Vaisala Oyj (0GEG) Q1 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Hello and welcome to Vaisala's first quarter 2025 results call. I'm Niina Alaluopa from Vaisala's Investor Relations and today with me in this call are President and CEO Kai Östömö and CFO Heli Lindfors. So Kai Östömö will now present the first quarter results and after the presentation we have time for questions. So hello everybody and thanks for joining. As the headline says, We had a strong start of the year. And at the same time, obviously, when we kind of living through the first quarter, it was an increasing market uncertainty. There was almost like a no day without either a rumor or a change or a tweet in terms of what would be the anticipated import duties and so on, which then in the end were not implemented between our relevant geographies during the first quarter. Actually, the actual implementation dates only happened in April. So despite all the uncertainty and everything else, direct impact from tariffs were not visible during the first quarter. Obviously then the uncertainty, I'm sure, impacted our customers and investment decisions somewhat. Despite all that, we had, like I said, on all accounts, a strong start of the year. Net sales-wise and profitability-wise, clear improvement. Year-on-year-wise, net sales growth 21 percent year-on-year. EBITDA almost doubled year-on-year. EBITDA percentage almost doubled year-on-year. Kind of great improvements, obviously, both. Industrial measurements, excellent performance. I'll go into more details into the business areas in a short while. And on weather environment, a strong order book that we had opening order book obviously gave us a good understanding start and we continue to deliver against that strong order book. And then on subscription sales, kind of an extraordinary growth on a back of both. Good organ...