Bittium Corporation · OMXHEX:BITTI
Bittium — Q4 2025 Earnings Presentation
26 slides from Bittium's earnings presentation, Feb 19, 2026
Slide 1: Financial Statement Bulletin 2025
Financial Statement Bulletin 2025 CEO Petri Toljamo, CFO Petri Hiljanen 19 February 2025
Slide 2: Forward-Looking Statements
Financial Statement Bulletin 2025 Forward-Looking Statements Some statements made in this material relating to future circumstances or status, including, without limitation, the future performance of the company, expectations regarding market growth, trend projections as well as any statements prece
Slide 3: Agenda
Financial Statement Bulletin 2025 Agenda Highlights 2025 Financial Development 4Q 2025 Financial Development 1-12 2025 Defense & Security Business Segment 2025 Medical Business Segment 2025 Engineering Services Business Segment 2025 Summary and Outlook 2026 Q&A 3 © Bittium 2026
Slide 4: Highlights 2025
Financial Statement Bulletin 2025 | Summary Highlights 2025 1 2 3 4 Streamlined strategy to Order intake grew to Bittium's market Net sales grew 40.1% y- accelerate growth is EUR 153.3 million and position in the defense on-y and operating proceeding as planned. order backlog to EUR market strengthe
Slide 5: Financial Review
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Slide 6: Group Quarterly Financial Development
Financial Statement Bulletin 2025 | Financial Review Group Quarterly Financial Development MEUR +62.5% MEUR 60,0 Net Sales 4Q net sales 20,0 Operating Result Y-on-y 50,0 80,0 % 4Q EBITDA 15,0 40,0 60,0 % 30,0 42.7% 10,0 % of net sales 40,0 % 20,0 (23.0 MEUR) 5,0 10,0 20,0 % 4Q Operating 0,0 0,0 Prof
Slide 7: Group Annual Financial Development
Financial Statement Bulletin 2025 | Financial Review Group Annual Financial Development +40.1% MEUR Net Sales 2025 net sales MEUR Operating Result 140,0 Y-on-y 30,0 30,0 % 120,0 25,0 25,0 % 2025 EBITDA 100,0 20,0 20,0 % 80,0 27.2% 15,0 15,0 % 60,0 % of net sales 10,0 10,0 % (32.4 MEUR) 5,0 5,0 % 40,
Slide 8: R&D Investments
Financial Statement Bulletin 2025 | Financial Review R&D Investments • R&D investments increased, the share of R&D investments from net sales decreased MEUR • MEUR 15.3 equaling 12.9% of the net sales (MEUR 13.5 30,0 30,00% equaling 15.9% of the net sales) 25,0 25,00% • MEUR -4.1 was capitalized (ME
Slide 9: Cash Flow
Financial Statement Bulletin 2025 | Financial Review Cash Flow MEUR 2024 2025 Net profit +/- adjustment of accrual basis items 18.9 33,3 Change in net working capital 7.1 -17,4 Interests and taxes -1.5 -0,6 NET CASH FROM OPERATING ACTIVITIES 24.4 15,3 Net cash from investing activities -6.7 -10,6 Ne
Slide 10: Assets and Liabilities
Financial Statement Bulletin 2025 | Financial Review Assets and Liabilities ASSETS EQUITY AND LIABILITIES • Property, plant • Inventories MEUR • Trade and other and equipment 24.4 59,6 payables MEUR MEUR 19.3 Current • Trade and other Liabilities 83,6 33.9 • Capitalized MEUR receivables MEUR Equity
Slide 11: Defense & Security
Defense & Security
Slide 12: Market Position Strengthened
Financial Statement Bulletin 2025 | Defense & Security Market Position Strengthened • Uncertainty and changes in the global political environment continued. Increased defense funds enabled countries to start investing in modernization of military communication systems. Bittium’s market position has
Slide 13: Shaping Tomorrows Defense - Together
Financial Statement Bulletin 2025 | Defense & Security Shaping Tomorrows Defense - Together Finnish Defence Forces Estonian Defence Forces Croatian Armed Forces Lockheed Martin European country Cooperation since 1989 Modernization of Land Navy and Land communications Two framework agreements as new
Slide 14: Licensing Tough SDR Technology
Financial Statement Bulletin 2025 | Defense & Security Licensing Tough SDR Technology • Bittium and Spanish Indra Group have signed an agreement for licensing of Bittium Tough SDR technology to Indra in December 2025. If the agreement is implemented according to current forecasts, the total value of
Slide 15: Medical
Medical
Slide 16: Focus on Bringing New Devices into Markets
Financial Statement Bulletin 2025 | Medical Focus on Bringing New Devices into Markets • Strategic decision to focus on two commercially ready product business areas Cardiac and Sleep strengthened the structure and clarified roles and responsibilities within the organization. • In 2H 2025, the profi
Slide 17: Engineering Services
Engineering Services
Slide 18: Strengthening Embedded AI and Focus on Defense Market for R&D Services
Financial Statement Bulletin 2025 | Engineering Services Strengthening Embedded AI and Focus on Defense Market for R&D Services • Ongoing customer projects are proceeding well, however many customers postponing their new product development investments due to the uncertainties in the markets. • 2025
Slide 19: Strategy, Outlook 2026 & Long-term Targets, Shares & Shareholders
Shares & Shareholders Strategy Outlook 2026 & Long-term Targets Investor Calendar
Slide 20: Shares and Shareholders
Financial Statement Bulletin 2025 Shares and Shareholders Bittium Share Price & Volume 35,00 Avg. Volume Stock Value € 350000 Share price Shareholders 30,00 300000 +371% +5 042 250000 Y-on-y Total 27 895 25,00 200000 20,00 150000 Fund ownership Foreign owners 15,00 100000 6.9% 6.7% 10,00 50000 5,00
Slide 21: Strong Position to Accelerate International Growth
Financial Statement Bulletin 2025 Strong Position to Accelerate International Growth 4 Pillars of the Growth Strategy Accelerating Technological Expanding to new Transformation to a international sales forerunner - markets and verticals data-driven, scalable and developing Strengthening in defense a
Slide 22: Outlook 2026
Financial Statement Bulletin 2025 Outlook 2026 Bittium estimates the net sales in 2026 to be EUR 140–155 million (EUR 119.3 million in 2025) and Estimated net sales in 2026 operating profit to be EUR 26–32 million (EUR 19.4 million in 2025). The operating result will be 140–155 MEUR affected by depr
Slide 23: Long-Term Financial Targets
Financial Statement Bulletin 2025 Long-Term Financial Targets On 23 September 2025, Average annual revenue growth the Board of Directors of Bittium 20–30 % Corporation approved the company's (revenue growth 40.1 % in 2025) updated long-term financial targets. The update is driven by the strong growt
Slide 24: Investor Calendar in 2026
Financial Statement Bulletin 2025 Investor Calendar in 2026 12 1 11 2 Financial Statement 2025 19.2.2026 10 3Q 2026 3 29.10.2026 9 AGM in Helsinki 22.4.2026 2Q 2026 1Q 2026 7.8.2026 8 5 29.4.2026 7 6 24 © Bittium 2026
Slide 25: Summary
Financial Statement Bulletin 2025 Summary Strong balance Significant short Strong megatrends Presence in large, 1. and long-term growth potential 2. driving market expansion 3. rapidly growing markets 4. sheet and consistent financial development Technological World-class next leadership in next Sol
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