2012-05-04 08:00:00 CEST
2012-05-04 08:01:22 CEST
REGULATED INFORMATION
Vaisala - Interim report (Q1 and Q3)
Vaisala Group Financial Statement Bulletin Q1/2012
Vaisala Corporation Stock exchange release May 4, 2012 at 9.00 a.m.
First quarter net sales at preceding year level. Operating result positive EUR
1 million. Orders received down but order book remains strong. Outlook
unchanged.
January-March highlights
- Orders received: EUR 55.7 (57.0) million, decrease 2%.
- Order book EUR 131.1 (127.1) million, increase 3%
- Net sales EUR 58.8 (58.9) million, decrease 0%.
- Operating result EUR 1.0 (-0.9) million, increase 207%.
- Earnings per share EUR -0.01 (-0.13), increase 94%.
- Cash flow from business operations EUR 4.5 (14.7) million.
- Liquid funds EUR 50.2 (47.7) million.
January - March Comments
Net sales were EUR 58.8 million and at the same level as in the preceding year.
Weather Business Area net sales were EUR 41.0 million and increased by 2% year-
on-year. Controlled Environment Business Area net sales were EUR 17.8 million
and decreased by 4% year-on-year.
Net sales in EMEA increased by 20% year-on-year but net sales decreased in
Americas by 9% and in APAC by 12% year-on-year.
Orders received were EUR 55.7 million and decreased by 2% year-on-year. The
order book remains strong and it was EUR 131.1 million, 3% higher than at the
end of March 2011.
The operating result was EUR 1.0 million and increased by 207% year-on-year.
Weather Business Area operating result was EUR -2.2 million and increased by
55% year-on-year. Controlled Environment Business Area operating result was EUR
3.3 million and decreased by 18% year-on-year.
KEY FIGURES
1-3 1-3 Change 1-12
2012 2011 (%) 2011
MEUR MEUR MEUR
--------------------------------------------------------------
Net sales, Group 58.8 58.9 0 273.6
Weather 41.0 40.3 2 201.8
Controlled Environment 17.8 18.6 -4 71.7
Orders received 55.7 57.0 -2 278.8
Order book 131.1 127.1 3 134.3
Operating result, Group 1.0 -0.9 207 16.1
Weather -2.2 -4.8 55 5.9
Controlled Environment 3.3 4.0 -18 10.5
Eliminations and other -0.2 -0.1 -105 -0.3
Result before taxes 0.0 -2.6 100 16.1
Net result for review period -0.1 -2.3 94 10.4
% of net sales
Operating result, Group (%) 1.6 % -1.5 % 5.9 %
Result before taxes (%) 0.0 % -4.5 % 5.9 %
Net result for review period (%) -0.2 % -3.9 % 3.8 %
Earnings per share -0.01 -0.13 94 0.57
Return on equity (%) -0.3 % -5.3 % 5.7 %
Cash flow from business operations 4.5 14.7 -69 37.6
Liquid funds at end of period 50.2 47.7 5 45.5
President and CEO Kjell Forsén on the first quarter result"Vaisala's first quarter follows our guidance. Net sales are at preceding year's
level and the operating result has improved moderately. The order book is at a
higher level than last year, despite a slightly weaker order intake. Noteworthy
is also our higher gross margin level, reflecting our improved project business
capability. The first quarter is typically slow for Vaisala, and this year makes
no exception. The result in the Weather Business Area improved compared with the
preceding year due to a better product mix and improved profitability of our
project business, whereas the performance of the Controlled Environment Business
Area suffered from challenges in certain markets.
Despite the prevailing uncertainty in the Eurozone, the net sales in EMEA
increased by 20%, whereas Americas net sales decreased by 9% due to the
continuing challenges in governmental funding. In APAC, the net sales decreased
by 12%, reflecting the fact that Japan is not yet fully recovered from the 2011
tsunami and also the problems the Japanese industry is facing due to the very
strong Yen.
All in all, Vaisala keeps improving its efficiency and supply chain management,
which shows in shorter lead times and improved margins. Our development programs
continue to be executed including the global roll-out of our ERP system. The
progress is good across the board and I want to thank our highly skilled and
committed people who are behind the achievements we have accomplished.
Vaisala's guidance for the full year 2012 remains unchanged."
Market outlook
Uncertainty in the global economy and shifts in exchange rates are expected to
affect Vaisala's business. Based on the structure of Vaisala's customer base and
the orders rece¬ived, the company's market situation is expected to remain
materially unchanged in 2012.
Financial guidance
Vaisala expects its net sales in 2012 to stay at the same level as in the
preceding year. The operating result is expected to improve moderately. Net
sales in 2011 were EUR 273.6 million and operating result was EUR 16.1 million.
Vaisala's long-term business outlook remains unchanged.
Disclosure procedure
This is a summary of Vaisala's Q1/2012 Interim Report. The complete report is
attached as pdf file to this release and is also available at Vaisala website at
www.vaisala.com/investors. (Re. Standard 5.2b published by the Finnish Financial
Supervision Authority.
Briefing and webcast
Briefing for analysts and media will be held in Paavo Nurmi meeting room, Hotel
Kämp, Pohjoisesplanadi, Helsinki starting at 12.00 noon. Please register by
email to liisa.ahtiluoto@vaisala.com.
A live audiocast of the presentation of Kjell Forsén, President and CEO of
Vaisala, will be sent starting at 12:00 noon (GMT +2). The webcast will be
available at www.vaisala.com/investors. A recording will be published at the
same address by 2:00 p.m. (GMT +2) on the same day.
Further information:
Kaarina Muurinen, CFO, tel +358 9 8949 2215, mobile +358 40 577 5066
Vaisala is a global leader in environmental and industrial measurement. Building
on 75 years of experience, Vaisala contributes to a better quality of life by
providing a comprehensive range of innovative observation and measurement
products and services for meteorology, weather critical operations and
controlled environments. Headquartered in Finland, Vaisala employs approximately
1400 professionals worldwide and is listed on the NASDAQ OMX Helsinki.
Distribution:
NASDAQ OMX Helsinki
Key media
www.vaisala.com
[HUG#1608797]
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