Half Year 2025 Vaisala Oyj Earnings Call Transcript
Key Points
- Strong growth in Industrial Measurements across all geographic areas and market segments, with a 10% increase in orders and sales.
- Subscription sales experienced a robust 53% growth, driven by both acquired businesses and organic growth.
- Gross margin ahead of last year, with EBITA also surpassing previous year figures.
- Financial position remains strong with low leverage and an asset-light business model.
- Continued investment in infrastructure, such as the automated logistics center in Vantaa, which is on track for completion.
- Decline in renewable energy business significantly impacted net sales and gross margin.
- Order intake decreased by 16% year-on-year, with a 7% decline in the ending order book.
- Weather Environment segment faced weak market demand, particularly in renewable energy, leading to a 32% decrease in orders received.
- Challenges in the US market due to budget cuts in the National Weather Service and NOAA, causing project delays.
- Currency exchange rate fluctuations, particularly the weakening of the US dollar against the euro, pose a risk to top-line growth.
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Hello everyone and welcome to Vaisala's second quarter and half year results call. I am Niina Ala-Luopa from Vaisala's Investor Relations and today here in this call with me are President and Chief Executive Officer Kai Oistamo, CFO Heli Lindfors, and Chair of the Board Ville Voipio. First Kai will present the results, and after that we have time for questions. Let's start with the presentation.
Thank you, Nina, and welcome also from my side. Looking at the second quarter as the headline says mixed second quarter, and while there was a strong growth in many parts of the business and good performance at the same time, there was a decline especially in the renewable energy business. So, let's dig a little bit deeper into that quarter.
Net sales wise, we were roughly on a previous year's level. The slight decline is largely explained by changes in the exchange
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