Vaisala Corporation Half Year Financial Report January-June 2026 July 21, 2026, at 9:00 a.m. (EEST)
Vaisala Corporation Half Year Financial Report January-June 2026: Strong growth in orders received driven by record-high demand in Industrial Measurements
This release is a summary of Vaisala's Half Year Financial Report January-June 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.
Second quarter 2026:
- Orders received EUR 137.4 (124.1) million, increase 11%, in constant currencies 11%
- Order book at the end of the period EUR 198.9 (Dec 31, 2025: 185.8) million, increase 7%, in constant currencies 6%
- Annual recurring revenue* (ARR) at the end of the period EUR 58.0 (Jun 30, 2025: 54.3) million, increase 7%
- Net sales EUR 151.4 (145.0) million, increase 4%, in constant currencies 6%
- EBITA EUR 22.1 (19.6) million, 14.6 (13.5) % of net sales
- Operating result (EBIT) EUR 20.2 (16.9) million, 13.3 (11.7) % of net sales
- Earnings per share EUR 0.41 (0.30)
- Cash flow from operating activities EUR 30.3 (14.4) 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.
January-June 2026:
- Orders received EUR 264.9 (245.6) million, increase 8%, in constant currencies 11%
- Net sales EUR 288.5 (280.6) million, increase 3%, in constant currencies 7%
- EBITA EUR 42.8 (40.0) million, 14.8 (14.3) % of net sales
- Operating result (EBIT) EUR 39.0 (34.8) million, 13.5 (12.4) % of net sales
- Earnings per share EUR 0.78 (0.63)
- Cash flow from operating activities EUR 48.9 (33.1) million
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 and its EBITA will be in the range of EUR 95-110 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 | 4-6/2026 | 4-6/2025 | Change | 1-6/2026 | 1-6/2025 | Change | 1-12/2025 |
| Orders received | 137.4 | 124.1 | 11% | 264.9 | 245.6 | 8% | 517.2 |
| Order book, at the end of the period | 198.9 | 200.9 | -1% | 198.9 | 200.9 | -1% | 185.8 |
| Annual recurring revenue (ARR), at the end of the period | 58.0 | 54.3 | 7% | 58.0 | 54.3 | 7% | 57.1 |
| Net sales | 151.4 | 145.0 | 4% | 288.5 | 280.6 | 3% | 596.9 |
| Gross profit | 86.7 | 79.0 | 10% | 165.5 | 156.8 | 6% | 329.7 |
| Gross margin, % | 57.2 | 54.5 | 57.4 | 55.9 | 55.2 | ||
| Operating expenses | 67.4 | 62.1 | 8% | 127.4 | 122.0 | 4% | 245.3 |
| EBITA | 22.1 | 19.6 | 42.8 | 40.0 | 94.2 | ||
| % of net sales | 14.6 | 13.5 | 14.8 | 14.3 | 15.8 | ||
| Operating result (EBIT) | 20.2 | 16.9 | 39.0 | 34.8 | 85.1 | ||
| % of net sales | 13.3 | 11.7 | 13.5 | 12.4 | 14.3 | ||
| Result before taxes | 19.3 | 14.6 | 36.9 | 29.7 | 77.1 | ||
| Result for the period | 14.8 | 11.0 | 28.4 | 22.9 | 59.8 | ||
| Earnings per share | 0.41 | 0.30 | 34% | 0.78 | 0.63 | 24% | 1.65 |
| Return on equity, % | 17.4 | 15.3 | 18.8 | ||||
| Research and development costs | 19.7 | 18.0 | 9% | 36.9 | 34.9 | 6% | 68.3 |
| Capital expenditure* | 5.5 | 6.1 | -10% | 6.9 | 11.0 | -38% | 21.4 |
| Depreciation, amortization and impairment | 6.6 | 7.0 | -5% | 13.3 | 13.9 | -5% | 27.7 |
| Cash flow from operating activities | 30.3 | 14.4 | 110% | 48.9 | 33.1 | 48% | 90.4 |
| Cash conversion | 1.5 | 0.9 | 1.3 | 1.0 | 1.1 | ||
| Net debt | 15.1 | 52.0 | 14.3 | ||||
| Gearing, % | 4.6 | 17.9 | 4.4 | ||||
*Excluding impact of acquired businesses
President and CEO Kai Öistämö
"Vaisala continued to perform well in the second quarter of 2026 after a strong start to the year. Record-high demand in Industrial Measurements bolstered Vaisala's growth in both orders received and net sales. Xweather continued to grow at a double-digit percentage. In Weather, Energy, and Environment, the second quarter was more muted, as expected.
Vaisala's order intake increased by 11% in the second quarter, driven by record-high demand in the Industrial Measurements business area. Net sales increased by 4% (6% in constant currencies), driven by double-digit growth in Industrial Measurements and Xweather. Profitability remained solid, and the EBITA margin improved to 14.6%. We closed the quarter with an order book of EUR 198.9 million, which is 7% higher than the level at the end of last year.
The Industrial Measurements business area had yet another excellent quarter, reaching record-high order intake and net sales. Orders received increased by 26% compared to the previous year (28% in constant currencies) as the demand grew across market segments and geographies. Large orders from data center and power customers further boosted the order intake, along with increased number of service contracts. This has also driven a shift in the Industrial Measurements order book profile compared to the previous year, resulting in a notably high order book. Net sales increased by 10% (13% in constant currencies), driven especially by the APAC region. The largest market segments in the Industrial Measurements business area are life science, which represents about 30% of the business area's net sales, as well as data centers and power, which both represent about 10% of the business area's net sales.
The Xweather business area's double-digit growth continued in the second quarter. Net sales increased by 13% compared to the previous year (15% in constant currencies). Annual recurring revenue (ARR) was EUR 58.0 million. A key event in the quarter was the announcement of the acquisition of Atmo Inc., a San Francisco-based technology and AI weather company. This acquisition is a natural expansion to accelerate Xweather's technology roadmap and growth, and it places Vaisala in a strong position to lead the transformation of meteorology: over 90 years of weather science expertise and measurement technology used in over 150 countries, now paired with the most advanced AI forecasting models in the field. The acquisition is expected to close by the end of 2026.
The Weather, Energy, and Environment business area had a slow quarter in project orders, which resulted in a decrease in order intake compared to the previous year. The EUR 25 million project for airport weather systems and equipment in Indonesia, announced in August 2024, progressed during the second quarter as the customer's financing arrangements were clarified. We expect the order to be confirmed in the third quarter. Weather, Energy, and Environment's second-quarter net sales were close to the previous year's level, with growth in large project and product deliveries in the EMEA region and a decline in the renewable energy market segment. In May, we launched the new PRECICAP Radar Precipitation Sensor, designed to enhance measurement accuracy and reliability across a variety of weather monitoring environments. This new innovative product supports customers in responding to increasing extreme weather events, such as intense rainfall and floods.
Geopolitical tensions and shifting market conditions have been present during the first half of the year, resulting in ongoing uncertainties within the business environment and supply chain. Looking ahead to the second half of the year, these uncertainties are expected to persist. Nevertheless, Vaisala has demonstrated the ability to remain resilient in a changing environment, and we continue scenario planning to stay adaptable.
We reconfirm our business outlook for 2026 and 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 Tuesday, July 21, 2026, starting at 13:00 p.m. (EEST).
You can participate in the live audiocast via the following link: https://vaisala.events.inderes.com/q2-2026/register
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/q2-2026/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
Attachment
- Vaisala Half Year Financial Report January-June 2026
