Vaisala Corporation Financial Report for January to December 2024

By
Joe Killer
-
Vaisala Group

Vaisala Group

Vaisala Corporation Financial Statement Release February 18, 2025, at 9:00 a.m. (EET)

Vaisala Corporation Financial Statement Release January–December 2024

Strong fourth quarter as market conditions gradually improved

This document summarizes Vaisala’s Financial Statement Release for January–December 2024. The full report is included as a PDF file with this release and is accessible on the company’s website at www.vaisala.com/investors.

Fourth Quarter 2024 Highlights

  • Orders received were EUR 144.5 (147.1) million, down 2%

  • Order backlog at the end of the period stood at EUR 215.0 (172.5) million, an increase of 25%

  • Net sales amounted to EUR 167.5 (147.4) million, rising by 14%

  • EBITDA reached EUR 30.3 (18.2) million, representing 18.1 (12.3) % of net sales

  • Operating income (EBIT) was EUR 28.0 (16.3) million, or 16.7 (11.0) % of net sales

  • Earnings per share were EUR 0.59 (0.36)

  • Cash flow from operating activities totaled EUR 28.9 (29.5) million

  • Vaisala acquired the assets of the US-based Maxar Intelligence’s WeatherDesk business for a total consideration of USD 70 million

January–December 2024 Highlights

  • Total orders received were EUR 565.6 (528.1) million, reflecting a 7% increase

  • Net sales for the year reached EUR 564.6 (540.4) million, an increase of 4%

  • EBITDA was EUR 90.3 (74.7) million, representing 16.0 (13.8) % of net sales

  • EBIT was EUR 82.9 (66.6) million, making up 14.7 (12.3) % of net sales

  • Earnings per share stood at EUR 1.76 (1.35)

  • Cash flow from operating operations amounted to EUR 78.9 (83.8) million

  • The Board has proposed a dividend of EUR 0.85 (0.75) per share

Business Outlook for 2025

Vaisala anticipates that, barring significant changes in market conditions, its net sales for the full year 2025 will fall within the EUR 590–620 (2024: 565) million range, with EBITA projected to range between EUR 90–105 (2024: 90) million.

As of 2025, Vaisala has shifted its focus in forecasts from EBIT to EBITA to align with long-term financial objectives.

Market Outlook for 2025

The industrial and life sciences market segments began to gradually recover in the second half of 2024, and similar trends are expected into 2025. The power market segment is anticipated to expand.

Conversely, more mature markets such as meteorology, aviation, and road sectors are expected to remain stable, while the renewable energy sector is likewise predicted to maintain stability.

Key Figures

MEUR

10-12/2024

10-12/2023

Change

1-12/2024

1-12/2023

Change

Orders received

144.5

147.1

-2%

565.6

528.1

7%

Order book

215.0

172.5

25%

215.0

172.5

25%

Net sales

167.5

147.4

14%

564.6

540.4

4%

Gross profit

94.5

80.1

18%

318.1

301.7

5%

Gross margin, %

56.4

54.3

56.3

55.8

Operating expenses

66.6

64.4

3%

235.8

235.9

0%

EBITDA

30.3

18.2

90.3

74.7

% of net sales

18.1

12.3

16.0

13.8

Operating result (EBIT)

28.0

16.3

82.9

66.6

% of net sales

16.7

11.0

14.7

12.3

Result Before Tax

26.4

16.1

80.8

63.1

Result for the Period

21.4

12.9

63.7

48.9

Earnings per Share

0.59

0.36

66%

1.76

1.35

30%

Return on Equity, %

22.1

18.9

Research and Development Costs

19.2

18.1

6%

68.6

67.7

1%

Capital Expenditure*

9.4

3.1

206%

19.1

13.9

37%

Depreciation, Amortization and Impairment

6.9

6.1

14%

24.3

24.3

0%

Cash Flow from Operating Activities

28.9

29.5

-2%

78.9

83.8

-6%

Cash Conversion

1.0

1.8

1.0

1.3

Cash and Cash Equivalents

88.8

90.3

-2%

Interest-bearing Liabilities

129.5

62.1

108%

Gearing, %

13.2

-10.5

* Excluding impact of acquired businesses

President and CEO Kai Öistämö

“We closed the year 2024 on a positive note. In spite of global challenges characterized by rising geopolitical tensions and uncertainties in business, both of our business segments demonstrated solid growth and profitability. We began 2025 with a robust EUR 215 million order backlog.