Slide 1: Uncertain market environment affected growth of orders received in Q2
Uncertain market environment affected growth of orders received in Q2 Half Year Financial Report January–June 2023 Kai Öistämö, President and CEO
Slide 2: Uncertain market environment affected growth of orders received in Q2
Uncertain market environment affected growth of orders received in Q2 ▪ Growth in orders received and net sales driven by Weather and Environment business area ▪ Order book EUR 167 million ▪ Operating result increased Y/Y ▪ Outlook revised July 17 Net sales EBIT 130.8 (120.5) MEUR 11.9 (10.3) MEUR +
Slide 3: Q2/2023 orders received grew by 5%
Q2/2023 orders received grew by 5% MEUR Orders received 600 ▪ Orders received grew in Weather and Environment business area but 500 decreased in Industrial Measurements business area 400 ▪ Orders increased very strongly in roads 300 +5% and automotive, renewable energy as well as in power and energy
Slide 4: Q2/2023 order book EUR 167 million
Q2/2023 order book EUR 167 million MEUR Order book MEUR Order book delivery schedule 180 140 +6% ▪ Order book flat Y/Y in Industrial 160 +2% 120 115.0 116.7 Measurements business area 140 ▪ Increase in road and 100 automotive, meteorology, and 120 renewable energy market 100 80 segments in Weather a
Slide 5: Q2/2023 net sales grew by 9%
Q2/2023 net sales grew by 9% MEUR Net sales 600 ▪ Net sales grew in Weather and Environment business area but 500 decreased in Industrial Measurements business area 400 ▪ Net sales growth very strong in renewable 300 energy as well as in roads and +9% automotive market segments 200 130.8 120.5 100 0
Slide 6: Q2/2023 operating result increased Y/Y
Q2/2023 operating result increased Y/Y MEUR Operating result 70 ▪ Gross margin was at previous year’s level 60 55.1 (55.3) % ▪ Component spot purchases had a 0.8 50 (2.8) percentage point negative impact 40 ▪ Operating expenses increased ▪ Investments in sales and marketing as 30 8.6% well as in R&D
Slide 7: Q2/23 orders received decrease by 6% Y/Y
INDUSTRIAL MEASUREMENTS Q2/23 orders received decrease by 6% Y/Y ▪ Orders received decreased in industrial instruments and life science market segments ▪ Order book flat EUR 37.2 (37.2) million MEUR Orders received 250 200 150 -6% 100 56.2 52.6 50 0 2019 2020 2021 2022 Q2/23 Decrease 3% in constant
Slide 8: Net sales decreased by 3% Y/Y
INDUSTRIAL MEASUREMENTS Net sales decreased by 3% Y/Y MEUR Net sales ▪ Net sales decreased in life science 250 market segment ▪ Gross margin decreased from previous 200 year and was 59.7 (63.2) % ▪ Additional material costs related to 150 component spot purchases had a 1.2 -3% (2.9) percentage point
Slide 9: Strong growth in orders received continued
WEATHER & ENVIRONMENT Strong growth in orders received continued ▪ Orders received grew very strongly in roads and automotive as well as in renewable energy market segments ▪ Order book EUR 130.2 (120.6) million, +8% MEUR Orders received 300 250 200 +14% 150 100 76.6 67.2 50 0 2019 2020 2021 2022 Q2
Slide 10: Net sales growth very strong 18% Y/Y
WEATHER & ENVIRONMENT Net sales growth very strong 18% Y/Y MEUR Net sales ▪ Net sales grew in renewable energy, 350 roads and automotive as well as in 300 meteorology market segments 250 ▪ Gross margin improved from previous year and was 51.9 (48.8) % 200 ▪ Additional material costs related to +18%
Slide 11: 1-6/2023 financials
VAISALA 1-6/2023 financials
Slide 12: 1-6/2023 cash flow from operating activities increased as a result of decrease in trade receivables
1-6/2023 cash flow from operating activities increased as a result of decrease in trade receivables MEUR 30 20.0 Cash and cash equivalents: 20 17.6 17.616.8 o End Q2/2023: 51.2 MEUR 11.0 o End Q4/2022: 55.5 MEUR 10 o End Q2/2022: 48.4 MEUR 0 o Net working capital decreased -2.5 -1.4 -1.1 -3.2 -10 -5
Slide 13: Strong financial position
Strong financial position MEUR 1-6/2023 1-6/2022 1-12/2022 Equity per share 6.51 6.25 6.91 Return on equity % 14.5 17.5 18.7 Solvency ratio % 57.6 55.2 58.1 Capital expenditure 6.7 6.3 13.7 Cash and cash equivalents 51.2 48.4 55.5 Interest-bearing liabilities 62.9 74.5 63.4 Gearing % 4.9 11.5 3.2 14
Slide 14: Market development and business outlook
VAIHDA KUVA Market development and business outlook
Slide 15: Market development
Market development Growth High-end industrial instruments Life science Power and energy Liquid measurements Renewable energy Roads and automotive Stable Meteorology Aviation 16 28-July-23 Half Year Financial Report January-June 2023
Slide 16: Business outlook for 2023 revised on July 17
Business outlook for 2023 revised on July 17 Net sales Vaisala estimates that its full-year 2023 net sales will be in the range of EUR 530–560 million Operating result (EBIT) Vaisala estimates that its full-year 2023 operating result (EBIT) will be in the range of EUR 65–75 million 17 28-July-23 Hal
Slide 17: Uncertain market environment affected growth of orders received in Q2
Uncertain market environment affected growth of orders received in Q2 ▪ Growth in orders received and net sales driven by Weather and Environment business area ▪ Order book EUR 167 million ▪ Operating result increased Y/Y ▪ Outlook revised July 17 Net sales EBIT 130.8 (120.5) MEUR 11.9 (10.3) MEUR +
Slide 18: Disclaimer
Disclaimer The forward-looking statements in this report are based on the current expectations, known factors, decisions and plans of Vaisala's management. Although the management believes that the expectations reflected in these forward-looking statements are reasonable, there is no assurance that
Slide 19: VAISALA
VAISALA