Review by the President and CEO

Vaisala’s President and CEO Kai Öistämö

“Vaisala had an excellent third quarter of 2026, with record high order intake, solid net sales growth, and very strong profitability. Industrial Measurements once again performed exceptionally, driving the group’s overall results. Weather, Energy, and Environment achieved very strong order intake, and Xweather continued to grow steadily.

Vaisala’s order intake increased by 38% in the third quarter, supported by growth in both Industrial Measurements and Weather, Energy, and Environment. Net sales increased by 6%, driven by very strong Industrial Measurements. Industrial Measurements’ growing share of Vaisala’s net sales also improved the group’s profitability, resulting in very strong EBITA. EBITA was further supported by U.S tariff refunds from 2025 as a one-off item in the third quarter. The group’s EBITA margin reached a record-high 24.9%. The order book increased to EUR 215.0 million, representing a 16% rise from the end of 2025.

The Industrial Measurements business area continued its very strong performance, as it has shown throughout the year. Order intake increased by 24%, with growth across regions and market segments. The business area’s net sales increased by 28% year over year. Record-high net sales in the quarter were supported by a strong opening order book at the start of the third quarter. Growth in both order book and net sales was driven by strong demand from the data center, semiconductor, battery manufacturing, and power industries. We continued to develop our offering for growth markets with new a monitoring solution and service portfolio for data centers. We also introduced a new dew point instrument for emerging and established industrial applications, including hydrogen and renewable gases.

The Xweather business area continued to grow in the third quarter, with net sales increasing by 9% year over year. Growth was driven particularly by the insurance industry, as well as by sales to developers and API customers. The acquisition of Atmo, Inc., announced in the second quarter, has progressed as planned, and we expect the transaction to close in the fourth quarter.

The Weather, Energy, and Environment business area achieved excellent order intake in the third quarter, increasing 53% year over year. The growth was boosted by the EUR 25 million order for airport weather systems and equipment in Indonesia, which was confirmed in September. The project, Vaisala’s largest aviation weather project to date, is now entering the implementation phase, with most of the delivery expected to take place over the next three years. As expected, Weather, Energy and Environment’s net sales were below last year’s level (11% decrease), against a very strong comparison period in 2025.

With the continued strong performance of Industrial Measurements driving growth in Vaisala’s net sales and profitability, and U.S. tariff refunds further supporting profitability, we adjusted our 2026 net sales estimate and raised our EBITA estimate. In our updated business outlook, announced on October 12, we estimate that our 2026 net sales will be in the range of EUR 610–630 million and our EBITA will be in the range of EUR 110–120 million. The business outlook excludes impacts of the planned Atmo, Inc. acquisition and potential significant changes in market conditions.”

Interim Report January–September 2026, October 27, 2026