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Year 2005 was the best in Vaisala's history, both by net sales and profit after tax. Reasons for the good result include strategic changes, the effects of which started showing in 2005, as well as events occurred during the review period. Strategic changes include the shift to business model based management as well as measures taken to improve cost-efficiency. Demand grew during the review period, and sales recognition took place in more projects than anticipated. The volatility of the currency exchange markets resulted to considerable gains. Additionally, the effective tax rate remained low because of an increase in deferred tax receivables.
Demand grew during the second half of the year. Net sales grew in almost all geographical areas. The strongest growth took place in North America., which counted for half of the growth in net sales in EUR. Despite of the large number of orders received in the third quarter, the amount of orders received remained on a satisfactory level also during the last quarter in all divisions.
The sustained maintenance and development of competitiveness has enabled Vaisala to retain its market share, and the company's market position is still strong.
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