Bittium Corporation
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Change Negotiations Concluded in Bittium Corporation’s Subsidiary, Bittium Biosignals Ltd. in Finland

Bittium Corporation, Stock Exchange Release, June 10, 2025, at 8.30 am (CEST+1)

Bittium has today concluded the change negotiations initiated in Bittium Corporation’s subsidiary Bittium Biosignals Ltd in Finland on 7 May 2025. Bittium Biosignals Ltd. is operating the Finnish entity of Bittium’s Medical Business Segment. The negotiations concerned the whole personnel of Bittium Biosignals Ltd, a total of 102 employees. The change negotiations were initiated as part of the measures to improve profitability and develop operations.

As a result of the negotiations, the employment of a total of 18 employees will be terminated due to the financial and production-related reasons as well as for reasons related to the reorganization of the company’s operations. With the dismissals, if implemented in full, and with other activities aiming to improve the efficiency of operations and processes, Bittium estimates to achieve annual cost savings of approximately EUR 2.0 million. The annual cost savings are estimated to be achieved from 2026 onwards, in full.

Resulting from the decisions and measures, the company will record non-recurring costs of approximately EUR 1.0 million in total in its income statement in the second quarter of 2025, affecting the second quarter operating result of Medical Business Segment.

Bittium has earlier announced its plans to renew Medical Business Segment’s organization, improve the competitiveness of the products, focus the operations further, and grow profitable international business. With these measures Bittium seeks to improve the profitability and strengthen the competitiveness in Medical Business Segment to enable profitable growth. The company will clarify its strategy in Medical Business Segment during the coming fall.

Oulu, Finland,
10 June 2025

Bittium Corporation
Petri Toljamo
CEO
 

Further Information:

Karoliina Malmi
Vice President, Communications & Sustainability
Tel. +358 40 344 2789

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Bittium

Bittium specializes in the development of reliable, secure communications and connectivity solutions leveraging its 40-year legacy of expertise in advanced radio communication technologies. Bittium provides innovative products and services, customized solutions based on its product platforms and R&D services. Complementing its communications and connectivity solutions, Bittium offers proven information security solutions for mobile devices and portable computers. Bittium also provides healthcare technology products and services for biosignal measuring in the areas of cardiology and neurophysiology. Net sales in 2024 were EUR 85.2 million and operating profit EUR 8.6 million. Bittium is listed on Nasdaq Helsinki. www.bittium.com

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Change Negotiations Concluded in Bittium Corporation's Subsidiary, Bittium Biosignals Ltd. in Finland (wkr0006.pdf)