Report By the Board of Directors

Outlook for 2016

Bittium expects that the net sales in 2016 will grow from the previous year (net sales of EUR 56.8 million, in 2015). The development of the operating result includes currently many uncertainties and therefore the company has now decided not to give guidance on the development of the operating result. These uncertainties include possible non-recurring investments in building long-term growth and significant variations in the operating result between the quarters due to the timing of product deliveries.

More information about Bittium´s market outlook is presented in the section “Market outlook´ in this Report by the Board of Directors. More information about other uncertainties regarding the outlook is presented in this Report by the Board of Directors, in the section "Risks and uncertainties" and on the company's internet pages at