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- Vaisala - Excellent start for the year 2022
Vaisala - Excellent start for the year 2022
• Industrial Measurements (IM): Orders received increased by 19% to EUR 54.7m while the order book stood at EUR 35.1m (41% y/y). Order intake was strong in industrial instruments and life science. IM saw a 34% y/y growth, with net sales totaling EUR 53.1m (Evli: 49.1m). The topline growth was driven by all IM’s segments. Operating profit was EUR 14.6m, 27.5% of net sales. Increased fixed costs affected EBIT negatively.
• Weather & Environment (W&E): Orders received increased by 17% y/y to EUR 70.3m. The order book was strong and grew by 2% y/y to EUR 133.4m. Order intake grew in renewable energy and aviation while ground transportation and meteorology decreased y/y. W&E delivered very strong growth of 26% y/y in Q1, net sales totaling EUR 65.7m, beating our estimates (Evli: 59.5m). Supported by ~50% gross margin EBIT amounted to EUR 2.9m, implying a 4.4% margin.
• 2022 guidance unchanged: Net sales between EUR 465–495m and EBIT between EUR 55–70m.
• Market outlook: Markets for high-end industrial instruments, life science, power industry, and liquid measurements are expected to continue to grow while meteorology and ground transportation are expected to be stable. Aviation market is expected to recover towards pre-pandemic level. Renewable energy market is expected to continue to grow.