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Finnish defense tech expert Bittium crosses the billion euro mark

Mar 11, 2026

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Bittium Oyj

Finnish defense technology provider Bittium has quietly entered a new milestone. This week, the company’s market capitalization surpassed €1 billion, reflecting growing investor confidence after a year of strong financial performance and expanding international defense contracts.

“Bittium deserves recognition for the company’s long term development,” said Inderes CEO Mikael Rautanen, noting that the provider of connectivity solutions rarely appears on lists of Finland’s most promising growth firms. “A public company with decades of history, a dividend yield and full transparency may simply appear too boring,” Rautanen posted on LinkedIn today.

Oulu-based Bittium has benefited from rising European defense spending and demand for secure communications systems. In 2025, it reported net sales of €119.3 million, a 40.1 percent increase from the previous year. Operating profit reached €19.4 million, more than doubling year over year, while EBITDA climbed to €32.4 million.

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“The year 2025 was a year of international growth for Bittium,” CEO Petri Toljamo said in the company’s financial statement release. “The product development investments of the past years and the efforts to accelerate internationalization and commercialization under the new strategy began to materialize in the results.”

Defense orders have been a key driver. In December alone, the company secured multiple contracts, including a €50 million agreement with Spain’s Indra Group to license its Tough SDR technology. Bittium also signed framework agreements with the Finnish and Swedish Defence Forces.

Bittium expects momentum to continue. For 2026, it forecasts net sales of €140–155 million and operating profit of €26–32 million.

Authors

Emmi Laine

Emmi Laine is head of business content at Listeds and our lead for finance and business coverage. She sets the editorial agenda, interviews Nordic business leaders, and writes stories, newsletters, and social content on timely market and corporate topics. Emmi brings nearly eight years of experience from Shanghai's Yicai Global / Yicai Media Group, where she was awarded for reporting on China’s economy, finance sector, and technology innovation. She holds an MSc in Innovation and Entrepreneurship from ESADE Business School in Barcelona and a Master’s degree in International Design Business Management from Aalto University. She also holds a Bachelor’s degree in Culture Studies with a major in Journalism from Stockholm University and has studied Mandarin Chinese and Chinese culture. Emmi is a Finnish citizen and has lived in Finland, Sweden, China, and Portugal.