Review by the President and CEO

Vaisala’s 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.”

Interim Report January–March 2026, April 24, 2026