Vaisala Corporation                Interim Report                April 24, 2025, at 9:00 a.m. (EEST)

Vaisala Corporation Interim Report January–March 2025

Strong start of the year amid increasing market uncertainty

First quarter 2025 highlights

• Orders received EUR 121.4 (123.2) million, decrease 1%
• Order book at the end of the period EUR 212.5 (190.4) million, increase 12%
• Net sales EUR 135.6 (112.1) million, increase 21%
• EBITA EUR 20.5 (8.8) million, 15.1 (7.9) % of net sales
• Operating result (EBIT) EUR 17.9 (7.1) million, 13.2 (6.4) % of net sales
• Earnings per share EUR 0.33 (0.14)
• Cash flow from operating activities EUR 18.7 (17.1) million
• Vaisala was selected to deliver seven weather radars and a lightning detection network to Greece.

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 million and its EBITA will be in the range of EUR 90–105 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 grew during the first quarter. Similar development is expected during the rest of the year. Power market segment is expected to grow. However, the market environment remains uncertain, affecting the predictability of these segments' development.

Markets for the more mature markets, meteorology, aviation, and roads, are expected to be stable. Market for renewable energy is expected to decline during this year.

Key figures

* Excluding impact of acquired businesses

President and CEO Kai Öistämö

“We had a strong start of the year 2025 despite the uncertainty in the market environment. Both our net sales and profitability improved from the previous year, with particularly strong performance in the Industrial Measurements business area. We also saw significantly accelerated growth in our Xweather business, fueled by the recent acquisitions of WeatherDesk and Speedwell Climate.

Vaisala’s first quarter order intake was on the same level as in the previous year. Our organic net sales grew by 17%, excluding the acquisitions closed during Q4/2024. We were able to mitigate the impacts of industrial actions in Finland without them affecting our net sales. Our operating result margin improved to 13.2% followed by increased net sales. We closed the quarter with a strong EUR 212.5 million order book.

In the Industrial Measurements business area, the demand continued to develop favorably, and we had a strong quarter in orders received as well as in net sales. Positive development was seen across all regions and segments. It was especially positive to see the life science market continue to grow after a challenging last year.

In the Weather and Environment business area, we had a good quarter in net sales in meteorology and aviation market segments. We continued to deliver on our strong order book. One of the highlights of the quarter was winning a delivery of seven weather radars and a lightning detection network to Greece. However, in the renewable energy market segment, the first quarter was disappointing. New renewable energy investments slowed down, impacting negatively both net sales and orders received in our renewable energy business. Subscription sales increased by 63%, boosted by our recently acquired new businesses and double-digit organic growth.

We also started the year with a renewed Leadership Team with Anne Jalkala and Jarkko Sairanen in their new roles and Lorenzo Gulli and Samuli Hänninen as new members in the Leadership Team.

Looking ahead to the rest of this year, we continue to deliver our strategy as a global leader in measurement instruments and intelligence for climate action. The first quarter gave us a strong start for the year. Nevertheless, we expect the market uncertainty to continue as a result of geopolitical tensions and the risk of trade war escalation. We monitor the situation and prepare for different scenarios to mitigate the possible impacts to our business.

We continue to estimate, excluding potential significant changes in market conditions, that our full-year 2025 net sales will be in the range of EUR 590–620 and EBITA will be in the range of EUR 90–105 million.”

Audiocast and teleconference
An audiocast and a conference call for analysts, investors and media will be held in English on Thursday, April 24, 2025, starting at 1:00 p.m. (Finnish time).

You can participate in the live audiocast via following link: https://vaisala.events.inderes.com/q1-2025

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=50051621

A recording will be available at vaisala.com/investors later the same day.

Further information
Niina Ala-Luopa
+358 400 728 957, 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