Bittium Corporation · OMXHEX:BITTI
Bittium — H1 2023 Earnings Presentation
20 slides from Bittium's earnings presentation, Aug 4, 2023
Slide 1: Bittium Corporation Half-Year Financial Report January-June 2023
Bittium Corporation Half-Year Financial Report January-June 2023 CEO Johan Westermarck August 4, 2023
Slide 2: Forward-looking Statements
Half-Year Financial Report January-June 2023 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 state
Slide 3: Contents
Contents Summary Business Highlights Financial Review 2Q and 1H 2023 Outlook for 2023
Slide 4: Summary
Half-Year Financial Report January-June 2023 Summary • 1H was weak • the shortage of components especially in 1Q product deliveries in medical technology business • cyclical nature of orders and timing of product deliveries in tactical communication business • 2Q net sales decreased y-on-y, operatin
Slide 5: Business Highlights
Business Highlights
Slide 6: Tactical Communications
Half-Year Financial Report January-June 2023 Tactical Communications • Russia’s invasion of Ukraine has lead the states to increase their defense budgets and new projects to modernize the defense forces of different states are starting • Finland has joined the military alliance NATO, which strengthe
Slide 7: Secure Communications
Half-Year Financial Report January-June 2023 Secure Communications • Numerous cyber security attacks have increased interest in secure communication systems • Interest towards Bittium Tough Mobile™ security phones and security-related software has continued to grow • Bittium Tough Mobile™ secure pho
Slide 8: Medical Technologies
Half-Year Financial Report January-June 2023 Medical Technologies • The deliveries of Bittium Faros™ ECG devices were slowed by the shortage of components • The deliveries of Bittium Respiro™ home sleep apnea measuring devices continued and feedback from the customers’ clinical trials has been posit
Slide 9: R&D Services
Half-Year Financial Report January-June 2023 R&D Services • The demand for R&D services grew • Focus on Industrial IoT, Telecom and MedTech markets • Companies seek for wireless connectivity for their products due to the increasing need for cloud communication enabled by 5G technology • Western comp
Slide 10: Financial Review
Financial Review
Slide 11: Quarterly Development of Net Sales
Half-Year Financial Report January-June 2023 Quarterly Development of Net Sales 35,0 • Total net sales decreased by 8.8% compared to MEUR the previous year and were MEUR 20.7 (MEUR 30,0 22.7) 25,0 • Product-based net sales were MEUR 13.3 20,0 (MEUR 15.8) • The share of Medical Technology products 15
Slide 12: Half-Yearly Development of Net Sales
Half-Year Financial Report January-June 2023 Half-Yearly Development of Net Sales 50,0 • Total net sales decreased by 13.2 % to MEUR 45,0 MEUR 35.6 (MEUR 41.0) 40,0 35,0 • Product-based net sales were MEUR 21.4 30,0 (MEUR 27.2) 25,0 • Share of the Medical Technology products 20,0 was MEUR 11.1 (MEUR
Slide 13: Operating Result Development
Half-Year Financial Report January-June 2023 Operating Result Development Quarterly Half-Yearly 5,0 15,0 % 6,0 10,0 % MEUR 10,0 % 5,0 8,0 % 4,0 MEUR 4,0 6,0 % 5,0 % 3,0 3,0 4,0 % 0,0 % 2,0 2,0 % 2,0 -5,0 % 1,0 0,0 % 1,0 -10,0 % 0,0 -2,0 % -15,0 % -1,0 -4,0 % 0,0 -20,0 % -2,0 -6,0 % -1,0 -25,0 % -3,0
Slide 14: R&D Investments
Half-Year Financial Report January-June 2023 R&D Investments R&D investments remained at the same level y-on-y and MEUR 15,0 40,0 % were MEUR 11.2 equaling 31.4% of the net sales (MEUR 11.1 equaling 27.2% of the net sales) • MEUR 4.4 was capitalized (MEUR 3.0) 30,0 % • Depreciations of R&D investmen
Slide 15: Cash Flow
Half-Year Financial Report January-June 2023 Cash Flow MEUR 1H 2023 1H 2022 Net profit +/- adjustment of accrual basis items 1.2 6.4 Change in net working capital -5.5 0.0 Interests and taxes -0.3 -0.5 NET CASH FROM OPERATING ACTIVITIES -4.6 6.0 Net cash from investing activities -4.7 -3.7 Net cash
Slide 16: Assets and Liabilities
Half-Year Financial Report January-June 2023 Assets and Liabilities The balance sheet of June 30, 2023 was total of MEUR 161.2 • Trade and other payables MEUR 23.4 • Property, plant and • Inventories MEUR 27.0 • Interest-bearing debt equipment MEUR 19.3 • Trade and other receivables MEUR 41.5 MEUR 2
Slide 17: Outlook for 2023
Outlook for 2023
Slide 18: Outlook for 2023
Half-Year Financial Report January-June 2023 Outlook for 2023 Market Outlook • The global disruption in the availability of electronic components has had a slowing effect on the development of the company's business and sales in the beginning of the year. Bittium estimates that the market is recover
Slide 19: Next IR Events 2023
Half-Year Financial Report January-June 2023 Next IR Events 2023 Business Review January-September 2023 20.10.2023 Capital Markets Day 2023 30.10.2023 19 © Bittium 2023
Slide 20: Contact us.
Contact us. www.bittium.com investor.relations@bittium.com