Vaisala (VAIAS) Investor presentation summary

Strategy and portfolio

• Three complementary businesses target industrial measurements, weather observations, and recurring Xweather data and software subscriptions.

• Long-term financial targets include average sales growth of 7%; priorities include expanding in industrials, growing recurring revenue and services, and leading in weather insights.

• 2025 R&D investment was €68.3M, or 11% of net sales; ROCE was 20%.

• 2015–2025 total shareholder return was 370%, ~15% p.a., versus 157% for OMXHGI; cumulative dividends were €262.6M.

Market opportunities

• Industrial markets include data centers, semiconductors, batteries, life science, and power; stated market sizes were €1,300M, €300M, and €250M, respectively.

• Xweather targets transportation and logistics, energy and utilities, finance and insurance, and developers; its addressable market was stated as €2B.

• Meteorology, aviation, defense, and roads represent a mature, stable €700M market; renewable energy has a €150M addressable market facing headwinds.

Q3 2026 performance

• Orders received rose 38% YoY to €164.6M; order book was €215.0M, up 16% from year-end 2025, and net sales increased 6% to €162.9M.

• Q3 gross margin was 61.5% (54.4%); EBITA margin was 24.9% (18.2%), with U.S. tariff refunds, lower tariff impact, higher sales, and favorable mix contributing.

• Industrial Measurements orders rose 24% and net sales 28% YoY; gross margin was 65.8% (61.2%) and EBITA margin 31.7% (25.6%).

• Xweather net sales increased 9% YoY; ARR was €60.9M, up 9%, gross margin was 79.0% (75.5%), and EBITA margin was 9.4% (6.9%).

• Weather, Energy, and Environment orders rose 53% YoY, supported by the €25M Indonesia airport project; net sales fell 11% against a strong comparison period and EBITA margin was 17.3% (20.2%).