Bittium Oyj Full Year 2023 Earnings: Misses Expectations

Bittium Oyj (HEL:BITTI) Full Year 2023 Results

Key Financial Results

• Revenue: €75.5m (down 9.0% from FY 2022).
• Net loss: €5.43m (down from €253.0k profit in FY 2022).
• €0.15 loss per share (down from €0.007 profit in FY 2022).

All figures shown in the chart above are for the trailing 12 month (TTM) period

Bittium Oyj Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 3.5%. Earnings per share (EPS) also missed analyst estimates by 155%.

The primary driver behind last 12 months revenue was the Finland segment contributing a total revenue of €32.1m (43% of total revenue). Notably, cost of sales worth €59.3m amounted to 79% of total revenue thereby underscoring the impact on earnings.Explore how BITTI's revenue and expenses shape its earnings.

Looking ahead, revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Software industry in Finland.

Performance of the Finnish Software industry.

The company's shares are up 3.5% from a week ago.

Balance Sheet Analysis

While earnings are important, another area to consider is the balance sheet. See our latest analysis on Bittium Oyj's balance sheet health.

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