Vaisala (VAIAS) Q3 2025 earnings summary

Executive summary

• Achieved strong net sales growth of 13% year-over-year in Q3 2025 (16% in constant currencies), with both business areas contributing, though orders received declined 21% due to weak demand in Weather and Environment.

• EBITDA/EBITA margin reached 18.2%, or 20% excluding restructuring costs, with subscription sales up 57% year-over-year, supporting profitability.

• Cash flow from operating activities improved significantly, and free cash flow was around EUR 40 million.

• Acquired Quanterra Systems to expand greenhouse gas measurement capabilities.

Financial highlights

• Q3 2025 net sales: EUR 154.0 million (+13% y/y), EBITA: EUR 28.0 million (18.2% margin), EPS: EUR 0.51; gross margin declined to 54.4% from 57.3% y/y due to FX and tariffs.

• January–September 2025 net sales: EUR 434.6 million (+9% y/y), EBITA: EUR 68.0 million (15.7% margin), EPS: EUR 1.14.

• Free cash flow was around EUR 40 million, with cash conversion at an excellent level.

• Subscription sales up 58% in the first nine months, driven by acquisitions and organic growth.

Outlook and guidance

• Full-year 2025 net sales expected at EUR 590–605 million; EBITA at EUR 90–100 million.

• Business outlook for 2025 remains unchanged, with growth expected in industrial measurement, life science, and power, but declines in renewable energy, meteorology, and aviation.

• Market uncertainty remains high, especially in mature segments and renewable energy.