Bittium: Clear strategy that now has to be executed
The strategy update, implementing the change and clear focus areas increased our confidence in the company’s development and achieving its financial targets. During the week, Bittium has also announced ResMed cooperation in the sleep apnea area and a new framework agreement with the Finnish Defence Forces. Through these, we raised our earnings estimates for the coming years by some 15%, where the company has its work cut out. The share price has risen forcefully, but the valuation (P/E 2024e 18x) is still reasonable considering the company's development phase.
Bittium
Bittium is specialized in developing secure communications and connectivity solutions using technologies and knowledge on radio technology. Bittium provides products and customized solutions based on its product platforms, and R&D services for customers in various industries. Bittium also offers information security solutions for mobile devices and portable computers.
Read more on company pageKey Estimate Figures2023-10-31
2022 | 23e | 24e | |
---|---|---|---|
Revenue | 82.5 | 77.9 | 90.6 |
growth-% | -5.03 % | -5.61 % | 16.36 % |
EBIT (adj.) | 0.3 | -2.2 | 9.2 |
EBIT-% (adj.) | 0.41 % | -2.76 % | 10.11 % |
EPS (adj.) | 0.01 | -0.08 | 0.24 |
Dividend | 0.05 | 0.05 | 0.12 |
Dividend % | 1.26 % | 0.72 % | 1.72 % |
P/E (adj.) | 489.37 | - | 29.07 |
EV/EBITDA | 13.16 | 35.46 | 11.52 |