Vaisala Oyj Class A · OMXHEX:VAIAS

Vaisala Oyj Class A — Q1 2018 Earnings Presentation

22 slides from Vaisala Oyj Class A's earnings presentation, Apr 25, 2018

  1. Slide 1: Interim Report January–March 2018

    Interim Report January–March 2018 President and CEO Kjell Forsén April 25, 2018 © Vaisala

  2. Slide 2: First quarter 2018 highlights

    First quarter 2018 highlights  Orders received EUR 87.1 (81.5) million, +7%  With comparable rates +13%  Order book EUR 133.4 (130.3) million, +2%  Net sales EUR 76.4 (68.4) million, +12%  With comparable rates +19%  Gross margin 51.3% (51.4%)  Operating result EUR 5.7 (2.6) million, 7.5% (3.

  3. Slide 3: Exchange rate impact on net sales growth

    Exchange rate impact on net sales growth % Weather and Environment % Industrial Measurements % Vaisala 30 18 17 25 26 16 25 16 20 20 19 20 14 15 12 15 12 15 14 11 12 12 10 9 10 9 9 10 10 9 5 3 4 8 6 6 6 6 6 0 6 5 4 -5 -2 -3 4 0 2 2 0 -10 2 1 -10-11 -1 -1 0 -2 -15 0 -5 Q1/17 Q2/17 Q3/17 Q4/17 FY17 Q1

  4. Slide 4: Vaisala Q1 orders received increased 7%

    Vaisala Q1 orders received increased 7%  Orders received EUR 87.1 (81.5) million, MEUR +7% 120  With comparable rates +13% 100  Weather and Environment Business Area 81.5 87.1 27.6  EUR 56.2 (52.0) million, +8% 80 30.9 29.5 28.2 28.1 – With comparable rates +12% 60  Includes EUR 9.3 million of

  5. Slide 5: Vaisala order book increased 2%

    Vaisala order book increased 2%  Order book EUR 133.4 (130.3) million, MEUR +2% 160  The order book increased in APAC 133.4 130.3 10.7  EUR 97.1 (89.3) million of the order book 120 10.0 12.2 10.7 13.4 is scheduled to be delivered in 2018  Weather and Environment Business Area 80 134.3  EUR 120

  6. Slide 6: Vaisala Q1 project business net sales increased partly due to change in revenue recognition

    Vaisala Q1 project business net sales increased partly due to change in revenue recognition % of net sales Q1/2018 MEUR 120 15% (17%) 12.8 80 9.8 76.4 68.4 32.7 11.3 11.2 11.6 21.7 23% 13.5 17.2 8.5 (12%) 63% 40 (71%) 50.1 55.6 56.8 48.2 48.0 0 Q1/17 Q2/17 Q3/17 Q4/17 Q1/18 Products Projects Service

  7. Slide 7: EMEA and APAC net sales increased due to strong project business and industrial instrument deliveries

    EMEA and APAC net sales increased due to strong project business and industrial instrument deliveries % of net sales Q1/2018 EUR million Q1/2018 Q1/2017 Change % 32% 29% EMEA 22.3 18.1 23 (32%) (26%) Americas 29.5 28.7 3 APAC 24.6 21.6 14 (42%) 39% Total 76.4 68.4 12 EMEA Americas APAC Interim Repor

  8. Slide 8: Vaisala Q1 operating result 7.5% of net sales

    Vaisala Q1 operating result 7.5% of net sales MEUR 120 Q1/2018 Q1/2017 102.3 Orders received, EUR million 87.1 81.5 100 87.1 80 74.8 76.4 Net sales, EUR million 76.4 68.4 68.4 60 Gross margin, % 51.3 51.4 40 Operating expenses, EUR million 33.5 32.8 18.5 20 14.7 Operating result, EUR million 5.7 2.6

  9. Slide 9: Weather and Environment Q1

    Weather and Environment Q1 © Vaisala

  10. Slide 10: Weather and Environment Q1 net sales increased by 20%

    Weather and Environment Q1 net sales increased by 20% partly due to change in revenue recognition % of net sales Q1/2018 MEUR 80 17% 9.8 (22%) 60 6.9 48.1 47% 40.3 32.7 8.4 8.3 (57%) 40 21.7 8.7 13.5 17.2 8.5 36% 20 27.4 29.7 31.9 (21%) 23.0 22.7 0 Q1/17 Q2/17 Q3/17 Q4/17 Q1/18 Products Projects Ser

  11. Slide 11: Weather and Environment gross margin improved in project business

    Weather and Environment gross margin improved in project business MEUR 80 74.4 Q1/2018 Q1/2017 Orders received, EUR million 56.2 52.0 58.3 60 49.3 48.1 Net sales, EUR million 48.1 40.3 40.3 40 Gross margin, % 45.3 43.8 20 14.0 Operating expenses, EUR million 21.8 21.7 7.1 -4.0 1.1 0.0 Operating resu

  12. Slide 12: Industrial Measurements Q1

    Industrial Measurements Q1 © Vaisala

  13. Slide 13: Industrial Measurements Q1 net sales flat, growth 9% with comparable rates

    Industrial Measurements Q1 net sales flat, growth 9% with comparable rates % of net sales Q1/2018 MEUR 30 28.1 28.2 10% 2.9 2.9 2.9 2.9 (10%) 25 2.9 20 15 25.2 25.9 25.0 25.3 22.6 10 (90%) 90% 5 0 Q1/17 Q2/17 Q3/17 Q4/17 Q1/18 Products Services Products Services Interim Report January-March 2018 201

  14. Slide 14: Industrial Measurements Q1 operating result strong 21.1% of net sales

    Industrial Measurements Q1 operating result strong 21.1% of net sales MEUR 40 Q1/2018 Q1/2017 Orders received, EUR million 30.9 29.5 30 28.1 28.8 27.9 28.2 25.5 Net sales, EUR million 28.2 28.1 20 Gross margin, % 61.8 62.6 Operating expenses, EUR million 11.5 11.2 10 8.3 6.4 5.9 3.7 4.4 Operating re

  15. Slide 15: R&D expenditure continued to increase

    R&D expenditure continued to increase  R&D expenses EUR 10.6 (10.1) million or MEUR 13.9% (14.7%) of net sales 39.6 40  Weather and Environment 14.5% (17.4%) of net sales 9.4 11.5 12.6 30 8.2  Industrial Measurements 12.9% (10.9%) 6.5 of net sales 20 25.7 26.7 26.5 27.0 10.6 10 22.4 3.6 7.0 0 201

  16. Slide 16: Cash flow from operating activities negative due to working capital development

    Cash flow from operating activities negative due to working capital development  Cash flow from operations decreased to EUR -5.4 (2.9) million due to working capital development MEUR  Cash and cash equivalents EUR 83.5 (72.9) 60 million, +15% 50  Capital expenditure EUR 2.2 (1.8) million 40  Dep

  17. Slide 17: Market and Business Outlook

    Market and Business Outlook © Vaisala

  18. Slide 18: Market Outlook 2018

    Market Outlook 2018 Weather and Environment Industrial Measurements  Market for traditional weather observation  Market for industrial measurement solutions solutions is expected to be flat, growth is is expected to be healthy. expected to originate from digital solutions as  Underlying demand is

  19. Slide 19: Business Outlook 2018

    Business Outlook 2018  Vaisala continues to estimate its full year 2018 net sales to be in the range of EUR 330–350 million and its operating result (EBIT) to be in the range of EUR 35–45 million. MEUR Net sales MEUR Operating result 340 50 332.6 320 40 318.5 319.1 32.8* 40.9 300 30 299.7 30.2 29.6

  20. Slide 20: Annual General Meeting decisions

    Annual General Meeting decisions  Dividend of EUR 1.10 per share and additional dividend of EUR 1.00 per share  Payment date April 19  Total EUR 37.6 million  Share issue without payment (split)  One new share was issued for each share  New shares did not entitle their holders to dividend paym

  21. Slide 21: Questions Welcome!

    Questions Welcome! © Vaisala

  22. Slide 22: Observations for a Better World

    Observations for a Better World © Vaisala

Vaisala — Q1 2018 Earnings Presentation on 6ix