Bittium Corporation lowered earnings guidance for the year 2023. For the year, the company expects the net sales in 2023 to be at the same level or lower than in the previous year (EUR 82.5 million in 2022), and the operating result to be lower than in the previous year (EUR 0.3 million in 2022). The main reason for the decrease in net sales and operating profit is the delivery volumes of tactical communication products and security solutions in the Defense & Security business unit, which are realizing during the current year at a slower pace and with lower volumes than expected.

Due to the decrease in the net sales and operating result, the cash flow in 2023 is expected to be negative. Previous Financial Outlook for 2023, published on August 4, 2023, in the Half-Year Financial Report January-June 2023: Bittium expected 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 resultEUR 0.3 million in 2022). Cash flow in 2023 is expected to be positive.