Report by the Board of Directors

Outlook for 2018

The growing need for wireless connectivity, increasingly growing amount of data transfer and the need for secure data transfer create demand for Bittium´s competence, products and product platforms. The digitalization of the healthcare market and remote care becoming more common create demand for Bittium´s medical technology products and solutions. In the long term Bittium has good potential to grow profitably. Bittium invests significantly in developing its own products and solutions and aims at growing its net sales based on its products and product platforms.

Bittium expects that the net sales in 2018 will grow from the previous year (EUR 51.6 million, in 2017) and the operating result to be better than in the previous year (EUR -6.2 million, in 2017). The level of operating result in 2018 will be still affected by the investments started in 2017 to enable future growth.

Bittium´s long-term financial targets will be reviewed and estimated as part of the annual strategy process and they will be announced together with the Company´s strategy. Long-term financial targets do not form the Company´s official financial outlook or the statement about the future. More information about Bittium´s market outlook is presented in the section “Market outlook´ in this Report by the Board of Directors.

More information about other uncertainties regarding the outlook is presented in this Report by the Board of Directors in the section “Risks and uncertainties´ and on the Company´s internet pages at