Vaisala Interim Report January-March 2026
Vaisala Corporation Interim Report January–March 2026: Industrial Measurements growth driving first quarter results
Vaisala Corporation Interim Report January–March 2026 April 24, 2026, at 9:00 a.m. (EEST)
Vaisala Corporation Interim Report January–March 2026: Industrial Measurements growth driving first quarter results
This release is a summary of Vaisala’s Interim Report January–March 2026. The complete report is attached to this release as a pdf file. It is also available on the company website at https://www.vaisala.com/en/investors.
First quarter 2026:
- Orders received EUR 127.4 (121.4) million, increase 5%, in constant currencies 10%
- Order book at the end of the period EUR 197.2 (Dec 31, 2025: 185.8) million, increase 6%
- Annual recurring revenue* (ARR) EUR 58.2 (Dec 31, 2025: 57.1) million, increase 2%
- Net sales EUR 137.0 (135.6) million, increase 1%, in constant currencies 7%
- EBITA EUR 20.7 (20.5) million, 15.1 (15.1) % of net sales
- Operating result (EBIT) EUR 18.9 (17.9) million, 13.8 (13.2) % of net sales
- Earnings per share EUR 0.38 (0.33)
- Cash flow from operating activities EUR 18.6 (18.7) million
* As of Q1/2026, Vaisala reports annual recurring revenue (ARR) for the Xweather business area. ARR equals average recurring monthly revenue for the quarter multiplied by twelve, including charges from volume-based contracts.
Business outlook for 2026
Vaisala estimates, excluding potential significant changes in market conditions, that its full-year 2026 net sales will be in the range of EUR 600–630 million (2025: EUR 597 million) and its EBITA will be in the range of EUR 95–110 million (2025: EUR 94 million).
Market outlook for 2026
Industrial markets are expected to grow, driven especially by the data center and semiconductor industries. Life science and power markets are expected to grow as well.
Mature meteorology and aviation markets normalized during 2025 after two years of exceptionally high demand. These markets are now expected to remain stable compared to the 2025 year-end levels.
Renewable energy markets declined in 2025 as wind resource assessment markets slowed down significantly. In 2026, renewable energy markets are expected to remain stable compared to the 2025 year-end level.
Markets for Xweather subscription sales are expected to grow.
Key figures
| MEUR | 1-3/2026 | 1-3/2025 | Change | 1-12/2025 |
| Orders received | 127.4 | 121.4 | 5% | 517.2 |
| Order book | 197.2 | 212.5 | -7% | 185.8 |
| Annual recurring revenue (ARR) | 58.2 | 55.4 | 5% | 57.1 |
| Net sales | 137.0 | 135.6 | 1% | 596.9 |
| Gross profit | 78.8 | 77.8 | 1% | 329.7 |
| Gross margin, % | 57.5 | 57.3 | 55.2 | |
| Operating expenses | 60.1 | 59.9 | 0% | 245.3 |
| EBITA | 20.7 | 20.5 | 94.2 | |
| % of net sales | 15.1 | 15.1 | 15.8 | |
| Operating result (EBIT) | 18.9 | 17.9 | 85.1 | |
| % of net sales | 13.8 | 13.2 | 14.3 | |
| Result before taxes | 17.6 | 15.1 | 77.1 | |
| Result for the period | 13.6 | 11.9 | 59.8 | |
| Earnings per share | 0.38 | 0.33 | 15% | 1.65 |
| Return on equity, % | 17.1 | 16.0 | 18.8 | |
| Research and development costs | 17.2 | 16.9 | 2% | 68.3 |
| Capital expenditure* | 1.3 | 4.9 | -73% | 21.4 |
| Depreciation, amortization and impairment | 6.7 | 7.0 | -4% | 27.7 |
| Cash flow from operating activities | 18.6 | 18.7 | 0% | 90.4 |
| Cash conversion | 1.0 | 1.0 | 1.1 | |
| Net debt | -3.7 | 27.8 | 14.3 | |
| Gearing, % | -1.2 | 9.7 | 4.4 |
*Excluding impact of acquired businesses
President and CEO Kai Öistämö
“Vaisala performed well in the first quarter of 2026, with strong growth in the Industrial Measurements business area driving the overall results. The Xweather business area continued its double-digit growth in constant currencies. The Weather, Energy, and Environment business area started the year at a slower pace but achieved order intake at the same level as the previous year.
In the first quarter, Vaisala’s order intake increased by 5%, or by 10% in constant currencies, driven by strong growth in the Industrial Measurements business area. Net sales were at the previous year’s level in reported currencies but increased by 7% in constant currencies. This growth was led by both the Industrial Measurements and Xweather business areas. Profitability remained steady, with an EBITA margin of 15.1%.
We announced in March that we have decided to change our financial reporting structure. The Xweather business area has achieved double-digit growth every year since it was established in 2022, and we aim to further expand this business in line with our strategy. Therefore, we want to increase transparency and provide investors with relevant information about this business area, in addition to our other business areas. This Interim Report is the first in which we report on the Xweather business as its own reportable segment, alongside the Weather, Energy, and Environment, and Industrial Measurements reportable segments.
The Industrial Measurements business area had an excellent start to the year, and demand remained strong across all market segments. Orders received increased by 9%, or 17% in constant currencies, compared to the previous year. The growth was particularly strong in the industrial and power market segments. Net sales increased by 7%, or 16% in constant currencies, also driven by the industrial and power markets. We continuously develop our Industrial Measurements offering to secure our product and market leadership. In February, we launched Origo, a modular platform and transmitters for precise indoor climate monitoring, further improving our offering for data centers and other critical facilities.
The Xweather business area continued its strong growth in the first quarter, driven by the insurance industry, as well as sales to developers and API customers. Net sales were flat compared to the previous year in reported currencies but grew by 12% in constant currencies. Annual recurring revenue (ARR) was EUR 58.2 million.
The Weather, Energy, and Environment business area had a slower first quarter. Orders received remained at the previous year’s level, slowed down by the renewable energy market. On the other hand, demand grew in the meteorology and aviation markets. Net sales declined by 5%, or 3% in constant currencies, compared to the previous year, driven by the renewable energy and aviation markets. In the meteorology market, net sales grew slightly from the previous year. Service sales developed positively, and we launched a new service offering, Vaisala Care, for our weather systems and sensors customers.
The beginning of the year has been shaped by increasing geopolitical tensions and changes in market conditions, bringing uncertainties in the business landscape. As we step into the second quarter, we expect these uncertainties to continue. However, Vaisala has shown resilience in a constantly changing environment and we continue our scenario work to ensure our adaptability.
We continue to estimate, excluding potential significant changes in market conditions, that our 2026 net sales will be in the range of EUR 600–630 million and our EBITA will be in the range of EUR 95–110 million.”
Audiocast and teleconference
An audiocast and a conference call for analysts, investors, and media will be held in English on Friday, April 24, 2026, starting at 12:30 p.m. (EEST).
You can participate in the live audiocast via the following link: https://vaisala.events.inderes.com/q1-2026
Questions may be presented by participating in the teleconference. You can access the teleconference by registering at the link below. After registration, you will receive an email with the dial-in numbers and a conference ID.
https://events.inderes.com/vaisala/q1-2026/dial-in
A recording will be available at vaisala.com/investors later the same day.
Further information
Niina Ala-Luopa, investor relations
+358 400 728 957, ir@vaisala.com
Vaisala Corporation
Distribution
Nasdaq Helsinki
Key media
vaisala.com
Vaisala is a global leader in measurement instruments and intelligence for climate action. We equip our customers with devices and data to improve resource efficiency, drive energy transition, and care for the safety and well-being of people and societies worldwide. With over 90 years of innovation and expertise, we employ a team of close to 2,500 experts committed to taking every measure for the planet. Vaisala series A shares are listed on the Nasdaq Helsinki stock exchange. vaisala.com