Vaisala - Solid figures across the board
Vaisala had given preliminary figures ahead of Q2 and as such contained no surprises on group level. Orders received and revenue grew well in both BU’s, but more strongly in Industrial Measurements. Faster than expected recovery from the pandemic had a positive effect on demand, in particular in APAC and Europe.
- Group level results: Q2 net sales increased by 25% to 109.5 MEUR (pre-announced). Q2 EBIT came in at 10.9 MEUR (pre-announced), resulting in a 10.0% EBIT-margin (Q2’20: 7.9 MEUR, 8.7% EBIT-margin)
- Gross margin was 55.3% vs. 54.5% last year.
- Orders received were 120.1 MEUR vs. 95.9 MEUR last year. Orders received grew by 25%; 17% in W&E and 41% in IM. Order book was 165.3 MEUR vs. 145.3 MEUR in Q2’20.
- Weather & Environment (W&E) net sales increased by 14% to 65.4 MEUR vs. 65.9 MEUR our expectation. W&E EBIT was 1.0 MEUR (1.7 MEUR Evli). W&E’s orders received grew by 17%. Orders received growth was very strong in the meteorology market segment and increased also in renewable energy and aviation market segments. Net sales grew in meteorology and renewable energy market segments, whereas net sales in ground transportation and aviation market segments decreased. Industrial Measurements (IM) net sales grew 31% to 44.1 MEUR vs. 43.6 MEUR our expectation. IM EBIT was 10.5 MEUR (9.6 MEUR Evli), resulting in a 23.7% EBIT-margin (Q2’20: 20.9%). IM order intake growth was 41%. Orders received increased very strongly in life science and industrial instruments market segments. Net sales growth was strong in industrial instruments and life science market segments, and good in power industry market segment.
- Vaisala raised its business outlook for 2021 ahead of Q2, expecting net sales to be in the range of 400–420 MEUR and EBIT in the range of 40–50 MEUR.