Bittium Oyj (0JG5) Q4 2024 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning everyone. My name is Carolina Malmi and I'm happy to be able to welcome you all to this press conference on Bittium Corporation's Financial Statements 2024. I'm here today with our CEO, Johan Vestermark, and he will walk you through our topics today. At the end of the presentation, we have reserved some time for Q&A, and you should find a box to type your questions on the bottom of the screen. But without further ado, I will let Johan to start. Thank you, Carolina. And good morning to everybody. Let's first start with a few statements. Some of these statements made in this material relating to future circumstances by the nature of forward-looking statements involve risk and uncertainty and Bitium Corporation disclaims all obligations to update such forward-looking statements. Then let's start with the summary of 2024. First, we can see that net sales grew, operating results and cash flow improved significantly. Net sales for the full year 24 were 85.2 million euros, which was 13.2% year-on-year growth. Net sales in Q4, 24, were 33.2 million euros, increase of 29.2% year on year. Operating profit in 24 was 8.6, representing 10.1% of net sales. operating profit for Q4 was 6 million, representing 18% of net sales. And cash flow improved significantly in 24, and I will get back to that later in the presentation. And then on our journey from an R&D house towards a profitable growth company is proceeding as planned. And we're looking to the different business segments, defense and security. We had a good strong growth last year in this defense and security business segment. Medical business segment was still affected by extended schedules in regulatory approval process. But at the same time, we have done our homework. We have strengthened the regulatory organi...