Bittium: Scalability proved, new clients next - SEB
30 oktober, 08:18
Bittium provided another quarter with strong sales growth driven by Defence & Security. This led to high earnings in D&S, illustrating not only the milestone payments in Spain but also Bittium’s business model scalability. Profitability guidance was hiked. Order intake was at a low level on an absolute basis. While this is seasonally typical for Q3, new clients are needed to continue strong growth. Our fair equity value range is EUR 35-45 (34-44) per share.
SEB Research
This research has been commissioned by the company. Only for professional investors resident in EEA member states. Reports may not be distributed to the US or other jurisdictions where to do so would be unlawful. Please see the disclaimer tab for any details of investment banking services recently provided by SEB that could be considered relevant to the subject matter of this research.
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Bittium: Scalability proved, new clients next - SEB
30 oktober, 08:18
Bittium provided another quarter with strong sales growth driven by Defence & Security. This led to high earnings in D&S, illustrating not only the milestone payments in Spain but also Bittium’s business model scalability. Profitability guidance was hiked. Order intake was at a low level on an absolute basis. While this is seasonally typical for Q3, new clients are needed to continue strong growth. Our fair equity value range is EUR 35-45 (34-44) per share.
SEB Research
This research has been commissioned by the company. Only for professional investors resident in EEA member states. Reports may not be distributed to the US or other jurisdictions where to do so would be unlawful. Please see the disclaimer tab for any details of investment banking services recently provided by SEB that could be considered relevant to the subject matter of this research.
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