Vaisala Corporation Interim Report May 3, 2024, at
Weak net sales in Q1, record-high order book
First quarter 2024 highlights
- Orders received
EUR 123.3 (132.0) million, decrease 7% - Order book at the end of the period
EUR 190.4 (163.7) million, increase 16% - Net sales
EUR 112.1 (131.8) million, decrease 15% - Operating result (EBIT)
EUR 7.1 (13.3) million, 6.4 (10.1) % of net sales - Earnings per share
EUR 0.14 (0.27) - Cash flow from operating activities
EUR 17.1 (26.9) million
Business outlook for 2024
Market outlook for 2024
Markets for high-end industrial instruments and life science slowed down significantly during Q2/2023 and remained on a lower level for the rest of the year. Markets are expected to remain flat in H1/2024 and start improving during H2/2024. Markets for power and energy, and liquid measurements markets are expected to grow.
Markets for the more mature markets, meteorology, aviation, and roads, are expected to be stable. Market for renewable energy is expected to grow.
Vaisala’s President and CEO Kai Öistämö
“Vaisala had a slow start for the year 2024, with market activity continuing at the same level as in the second half of 2023. Especially in the Industrial Measurements business area, the industrial actions in
Decrease in our first quarter orders received reflects the continued low market activity level as well as the strong comparison period for the Industrial Measurements business area. In addition, as component availability has normalized, there was less incentive for customers to make annual orders compared to the beginning of last year. In the Weather and Environment business area, orders received were at previous year’s level reflecting stability in the market environment. On
In February, we also updated our company purpose, Taking every measure for the planet, and sharpened our strategic priorities. Our renewed purpose reflects how we intend to expand our role as a leader in measurement instruments and intelligence. At the core of our strategy is our ambition to enable global climate action together with our customers, helping them to save resources, drive the energy transition, and care for the safety and well-being of people and societies. To support the recalibrated purpose, we also updated our visual brand identity.
After we closed the quarter, Vaisala’s greenhouse gas emission reduction targets received the approval by the Science Based Targets initiative in early April.
Looking ahead at the rest of 2024, we expect that there will be continued uncertainty in the business environment. We expect the market to improve and continue to anticipate that our performance in the second half of the year will be stronger than the first half. Despite the soft first quarter, we reiterate our full year 2024 business outlook. We estimate that our full-year 2024 net sales will be in the range of EUR 530–570 million and that our operating result (EBIT) will be in the range of EUR 63–78 million.”
Key figures | ||||
MEUR | 1-3/ 2024 | 1-3/ 2023 | Change | 1-12/ 2023 |
Orders received | 123.3 | 132.0 | -7% | 528.1 |
Order book | 190.4 | 163.7 | 16% | 172.5 |
Net sales | 112.1 | 131.8 | -15% | 540.4 |
Gross profit | 60.7 | 73.9 | -18% | 301.7 |
Gross margin, % | 54.2 | 56.1 | 55.8 | |
Operating expenses | 53.7 | 60.7 | -12% | 235.9 |
Operating result | 7.1 | 13.3 | 66.6 | |
Operating result, % | 6.4 | 10.1 | 12.3 | |
Result before taxes | 6.6 | 12.5 | 63.1 | |
Result for the period | 5.2 | 9.6 | 48.9 | |
Earnings per share | 0.14 | 0.27 | -46% | 1.35 |
Return on equity, % | 8.0 | 16.0 | 18.9 | |
Research and development costs | 16.4 | 17.9 | -8% | 67.7 |
Capital expenditure | 2.0 | 3.1 | -36% | 13.9 |
Depreciation, amortization and impairment | 5.7 | 5.9 | -4% | 24.3 |
Cash flow from operating activities | 17.1 | 26.9 | -36% | 83.8 |
Cash and cash equivalents | 105.0 | 75.4 | 39% | 90.3 |
Interest-bearing liabilities | 61.4 | 60.4 | 2% | 62.1 |
Gearing, % | -17.8 | -6.5 | -10.5 |
Financial review Q1/2024
Orders received and order book
MEUR | 1-3/ 2024 | 1-3/ 2023 | Change | FX* | 1-12/ 2023 |
Orders received | 123.3 | 132.0 | -7% | -6% | 528.1 |
Order book, end of period | 190.4 | 163.7 | 16% | 172.5 |
* Change with comparable exchange rates
First quarter 2024 orders received decreased by 7% compared to previous year and totaled
At the end of
Financial performance
MEUR | 1-3/ 2024 | 1-3/ 2023 | Change | FX** | 1-12/ 2023 |
Net sales | 112.1 | 131.8 | -15% | -15% | 540.4 |
Product sales | 79.8 | 99.1 | -19% | 397.7 | |
Project sales | 11.8 | 14.8 | -21% | 69.5 | |
Service sales | 10.9 | 9.3 | 17% | 38.9 | |
Subscription sales | 9.4 | 8.2 | 15% | 32.5 | |
Lease income | 0.2 | 0.4 | -48% | 1.8 | |
Gross margin, % | 54.2 | 56.1 | 55.8 | ||
Operating result | 7.1 | 13.3 | 66.6 | ||
% of net sales | 6.4 | 10.1 | 12.3 | ||
R&D costs | 16.4 | 17.9 | -8% | 67.7 | |
Amortization* | 1.7 | 2.1 | 8.1 |
* Amortization of intangible assets related to the acquired businesses
** Change with comparable exchange rates
First quarter 2024 net sales decreased by 15% compared to previous year and were
Gross margin decreased to 54.2 (56.1) %. Low delivery volumes decreased utilization rate at the factories covering less fixed costs and, therefore, burdening gross margin.
First quarter 2024 operating result decreased compared to previous year following decrease in net sales and gross margin and was
First quarter 2024 financial income and expenses were
Statement of financial position and cash flow
Vaisala’s financial position remained strong during January–March 2024. At the end of March, statement of financial position totaled
In January–March 2024, cash flow from operating activities decreased to
Capital expenditure
In January–March 2024, capital expenditure in intangible assets and property, plant, and equipment totaled
Depreciation, amortization, and impairment were
Personnel
The average number of personnel employed during January–March 2024 was 2,306 (2,266). At the end of
Q1/2024 review by business area
Industrial Measurements business area
MEUR | 1-3/ 2024 | 1-3/ 2023 | Change | FX** | 1-12/ 2023 |
Orders received | 51.7 | 59.9 | -14% | -12% | 222.4 |
Order book, end of period | 36.5 | 38.6 | -5% | 35.2 | |
Net sales | 48.0 | 63.0 | -24% | -24% | 227.3 |
Product sales | 41.7 | 58.2 | -28% | 207.4 | |
Service sales | 6.3 | 4.8 | 30% | 19.9 | |
Gross margin, % | 58.4 | 62.6 | 61.8 | ||
Operating result | 6.5 | 15.0 | 45.2 | ||
of net sales, % | 13.5 | 23.8 | 19.9 | ||
R&D costs | 6.6 | 7.1 | -7% | 25.9 | |
Amortization* | 0.2 | 0.4 | 1.7 |
* Amortization of intangible assets related to the acquired businesses
** Change with comparable exchange rates
Q1/2024 review
Industrial Measurements business area’s first quarter 2024 orders received decreased by 14% compared to previous year totaling
At the end of
First quarter 2024 net sales decreased by 24% from previous year and were
Gross margin decreased from previous year and was 58.4 (62.6) %. Low delivery volumes decreased utilization rate at the factory burdening gross margin.
Industrial Measurements business area’s first quarter 2024 operating result decreased compared to previous year following decrease in net sales and gross margin and totaled
Weather and Environment business area
MEUR | 1-3/ 2024 | 1-3/ 2023 | Change | FX** | 1-12/ 2023 |
Orders received | 71.5 | 72.1 | -1% | 0% | 305.8 |
Order book, end of period | 153.9 | 125.1 | 23% | 137.3 | |
Net sales | 64.1 | 68.8 | -7% | -6% | 313.1 |
Product sales | 38.1 | 40.9 | -7% | 190.3 | |
Project sales | 11.8 | 14.8 | -21% | 69.5 | |
Service sales | 4.6 | 4.5 | 3% | 19.0 | |
Subscription sales | 9.4 | 8.2 | 15% | 32.5 | |
Lease income | 0.2 | 0.4 | -48% | 1.8 | |
Gross margin, % | 51.0 | 50.2 | 51.5 | ||
Operating result | 0.6 | -1.7 | 21.1 | ||
of net sales, % | 1.0 | -2.5 | 6.7 | ||
R&D costs | 9.8 | 10.8 | -9% | 41.8 | |
Amortization* | 1.5 | 1.7 | 6.4 |
* Amortization of intangible assets related to the acquired businesses
** Change with comparable exchange rates
Q1/2024 review
Weather and Environment business area’s first quarter 2024 orders received were at previous year’s level and totaled
At the end of
First quarter 2024 net sales decreased by 7% compared to previous year and totaled
Gross margin improved compared to previous year and was 51.0 (50.2) %. More favorable business mix improved gross margin.
Weather and Environment business area’s first quarter 2024 operating result increased compared to previous year following improved gross margin and lower operating expenses and totaled
1.0 (-2.5) % of net sales.
Sustainability
Vaisala’s journey of increasing climate action and reducing emissions continues as the Science Based Targets initiative (SBTi) approved Vaisala’s near-term science-based emission reduction targets in
In
Changes in Leadership Team
In
Members of the Vaisala Leadership Team on
- Kai Öistämö, President and CEO, Chair of the Leadership Team
- Anne Jalkala, Chief Sustainability and Strategy Officer
- Sampsa Lahtinen, EVP, Industrial Measurements business area
Timo Leskinen , EVP, Human ResourcesHeli Lindfors , Chief Financial OfficerOlli Nastamo , EVP, Operational Excellence- Vesa Pylvänäinen, EVP, Operations
Jarkko Sairanen , EVP, Weather and Environment business areaKatriina Vainio ,EVP, Group General Counsel
Annual General Meeting 2024
Vaisala Corporation’s Annual General Meeting was held on
Dividend
The Annual General Meeting resolved a dividend of
Board of Directors
The Annual General Meeting confirmed that the number of Board members is nine.
The Annual General Meeting confirmed that the annual remuneration payable to the Chair of the Board of Directors is
Auditor
The Annual General Meeting elected
Sustainability reporting assurer
The Annual General Meeting elected
Authorization for the directed repurchase of own series A shares
The Annual General Meeting authorized the Board of Directors to resolve on the directed repurchase of a maximum of 800,000 of the company's own series A shares in one or more instalments by using company's unrestricted equity. The authorization is valid until the closing of the next Annual General Meeting, however, no longer than
Authorization on the issuance of the company's own series A shares
The Annual General Meeting authorized the Board of Directors to resolve on the issuance of a maximum of 936,697 company's own series A shares. The issuance of own shares may be carried out in deviation from the shareholders' pre-emptive rights (directed issue). The authorization entitles the issuance of treasury series A shares as a directed issue without payment as part of the company's share-based incentive plan. The subscription price of the shares can instead of cash also be paid in full or in part as contribution in kind. The authorization is valid until
The organizing meeting of the Board of Directors
At its organizing meeting held after the Annual General Meeting the Board elected
Shares and shareholders
Share capital and shares
Vaisala’s share capital totaled
Trading and share price development
In January–March 2024, a total of 619,264 series A shares with a value totaling
The market value of series A shares on
In
The total number of series A treasury shares on
Shareholders
At the end of
More information about Vaisala’s shares and shareholders are presented on the company’s website at vaisala.com/investors.
Near-term risks and uncertainties
Changes in geopolitical situation, interest rates and inflationary environment may affect industrial investments and economic situation and increase risk of achieving Vaisala’s financial targets.
Industrial actions in
New and changing regulations impacting product acceptance, operation’s capability to meet changing compliance requirements, and changes in international trade policies may cause delays or interruptions in supply chain. Customers’ preference for local manufacturing may reduce demand for Vaisala’s products and services. Customers’ budgetary constraints, complex decision-making processes, and missing financing solutions may postpone closing of infrastructure contracts in Weather and Environment business area.
Further information about risk management and risks are available on Annual Report’s Corporate Governance/Risk management section and on the company’s website at vaisala.com.
Events after reporting period
On
Financial calendar 2024
Half Year Financial Report 2024:
Interim Report January–September 2024:
Vantaa,
Board of Directors
The forward-looking statements in this report are based on the current expectations, known factors, decisions, and plans of
Financial information and changes in accounting policies
This Interim Report has been prepared in accordance with IAS 34 Interim Financial Reporting, following the same accounting policies and principles as in the annual financial statements for 2023. All figures in this Interim Report are group figures. All presented figures have been rounded and consequently the sum of individual figures may deviate from the sum presented. The Interim Report is unaudited.
Preparation of Interim Report in accordance with IFRS requires Vaisala’s management to make estimates and assumptions that affect the valuation of the reported assets and liabilities and the recognition of income and expenses in statement of income. Although estimates are based on management’s best knowledge at the date of Interim Report, actual results may differ from those estimates.
New and amended IFRS standards effective for the year 2024
Amendment to IAS 1 (Presentation of financial statements – Classification of liabilities as current or non-current) has been adopted from
Change in accounting policy
As of
Table below presents
2022 | 2023 | 2023 | 2023 | 2023 | ||||||
Earlier reported | Restated | Earlier reported | Restated | Earlier reported | Restated | Earlier reported | Restated | Earlier reported | Restated | |
Other reserves | 3.5 | 0.6 | -0.1 | 0.6 | 0.8 | 0.6 | 0.3 | 0.6 | 2.3 | 0.6 |
Retained earnings | 238.5 | 241.4 | 222.0 | 221.2 | 230.0 | 230.1 | 248.4 | 248.2 | 261.3 | 263.0 |
Consolidated statement of income | |||
EUR million | 1-3/ 2024 | 1-3/ 2023 | 1-12/ 2023 |
Net sales | 112.1 | 131.8 | 540.4 |
Cost of goods sold | -51.4 | -57.9 | -238.8 |
Gross profit | 60.7 | 73.9 | 301.7 |
Sales, marketing and administrative costs | -37.3 | -42.8 | -168.2 |
Research and development costs | -16.4 | -17.9 | -67.7 |
Other operating income and expenses | 0.0 | 0.0 | 0.9 |
Operating result | 7.1 | 13.3 | 66.6 |
Share of result in associated company | - | - | 0.2 |
Financial income | 1.5 | 3.8 | 8.2 |
Financial expenses | -2.0 | -4.6 | -11.9 |
Result before taxes | 6.6 | 12.5 | 63.1 |
Income taxes | -1.5 | -2.9 | -14.2 |
Result for the period | 5.2 | 9.6 | 48.9 |
Attributable to | |||
Owners of the parent company | 5.2 | 9.6 | 48.9 |
Earnings per share for result attributable to the equity holders of the parent company | |||
Earnings per share, EUR | 0.14 | 0.27 | 1.35 |
Diluted earnings per share, EUR | 0.14 | 0.26 | 1.35 |
Consolidated statement of comprehensive income | |||
EUR million | 1-3/ 2024 | 1-3/ 2023 | 1-12/ 2023 |
Items that will not be reclassified to profit or loss (net of taxes) | |||
Actuarial profit (loss) on post-employment benefits | 0.0 | 0.0 | -0.0 |
Total | 0.0 | 0.0 | -0.0 |
Items that may be reclassified subsequently to profit or loss | |||
Translation differences | 1.3 | -1.7 | -3.3 |
Total | 1.3 | -1.7 | -3.3 |
Total other comprehensive income | 1.3 | -1.7 | -3.3 |
Comprehensive income for the period | 6.4 | 7.9 | 45.6 |
Attributable to | |||
Owners of the parent company | 6.4 | 7.9 | 45.6 |
Consolidated statement of financial position | |||
EUR million | |||
Assets | 2024 | 2023 | 2023 |
Non-current assets | |||
Intangible assets | 61.3 | 68.8 | 62.5 |
Property, plant and equipment | 94.4 | 95.4 | 95.0 |
Right-of-use assets | 12.5 | 11.4 | 13.1 |
Investments in shares | 0.1 | 0.1 | 0.1 |
Investment in associated company | 1.4 | 1.4 | 1.4 |
Non-current receivables | 1.3 | 0.9 | 1.3 |
Deferred tax assets | 8.8 | 8.3 | 7.8 |
Total non-current assets | 179.7 | 186.3 | 181.1 |
Current assets | |||
Inventories | 62.5 | 65.6 | 58.8 |
Trade and other receivables | 84.4 | 88.5 | 85.5 |
Contract assets and other accrued revenue | 21.9 | 24.1 | 24.2 |
Income tax receivables | 2.8 | 3.3 | 2.8 |
Cash and cash equivalents | 105.0 | 75.4 | 90.3 |
Total current assets | 276.7 | 257.0 | 261.7 |
Total assets | 456.4 | 443.2 | 442.8 |
Equity and liabilities | 2024 | 2023 | 2023 |
Equity | |||
Share capital | 7.7 | 7.7 | 7.7 |
Other reserves | 0.6 | 0.6 | 0.6 |
Translation differences | 2.1 | 2.4 | 0.8 |
-3.4 | -2.1 | -4.2 | |
Retained earnings | 238.5 | 221.2 | 263.0 |
Total equity attributable to owners of parent company | 245.5 | 229.8 | 267.9 |
Non-controlling interests | - | - | - |
Total equity | 245.5 | 229.8 | 267.9 |
Non-current liabilities | |||
Interest-bearing borrowings | 50.0 | 0.0 | 50.0 |
Interest-bearing lease liabilities | 8.6 | 8.0 | 9.3 |
Post-employment benefits | 2.1 | 2.7 | 2.3 |
Deferred tax liabilities | 2.2 | 4.0 | 2.9 |
Provisions | 0.4 | 0.3 | 0.4 |
Other non-current liabilities | 4.4 | 5.8 | 4.2 |
Total non-current liabilities | 67.6 | 20.8 | 69.0 |
Current liabilities | |||
Interest-bearing borrowings | 0.0 | 50.0 | 0.0 |
Interest-bearing lease liabilities | 2.7 | 2.5 | 2.8 |
Trade and other payables | 104.3 | 99.8 | 66.5 |
Contract liabilities and other deferred revenue | 28.8 | 36.6 | 30.7 |
Income tax liabilities | 4.9 | 1.3 | 3.3 |
Provisions | 2.6 | 2.5 | 2.5 |
Total current liabilities | 143.3 | 192.6 | 105.9 |
Total liabilities | 210.9 | 213.4 | 175.0 |
Total equity and liabilities | 456.4 | 443.2 | 442.8 |
Consolidated cash flow statement | |||
EUR million | 1-3/ 2024 | 1-3/ 2023 | 1-12/ 2023 |
Result for the period | 5.2 | 9.6 | 48.9 |
Depreciation, amortization and impairment | 5.7 | 5.9 | 24.3 |
Financial income and expenses | 0.5 | 0.8 | 3.7 |
Gains and losses on sale of intangible assets and property, plant and | |||
equipment | - | - | -0.2 |
Share of result in associated company | - | - | -0.2 |
Income taxes | 1.5 | 2.9 | 14.2 |
Other adjustments | -0.7 | -2.3 | -0.7 |
Inventories, increase (-) / decrease (+) | -4.0 | -4.1 | 3.0 |
Non-interest-bearing receivables, increase (-) / decrease (+) | 3.1 | 14.8 | 16.2 |
Non-interest-bearing liabilities, increase (+) / decrease (-) | 7.4 | 4.1 | -9.7 |
Changes in working capital | 6.5 | 14.8 | 9.5 |
Interest and other financial items received | 0.8 | 0.2 | 1.7 |
Interest and other financial items paid | -0.7 | -1.4 | -4.4 |
Income taxes paid | -1.6 | -3.6 | -12.9 |
Cash flow from operating activities | 17.1 | 26.9 | 83.8 |
Capital expenditure on intangible assets and property, plant and | |||
equipment | -2.0 | -3.1 | -13.9 |
Proceeds from sale of intangible assets and property, plant and | |||
equipment | 0.1 | - | 0.3 |
Cash flow from investing activities | -1.9 | -3.1 | -13.7 |
Dividends paid | - | - | -26.1 |
Purchase of treasury shares | - | - | -2.1 |
Change in loan receivables | -0.0 | 0.0 | -0.3 |
Proceeds from borrowings | - | 17.4 | 77.4 |
Repayment of borrowings | - | -20.0 | -79.9 |
Principal payments of lease liabilities | -0.7 | -0.7 | -3.1 |
Cash flow from financing activities | -0.7 | -3.3 | -34.1 |
Change in cash and cash equivalents increase (+) / decrease (-) | 14.5 | 20.5 | 36.0 |
Cash and cash equivalents at the beginning of period | 90.3 | 55.5 | 55.5 |
Change in cash and cash equivalents | 14.5 | 20.5 | 36.0 |
Effect from changes in exchange rates | 0.2 | -0.6 | -1.2 |
Cash and cash equivalents at the end of period | 105.0 | 75.4 | 90.3 |
Consolidated statement of changes in equity | ||||||||
EUR million | Share capital | Other reserves | Translation differences | Retained earnings | Equity attributable to owners of the parent company | Non-controlling interests | Total | |
Equity at | 7.7 | 3.5 | 4.1 | -3.3 | 238.5 | 250.5 | 0.0 | 250.5 |
Change in share-based payments | -2.9 | 2.9 | ||||||
Equity at | 7.7 | 0.6 | 4.1 | -3.3 | 241.4 | 250.5 | 0.0 | 250.5 |
Result for the period | 9.6 | 9.6 | 9.6 | |||||
Other comprehensive income | -0.0 | -1.7 | -1.7 | -1.7 | ||||
Dividend distribution | -26.1 | -26.1 | -26.1 | |||||
Share-based payments | 1.2 | -3.6 | -2.5 | -2.5 | ||||
Changes in non-controlling interest that | ||||||||
did not result in changes in control | 0.0 | 0.0 | -0.0 | |||||
Equity at | 7.7 | 0.6 | 2.4 | -2.1 | 221.2 | 229.8 | - | 229.8 |
EUR million | Share capital | Other reserves | Translation differences | Retained earnings | Equity attributable to owners of the parent company | Non-controlling interests | Total | |
Equity at | 7.7 | 0.6 | 0.8 | -4.2 | 263.0 | 267.9 | - | 267.9 |
Result for the period | 5.2 | 5.2 | 5.2 | |||||
Other comprehensive income | 1.3 | 1.3 | 1.3 | |||||
Dividend distribution | -27.2 | -27.2 | -27.2 | |||||
Share-based payments | 0.8 | -2.4 | -1.6 | -1.6 | ||||
Equity at | 7.7 | 0.6 | 2.1 | -3.4 | 238.5 | 245.5 | - | 245.5 |
Notes to the report | |||
Orders received by business area | |||
EUR million | 1-3/ 2024 | 1-3/ 2023 | 1-12/ 2023 |
Industrial Measurements | 51.7 | 59.9 | 222.4 |
Weather and Environment | 71.5 | 72.1 | 305.8 |
Total | 123.3 | 132.0 | 528.1 |
Order book by business area | |||
EUR million | 1-3/ 2024 | 1-3/ 2023 | 1-12/ 2023 |
Industrial Measurements | 36.5 | 38.6 | 35.2 |
Weather and Environment | 153.9 | 125.1 | 137.3 |
Total | 190.4 | 163.7 | 172.5 |
Net sales by business area | |||
EUR million | 1-3/ 2024 | 1-3/ 2023 | 1-12/ 2023 |
Industrial Measurements | |||
Product sales | 41.7 | 58.2 | 207.4 |
Service sales | 6.3 | 4.8 | 19.9 |
Total | 48.0 | 63.0 | 227.3 |
Weather and Environment | |||
Product sales | 38.1 | 40.9 | 190.3 |
Project sales | 11.8 | 14.8 | 69.5 |
Service sales | 4.6 | 4.5 | 19.0 |
Subscription sales | 9.4 | 8.2 | 32.5 |
Lease income | 0.2 | 0.4 | 1.8 |
Total | 64.1 | 68.8 | 313.1 |
Total net sales | 112.1 | 131.8 | 540.4 |
Operating result by business area | |||
EUR million | 1-3/ 2024 | 1-3/ 2023 | 1-12/ 2023 |
Industrial Measurements | 6.5 | 15.0 | 45.2 |
Weather and Environment | 0.6 | -1.7 | 21.1 |
Other | 0.0 | 0.0 | 0.3 |
Total | 7.1 | 13.3 | 66.6 |
Net sales by region | |||
EUR million | 1-3/ 2024 | 1-3/ 2023 | 1-12/ 2023 |
34.7 | 45.8 | 200.4 | |
APAC | 36.6 | 44.1 | 160.2 |
EMEA | 40.8 | 41.9 | 179.8 |
Total | 112.1 | 131.8 | 540.4 |
Timing of revenue recognition | ||||
EUR million | 1-3/ 2024 | 1-3/ 2023 | 1-12/ 2023 | |
Performance obligations satisfied at a point in time | 89.3 | 107.9 | 434.8 | |
Performance obligations satisfied over time | 22.7 | 23.5 | 104.0 | |
Lease income recognized on a straight-line basis | 0.2 | 0.4 | 1.7 | |
Total | 112.1 | 131.8 | 540.4 | |
Personnel | ||||
1-3/ 2024 | 1-3/ 2023 | 1-12/ 2023 | ||
Average personnel | 2,306 | 2,266 | 2,327 | |
Personnel at the end of period | 2,313 | 2,287 | 2,314 | |
Derivative financial instruments | ||||
EUR million | 2024 | 2023 | 2023 | |
Nominal value of derivative financial contracts | 40.8 | 42.8 | 43.7 | |
Fair values of derivative financial contracts, assets | 0.1 | 1.3 | 0.4 | |
Fair values of derivative financial contracts, liabilities | 0.6 | 0.1 | 0.4 | |
Derivative financial instruments consist solely of foreign exchange forward contracts, and they are measured based on price information derived from active markets and commonly used valuation methods (Fair value hierarchy 2). Derivative financial contracts are executed only with counterparties that have high credit ratings. |
Share information | |||
EUR/thousand | 1-3/ 2024 | 1-3/ 2023 | 1-12/ 2023 |
Number of shares outstanding | 36,301 | 36,301 | 36,251 |
Number of treasury shares | 136 | 136 | 185 |
Number of shares, weighted average, diluted | 36,333 | 36,349 | 36,379 |
Number of shares, weighted average | 36,268 | 36,251 | 36,259 |
Number of shares traded | 619 | 600 | 3,090 |
Share price, highest | 39.75 | 43.45 | 44.55 |
Share price, lowest | 35.10 | 37.70 | 30.30 |
Key ratios | |||
EUR | 1-3/ 2024 | 1-3/ 2023 | 1-12/ 2023 |
Earnings per share | 0.14 | 0.27 | 1.35 |
Diluted earnings per share | 0.14 | 0.26 | 1.35 |
Equity per share | 6.76 | 6.33 | 7.39 |
Return on equity, % | 8.0 | 16.0 | 18.9 |
Cash flow from operating activities per share | 0.47 | 0.74 | 2.31 |
Solvency ratio, % | 53.8 | 52.7 | 61.3 |
Gearing, % | -17.8 | -6.5 | -10.5 |
Key exchange rates | |||||
Average rates | Period end rates | ||||
1-3/ 2024 | 1-3/ 2023 | 2024 | 2023 | 2023 | |
USD | 1.0904 | 1.0706 | 1.0811 | 1.0875 | 1.1050 |
CNY | 7.8062 | 7.3481 | 7.8144 | 7.4763 | 7.8509 |
JPY | 159.68 | 142.39 | 163.45 | 144.83 | 156.33 |
GBP | 0.8600 | 0.8816 | 0.8551 | 0.8792 | 0.8691 |
Further information
+358 9 8949 2020, ir@vaisala.com
Audiocast and teleconference
An audiocast and a conference call for analysts, investors and media will be held in English on
You can participate in the live audiocast via following link: https://vaisala.videosync.fi/q1-2024
Questions may be presented by participating in the teleconference. You can access the teleconference by registering on the link below. After the registration, you will receive an email with the dial-in numbers and a conference ID.
https://palvelu.flik.fi/teleconference/?id=50048551
A recording will be available at Vaisala.com/investors later the same day.
Distribution
Nasdaq Helsinki
Key media
vaisala.com
Attachment
Vaisala Interim Report Q1 2024 EN
© OMX, source