Brief: Bittium Q1 Order Backlog Down At EUR 28.7 Million

Bittium Oyj

27/04/2023 06:12

April 27 (Reuters) - Bittium Oyj  BITTI.HE :
    * Q1 ORDER BACKLOG WAS EUR 28.7 MILLION (EUR 33.3 MILLION).
    * DECREASE IN NET SALES WAS MAINLY CAUSED BY LOW
PRODUCT-BASED NET
SALES IN DEFENSE & SECURITY BUSINESS
    * DEFENSE & SECURITY BUSINESS WAS AFFECTED BY QUARTERLY
CYCLICAL
NATURE OF ACCUMULATION OF NET SALES
    * GROWTH OF NET SALES WAS SLOWED BY COMPONENT SHORTAGE,
WHICH
AFFECTED OUR ABILITY TO DELIVER PRODUCTS TO OUR CUSTOMERS
    * SERVICE-BASED NET SALES REMAINED AT SAME LEVEL COMPARED TO
PREVIOUS YEAR.
    * ESTIMATES THAT MARKETS ARE RECOVERING AND THAT COMPONENT
SHORTAGE WILL EASE DURING 2023.
    * UNCERTAINTIES RELATED TO PRODUCT DELIVERIES CAUSE
SIGNIFICANT
UNCERTAINTY FOR ACCUMULATION OF BITTIUM'S NET SALES AND
OPERATING RESULT DURING YEAR 2023
    * EXPECTS NET SALES IN 2023 TO GROW AND OPERATING RESULT TO
IMPROVE FROM PREVIOUS YEAR
    * BITTIUM AIMS FOR AN AVERAGE ANNUAL NET SALES GROWTH OF
MORE THAN
10 PERCENT AND AN OPERATING PROFIT LEVEL OF 10 PERCENT

Source text for Eikon:  ID:nWkr9Rw13W 
Further company coverage:  BITTI.HE 

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