Slide 1: Bittium Corporation Financial Statement 2022
Bittium Corporation Financial Statement 2022 CEO Hannu Huttunen | CFO Pekka Kunnari February 10, 2023
Slide 2: Forward-looking Statements
Financial Statement 2022 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 preceded by th
Slide 3: Contents
Contents Highlights 2022 Financial Review 4Q and 1-12 2022 Outlook for 2023
Slide 4: Highlights 2022
Highlights 2022 CEO Hannu Huttunen
Slide 5: Tactical Communication – Highlights 2022
Financial Statement 2022 Tactical Communication – Highlights 2022 • Russia’s invasion of Ukraine has led the states to increase their defense budgets and new projects to modernize the defense forces of different states are starting • In the first phase, the increased defense appropriations have been
Slide 6: Secure Communications – Highlights 2022
Financial Statement 2022 Secure Communications – Highlights 2022 • The numerous information security attacks observed recently have increased the interest of government actors in secure communication systems • Demand for Bittium Tough Mobile™ security phones and security-related software has continu
Slide 7: Medical Technologies – Highlights 2022
Financial Statement 2022 Medical Technologies – Highlights 2022 • The demand for Bittium Faros™ ECG devices increased, especially in Europe • However, most of the product deliveries were made to the US customer Preventice Solutions (subsidiary of the Boston Scientific Group) • Bittium Respiro™, a ho
Slide 8: R&D Services – Highlights 2022
Financial Statement 2022 R&D Services – Highlights 2022 • The R&D services market has recovered from the coronavirus pandemic and active sales and marketing work was started again • Expanding 5G implementations generate good demand for R&D services in the Industrial IoT, Telecom and MedTech technolo
Slide 9: Financial Review
Financial Review CFO Pekka Kunnari
Slide 10: Quarterly Development of Net Sales
Financial Statement 2022 Quarterly Development of Net Sales MEUR 35,0 • Total net sales decreased by 8.1 % to MEUR 27.6 (MEUR 30.1) 30,0 25,0 • Product-based net sales were MEUR 20.9 20,0 (MEUR 23.0) • The share of Medical Technology products 15,0 was MEUR 5.1 (MEUR 7.4) 10,0 • The share of Defense
Slide 11: Yearly Development of Net Sales
Financial Statement 2022 Yearly Development of Net Sales 90,0 • Total net sales decreased by 5.1 % to MEUR MEUR 80,0 82.5 (MEUR 86.9) 70,0 60,0 • Product-based net sales were MEUR 57.4 (MEUR 63.1) 50,0 • Share of the Medical Technology products 40,0 was MEUR 22.6 (MEUR 27.8) 30,0 • Share of the Defe
Slide 12: Operating Result Development
Financial Statement 2022 Operating Result Development By Quarters By Years 7,0 9,0 % 5,0 15,0 % 8,0 % MEUR 4,0 10,0 % MEUR 6,0 7,0 % 3,0 5,0 5,0 % 6,0 % 2,0 0,0 % 4,0 5,0 % 1,0 -5,0 % 3,0 4,0 % 0,0 3,0 % -10,0 % 2,0 -1,0 2,0 % -2,0 -15,0 % 1,0 1,0 % -3,0 -20,0 % 0,0 0,0 % 4Q 1Q 2Q 3Q 4Q 2019 2020 20
Slide 13: R&D Investments
Financial Statement 2022 R&D Investments R&D investments increased y-on-y and were MEUR 22.3 MEUR 30,0 50,0 % equaling 27.0% of the net sales (MEUR 19.8 equaling 22.8% of the net sales) 25,0 40,0 % • MEUR 6.6 was capitalized (MEUR 7.0) • Depreciations of R&D investments were MEUR 5.9 (MEUR 5.5) 20,0
Slide 14: Cash Flow
Financial Statement Bulletin 2022 Cash Flow MEUR 2022 2021 Net profit +/- adjustment of accrual basis items 11.7 15.2 Change in net working capital -2.9 -6.2 Interests and taxes -0.8 -0.7 NET CASH FROM OPERATING ACTIVITIES 8.0 8.3 Net cash from investing activities -8.0 -8.4 Net cash from financing
Slide 15: Assets and Liabilities
Financial Statement Bulletin 2022 Assets and Liabilities The balance sheet of December 31, 2022 was total of MEUR 169.7 • Trade and other payables MEUR 26.4 • Property, plant and • Inventories MEUR 24.2 • Interest-bearing debt equipment MEUR 19.7 • Trade and other receivables MEUR 41.4 MEUR 22.4 • C
Slide 16: Outlook for 2023
Outlook for 2023 CEO Hannu Huttunen
Slide 17: Outlook for 2023
Financial Statement Bulletin 2022 Outlook for 2023 Market Outlook • The global disruption in the availability of electronic components that followed the coronavirus pandemic has had a slowing effect on the development of the company's business and sales in 2021 and 2022. The company estimates that t
Slide 18: Contact us.
Contact us. www.bittium.com investor.relations@bittium.com