Outlook for 2023

(Updated September 15, 2023)

Updated Financial Outlook for 2023

Bittium expects the net sales in 2023 to be at the same level or lower than in the previous year (EUR 82.5 million in 2022) and the operating result to be lower than in the previous year (EUR 0.3 million in 2022). Cash flow in 2023 is expected to be negative.

Previous Financial Outlook for 2023, published on August 4, 2023, in the Half-Year Financial Report January-June 2023

Bittium expects the net sales in 2023 to grow and the operating result to improve from the previous year (net sales EUR 82.5 million in 2022 and operating result EUR 0.3 million in 2022). Cash flow in 2023 is expected to be positive.

Long-term Financial Targets

Bittium aims for an average annual net sales growth of more than 10 percent and an operating profit level of 10 percent and estimates that it will achieve these goals in 2024.

Market Outlook 2023

The global disruption in the availability of electronic components has had a slowing effect on the development of the company's business and sales during the beginning of the year. The company estimates that the markets are recovering, and that the component shortage will recede during 2023.

About 70 percent of Bittium's net sales in total are generated from products and related systems, and the uncertainties caused by the component shortage related to product deliveries cause significant uncertainty for the accumulation of Bittium's net sales and operating result during the year 2023.

More information about Bittium´s market outlook is presented on the company's internet pages at market outlook.