Vaisala (VAIAS) Q4 2025 earnings summary

Executive summary

• Achieved strong performance in 2025 despite significant headwinds from a sharp decline in the renewable energy market, currency volatility, and new import duties between the U.S. and Europe.

• Orders received in Q4 2025 rose 5% to EUR 152.0 million, with a 10% increase in constant currencies; full-year orders received declined 9% year-over-year due to weak renewable energy demand and normalization in meteorology and aviation markets.

• 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 in Xweather, grew by 50% year-over-year, supported by recent acquisitions and organic growth.

• Maintained a strong financial position with robust cash flow and low leverage.

Financial highlights

• Full-year 2025 net sales were EUR 596.9 million, up 6% year-over-year; Q4 net sales EUR 162.3 million, down 3% year-over-year.

• Orders received for 2025 were EUR 517.2 million, down 9%; Q4 orders EUR 152.0 million, up 5%.

• Gross margin for 2025 was 55.2% (down from 56.3%); EBITA margin 15.8%; earnings per share EUR 1.65.

• Cash flow from operating activities increased to EUR 90.4 million; cash conversion at 1.1.

• Cash and cash equivalents at year-end were EUR 92.8 million; gearing improved to 4.4%.

Outlook and guidance

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

• Market outlook for 2026 anticipates growth in industrial, life science, power, and Xweather subscription sales, with stable conditions in meteorology, aviation, and renewable energy at a lower base.

• Board proposes a dividend of EUR 0.86 per share.

• Market uncertainties anticipated to persist in 2026.