Vaisala Oyj (0GEG) Q1 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Hello, and welcome to Vaisala's First Quarter Audiocast and Conference Call. I'm Nina Alalopa from Vaisala's Investor Relations. And today here with me are President and CEO, Kai Oyjtomer and CFO, Heli Lindfors. First, Kai and Heli will present Vaisala's first quarter key highlights and financials, and then we will continue with Q and A. So let's start. Kai? Thank you, Nina, and welcome, everybody, from my side. This is Kai Oyjstemer. So when we look at the first quarter for Vaisala, I would characterize it this way that it was a very good, strong start of the year, especially driven by Industrial Measurements driving the results. So, if we start from net sales, in constant currency the net sales growth for the company was 7%. In reported currency that compares to 1% and orders received similarly if we take the constant currency first, is 10% growth year on year and in reported currency 5%. When you interpret the results, this time actually the difference, as you can notice, between the reported currency and the constant currency are particularly big remembering that a year ago first quarter, euro and dollar and renminbi, but if I take the dollar as an example, was in parity whereas when we look at today or during the first quarter, euro dollar rate was 1.17, 1.18, so a significant difference between the two. We expect this to obviously start to get smaller now during the second quarter as the big change really happened during the end of first quarter and second quarter last year in the currency exchange rates. Back to the numbers, so as I said, orders received on a very good level and that led in the book ending order book actually being on a higher level at the ending order book that we had at the end of last year, so three months ago. This also converted into a go...