Slide 1: Half-Year Financial Report 1-6 2025
Half-Year Financial Report 1-6 2025 CEO Petri Toljamo 8 August 2025
Slide 2: Forward-Looking Statements
Half-Year Financial Report January-June 2025 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 Forward- as any statements preceded by
Slide 3: Contents
Contents ▪ Summary ▪ Financial Review 2Q and 1H 2025 ▪ Business Segments in 1H 2025 ▪ Outlook 2025 ▪ Q&A
Slide 4: Summary
Half-Year Financial Report January-June 2025 Net sales and order book grew - 2Q 2025 net sales grew by 15.6 % y-on-y and were MEUR 22.9 - Defense & Security’s net sales grew by 19.4 % and order intake grew significantly to MEUR 20.0 - Medical net sales grew by 4.5 % and order intake grew to MEUR 4.6
Slide 5: Financial Review
Financial Review
Slide 6: Group Quarterly Financial Development
Half-Year Financial Report January-June 2025 Group Quarterly Financial Development MEUR Net Sales +15.6 % y-on-y MEUR Operating Result 35,0 20,0 % 9,0 30,0 15,0 % 7,0 25,0 10,0 % 5,0 20,0 5,0 % 3,0 15,0 0,0 % 1,0 10,0 -1,0 -5,0 % 5,0 -3,0 -10,0 % 0,0 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 2023 2023 2023 2024 20
Slide 7: Group Half-Yearly Financial Development
Half-Year Financial Report January-June 2025 Group Half-Yearly Financial Development MEUR Net Sales MEUR Operating Result +11.3 % y-on-y 6,0 15,0 % 50,0 4,0 10,0 % 40,0 2,0 5,0 % 30,0 20,0 0,0 0,0 % 10,0 -2,0 -5,0 % 0,0 -4,0 -10,0 % 1H 2H 1H 2H 1H 2H 1H 1H 2H 1H 2H 1H 2H 1H 2022 2022 2023 2023 2024
Slide 8: R&D Investments
Half-Year Financial Report January-June 2025 R&D Investments MEUR • Level of R&D investments decreased y-on-y 14,0 40,0 % • MEUR 7.7 equaling 18.2% of the net sales (MEUR 7.9 12,0 equaling 20.9% of the net sales) 30,0 % • MEUR 2.2 was capitalized (MEUR 3.9) 10,0 • Depreciations of R&D investments we
Slide 9: Cash Flow
Half-Year Financial Report January-June 2025 Cash Flow MEUR 1H 2025 1H 2024 2024 Net profit +/- adjustment of accrual basis items 4.2 7.6 18.9 Change in net working capital 5.1 -3.9 7.1 Interests and taxes -0.1 -0.8 -1.5 NET CASH FROM OPERATING ACTIVITIES 9.2 3.0 24.4 Net cash from investing activit
Slide 10: Assets and Liabilities
Half-Year Financial Report January-June 2025 Assets and Liabilities The balance sheet of 30 June 2025, was a total of MEUR 160.4 • Trade and other payables MEUR 24.0 • Property, plant and • Inventories MEUR 24.7 • Interest-bearing debt equipment MEUR 19.0 • Trade and other receivables MEUR 28.9 MEUR
Slide 11: Development of Business Segments
Development of Business Segments
Slide 12: Defense & Security Business Segment
Half-Year Financial Report January-June 2025 Defense & Security Business Segment MEUR +22.2 % y-on-y +19.4 % y-on-y Order intake increased in 2Q y-on-y and order backlog grew significantly 25,0 30,0 Finland – Finnish Defence Forces 25,0 20,0 • Partnership Agreement ramp-up continued 20,0 • New Bitti
Slide 13: Medical Business Segment
Half-Year Financial Report January-June 2025 Medical Business Segment MEUR +4.5 % y-on-y -2.6% y-on-y • 2Q net sales increased y-on-y and operating result was negative due to non-recurring costs of MEUR 0.9 resulting from change negotiations and other measures 8 12 7 • Order intake increased in 2Q y
Slide 14: Engineering Services Business Segment
Half-Year Financial Report January-June 2025 Engineering Services Business Segment MEUR +8.5 % y-on-y +6.3 % y-on-y • Ongoing customer projects are proceeding well, and 8 new extension projects won 6 7 • Order intake increased significantly y-on-y in 2Q 5 6 • First defense sector service projects wo
Slide 15: Summary & Outlook 2025
Summary & Outlook 2025
Slide 16: Summary
Half-Year Financial Report January-June 2025 Summary Megatrends supporting the growth, especially in Defense & Security Market for ECG and Home Sleep Apnea Testing devices is growing – Activities to win new customers and market share ongoing Despite the challenging market situation, Engineering Serv
Slide 17: Financial Outlook 2025
Half-Year Financial Report January-June 2025 Net Sales Bittium expects the net sales in 2025 to be EUR 95 – 105 million (net sales EUR 85.2 million in 2024) Financial Outlook Operating Result Bittium expects the operating result in 2025 to be EUR 10-13 million 2025 (operating result EUR 8.6 million
Slide 18: Investor Calendar in 2025
Half-Year Financial Report January-June 2025 3Q 2025 24.10.2025 Investor CMD 1Q 2025 Calendar 23.9.2025 29.4.2025 in 2025 2Q 2025 AGM 8.8.2025 7.5.2025 18 © Bittium 2025
Slide 19: Q&A
Q&A www.bittium.com investor.relations@bittium.com