Slide 1: Strong profitability continued, third quarter orders received decreased
Strong profitability continued, third quarter orders received decreased Interim Report January–September 2020 President and CEO Kai Öistämö
Slide 2: Third quarter 2020 highlights
Third quarter 2020 highlights ▪ Orders received EUR 85.3 (105.1) million, -19% ▪ Order book EUR 134.6 (154.4) million, -13% ▪ Net sales EUR 94.0 (105.2) million, -11% ▪ Gross margin 57.7 (55.3) % ▪ Operating result EUR 19.5 (16.3) million, 20.7 (15.5) % of net sales ▪ Earnings per share EUR 0.40 (0.
Slide 3: Vaisala Q3 orders received decreased by 19%
Vaisala Q3 orders received decreased by 19% MEUR 120 113.0 105.1 103.3 98.0 95.9 -16% 100 with comparable 36.8 89.7 34.5 85.3 rates 37.1 80 34.8 32.1 37.5 35.3 60 40 76.2 70.7 66.2 Orders received 63.2 63.8 52.2 50.0 increased in 20 APAC 0 Q1/19 Q2/19 Q3/19 Q4/19 Q1/20 Q2/20 Q3/20 Weather and Enviro
Slide 4: Vaisala Q3 order book decreased by 13% Y/Y
Vaisala Q3 order book decreased by 13% Y/Y MEUR 160 150.9 151.7 154.4 145.3 16.2 139.0 141.6 18.2 17.4 134.6 17.2 -7% Q/Q 16.8 19.1 17.4 Book-to-bill 0.9 120 80 132.8 134.3 138.3 122.3 122.5 128.1 117.2 40 0 Q1/19 Q2/19 Q3/19 Q4/19 Q1/20 Q2/20 Q3/20 Weather and Environment Industrial Measurements 4
Slide 5: Vaisala Q3 net sales decreased by 11%
Vaisala Q3 net sales decreased by 11% MEUR 118.1 Net sales by region 120 105.2 14.9 96.1 -9% 100 12.0 91.4 94.0 87.2 with comparable 84.2 12.0 23.2 12.5 rates 21.7 12.7 80 13.0 13.7 34% 35% 16.9 11.3 17.7 11.5 14.6 (37) 60 (32) Net sales decreased in all 40 80.0 regions 67.3 71.5 70.2 59.7 58.9 61.0
Slide 6: Vaisala Q3 operating result improved
Vaisala Q3 operating result improved MEUR % 60 24 1.9 MEUR 48.9 amortization 50 20.7% 20 of intangible 44.7 44.0 43.0 assets 40.7 40.6 40 36.7 16 15.0% 15.5% 30 12 Gross margin 57.7% 19.5 20 17.7 8.7% 8 7.5% 16.3 6.0% 10 7.2 7.9 4 OPEX decreased due 5.2 to restrictions caused -0.0 -0.0% by COVID-19
Slide 7: Q1–Q3 cash flow: CAPEX and dividend payment offset increase in result for the period
Q1–Q3 cash flow: CAPEX and dividend payment offset increase in result for the period MEUR 30.0 24.3 23.3 Cash and cash equivalents 21.0 End Q3/2020: 39.1 MEUR 20.0 18.6 End Q4/2019: 56.4 MEUR End Q3/2019: 52.6 MEUR 10.0 0.0 -2.4 -1.2 -10.0 -6.9 -7.9 -9.3 -15.0 -15.9 -20.0 -16.5 -19.3 -22.2 -23.9 -24
Slide 8: Strong financial position
Strong financial position MEUR 1-9/20 1-9/19 2019 Equity per share 5.47 5.10 5.52 Return on equity % 16.4 13.6 17.7 Solvency ratio % 56.3 54.8 55.7 Capital expenditure 24.0 16.3 26.8 Cash and cash equivalents 39.1 52.6 56.4 Interest-bearing liabilities 67.7 50.4 51.5 Gearing % 14.5 -1.2 -2.4 8 27-Oc
Slide 9: Business areas
Business areas Business areas
Slide 10: Weather and Environment Q3 – weak orders received in large projects resulted in declining net sales
Weather and Environment Q3 – weak orders received in large projects resulted in declining net sales ▪ Orders received decreased by 29% Order book -8% MEUR Q3/20 Q3/19 Change - Decrease with comparable FX rates 27% Q/Q Book-to-bill 0.8 Orders received 50.0 70.7 -29% - Orders received weak in MEA and
Slide 11: Industrial Measurements Q3 – operating result excellent despite decrease in net sales
Industrial Measurements Q3 – operating result excellent 25% despite decrease in net sales Order book ▪ Orders received increased by 2% increased MEUR Q3/20 Q3/19 Change - Increase with comparable FX rates 6% following strong APAC Orders received 35.3 34.5 2% - Orders received strong in APAC, +19% ▪
Slide 12: January–September 2020
January– September 2020
Slide 13: Key figures
Key figures Vaisala Weather and Environment Industrial Measurements MEUR 1-9/20 1-9/19 Change 1-9/20 1-9/19 Change 1-9/20 1-9/19 Change Orders received 270.9 316.1 -14% 166.1 210.0 -21% 104.9 106.1 -1% Order book 134.6 154.4 -13% 117.2 138.3 -15% 17.4 16.2 7% Net sales 272.6 285.5 -4% 168.5 179.4 -6
Slide 14: Market outlook and business outlook
Market outlook and business outlook
Slide 15: Market outlook 2020
Market outlook 2020 Market outlook is affected by the COVID-19 pandemic and related economic downturn. For weather observation solutions, market in developed countries is expected to remain relatively stable while in developing countries the negative impact of the COVID-19 pandemic will be more sign
Slide 16: Business outlook 2020
Business outlook 2020 ▪ Vaisala estimates that its full-year 2020 net sales will be in the range of EUR 370–390 million and its operating result (EBIT) will be in the range of EUR 40–48 million. MEUR Net sales MEUR Operating result 450 50 40 400 403.6 40.9 38.9 41.1 32.8* 30 29.6 350 348.8 332.6 20
Slide 17: Questions welcome!
Questions welcome!
Slide 18: VAISALA
VAISALA