Annual Report 2022
Report by the Board of Directors
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Outlook for 2023

Market Outlook 2023

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 the markets are recovering, and that the component shortage will ease during 2023.

About 70 percent of Bittium´s net sales in total are generated from products and related systems, and the uncertainties related to product deliveries cause significant uncertainty for the accumulation of Bittium´s net sales and operating result during the year 2023.

More information about Bittium´s market outlook is presented in this report in the section “Market Outlook´ as well as on the company´s internet pages at

Financial Outlook 2023

Bittium expects the net sales in 2023 to grow and the operating result to improve from the previous year (net sales EUR 82.5 million in 2022 and operating result EUR 0.3 million in 2022). Cash flow in 2023 is expected to be positive. Due to the shortage of components, the first quarter of 2023 will be weak.

Long-term Financial Targets

Bittium aims for an average annual net sales growth of more than 10 percent and an operating profit level of 10 percent and estimates that it will achieve these goals in 2024.