Outlook for 2020

(Updated August 6, 2020)

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

Despite the delays in the business development in general and the significant increase of the risks and uncertainties, the effects of the pandemic have not significantly affected Bittium´s business operations yet. However, the prolongation of the situation may affect Bittium´s financial development negatively, 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 monitors the development of the market situation constantly 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) and the operating profit will be at the same level than in the previous year (6.3 million). 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 Half Year Financial Report January-June 2020 in the section "Outlook for 2020" and on these internet pages in market outlook.

More information about other uncertainties regarding the outlook is presented in the Half Year Financial Report January-June 2020 in the section "Risks and uncertainties" and on these internet pages in Identified risks and uncertainties.