Bittium Oyj
OMXH:BITTI
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Bittium Oyj
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Bittium Oyj
Bittium Oyj engages in the production and sale of software and equipment for the automotive and electronics industry. The company is headquartered in Oulu, Oulun and currently employs 653 full-time employees. The company went IPO on 2002-05-31. The company focuses on communications and connectivity solutions development. Its offering includes a wide range of customizable products and services divided into four categories: Tactical Communications, Secure Communications & Connectivity, Medical Technologies and R&D Services. Tactical Communications specializes in military radio and communication solutions by providing products and services for wireless and wire line tactical communications. Secure Communications & Connectivity provides communications and connectivity solutions for public safety & security, defense, healthcare and utility markets. Medical Technologies offers solutions for monitoring bio-signals in the areas of cardiology, neurophysiology, rehabilitation and occupational health. R&D Services offers technology consulting, concept strategy, turnkey product and service development, among others. The firm is active globally.
Bittium Oyj engages in the production and sale of software and equipment for the automotive and electronics industry. The company is headquartered in Oulu, Oulun and currently employs 653 full-time employees. The company went IPO on 2002-05-31. The company focuses on communications and connectivity solutions development. Its offering includes a wide range of customizable products and services divided into four categories: Tactical Communications, Secure Communications & Connectivity, Medical Technologies and R&D Services. Tactical Communications specializes in military radio and communication solutions by providing products and services for wireless and wire line tactical communications. Secure Communications & Connectivity provides communications and connectivity solutions for public safety & security, defense, healthcare and utility markets. Medical Technologies offers solutions for monitoring bio-signals in the areas of cardiology, neurophysiology, rehabilitation and occupational health. R&D Services offers technology consulting, concept strategy, turnkey product and service development, among others. The firm is active globally.
Strong Q4: Bittium delivered an excellent fourth quarter for 2021, achieving over 10% growth and operating profit above 10%, surpassing strategic targets.
Full-Year Growth: 2021 revenue grew nearly 11%, in line with long-term goals, but full-year profitability was slightly below target due to higher costs.
Component Shortages: The global shortage of semiconductors limited production and deliveries, especially in tactical communications, and led to higher component costs and margin pressure.
Medical Product Strength: Medical technology products nearly doubled their sales in Q4 and were the main driver of annual growth.
Outlook Limitation: Due to ongoing component shortages and uncertainty, Bittium only provided guidance for the first half of 2022, expecting flat sales and a negative operating result for that period.
