PRESS RELEASE

Vaisala Corporation Financial Statement Release January–December 2024

Published by News Desk · February 18, 2025 · Press Release
Vaisala Corporation Financial Statement Release January–December 2024
Vaisala Corporation        Financial Statement Release                February 18, 2025, at 9:00 a.m. (EET) Vaisala Corporation Financial Statement Release January–December 2024 Excellent fourth quarter as market gradually improved This release is a summary of Vaisala’s Financial Statement Release January–December 2024. The complete report is attached to this release as a pdf file. It is also available on the company website at www.vaisala.com/investors. Fourth quarter 2024 highlights January–December 2024 highlights Business outlook for 2025 Vaisala estimates, excluding potential significant changes in market conditions, that its full-year 2025 net sales will be in the range of EUR 590–620 (2024: 565) million and its EBITA will be in the range of EUR 90–105 (2024: 90) million. As of 2025, in its outlook, Vaisala has changed EBIT to EBITA to align with its long-term financial targets. Market outlook for 2025 Markets for industrial and life science market segments started to gradually improve in H2/2024. Similar improvement is expected in 2025. Power market segment is expected to grow. Markets for the more mature markets, meteorology, aviation, and roads, are expected to be stable. Market for renewable energy is expected to be stable. Key figures
MEUR 10-12/2024 10-12/2023 Change 1-12/2024 1-12/2023 Change
Orders received 144.5 147.1 -2% 565.6 528.1 7%
Order book 215.0 172.5 25% 215.0 172.5 25%
Net sales 167.5 147.4 14% 564.6 540.4 4%
Gross profit 94.5 80.1 18% 318.1 301.7 5%
Gross margin, % 56.4 54.3 56.3 55.8
Operating expenses 66.6 64.4 3% 235.8 235.9 0%
EBITA 30.3 18.2 90.3 74.7
% of net sales 18.1 12.3 16.0 13.8
Operating result (EBIT) 28.0 16.3 82.9 66.6
% of net sales 16.7 11.0 14.7 12.3
Result before taxes 26.4 16.1 80.8 63.1
Result for the period 21.4 12.9 63.7 48.9
Earnings per share 0.59 0.36 66% 1.76 1.35 30%
Return on equity, % 22.1 18.9
Research and development costs 19.2 18.1 6% 68.6 67.7 1%
Capital expenditure* 9.4 3.1 206% 19.1 13.9 37%
Depreciation, amortization and impairment 6.9 6.1 14% 24.3 24.3 0%
Cash flow from operating activities 28.9 29.5 -2% 78.9 83.8 -6%
Cash conversion 1.0 1.8 1.0 1.3
Cash and cash equivalents 88.8 90.3 -2%
Interest-bearing liabilities 129.5 62.1 108%
Gearing, % 13.2 -10.5
* Excluding impact of acquired businesses
President and CEO Kai Öistämö “We concluded the year 2024 on a very high note. Despite global challenges marked by increasing geopolitical tensions and business uncertainty, both our business areas showed good growth and profitability. We entered 2025 with a strong EUR 215 million order book. In Q4, our order intake remained steady compared to the previous year. The demand increased for Industrial Measurements and continued strong in Weather and Environment. Our Q4 net sales grew by 14%, reflecting our strong order book with large project orders, continued growth of subscription sales, as well as success in year-end deliveries. The gross margin improved following the growth in net sales and a favorable sales mix. Our full-year order intake increased by 7%, and net sales rose by 4%. After a slow start of the year, we saw gradual improvement in the market demand in Industrial Measurements during the year. In Weather and Environment, the demand was strong throughout the year. Furthermore, our operating result margin improved to 15% as a result of the growth in net sales, improved gross margin, and successful cost management. Throughout the year, we focused on executing our strategic priorities. In Weather and Environment, we built upon our global leadership in weather systems through key customer deals, such as the delivery of weather radars to the State Meteorological Agency of Spain. We significantly improved profitability in the traditional weather business and continued to organically grow our subscription sales. Additionally, we acquired Speedwell Climate and Maxar’s WeatherDesk to build Vaisala Xweather’s position as a weather intelligence partner for insurance and finance customers, as well as Nevis Technology to expand our offering in the offshore wind market. In Industrial Measurements, we launched several new products and were able to hold our strong market position globally despite the challenging year. Q4 also concluded our three-year strategy period with long-term financial targets of average 7% net sales growth and an EBIT margin of 15%. Despite these three years being marked by uncertainty in multiple areas, our team showed resilience and commitment throughout the period. A warm thank you to all Vaisala employees and our partners for making this happen. Towards the end of the year, we also announced changes in the Vaisala Leadership Team. As of January 2025, Samuli Hänninen joined the Vaisala Leadership Team and continues to lead the Xweather business, Anne Jalkala started leading the Weather, Energy and Environment business, and Jarkko Sairanen the Industrial Measurements business. Lorenzo Gulli joined the company to lead strategy and M&A. Sampsa Lahtinen retired after an impressive decade of successfully growing the Industrial Measurements business. As we step into 2025, we expect uncertainty in the market environment to continue, with increased risk of further geopolitical tensions and trade barriers. Excluding potential significant changes in market conditions, we estimate our full-year 2025 net sales will be in the range of EUR 590–620 million and EBITA in the range of EUR 90–105 million.” Board of Directors’ proposal for dividend The parent company’s distributable earnings amount to EUR 221,935,585.08 of which the result for the period is EUR 58,240,409.02. The Board of Directors proposes to the Annual General Meeting that a dividend of EUR 0.85 per share be paid out of distributable earnings totaling EUR 30.8 million and the rest to be carried forward in the shareholders’ equity. No dividend will be paid for treasury shares held by the company. There have been no significant changes in the company’s financial position since the close of the financial period. According to the Board of Directors, the proposed dividend distribution does not endanger the company’s financial standing. Annual General Meeting 2025 Vaisala Corporation’s Annual General Meeting will be held on Tuesday March 25, 2025, at 2:00 p.m. (EET) at Vaisala Corporation’s headquarters, address Vanha Nurmijärventie 21,01670 Vantaa, Finland. Audiocast and teleconference An audiocast and a conference call for analysts, investors and media will be held in English on Tuesday, February 18, 2025, starting at 1:00 p.m. (Finnish time). You can participate in the live audiocast via following link: https://vaisala.events.inderes.com/q4-2024 Questions may be presented by participating in the teleconference. You can access the teleconference by registering on the link below. After the registration, you will receive an email with the dial-in numbers and a conference ID. https://palvelu.flik.fi/teleconference/?id=50051620 A recording will be available at Vaisala.com/investors later the same day. Further information Paula Liimatta +358 9 8949 2020, ir@vaisala.com Vaisala Corporation Distribution Nasdaq Helsinki Key media vaisala.com Vaisala is a global leader in measurement instruments and intelligence for climate action. We equip our customers with devices and data to improve resource efficiency, drive energy transition, and care for the safety and well-being of people and societies worldwide. With almost 90 years of innovation and expertise, we employ a team of close to 2,500 experts committed to taking every measure for the planet. Vaisala series A shares are listed on the Nasdaq Helsinki stock exchange. vaisala.com