in the international markets.

The world-wide new corona virus (SARS-CoV-2) pandemic affects significantly to the global economy and market situation. The prevailing uncertainties in the markets cause week visibility to the market situation.

Despite of the delays in the business development in general and significant increase of the risks and uncertainties, the effects of the pandemic has not yet significantly affected Bittium´s business operations. However, the prolongation of the situation may affect negatively Bittium´s financial development, which is currently difficult to evaluate.

Based on the current information the company sees no reason to change the financial outlook for 2020, published in the company´s financial Statement Bulletin 2019. The company will constantly monitor the development of the market situation and if the outlook should weaken, the company may need to re-evaluate the situation.

Bittium expects that the net sales in 2020 will grow from the previous year (EUR 75.2 million in 2019) and the operating profit to be at the same level than in the previous year (6.3 million in 2019). The level of the operating profit in 2020 will be impacted by the investments in the international growth and depreciations of the R&D investments.

More information about Bittium's market outlook is presented in the Financial Statement Bulletin 2019 in the section "Market Oulook" and on these internet pages in market outlook.

More information about other uncertainties regarding the outlook is presented in the Financial Statement Bulletin 2019 in the section "Risks and uncertainties" and on these internet pages in Identified risks and uncertainties.