Bittium Corporation
Other information disclosed according to the rules of exchange
Change Negotiations Concluded in Bittium Corporation's Subsidiary, Bittium
Biosignals Ltd. in Finland
Bittium Corporation, Stock Exchange Release, June 10, 2025, at 8.30 am (CEST+1)
Bittium has today concluded the change negotiations initiated in Bittium
Corporation's subsidiary Bittium Biosignals Ltd in Finland on 7 May 2025.
Bittium Biosignals Ltd. is operating the Finnish entity of Bittium's Medical
Business Segment. The negotiations concerned the whole personnel of Bittium
Biosignals Ltd, a total of 102 employees. The change negotiations were initiated
as part of the measures to improve profitability and develop operations.
As a result of the negotiations, the employment of a total of 18 employees will
be terminated due to the financial and production-related reasons as well as for
reasons related to the reorganization of the company's operations. With the
dismissals, if implemented in full, and with other activities aiming to improve
the efficiency of operations and processes, Bittium estimates to achieve annual
cost savings of approximately EUR 2.0 million. The annual cost savings are
estimated to be achieved from 2026 onwards, in full.
Resulting from the decisions and measures, the company will record non-recurring
costs of approximately EUR 1.0 million in total in its income statement in the
second quarter of 2025, affecting the second quarter operating result of Medical
Business Segment.
Bittium has earlier announced its plans to renew Medical Business Segment's
organization, improve the competitiveness of the products, focus the operations
further, and grow profitable international business. With these measures Bittium
seeks to improve the profitability and strengthen the competitiveness in Medical
Business Segment to enable profitable growth. The company will clarify its
strategy in Medical Business Segment during the coming fall.
Oulu, Finland,
10 June 2025
Bittium Corporation
Petri Toljamo
CEO
Further Information:
Karoliina Malmi
Vice President, Communications & Sustainability
Tel. +358 40 344 2789
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Bittium
Bittium specializes in the development of reliable, secure communications and
connectivity solutions leveraging its 40-year legacy of expertise in advanced
radio communication technologies. Bittium provides innovative products and
services, customized solutions based on its product platforms and R&D services.
Complementing its communications and connectivity solutions, Bittium offers
proven information security solutions for mobile devices and portable computers.
Bittium also provides healthcare technology products and services for biosignal
measuring in the areas of cardiology and neurophysiology. Net sales in 2024 were
EUR 85.2 million and operating profit EUR 8.6 million. Bittium is listed on
Nasdaq Helsinki. www.bittium.com