Vaisala Oyj Class A · OMXHEX:VAIAS
Vaisala Oyj Class A — Q2 2016 Earnings Presentation
16 slides from Vaisala Oyj Class A's earnings presentation, Jul 21, 2016
Slide 1: Half Year Financial Report 2016
2016‐07‐21 Half Year Financial Report 2016 Vaisala Corporation July 21, 2016 Vaisala Q2/16 slightly below previous year’s performance Q2/2016 Q2/2015 Change % Orders received, EUR million 77.0 78.5 -2 Order book, EUR million 123.5 140.4 -12 Net sales, EUR million 75.6 77.0 -2 Gross margin, % 49.2 49
Slide 2: Order intake decreased though Controlled Environment grew; order book declined
2016‐07‐21 Vaisala order intake decreased even though Controlled Environment grew Orders received EUR 77.0 (78.5) million, -2% 100 The decrease came from EMEA 90 80 24.0 23.2 Weather Business Area 70 23.6 26.8 EUR 50.1 (54.9) million, -9% 60 23.6 23.9 The decrease came from Transportation
Slide 3: Project deliveries modest; Weather net sales decreased
2016‐07‐21 Modest Vaisala y-o-y project deliveries 110 EUR million Q2/2016 Q2/2015 Change % 100 Net sales 75.6 77.0 -2 90 14.5 At comparable 80 76.8 77.0 0 10.8 23.1 exchange rates 70 11.6 11.3 60 18.6 11.7 10.9 19.7 17.0 % of net sales in Q2/2016 50 9.9 40 9.5 30 63.6 52.3 47.1 47.3 15% 20 38.2 45.
Slide 4: Controlled Environment net sales growth from APAC; Vaisala net sales by region
2016‐07‐21 Controlled Environment net sales growth came mainly from APAC 25 EUR million Q2/2016 Q2/2015 Change % 2.3 2.7 2.6 2.4 2.7 Net sales 25.0 23.7 6 20 2.2 At comparable 25.4 23.7 7 exchange rates 15 % of net sales in Q2/2016 21.0 20.9 22.2 21.3 22.3 10 19.3 11% 5 Products Services 0 89% Q1/15
Slide 5: Vaisala operating result decreased; Weather operating result followed net sales
2016‐07‐21 Vaisala operating result decreased Q2/ Q2/ Change Net sales and operating result 2016 2015 % 110 Net sales, EUR million 75.6 77.0 -2 101.1 90 Gross margin, % 49.2 49.8 81.7 70 77.0 75.6 Operating expenses, EUR million 34.1 34.5 -1 68.7 50 58.7 Operating result, EUR million 3.4 4.1 Operati
Slide 6: Controlled Environment operating result increase; Overview of H1/2016
2016‐07‐21 Controlled Environment operating result increase followed net sales increase Q2/ Q2/ Change Net sales and operating result 2016 2015 % 25 24.5 25.0 Net sales, EUR million 25.0 23.7 6 23.7 23.4 24.0 20 21.5 Gross margin, % 60.0 59.4 Operating expenses, EUR million 10.7 10.0 7 15 Operating
Slide 7: H1/16 operating result profitable and increased by 6 MEUR
2016‐07‐21 Vaisala H1/16 operating result profitable and increased by 6 MEUR H1/2016 H1/2015 Change % Orders received, EUR million 141.7 147.4 -4 Order book, EUR million 123.5 140.4 -12 Net sales, EUR million 144.3 135.6 6 Gross margin, % 50.1 47.6 Operating result, EUR million 2.4 -3.6 Operating re
Slide 8: H1 net sales increase followed product business growth
2016‐07‐21 Vaisala net sales increase followed growth in product business EUR million H1/2016 H1/2015 Change % % of net sales in H1/2016 Products 94.4 83.9 13 Projects 26.9 29.3 -8 16% Services 22.9 22.5 2 Products Net sales, total 144.3 135.6 6 19% Projects At comparable 65% Services 144.0 135.6 6
Slide 9: Controlled Environment net sales increased in all regions
2016‐07‐21 Controlled Environment net sales increased in all regions EUR million H1/2016 H1/2015 Change % % of net sales in H1/2016 Products 43.6 40.3 8 11% Services 5.4 4.8 12 Net sales, total 49.0 45.1 9 Products At comparable Services 48.7 45.1 8 exchange rates 89% Page 17 © Vaisala 2016-07-21 Ha
Slide 10: H1 operating result increased; Weather operating result improved
2016‐07‐21 Vaisala operating result profitable and increased by 6 MEUR H1/2016 H1/2015 Change % Net sales, EUR million 144.3 135.6 6 Gross margin, % 50.1 47.6 Operating expenses, EUR million 67.1 66.7 1 Operating result, EUR million 2.4 -3.6 Operating result, % 1.6 -2.7 Operating result increased
Slide 11: Controlled Environment operating result 18.9%; consistent R&D investment
2016‐07‐21 Controlled Environment operating result 18.9% of net sales H1/2016 H1/2015 Change % Net sales, EUR million 49.0 45.1 9 Gross margin, % 60.4 58.7 Operating expenses, EUR million 20.3 19.1 6 Operating result, EUR million 9.3 7.4 Operating result, % 18.9 16.3 Operating result increased due
Slide 12: Cash increased y-o-y; Earnings per share improved
2016‐07‐21 Vaisala’s cash increased y-o-y EUR million H1/2016 H1/2015 2015 Cash flow from operating activities 7.2 5.3 38.8 Cash flow from investing activities -3.9 -3.3 -8.1 Cash flow from financing activities -19.1 -17.3 -20.2 Cash and cash equivalents at the end of period 43.2 33.7 59.2 Cash fl
Slide 13: Weather reshapes Transportation
2016‐07‐21 Weather reshapes Transportation Transportation business unit will focus on product leadership, delivery capability and expansion of information services in order to drive growth, profitability and customer focus. Transportation business unit will exit the field service business, in al
Slide 14: Market Outlook 2016 and Business Outlook 2016
2016‐07‐21 Market Outlook 2016 Even though global economic outlook has recently slightly weakened, market outlook for Vaisala is generally stable. However, the result of United Kingdom European Union membership referendum and related financial market volatility have increased economic uncertaint
Slide 15: Questions Welcome! Appendixes
2016‐07‐21 Questions Welcome! Appendixes 2016-07-21 30 Half Year Financial Report 2016 15
Slide 16: Comparative orders received figures for 2015
2016‐07‐21 Comparative orders received figures for 2015 Vaisala’s ERP version change which was taken into use in the beginning of 2015 enhanced orders received reporting. These enhanced orders received figures are not fully comparable with the figures published earlier, mostly due to different tra