Vaisala Oyj Class A · OMXHEX:VAIAS
Vaisala Oyj Class A — Q1 2024 Earnings Presentation
15 slides from Vaisala Oyj Class A's earnings presentation, May 3, 2024
Slide 1: Weak net sales in Q1, record-high order book
Weak net sales in Q1, record-high order book Interim Report January–March 2024 Kai Öistämö, President and CEO Q1 2024
Slide 2: Weak net sales in Q1, record-high order book
Weak net sales in Q1, record-high order book Net sales Order book Q1/2024 112.1 190.4 • Slow start of the year, low market activity (131.8) level continued. MEUR -15% (Dec 31, 2023: 172.5) • Industrial actions in Finland and ERP MEUR +10% Q/Q ramp-up affected Q1 net sales. • ERP situation normalizin
Slide 3: Instruments and intelligence for climate action
Instruments and intelligence for climate action MEGATRENDS PURPOSE SUCCESS DRIVERS STRATEGIC PRIORITIES Customer understanding and application know-how Energy transition Grow in industrial Expand in energy & decarbonization measurements transition and Taking with breakthrough build recurring Product
Slide 4: Enabling climate action with our customers
Enabling climate action with our customers Photo: Vesa Kippola, Jarno Artika, Carbonaide Supporting the construction Effectively managing winter Reducing the environmental industry’s decarbonization goals weather conditions impact of shipping Finland-based startup City of Independence in Norsepower
Slide 5: Science Based Targets initiative approves our emission reduction targets
Science Based Targets initiative approves our emission reduction targets Our commitment: Scope 3 emissions make up over • We will more than halve our direct greenhouse gas emissions (scope 1) and purchased-energy emissions (scope 2) from 2021 level by 2030. 99% • We will more than halve our other of
Slide 6: Financials
Financials
Slide 7: Slow start for the year
Slow start for the year • Orders received reflect continued low MEUR Net sales and EBIT% % market activity level 160 25 132.0 • Order book record-high EUR 190.4 million, 140 131.8 up by 10% Q/Q 120 123.3 112.1 20 • Order book for 2024 EUR 141.4 million 100 15 • Net sales decreased by 15% Y/Y 80 10.1
Slide 8: Industrial Measurements: EBIT margin 13.5% despite low net sales
Industrial Measurements: EBIT margin 13.5% despite low net sales MEUR % • Orders received decreased by 14% Y/Y 70 70 63.0 • Order book up by 5% Q/Q 60 59.9 51.7 66 • Net sales decreased by 24% Y/Y 50 48.0 • Slow market, industrial actions in Finland, and 62.6% 62 ramp-up of the new ERP system 40 • S
Slide 9: Weather and Environment: Timing of project deliveries impacted net sales
Weather and Environment: Timing of project deliveries impacted net sales MEUR % • Orders received at previous year’s level 100 60 • Order book up by 12% Q/Q 80 • Net sales decreased by 7% Y/Y 72.1 68.8 71.5 56 64.1 • Growth of subscription sales 15% 60 • Gross margin improved to 51.0 (50.2) % 52 51.
Slide 10: Cash flow continued on good level
Cash flow continued on good level • Cash flow from operating activities Change in cash (MEUR) decreased to EUR 17.1 (26.9) million 1.5 1.9 • Lower result for the period 6.5 0.7 7.0 5.2 105.0 • Decrease in net working capital 90.3 • Increase in trade and other payables drive decrease in net working c
Slide 11: Strong financial position
Strong financial position • Low leverage in the balance sheet MEUR Q1/2024 Q1/2023 2023 • Asset light business model Equity per share 6.76 6.33 7.39 • Dividend liability EUR 27.2 million Return on equity, % 8.0 16.0 18.9 • 2023 dividends (EUR 0.75 per outstanding share) were paid in April Solvency r
Slide 12: Market and business outlook
Market and business outlook VAISALA
Slide 13: Market outlook for 2024
Market outlook for 2024 Power and energy Growth Liquid measurements Renewable energy Industrial instruments Stable Life science Meteorology Aviation Roads Interim Report January–March 2024 May 3, 2024 13
Slide 14: Business outlook for 2024
Business outlook for 2024 Net sales Vaisala estimates that its full-year 2024 net sales will be in the range of EUR 530–570 million. Operating result Vaisala estimates that its full-year 2024 operating result (EBIT) will be in the range of EUR 63–78 million. Interim Report January–March 2024 May 3,
Slide 15: Vaisala
VAISALA