Net Sales Grew and Operating Result Improved in 2019
Bittium´s net sales in JanuaryDecember 2019 grew by 19.7 percent year-on-year to EUR 75.2 million (EUR 62.8 million).
The share of the product-based net sales increased to 65.6 percent and was EUR 49.4 million (EUR 30.8 million). The net sales resulted mainly from the deliveries of the tactical communication system and products, Bittium Faros ECG devices, and secure Bittium Tough Mobile smartphones and their related security software. The growth of the product-based net sales was driven in particular by increased sales of Faros devices.
The share of the services-based net sales decreased to 34.4 and was EUR 25.9 million (EUR 32.1 million). The decrease in the services business net sales was caused by the company´s own significant large R&D projects that tie experts into internal product development.
Operating profit was EUR 6.3 million (EUR 2.8 million).