Vaisala (VAIAS) Q4 2025 earnings summary

Executive summary

• Achieved strong performance in 2025 despite significant headwinds, including a sharp decline in the renewable energy market and currency volatility; orders received improved in Q4, with a 10% increase in constant currencies, driven by industrial measurements and weather/environment segments.

• Net sales for 2025 increased 6% to EUR 596.9 million, driven by strong growth in Industrial Measurements and expanding subscription sales; Q4 net sales decreased 3% year-over-year.

• Subscription sales, particularly Xweather, grew 50% year-on-year, supported by recent acquisitions and AI innovation.

• Board proposes a dividend of EUR 0.86 per share for the AGM.

• EBITA for 2025 was EUR 94.2 million (15.8% of net sales), including EUR 4.9 million in one-off restructuring costs; EPS EUR 1.65.

Financial highlights

• Q4 2025: Orders received EUR 152.0 million (+5%), net sales EUR 162.3 million (-3%), EBITA EUR 26.1 million, EPS EUR 0.50.

• Full-year 2025: Orders received EUR 517.2 million (-9%), net sales EUR 596.9 million (+6%), EBITA EUR 94.2 million, EBIT EUR 85.1 million, EPS EUR 1.65.

• Gross margin for 2025 was 55.2% (down from 56.3%); EBITA margin 15.8%; cash flow from operations EUR 90.4 million (up from EUR 78.9 million); cash and cash equivalents at year-end EUR 92.8 million.

• Order book at year-end EUR 185.8 million, 14% below previous year.

• Return on equity for 2025 was 18.8%; solvency ratio 55.7%; gearing reduced to 4.4%.

Outlook and guidance

• 2026 net sales expected between EUR 600–630 million; EBITA guidance EUR 95–110 million.

• Growth anticipated in industrial, life science, power, and Xweather subscription markets; stable outlook for meteorology, aviation, and renewable energy at a lower base.

• Market uncertainties anticipated to persist in 2026.