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2021-10-28

Vaisala Corporation Interim Report January–September 2021

Vaisala Corporation        Interim Report                                October 28, 2021 at 9.00 a.m. (EEST)

Vaisala Corporation Interim Report January–September 2021
Strong demand and excellent performance continued during third quarter

Third quarter 2021 highlights

  • Orders received EUR 109.9 (85.3) million, increase 29%
  • Order book at the end of the period EUR 164.8 (134.6) million, increase 22%
  • Net sales EUR 111.5 (94.0) million, increase 19%
  • Operating result (EBIT) EUR 19.2 (19.5) million, 17.3 (20.7) % 0f net sales
  • Earnings per share EUR 0.44 (0.40)
  • Cash flow from operating activities EUR 19.6 (12.5) million

January–September 2021 highlights

  • Orders received EUR 336.2 (270.9) million, increase 24%
  • Net sales EUR 312.9 (272.6) million, increase 15%
  • Operating result (EBIT) EUR 38.3 (32.6) million, 12.2 (11.9) % 0f net sales
  • Earnings per share EUR 0.87 (0.68)
  • Cash flow from operating activities EUR 48.9 (16.7) million

Market development and business outlook for 2021
Market for high-end industrial instruments, life science, and power industry markets is expected to continue to grow. Liquid measurements market is expected to continue to recover.

Meteorology market in developed countries is expected to remain stable, while in developing countries demand is expected to continue to suffer and recovery is expected to take longer than in developed markets. Aviation market declined significantly in 2020, and market is expected to recover gradually. Ground transportation market is expected to be stable. Renewable energy market is expected to continue to grow.

Global economy is expected to continue to recover, however, component shortage is expected to continue during the fourth quarter and the first half of next year.

Vaisala reiterates the business outlook that was published on October 19, 2021:
Vaisala estimates that its full-year 2021 net sales will be in the range of EUR 425–440 million and its operating result (EBIT) will be in the range of EUR 48–58 million.

Earlier Vaisala estimated that its full-year 2021 net sales would be in the range of EUR 400–420 million and its operating result (EBIT) would be in the range of EUR 40–50 million.

Key figures       
MEUR7-9/
2021
7-9/
2020
Change1-9/
2021
1-9/
2020
Change1-12/
2020
Orders received109.985.329%336.2270.924%382.8
Order book164.8134.622%164.8134.622%137.8
Net sales111.594.019%312.9272.615%379.5
Gross profit64.354.219%175.3153.214%212.9
Gross margin, %57.757.7 56.056.2 56.1
Operating expenses42.836.717%132.7121.39%169.2
Operating result19.219.5 38.332.6 44.8
Operating result, %17.320.7 12.211.9
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