Vaisala Oyj Class A · OMXHEX:VAIAS
Vaisala Oyj Class A — Q2 2020 Earnings Presentation
18 slides from Vaisala Oyj Class A's earnings presentation, Jul 21, 2020
Slide 1: Operating result improved despite decrease in net sales and orders received
Operating result improved despite decrease in net sales and orders received Half Year Financial Report January–June 2020 President and CEO Kjell Forsén
Slide 2: Second quarter 2020 highlights
Second quarter 2020 highlights ▪ Orders received EUR 95.9 (98.0) million, -2% ▪ Order book EUR 145.3 (151.7) million, -4% ▪ Net sales EUR 91.4 (96.1) million, -5% ▪ Gross margin 54.5 (54.2) % ▪ Operating result EUR 7.9 (7.2) million, 8.7 (7.5) % of net sales ▪ Earnings per share EUR 0.16 (0.14) ▪ Ca
Slide 3: Vaisala Q2 orders received decreased by 2%
Vaisala Q2 orders received decreased by 2% MEUR 120 113.0 105.1 103.3 98.0 95.9 -3% 100 with comparable 36.8 89.7 34.5 rates 37.1 80 34.8 32.1 37.5 60 40 76.2 70.7 66.2 APAC region 63.2 63.8 52.2 weak 20 0 Q1/19 Q2/19 Q3/19 Q4/19 Q1/20 Q2/20 Weather and Environment Industrial Measurements 3 21-Jul-2
Slide 4: Vaisala Q2 order book decreased by 4% Y/Y
Vaisala Q2 order book decreased by 4% Y/Y MEUR 160 150.9 151.7 154.4 145.3 16.2 139.0 141.6 18.2 17.4 17.2 +3% Q/Q 16.8 19.1 Book-to-bill 1.0 120 80 132.8 134.3 138.3 122.3 122.5 128.1 40 0 Q1/19 Q2/19 Q3/19 Q4/19 Q1/20 Q2/20 Weather and Environment Industrial Measurements 4 21-Jul-20 Half Year Fina
Slide 5: Vaisala Q2 net sales decreased by 5%
Vaisala Q2 net sales decreased by 5% MEUR 118.1 Net sales by region 120 105.2 14.9 96.1 -5% 100 12.0 91.4 87.2 with comparable 84.2 12.0 23.2 rates 21.7 12.7 80 13.0 13.7 35% 35% 16.9 17.7 11.5 14.6 (36) 60 (35) Net sales decreased in 40 80.0 both business 67.3 71.5 areas 59.7 58.9 61.0 30% 20 (30)
Slide 6: Vaisala Q2 operating result improved
Vaisala Q2 operating result improved MEUR % 60 20 1.9 MEUR 48.9 amortization 50 15.5% of intangible 44.7 44.0 16 43.0 15.0% assets 40.7 40.6 40 12 30 Gross margin 7.5% 8.7% 54.5% 8 20 16.3 17.7 6.0% 7.9 4 OPEX decreased 10 7.2 even incl. 5.2 discontinuation of a -0.0 -0.0% consulting business 0 0 Q1
Slide 7: Increase in capital expenditure, dividend and new term loan impacted H1 cash flow
Increase in capital expenditure, dividend and new term loan impacted H1 cash flow MEUR 30.0 Cash and cash equivalents 19.2 End Q2/2020: 62.2 MEUR 20.0 End Q4/2019: 56.4 MEUR 11.612.5 End Q2/2019: 42.2 MEUR 9.8 10.0 6.2 5.3 0.0 -1.4 -1.5 -4.9 -6.2 -10.0 -8.7 -9.8 -10.8 -20.0 -17.2 -23.0 -30.0 -31.1 -
Slide 8: Strong financial position
Strong financial position MEUR 1-6/20 1-6/19 2019 Equity per share 5.10 4.67 5.52 Return on equity % 10.2 6.0 17.7 Solvency ratio % 49.5 53.2 55.7 Capital expenditure 17.3 10.1 26.8 Cash and cash equivalents 62.2 42.2 56.4 Interest-bearing liabilities 91.1 50.7 51.5 Gearing % 15.7 5.1 -2.4 8 21-Jul-
Slide 9: Business areas
Business areas
Slide 10: Weather and Environment Q2 – strong orders received in EMEA region
Weather and Environment Q2 – strong orders received in EMEA region ▪ Orders received increased by 1% Order book +5% MEUR Q2/20 Q2/19 Change - Increase with comparable FX rates 1% Q/Q Book-to-bill 1.1 Orders received 63.8 63.2 1% - Orders received very strong in EMEA region Order book 128.1 134.3 -5%
Slide 11: Industrial Measurements Q2 – operating result margin 20.9% despite decrease in net sales
Industrial Measurements Q2 – operating result margin 20.9% despite decrease in net sales Decrease in ▪ Orders received decreased by 8% MEUR Q2/20 Q2/19 Change orders received - Decrease with comparable FX rates 9% biggest in APAC Orders received 32.1 34.8 -8% - Orders received decreased in all regio
Slide 12: January–June
January–June 2020
Slide 13: Key figures
Key figures Vaisala Weather and Environment Industrial Measurements MEUR H1/20 H1/19 Change H1/20 H1/19 Change H1/20 H1/19 Change Orders received 185.6 211.0 -12% 116.0 139.4 -17% 69.6 71.6 -3% Order book 145.3 151.7 -4% 128.1 134.3 -5% 17.2 17.4 -1% Net sales 178.6 180.3 -1% 109.3 110.3 -1% 69.2 70
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 slow-down. For weather observation solutions, market in developed countries is expected to remain more stable while in developing countries the negative impact of the COVID-19 pandemic will be more significa
Slide 16: Business outlook 2020
Business outlook 2020 ▪ Vaisala estimates that its full-year 2020 net sales will be in the range of EUR 370–405 million and its operating result (EBIT) will be in the range of EUR 34–46 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