Bittium Oyj (0JG5) Q1 2024 Earnings Call

Investor webinar replay

Replay transcript excerpt

and welcome to this press conference on Bittium Corporation's half-year financial report. My name is Karolina Malmi. I'm head of the communications and investor relations at Bittium. Today I'm here with our CEO, Johan Westermark, who will soon give you the presentation. If you have any questions, please use the chat box and the questions will be answered at the end of the presentations. Thank you. So now I will hand over to Johan. Thank you, Carolina. Let's start the presentation, and let's first have a look at some forward-looking statements, just to remind everybody that by nature forward-looking statements involve risk uncertainty, and there is always a risk related to these statements. Today we will go through first the summary of the first half this year, then we will look at the financial review, second quarter first half, we will have the business segments reviews, and then we will look at the outlook for this year, and in the end we will have possibility for questions and answers. Summary. First half, In 2024, net sales grew and operating results improved. Net sales first half was 37.9 million euros, which is an increase of 6.5% year on year. Net sales for Q2 was 19.8 million euros, which was a decrease of 4.4%. Operating results, first half was 2.9 million euros representing 7.7% of net sales and operating results in Q2 was 1.9 million euros representing 9.6% of net sales. And last year we updated our strategy. The strategy was Building the company from an R&D house to a company towards profitable growth. And we can say, and we are on this path. Implementation is going forward systematically and we are on the path. We can see the defense and security business grew 36.6%. year on year. However, medical business was affected by the extended schedules of regula...