Vaisala Corporation Half Year Financial Report January–June 2025: Mixed second quarter – growth in Industrial Measurements and decline in renewable energy business
Vaisala Corporation Half Year Financial Report July 25, 2025, at 9:00 a.m. (EEST)
Vaisala Corporation Half Year Financial Report January–June 2025: Mixed second quarter – growth in Industrial Measurements and decline in renewable energy business
This release is a summary of Vaisala’s Half Year Financial Report January–June 2025. The complete report is attached to this release as a pdf file. It is also available on the company website at .
Second quarter 2025:
- Orders received EUR 124.1 (147.2) million, decrease 16%
- Order book at the end of the period EUR 200.9 (196.9) million, increase 2%
- Net sales EUR 145.0 (148.4) million, decrease 2%
- EBITA EUR 19.6 (25.4) million, 13.5 (17.1) % of net sales
- Operating result (EBIT) EUR 16.9 (23.7) million, 11.7 (15.9) % of net sales
- Earnings per share EUR 0.30 (0.49)
- Cash flow from operating activities EUR 14.4 (7.7) million
January–June 2025:
- Orders received EUR 245.6 (270.5) million, decrease 9%
- Net sales EUR 280.6 (260.5) million, increase 8%
- EBITA EUR 40.0 (34.2) million, 14.3 (13.1) % of net sales
- Operating result (EBIT) EUR 34.8 (30.8) million, 12.4 (11.8) % of net sales
- Earnings per share EUR 0.63 (0.64)
- Cash flow from operating activities EUR 33.1 (24.8) million
Business outlook for 2025 – estimate ranges specified
Vaisala estimates, excluding potential significant changes in market conditions, that its full-year 2025 net sales will be in the range of EUR 590–605 million and its EBITA will be in the range of EUR 90–100 million.
Earlier, Vaisala estimated, excluding potential significant changes in market conditions, that its full-year 2025 net sales would be in the range of EUR 590–620 million and its EBITA would be in the range of EUR 90–105 million.
As of 2025, in its outlook, Vaisala has changed EBIT to EBITA to align with its long-term financial targets.
Market outlook for 2025
Markets for industrial, life science, and power grew during the first half of the year. Similar development is expected during the rest of the year. However, the market environment remains uncertain, affecting the predictability of these market segments' development.
More mature market segments, meteorology, and aviation, are expected to decline compared to exceptionally high levels in the previous two years. The market for renewable energy is expected to decline during this year due to a slow-down in new wind energy projects. The roads market segment is expected to be stable.
Key figures
| MEUR | 4-6/2025 | 4-6/2024 | Change | 1-6/2025 | 1-6/2024 | Change | 1-12/2024 |
| Orders received | 124.1 | 147.2 | -16% | 245.6 | 270.5 | -9% | 565.6 |
| Order book | 200.9 | 196.9 | 2% | 200.9 | 196.9 | 2% | 215.0 |
| Net sales | 145.0 | 148.4 | -2% | 280.6 | 260.5 | 8% | 564.6 |
| Gross profit | 79.0 | 84.6 | -7% | 156.8 | 145.3 | 8% | 318.1 |
| Gross margin, % | 54.5 | 57.0 | 55.9 | 55.8 | 56.3 | ||
| Operating expenses | 62.1 | 61.2 | 2% | 122.0 | 114.8 | 6% | 235.8 |
| EBITA | 19.6 | 25.4 | 40.0 | 34.2 | 90.3 | ||
| % of net sales | 13.5 | 17.1 | 14.3 | 13.1 | 16.0 | ||
| Operating result (EBIT) | 16.9 | 23.7 | 34.8 | 30.8 | 82.9 | ||
| % of net sales | 11.7 | 15.9 | 12.4 | 11.8 | 14.7 | ||
| Result before taxes | 14.6 | 23.2 | 29.7 | 29.8 | 80.8 | ||
| Result for the period | 11.0 | 17.9 | 22.9 | 23.1 | 63.7 | ||
| Earnings per share | 0.30 | 0.49 | -39% | 0.63 | 0.64 | -1% | 1.76 |
| Return on equity, % | 15.3 | 17.4 | 22.1 | ||||
| Research and development costs | 18.0 | 17.9 | 1% | 34.9 | 34.3 | 2% | 68.6 |
| Capital expenditure* | 6.1 | 4.9 | 25% | 11.0 | 6.9 | 61% | 19.1 |
| Depreciation, amortization and impairment | 7.0 | 5.8 | 19% | 13.9 | 11.5 | 21% | 24.3 |
| Cash flow from operating activities | 14.4 | 7.7 | 88% | 33.1 | 24.8 | 33% | 78.9 |
| Cash conversion | 0.9 | 0.3 | 1.0 | 0.8 | 1.0 | ||
| Cash and cash equivalents | 74.9 | 65.2 | 15% | 88.8 | |||
| Interest-bearing liabilities | 126.8 | 45.9 | 176% | 129.5 | |||
| Gearing, % | 17.9 | -7.3 | 13.2 |
*Excluding impact of acquired businesses
President and CEO Kai Öistämö
“Vaisala’s second quarter was marked by mixed results after the strong start of the year. The Industrial Measurements business area continued its excellent performance. The Weather and Environment business area suffered from a slowdown in the renewable energy market. Subscription sales continued the double-digit organic growth, being the highlight of the quarter in the Weather and Environment business area.
Despite strong demand in the Industrial Measurements business area, weak demand in the Weather and Environment business area led to a decrease in Vaisala’s order intake. The challenging situation in the renewable energy market and seasonality in project deliveries negatively impacted our second quarter net sales, which decreased by 2% compared to the previous year. We were able to largely offset the impact of the US tariffs through price increases and expedited shipments. Followed by the decreased net sales, our EBITA margin decreased to 13.5%.
The Industrial Measurements business area had a very strong second quarter. Order intake developed positively in all geographical areas and market segments. Industrial Measurements’ net sales increased strongly by 10% compared to the previous year. This growth was driven by the Americas region where we continued to drive growth in the life science market as well as in the industrial market.
In the Weather and Environment business area, the weak demand in the renewable energy market continued to negatively impact order intake and net sales for the entire business area. The slowdown in new wind energy investments since the beginning of the year has adversely affected our renewable energy business. Order intake decreased also in the meteorology and aviation markets. This was mainly due to industrial cyclicality as well as reductions in public sector spending in the US and China.
Subscription sales in our Xweather business increased by 53% in the second quarter, driven by the acquisitions of WeatherDesk and Speedwell Climate, as well as underlying organic growth. We continue to strengthen our leadership in AI-driven weather forecasting and enhance our offerings in the insurance, finance, and energy sectors.
Looking ahead to the rest of the year, we expect the global market uncertainty to persist, weakening the visibility to market development. In addition, further potential trade policy measures and depreciation of the US dollar, Chinese yuan, and other currencies can have a material negative impact on our performance. Nevertheless, excluding the potential realization of these risks, we still anticipate positive development in the Industrial Measurements business area and Xweather subscription business. At the same time, due to the slowness in the renewable energy market, we expect the full year net sales for our renewable energy business to be about EUR 15 million below last year’s level. To counteract this negative sales impact on our profitability, we will continue to implement necessary cost control measures for the renewable energy business. In the long term, we anticipate the renewable energy market and business to develop positively. In the traditional Weather and Environment business, we will continue to deliver on our solid order book in the meteorology and aviation markets, driving profitability as a global leader in weather systems.
We monitor the overall global market situation and are prepared for different scenarios to mitigate the possible impacts on our business. Based on the market outlook and expected business performance, we have specified our estimate ranges for the full-year net sales and EBITA. We now estimate, excluding potential significant changes in market conditions, that our full-year 2025 net sales will be in the range of EUR 590–605 million and our EBITA will be in the range of EUR 90–100 million.”
Audiocast and teleconference
An audiocast and a conference call for analysts, investors, and media will be held in English on Friday, July 25, 2025, starting at 1:00 p.m. (Finnish time).
You can participate in the live audiocast via the following link:
Questions may be presented by participating in the teleconference. You can access the teleconference by registering at the link below. After registration, you will receive an email with the dial-in numbers and a conference ID.
A recording will be available at vaisala.com/investors later the same day.
Further information
Niina Ala-Luopa
7,
Vaisala Corporation
Distribution
Nasdaq Helsinki
Key media
Vaisala is a global leader in measurement instruments and intelligence for climate action. We equip our customers with devices and data to improve resource efficiency, drive energy transition, and care for the safety and well-being of people and societies worldwide. With almost 90 years of innovation and expertise, we employ a team of close to 2,500 experts committed to taking every measure for the planet. Vaisala series A shares are listed on the Nasdaq Helsinki stock exchange.
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