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2015-08-24

Bittium Oyj: Bittium Corporation has published its Interim Financial Statements from the period January 1 - July 1, 2015

Stock Exchange Release

Free for publication on August 24, 2015 at 8.02 a.m.
Bittium Corporation has published its Interim Financial Statements from the
period January 1 - July 1, 2015

As part of the arrangement to distribute the net proceeds from the sale of its
Automotive business to its shareholders, Bittium Corporation has prepared its
interim financial statements from the period of January 1 - July 1, 2015. The
audited interim financial statements that includes parent company's and
Group's consolidated statement of comprehensive income, consolidated balance
sheet, consolidated cash flow statement, notes to the financial statements
and report by the board of directors, are attached in whole to this release
and are available also at company's internet pages atwww.bittium.com.

The interim financial statement includes the profits from the Automotive
business and the costs from the transaction of the sale of Automotive
business and from the discontinued demerger process. The distributable assets
of the parent company in the interim financial statements were EUR 631.5
million, of which the profit of the financial year and retained earnings were
EUR 605.8 million. On July 1, 2015 the cash and other liquid assets of the
Parent Company were EUR 619.4 million. On July 1, 2015 the Group's cash and
other liquid assets were EUR 622.1 million, and interest bearing debt were
EUR 7.4 million, of which leasing liabilities represent EUR 1.3 million.

According to the stock exchange release announced today, the Board of
Directors of Bittium Corporation proposes to the Extraordinary General
Meeting that the net proceeds from the sale of Automotive Business, a maximum
of EUR 595 million, will be distributed to its shareholders by repurchasing
own shares and option rights in a voluntary public tender offer directed to
all shareholders and option right owners of the company. A more specific
description of the public tender offer and its conditions is presented in the
stock exchange release published today.

Bittium Corporation, balance sheet of the parent company July 1, 2015, FAS,
million euros

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| ASSETS 1.7.2015 31.12.2014 |
| Non-current assets |
| Intangible assets 0.0 0.1 |
| Tangible assets 0.1 0.1 |
| Investments 39.7 86.5 |
| Non-current assets total 39.8 86.6 |
| |
| Current assets |
| Receivables |
| Non-current receivables 0.0 0.0 |
| Current receivables 0.2 2.5 |
| Current assets total 0.2 2.5 |
| Financing securities 15.8 21.0 |
| Cash and bank deposits 603.6 0.9 |
| Current assets total 619.6 24.4 |
| TOTAL ASSETS 659.4 111.1 |
--------------------------------------------------

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| SHAREHOLDERS' EQUITY AND LIABILITIES 1.7.2015 31.12.2014 |
| Shareholders' equity |
| Share capital 12.9 12.9 |
| Invested non-restricted equity fund 25.8 25.1 |
| Retained earnings 59.4 67.1 |
| Net profit for the period 546.4 -2.4 |
| Shareholders' equity total 644.5 102.7 |
| |
| Provisions |
| Provisions, non-current 1.0 0.0 |
| Provisions, current 3.1 0.1 |
| |
| Liabilities |
| Non-current liabilities 0.0 0.0 |
| Current liabilities 10.8 7.9 |
| Liabilities total 10.8 8.2 |
| SHAREHOLDERS' EQUITY AND LIABILITIES TOTAL 659.4 111.1 |
--------------------------------------------------------------------
Bittium Corporation, consolidated balance sheet of the Group July 1, 2015,
IFRS, million euros

-------------------------------------------------------------------------------
| ASSETS 1.7.2015 31.12.2014 |
| Non-current assets |
| Property, plant and equipment 3.9 10.7 |
| Goodwill 1.4 19.3 |
| Intangible assets 6.6 17.0 |
| Other financial assets 0.1 0.1 |
| Deferred tax assets 0.9 1.7 |
| Non-current assets total 13.0 48.8 |
| |
| Current assets |
| Inventories 1.8 2.2 |
| Trade and other receivables 22.0 72.5 |
| Financial assets at fair value through profit or loss 15.9 21.0 |
| Cash and short-term deposits 606.2 22.3 |
| 645.9 118.0 |
| |
| TOTAL ASSETS 658.8 166.8 |
-------------------------------------------------------------------------------

------------------------------------------------------------------------------------
| SHAREHOLDERS' EQUITY AND LIABILITIES 1.7.2015 31.12.2014 |
| Equity attributable to equity holders of the parent |
| Share capital 12.9 12.9 |
| Translation differences 1.2 1.5 |
| Invested non-restricted equity fund 25.8 25.1 |
| Retained earnings 588.9 53.8 |
| 628.8 93.4 |
| |
| Non-controlling interests |
| Total equity 628.8 93.4 |
| |
| Non-current liabilities |
| Deferred tax liabilities 0.1 0.5 |
| Pension obligations 0.0 3.0 |
| Interest-bearing loans and borrowings (non-current) 0.7 3.8 |
| Provisions 1.2 0.2 |
| 2.0 7.6 |
| Current liabilities |
| Trade and other payables 16.4 58.5 |
| Financial liabilities at fair value through profit or loss 0.0 0.2 |
| Provisions 5.0 2.6 |
| Interest-bearing loans and borrowings 6.7 4.5 |
| 28.0 65.8 |
| |
| Total liabilities 30.0 73.4 |
| |
| Total equity and liabilities 658.8 166.8 |
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Oulu, August 24, 2015

Bittium Corporation

Board of Directors

Further Information:

Veli-Pekka Paloranta

CFO

Bittium Corporation

Tel. +358 40 344 5466

Distribution:

NASDAQ Helsinki

Main media

Bittium

Bittium is specialized in developing reliable and secure communications and
connectivity solutions using the latest technologies and deep knowledge on
radio technology. Bittium provides innovative products and customized
solutions based on its product platforms, and R&D services for customers in
various industries. Bittium also offers high quality information security
solutions for mobile devices and portable computers. Net sales of continuing
operations in 2014 was EUR 52.7 million and operating profit was EUR 0.8
million. Bittium is listed on Nasdaq Helsinki.www.bittium.com

Appendix: Bittium Corporation Interim Financial Statements July 1, 2015

Bittium Corporation Interim Financial Statements July 1, 2015
http://hugin.info/120213/R/1947122/706936.pdf

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This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Bittium Oyj via Globenewswire

HUG#1947122

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