Bittium (BITTI) Q1 2026 earnings summary

Executive summary

• Net sales increased by 10.2% year-over-year to EUR 21.3 million, driven by strong Defence & Security and Medical segments, while Engineering Services declined.

• EBITDA rose to EUR 2.8 million (13.2% of net sales), and operating profit improved to EUR 1.5 million (7.0% of net sales).

• Order intake reached EUR 34.8 million, with a record order backlog of EUR 92.5 million, mainly from Defence & Security.

• Cash flow from operating activities surged to EUR 28.1 million, supporting growth and investments.

• Dividend of EUR 0.15 per share approved, with authorization for an additional extraordinary dividend.

Financial highlights

• Product-based net sales grew to EUR 14.2 million (66.7% of total), while services-based net sales declined to EUR 7.1 million.

• Result for the period was EUR 1.1 million, with EPS at EUR 0.031.

• Net cash flow was EUR 25.8 million; cash and liquid assets totaled EUR 46.7 million.

• R&D expenses increased to EUR 4.6 million (21.6% of net sales).

• Net gearing improved to -20.2%; equity ratio stood at 72.0%.

Outlook and guidance

• Net sales for 2026 expected at EUR 140–155 million, with operating profit of EUR 26–32 million.

• Results anticipated to be weighted toward the second half of 2026 due to timing of large orders.