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Vaisala Company 2020 Monetary Statements Launch

Vaisala Company monetary statements launched on February 19, 2021 at 9:00 a.m. (EET) Vaisala Company 2020 monetary statements launched Powerful yr ended with robust order consumption Fourth Quarter 2020 Highlights Orders Acquired 111.9 (103.Three) million euros, enhance of Eight% Order e-book on the finish of the interval 137.Eight (139.Zero) million euros, lower of 1% Gross sales 106.9 (118.1) million euros, down 10% Working profit (EBIT) 12.2 (17.7) million euros, 11.Four (15.Zero)% of gross sales Internet enterprise Earnings per share Zero.24 (Zero.41) euro) Money circulation from working actions 24.Three (23.1) million euro Highlights from January to December 2020 Orders obtained 382 , Eight (419.Four) million euros, lower of 9% Internet gross sales 379.5 (403.6) million euros, lower of 6% Working profit (EBIT) 44 , Eight euros (41.1)) million, 11.Eight (10.2)% 0f chi enterprise free Earnings per share EUR Zero.91 (Zero.94) Money circulation from working actions EUR 41.Zero (40.Eight) million Money and money equivalents at finish of interval 45.Four ( 56.Four) million EUR, lower of 19% The Board of Administrators proposes to the Common Assembly that the dividend of Zero.61 EUR per excellent share be paid out of the distributable profit. Market Growth and Enterprise Outlook for 2021 The COVID-19 pandemic will proceed to trigger important uncertainty in 2021. But the worldwide financial system is predicted to proceed to get well in 2021. The marketplace for high-end industrial devices is predicted to proceed to get well. get well from the 2020 weak point. Life The marketplace for the science and power industry is predicted to proceed to develop. The meteorology market in growing nations is predicted to proceed to endure from lack of funding and delay in resolution making, whereas demand in developed nations is predicted to stay secure. The aviation market has shrunk considerably in 2020 because of the international pandemic, and the market outlook stays dim, though some restoration is predicted. The land transport market is predicted to be secure. The renewable power market is predicted to proceed to develop. Vaisala estimates that its internet gross sales for the yr 2021 will probably be between 370 and 400 million euros and that its working profit (EBIT) will probably be between 30 and 45 million euros. # 39; euros. Key figures MEUR10-12 / 202010-12 / 2019Change1-12 / 20201-12 / 2019ChangeOrders obtained111.9103.38% 382.8419.Four-9% Order e-book137.8139.Zero-1% 137.8139.Zero-1% Turnover106. 9118.1-10% 379.5403 .6-6% Gross margin 59.766.2-10% 212.9221.2-Four% Gross margin,% 55.856.Zero 56.154.Eight Working bills48.Zero48.9-2% 169.2177.Three-5 % Working profit 12.217.7 44.841.1 Working profit,% 11.415.Zero 11.Eight 10.2 Revenue earlier than tax 11.216.5 41.340.2 Revenue for the interval Eight.615.1 32.833.6 Revenue per fairness Zero.240.41-43% Zero.910.94-2% Return on fairness,% 16.317.7 Investments 7. Zero10.5-34% 31.026.816% Depreciation and impairment 5.46.Zero-10% 21.123.5-10% Money circulation from working actions 24,323.15% 41,040,80% Money and money equivalents 45,456.Four-19% Curiosity bearing liabilities 57,Zero51,511% Gearing,% 5.7-2.Four Chairman and CEO of Vaisala, Kai Öistämö "Vaisala & # 39; s yr 2020 ended with robust quarterly order consumption. The demand for industrial measurement options and climate statement options has elevated considerably in comparison with the earlier three quarters. Demand progress for the Industrial Measurements enterprise phase was pushed by the pharmaceutical buyer phase, together with COVID-19 vaccine suppliers, and orders obtained elevated 11% from baseline. ;final yr. Along with the expansion of steady monitoring methods, the demand for energy industry functions and industrial devices has elevated. Within the Climate and Surroundings enterprise space, orders obtained elevated by 7% as a result of good demand within the meteorological buyer phase. Fourth quarter income was down 10% yr on yr as a result of weak orders obtained in Climate and Surroundings companies within the first 9 months. Internet gross sales from service actions decreased as we discontinued our valuation actions supplied for the renewable power sector. However, the Industrial Measurements enterprise phase returned to progress path with 10% internet gross sales progress in comparison with the earlier yr. Internet gross sales elevated in all areas, the strongest within the APAC area. Fourth quarter working earnings was decrease than the earlier yr stage as a result of decrease internet gross sales. In 2020, the flagship markets of the Industrial Measurements enterprise phase, high-end humidity and high-end carbon dioxide, in addition to liquid measurements had been most affected by the results of the pandemic. COVID-19 and the delay in buyer resolution making. Nevertheless, demand elevated within the second half of the yr and particularly the fourth quarter of the yr confirmed indicators of restoration. Inside the rising companies, the annual progress in steady monitoring methods has been good, significantly within the pharmaceutical buyer phase. The expansion of functions within the energy industry has accelerated. The demand for liquid measurement options has declined and the event of the enterprise has been disappointing. Collectively, these rising companies accounted for 1 / 4 of the industry’s internet gross sales. In 2020, deliveries of tasks within the Climate and Surroundings enterprise space went nicely regardless of delays within the implementation of some tasks attributable to the COVID-19 pandemic. Main tasks in progress accounted for 3 quarters of internet gross sales for the enterprise line tasks. Internet gross sales of the wind lidar enterprise are decrease than a yr earlier, as is your complete Climate and Surroundings enterprise phase. Internet gross sales of digital companies elevated, though we discontinued our valuation actions supplied for the renewable power phase. The refocus and reorganization helped the digital enterprise enhance profitability and hit the goal stage. In 2020, orders obtained and internet gross sales decreased in comparison with the earlier yr. The Climate and Surroundings division's order consumption has suffered so much because of the COVID-19 pandemic and its impression particularly on growing markets and the aviation market. Consequently, the online gross sales of the enterprise traces are decrease than the extent of the earlier yr. On the similar time, orders for the Industrial Measurements enterprise space elevated following improved demand within the second half of the yr. The restoration in demand helped the industry attain the extent of internet gross sales of the earlier yr. Regardless of the drop in supply volumes in 2020, gross margin and working profit improved. It is a nice end result that has allowed us to proceed investing in future capabilities equivalent to analysis and improvement, gross sales and advertising in addition to course of improvement. The working profit margin is 11.Eight%, which is near our long-term goal. I want to thank our workers, our companions and our prospects for his or her dedication, their flexibility and their adaptation to this distinctive scenario. Particular due to our operations and logistics folks, who made the wheels flip. All of the groups adopted distant working practices in just some days and so they continued to efficiently generate new concepts and initiatives for brand spanking new methods of working. The COVID-19 pandemic will proceed to trigger important uncertainty in 2021. But the worldwide financial system is predicted to develop in 2021. The economic devices market is predicted to get well in 2021. Local weather dependent prospects are extra blended. Particularly in growing nations and within the aviation market, prospects are anticipated to proceed to endure. We now have proven good resilience in a tough market atmosphere in 2020. This offers us a very good foundation to pursue our long run ambitions. »This autumn 2020 monetary evaluate Orders obtained and backlog 10-12 / 2020 10-12 / 2019 FX change * 2019 Orders obtained 111.9103.38% 11% 419.Four Order e-book, finish of interval 137.8139.Zero -1% 139.Zero * Change at comparable trade charges Fourth quarter 2020 orders obtained amounted to 111.9 (103.Three) million euros and elevated Eight% in comparison with the earlier quarter. final yr. Orders obtained elevated in each traces of enterprise. Within the Climate and Surroundings enterprise space, orders obtained elevated by 7%. Orders obtained elevated primarily in Latin America and Europe and decreased in North America and MEA. Orders obtained within the Industrial Measurements enterprise space elevated by 11% because of order progress in all areas and particularly within the Americas area and China. The expansion has been broad and has come from steady monitoring methods, energy industry functions, and industrial devices. On the finish of December 2020, the order e-book stood at 137.Eight (139.Zero) million euros and decreased by 1% in comparison with the earlier yr. Within the Climate and Surroundings enterprise space, the backlog decreased by 2%, primarily because of the weak point of orders obtained in MEA all year long in addition to the discount in scope and the worth of the contract in Argentina. The 13 million Euro meteorological infrastructure mission order with the Nationwide Meteorological Company in Ethiopia, introduced in October 2019, just isn’t included within the order e-book. The backlog of the Industrial Measurements enterprise phase elevated by 7% in comparison with the earlier yr following robust orders obtained through the fourth quarter and the rise was the best within the Americas area. 100.1 (101.Four) million euros of the order e-book is predicted to be delivered in 2021. Monetary efficiency MEUR10-12 / 202010-12 / 2019 Change FX ** 2019 Internet turnover106.9118.1- 10% -7% 403.6 Merchandise 77.280.Zero-Four% 278.5 Initiatives 15,723.2-32% 73.2 Companies 14.Zero 14.9-6% 51.9 Gross margin,% 55.856.Zero 54.Eight Working bills 48.Zero48 , 9-2% 177.Three R&D bills 14.613.67% 52.Eight% of turnover 13.711.5 13.1 Depreciation * 1.92.Four 9.6 Working profit 12.217.7 41.1 % of income 11,415.Zero 10.2 * Amortization of intangible belongings associated to acquired companies ** Change at comparable trade charges Internet income by area 10-12 / 202010-12 / 2019Change 2019America37, 843.5-13% 149.7APAC32.Zero34.Zero -6% 119.6EMEA37,140.6-9% 134.3Total106.9118.1-10% 403.6 Fourth quarter 2020 income decreased by 10% in comparison with the earlier yr and stood at 106.9 (118.1) million euros. The impression of foreign money conversion on income is unfavourable Three.2 million euros, evenly distributed throughout enterprise segments. Within the Climate and Surroundings enterprise space, income fell by 18%, primarily in mission and product actions. The drop in internet gross sales follows weak orders obtained through the yr and delays within the implementation of some tasks as a result of restrictions associated to the COVID-19 pandemic. The primary motive for the decline in internet gross sales from the service enterprise was the discontinuation of valuation companies supplied for the renewable power sector. Within the Industrial Measurements enterprise space, the turnover elevated by 10%. Internet gross sales elevated in all areas, with the strongest within the APAC area. The web gross sales progress was broad and got here from industrial devices, steady monitoring methods, and energy industry functions. The fourth quarter 2020 gross margin was 55.Eight (56.Zero)%. The working end result decreased in comparison with the earlier yr to 12.2 (17.7) million euros, 11.Four (15.Zero)% of gross sales internet because of the lower in internet gross sales. Working bills have decreased from the earlier yr as a result of restrictions imposed by the COVID-19 pandemic. However, investments in analysis and improvement, gross sales and advertising in addition to course of improvement have continued. Monetary earnings and bills for the fourth quarter of 2020 amounted to -1.2 (-1.Three) million euros. This primarily outcomes from the valuation of receivables denominated in USD. The profit earlier than tax quantities to 11.2 (16.5) million euros and the end result for the interval to eight.6 (15.1) million euros. Earnings per share had been Zero.24 EUR (Zero.41). Monetary evaluate January-December 2020 Orders obtained and order e-book MEUR1-12 / 20201-12 / 2019 FX variation * Orders obtained 382.8419.Four-9% -Eight% Order e-book, finish of interval 137.8139.Zero- 1% * Change at comparable trade charges January – Orders obtained in December 2020, amounting to € 382.Eight (419.Four) million, had been impacted by the worldwide financial slowdown attributable to the COVID-19 pandemic and had been down 9% from a robust comparability interval. Within the Climate and Surroundings enterprise space, orders obtained decreased as a result of lack of orders for main tasks. Orders obtained fell primarily within the aviation sector and considerably in floor transportation. The vast majority of the lower is from Latin America and the MEA. Orders obtained within the APAC area additionally declined. Orders obtained elevated in North America and Europe. Orders obtained within the Industrial Measurements enterprise space elevated by 2% as a result of improved demand within the second half of the yr and particularly within the fourth quarter of the yr. Orders obtained elevated within the Americas and APAC areas and remained secure within the EMEA zone. The rise in orders obtained comes from steady monitoring methods and energy industry functions, whereas the demand for liquid measurement options has declined. Orders obtained for industrial devices had been on the stage of the earlier yr. Monetary efficiency MEUR1-12 / 20201-12 / 2019 Change FX ** Turnover 379.5403.6-6% -5% Earnings267.3278.5-Four% Initiatives59.373.2-19% Companies52.951.92% Gross margin,% 56.154.Eight Working bills 169. 2177.Three-5% R&D bills 53.252.81 %% of gross sales 14.Zero13.1 Depreciation * 7.59.6 Working profit 44.841.1% of gross sales 11.810.2 * Depreciation of Intangible belongings associated to acquired companies ** Change at comparable trade charges Area turnover MEUR1-12 / 20201-12 / 2019ChangeAmericas134.9149.7-10% APAC110.4119.6-Eight% EMEA134.2134.Three-Zero% Whole 379. 5,403.6-6% Internet gross sales from January to December 2020 decreased by 6% in comparison with the earlier yr and had been EUR 379.5 (403.6) million. Operations exterior of Finland accounted for 97 (98)% of internet gross sales. The impression of foreign money conversion on income is unfavourable Three.Three million euros, evenly distributed throughout enterprise segments. Climate and Surroundings enterprise line income decreased 10% from the earlier yr as a result of decrease mission and product deliveries. Internet gross sales declined in all areas aside from Europe. Industrial Measurements enterprise phase internet gross sales elevated 1% because of the enhance within the APAC area, whereas internet gross sales in EMEA and Americas areas had been at year-year stage earlier. The expansion in internet gross sales got here primarily from steady monitoring methods and electrical industry functions, whereas internet gross sales of liquid measurement options declined. The gross margin from January to December 2020 improved to 56.1 (54.Eight)% because of the enchancment within the profitability of the digital companies of the Climate and Surroundings enterprise phase and the companies enterprise of the enterprise sector Industrial measurements. The working profit elevated in comparison with the earlier yr to 44.Eight (41.1) million euros, or 11.Eight (10.2)% of gross sales. Decrease internet gross sales lowered working earnings, however the improved gross margin partially offset the impression. Working bills decreased from the earlier yr as a result of restrictions imposed by COVID-19 and financial savings associated to the discontinuation of evaluation companies supplied to the industry. renewable energies. However, investments in analysis and improvement, gross sales and advertising in addition to course of improvement have continued. Amortization of intangible belongings, included in working bills, decreased by 2.2 million euros in comparison with the earlier yr. Different working earnings and bills improved working profit by 1.1 (-2.7) million euros. This included, amongst different issues, a price of 1.Four million euros associated to the discontinuation of the evaluation companies supplied for the renewable power sector and a optimistic impression of two.Zero million euros. euros, primarily because of the lower within the valuation of conditional issues associated to acquired companies as a result of up to date monetary plans. The comparability interval included, amongst different issues, prices associated to the refocusing and reorganization of Vaisala Digital, one-off bills associated to the termination of a lease, in addition to prices associated to the termination of a line. of merchandise. Monetary earnings and bills from January to December 2020 amounted to -Three.6 (-1.1) million euros. This primarily outcomes from the valuation of receivables and curiosity expense denominated in USD. Earnings taxes quantity to eight.5 (6.6) million euros and the efficient tax charge is 20.6 (16.Three)%. The efficient tax charge in 2019 was exceptionally low. The pre-tax profit amounted to 41.Three (40.2) million euros and the end result for the interval to 32.Eight (33.6) million euros. Earnings per share had been Zero.91 EUR (Zero.94). Assertion of Monetary Place, Money Flows and Funding Vaisala's monetary place remained robust between January and December 2020. Money and money equivalents decreased to 45.Four (56.Four) million; euros on the finish of December. The dividend fee amounted to 22.Zero (20.Eight) million euros. On the finish of December, the assertion of economic place stood at 351.Eight (361.5) million euros. In January-December 2020, money circulation from working actions remained on the stage of the earlier yr, amounting to 41.Zero (40.Eight) million euros. As of December 31, 2020, Vaisala had interest-bearing loans from monetary establishments totaling EUR 45.2 (40.2) million, of which EUR 40.Zero million associated to a time period mortgage and 5.Zero million. million EUR linked to the revolving credit score facility used. As well as, the curiosity bearing rental money owed quantity to EUR 11.9 (11.Three) million. Investments In January-December 2020, investments in intangible and tangible fastened belongings amounted to 31.Zero (26.Eight) million euros. The capital expenditures had been primarily associated to development tasks in Vantaa, Finland and Louisville, Colorado, United States, in addition to investments in equipment and tools to develop and keep the manufacturing and upkeep actions. service from Vaisala. The Louisville workplace constructing was finalized within the third quarter and the Vantaa R&D constructing within the fourth quarter. As of December 31, 2020, commitments associated to actual property tasks amounted to € Zero.Three (Eight.Eight) million. Depreciation and amortization amounted to 21.1 (23.5) million euros. This consists of 7.5 (9.6) million euros of amortization of recognized intangible belongings associated to acquired companies. Workers The common variety of staff employed in January-December 2020 was 1,911 (1,829). On the finish of December 2020, the variety of staff stood at 1,919 (1,837). 77 (74)% of staff had been situated within the EMEA zone, 15 (16)% within the Americas and 9 (9)% within the APAC area. 65 (62)% of the staff had been based mostly in Finland. Variety of staff by area Dec 31, 2020 Dec 31, 2019ChangeAmerica281297-16APAC166174-8EMEA (excl.Finland) 2302246Finland1,2421,142100Total1.919183782Variety of staff by perform Dec 31, 2020 Dec 31, 2019ChangeSales and Advertising and marketing467449407407Administration407446 In addition to gross sales and advertising, the variety of staff has elevated primarily in R&D and operations. About half of the rise in R&D was associated to the internalization of software program improvement. A lot of the rise in operations is said to product launches in addition to course of and system improvement. Within the Americas and APAC areas, the variety of staff decreased primarily because of the discontinuation of the evaluation companies supplied for the renewable power sector. In January-December 2020, personnel prices amounted to 154.1 (157.7) million euros. Inventory Incentive Plans The non-payment share problem permitted by the Vaisala Annual Common Assembly on April 10, 2018 doubled the overall variety of Collection Okay and A shares All inventory figures have been adjusted to replicate the rise within the variety of shares. Till the tip of 2017, the price of the share portion of share-based funds was the closing worth of the Collection A share of Vaisala on the date of the plan grant. Incentive, and the cash-settled portion of share-based funds was valued on the closing share worth. As of January 1, 2018, the price of the fairness portion in addition to the cash-settled portion of share-based funds correspond to the closing worth worth of the Collection A share of Vaisala on the date of buying and selling. allocation of the inducement plan minus discounted anticipated dividends. On December 16, 2015, the Board of Administrators resolved a share-based incentive plan for the important thing staff of the group based mostly on the evolution of the group's profitability throughout calendar yr 2016. The fee of the bonus corresponded to at 49% of most goal. On March 5, 2019, a complete of 88,452 Collection A shares of the Firm had been transferred for no consideration to the 30 key staff collaborating on this incentive plan. The rest of the reward was paid in money. The closing worth of the Collection A share of Vaisala was EUR 11.57 on the date the inducement plan was granted. A complete cost of this plan of two.Three million euros has been recorded for 2016-2019. On February 10, 2016, the Board of Administrators selected a stock-based incentive plan, during which the remuneration criterion was the continual employment of sure staff of the group for numerous years. # 39; years set. This share-based incentive plan led to March 2018, and the remaining award, corresponding to three,00Zero Vaisala Collection A shares, together with the money portion, was transferred with out consideration to key staff collaborating in it. incentive plan. A complete cost of this plan of Zero.Three million euros has been recorded for 2016-2018. The Board of Administrators of December 15, 2016 resolved for the group's key staff a share-based incentive plan based mostly on the evolution of the group's profitability through the 2017 calendar yr. 65% of most aim. On March Three, 2020, a complete of 118,950 Collection A shares of the Firm had been transferred with out consideration to 33 key staff collaborating on this incentive plan. The rest of the reward was paid in money. As well as, on June 28, 2019, a complete reward of 1,734 Vaisala Collection A shares was introduced for no consideration to a key worker who participated on this incentive plan and the opposite half of the reward was paid in money. . The closing worth of the Vaisala Collection A share was EUR 17.90 on the grant date of the inducement plan. A complete cost of this plan of Four.2 million euros has been recorded for 2017-2020. On February 7, 2018, the Board of Administrators determined for the group & # 39; s key staff a stock-based incentive plan based mostly on the evolution of the group & # 39; s profitability through the calendar yr 2018. The award will probably be paid partly in Vaisala Collection A shares and partly in money in Spring 2021. The money portion will cowl taxes and monetary prices arising from the award of a key worker. The utmost quantity of this plan was initially 320,00Zero Collection A shares and the reward payout will probably be 55% of the utmost aim. No award will probably be paid if the employment or service of a key worker ends earlier than the award fee date. The prices of this share-based incentive plan are acknowledged over the time period of the plan from April 2018 to March 2021. The closing worth of the Collection A share of Vaisala was 22.10 EUR on the date of allocation of the profit-sharing plan. As of December 31, 2020, this share-based incentive plan was open to 27 folks and the utmost reward payable is 166,200 Vaisala Collection A shares, together with the money portion. As of the grant date of October 1, 2020, a complete of Eight,00Zero Collection A shares have been granted to Kai Öistämö, President and CEO, and the profitable standards for these shares is uninterrupted service till ; on the date of fee. On June 28, 2019, a complete award of 461 Collection A shares of Vaisala was introduced for no consideration to a key worker who participated on this incentive plan and the opposite half of the award was paid in money. On February 12, 2019, the Board of Administrators resolved for roughly 45 key staff of the group an fairness incentive plan based mostly on the evolution of the overall return for shareholders (TSR) and profitability in 2019-2021. The award will probably be paid partly in Vaisala Collection A shares and partly in money in Spring 2022. The money portion will cowl taxes and monetary prices arising from the award to a key worker. The utmost quantity of this plan was initially 330,00Zero Collection A shares. No reward will probably be paid if the employment or service of a key worker ends earlier than the fee date of the reward. As well as, Vaisala's Board of Administrators requires the President and CEO and every member of the Administration Group to retain possession of the shares obtained beneath this plan till the worth of its curiosity in Vaisala is at the least its annual gross quantity. base wage. The prices of this share-based incentive plan are accrued over the time period of the plan from April 2019 to March 2022. The closing worth of the Collection A share of Vaisala was EUR 19.06 on the date of allocation of the profit-sharing plan. As of December 31, 2020, this inventory incentive plan was addressed to 44 folks. À la date d'attribution du 1er octobre 2020, un whole de 4000 actions de série A a été attribué à Kai Öistämö, président et chef de la course, et le critère de achieve pour ces actions est un service ininterrompu jusqu'à la date de paiement. Le 12 février 2020, le Conseil d'administration a résolu pour environ 45 collaborateurs clés du groupe un plan d'intéressement en actions basé sur l'évolution du rendement whole pour l'actionnaire (TSR) et de la rentabilité en 2020-2022. La récompense sera payée en partie en actions de série A de Vaisala et en partie en espèces au printemps 2023. La quote-part en espèces couvrira les impôts et les coûts fiscaux découlant de la récompense à un employé clé. Le montant maximal de ce régime correspondait à l'origine à 240 00Zero actions de série A. Aucune récompense ne sera versée si l'emploi ou le service d'un employé clé prend fin avant la date de paiement de la récompense. En outre, le conseil d'administration de Vaisala exige que le président et chef de la course et chaque membre du groupe de gestion conservent leur propriété des actions reçues dans le cadre de ce plan jusqu'à ce que la valeur de sa participation dans Vaisala corresponde au moins à son montant brut annuel. salaire de base. Les frais de ce plan d’intéressement en actions sont comptabilisés sur la durée du plan de mai 2020 à mars 2023. Le cours de clôture de l’motion série A de Vaisala était de 28,65 EUR à la date d’attribution du plan d’intéressement. Le 31 décembre 2020, ce plan d'intéressement fondé sur des actions était destiné à 48 personnes, dont un whole de 21 375 actions de série A destinées à Kai Öistämö, président et chef de la course, à la date d'attribution du 1er octobre 2020. Le 17 décembre 2020, le conseil d'administration a résolu pour environ 40 employés clés du groupe un plan d'intéressement fondé sur des actions basé sur l'évolution du rendement whole pour l'actionnaire (TSR) et de la rentabilité en 2021-2023. La récompense sera payée en partie en actions de série A de Vaisala et en partie en espèces au printemps 2024. La proportion en espèces couvrira les impôts et les coûts fiscaux découlant de la récompense à un employé clé. Le montant maximal de ce régime correspondait à l'origine à 180 00Zero actions de série A. Aucune récompense ne sera versée si l'emploi ou le service d'un employé clé prend fin avant la date de paiement de la récompense. En outre, le conseil d'administration de Vaisala exige que le président et chef de la course et chaque membre du groupe de gestion conservent leur propriété des actions reçues dans le cadre de ce plan jusqu'à ce que la valeur de sa participation dans Vaisala corresponde au moins à son montant brut annuel. salaire de base. Fees des plans d'intéressement en actions thousands and thousands d'euros 20162017201820192020 Plans d'intéressement en actions 20160.71.20.60.2 Plan d'intéressement en actions 2017 1.11.31.50.Three Plan d'intéressement en actions 2018 Zero.61.21.5 Plan d'intéressement en actions 2019 Zero.61.6 Plan d'intéressement en actions 2020 Zero.6 Revue du T4 et janvier-décembre 2020 par domaine d'activité Domaine d'activité Météo et Environnement 10-12 / 202010-12 / 2019 Changement FX ** 1-12 / 2020 1-12 / 2019 Changement FX ** Commandes reçues 70,866,27% 9% 236.9276.2-14% -14% Carnet de commandes, fin de période 119.8122.Three-2% 119.8122.Three-2% Chiffre d'affaires 67.Zero81.9-18% -16% 235.5261.Three-10% -9% Produits40.947.Zero-13 % 137.4149.Zero-Eight% Projets15.723.2-32% 59.373.2-19% Companies10.411.7-11% 38.839.1-1% Marge brute,% 51.552.7 51.049.9 Fees d'exploitation29.631.1-5% 106.3113. Zero-6% Dépenses de R&D 9,48,412% 34,134,00% du chiffre d'affaires,% 14,110,Three 14,513,Zero Amortissement * 1,52,Zero 5,86,9 Résultat opérationnel 5,212,1 14,617,7 du chiffre d'affaires,% 7,814,7 6,26,Eight * Amortissement des immobilisations incorporelles liées aux activités acquises ** Changement avec co Taux de change comparables Bilan du quatrième trimestre 2020 Les commandes reçues au quatrième trimestre 2020 de la division Météo et environnement ont augmenté de 7% par rapport à l'année précédente et se sont élevées à 70,Eight (66,2) thousands and thousands d'euros. Les commandes reçues ont augmenté principalement en Amérique latine et en Europe et ont diminué en Amérique du Nord et dans la MEA. A fin décembre 2020, le carnet de commandes de la division Météo et Environnement s’élève à 119,Eight (122,Three) thousands and thousands d’euros et diminue de 2% par rapport à l’année précédente. Le carnet de commandes a diminué principalement en raison de la faiblesse des commandes reçues en MEA tout au lengthy de l'année ainsi que de la réduction de la portée et de la valeur du contrat en Argentine. En revanche, le carnet de commandes a augmenté de 19% en Europe et est resté secure en Amérique du Nord. La commande de 13 thousands and thousands d'euros de projets d'infrastructure météorologique avec l'Agence nationale de météorologie en Éthiopie, annoncée en octobre 2019, n'est pas incluse dans le carnet de commandes. 83,6 (86,6) thousands and thousands d'euros du carnet de commandes devraient être livrés en 2021. Le chiffre d'affaires du quatrième trimestre 2020 de la division Météo et environnement s'est élevé à 67,Zero (81,9) thousands and thousands d'euros et a diminué de 18% par rapport à l'année précédente, principalement en projets et produits entreprises. La baisse des ventes nettes fait suite à la faiblesse des commandes reçues au cours de l'année et aux retards dans la mise en œuvre de certains projets en raison des restrictions liées à la pandémie COVID-19. La principale raison de la baisse des ventes nettes des activités de companies était l'arrêt des companies d'évaluation fournis pour le secteur des énergies renouvelables. La marge brute a diminué à 51,5 (52,7)% en raison du faible quantity de manufacturing. Le résultat opérationnel du quatrième trimestre 2020 du domaine d’activité Météo et Environnement a diminué par rapport à l’année précédente en raison du faible quantity de livraisons et s’est élevé à 5,2 (12,1) thousands and thousands d’euros, soit 7,Eight (14,7)% du chiffre d’affaires. Les fees d'exploitation ont diminué par rapport à l'année précédente en raison des restrictions imposées par la pandémie COVID-19 et des économies liées à l'arrêt des companies d'évaluation fournis pour le secteur des énergies renouvelables. En revanche, les investissements en recherche et développement se sont poursuivis. Les commandes de janvier-décembre 2020 de la division Météo et environnement reçues se sont élevées à 236,9 (276,2) thousands and thousands d'euros et ont diminué de 14% par rapport à une période de comparaison solide et en raison du manque de commandes de projets importants. Les commandes reçues ont diminué principalement dans le secteur de l'aviation et quelque peu dans le transport terrestre. La majorité de la diminution provient de l'Amérique latine et de la MEA. Les commandes reçues dans la région APAC ont également diminué. Les commandes reçues ont augmenté en Amérique du Nord et en Europe. Le chiffre d'affaires de janvier-décembre 2020 de la division Météo et environnement a diminué de 10% par rapport à l'année précédente en raison de la baisse des livraisons de projets et de produits et s'est établi à 235,5 (261,Three) thousands and thousands d'euros. Les ventes nettes ont diminué dans toutes les autres régions qu'en Europe. Les grands projets en cours représentaient les trois quarts des ventes nettes des projets du secteur d’activité. La marge brute était de 51,Zero (49,9)%. Rentabilité améliorée dans les companies numériques. Le résultat d’exploitation du secteur d’activité Météo et Environnement de janvier à décembre 2020 a diminué par rapport à l’année précédente et s’est élevé à 14,6 (17,7) thousands and thousands d’euros, soit 6,2 (6,Eight)% du chiffre d’affaires. La baisse du chiffre d'affaires internet a diminué le résultat d'exploitation, mais l'amélioration de la marge brute a partiellement compensé l'impression. Working bills decreased in comparison with earlier yr as a result of restrictions imposed by the COVID-19 pandemic and financial savings associated to discontinuation of evaluation companies supplied for renewable power phase. Amortization of intangible belongings, included in working bills, decreased by EUR 1.Zero million in comparison with earlier yr and improved working end result. Different working earnings and bills improved working end result. This included amongst others EUR 1.Four million price associated to discontinuation of evaluation companies supplied for renewable power phase and EUR 1.9 million optimistic impression primarily as valuation of contingent issues associated to acquired companies decreased because of up to date monetary plans. Industrial Measurements enterprise space MEUR10-12/202010-12/2019Change FX** 1-12/2020 1-12/2019 Change FX**Orders obtained41.137.111%14%146.Zero143.22%3percentOrder e-book, finish of interval18.Zero16.87% 18.Zero16.87% Internet gross sales39.936.310%14%143.9142.31%2% Merchandise36.333.Zero10% 129.9129.50% Services3.63.210% 14.112.810% Gross margin, %63.363.Eight 64.463.9 Working bills17.Zero17.7-Four% 61.563.Four-Three% R&D expenditure5.25.11% 19.218.82% of internet gross sales, %13.Zero14.2 13.313.2 Amortization*Zero.40.Four 1.72.Eight Working result8.35.5 31.626.1 of internet gross sales, %20.815.1 21.918.Four * Amortization of intangible belongings associated to the acquired companies** Change with comparable trade charges This autumn 2020 reviewIndustrial Measurements enterprise space’s fourth quarter 2020 orders obtained elevated by 11% in comparison with earlier yr totaling to EUR 41.1 (37.1) million. Orders obtained elevated in all areas and particularly in Americas area and China. Development was wide-ranging and got here from steady monitoring methods, energy industry functions, and industrial devices. On the finish of December 2020, Industrial Measurements enterprise space’s order e-book amounted to EUR 18.Zero (16.Eight) million and elevated by 7% in comparison with earlier yr following robust orders obtained through the fourth quarter and enhance was highest in Americas area. EUR 16.6 (14.Eight) million of the order e-book is scheduled to be delivered in 2021. Industrial Measurements enterprise space’s fourth quarter 2020 internet gross sales had been EUR 39.9 (36.Three) million and elevated by 10% in comparison with earlier yr. Internet gross sales elevated in all areas, strongest in APAC area. Internet gross sales progress was wide-ranging and got here from industrial devices, steady monitoring methods, and energy industry functions. Gross margin was 63.Three (63.Eight) %. Industrial Measurements enterprise space’s fourth quarter 2020 working end result elevated in comparison with earlier yr and totaled EUR Eight.Three (5.5) million, 20.Eight (15.1) % of internet gross sales. Internet gross sales progress elevated working end result. Working bills decreased in comparison with earlier yr as a result of restrictions imposed by the COVID-19 pandemic. January–December 2020 reviewIndustrial Measurements enterprise space’s January–December 2020 orders obtained elevated by 2% in comparison with earlier yr because of improved demand through the second half and particularly the fourth quarter of the yr and totaled EUR 146.Zero (143.2) million. Orders obtained elevated in Americas and APAC areas and had been flat in EMEA area. Improve in orders obtained got here from steady monitoring methods and energy industry functions, whereas demand for liquid measurements options decreased. Orders obtained for industrial devices had been at earlier yr’s stage.Industrial Measurements enterprise space’s January–December 2020 internet gross sales elevated by 1% in comparison with earlier yr and had been EUR 143.9 (142.Three) million. Internet gross sales elevated in APAC area, whereas internet gross sales in EMEA and Americas areas had been at earlier yr’s stage. Development in internet gross sales got here primarily from steady monitoring methods and energy industry functions, whereas internet gross sales of liquid measurements options decreased. Gross margin was on good stage at 64.Four (63.9) %. Industrial Measurements enterprise space’s January–December 2020 working end result improved from earlier yr and totaled EUR 31.6 (26.1) million, 21.9 (18.Four) % of internet gross sales. Internet gross sales progress and gross margin enchancment elevated working end result. Working bills decreased in comparison with earlier yr as a result of restrictions imposed by the COVID-19 pandemic. However, investments in analysis and improvement in addition to in gross sales and advertising continued. Amortization of intangible belongings, included in working bills, decreased by EUR 1.1 million in comparison with earlier yr. Comparability interval included EUR 1.5 million one-off expense associated to a lease contract termination. Impact of the COVID-19 pandemicThe international financial downturn attributable to the COVID-19 pandemic impacted particularly airports buyer phase and rising markets. Climate and Surroundings enterprise space missed bigger mission orders. Orders obtained decreased primarily in aviation phase and considerably in floor transportation. Orders obtained decreased essentially the most in Latin America and MEA in addition to in APAC. Industrial Measurements enterprise space didn’t meet progress targets for industrial devices and liquid measurements merchandise as a result of unstable market scenario. Despite the fact that orders obtained elevated in Americas and APAC areas, they didn’t meet progress targets, and in EMEA orders obtained remained flat. Vaisala estimates that because of weakening demand in addition to delays in some mission deliveries as a result of restrictions associated to the COVID-19 pandemic, misplaced orders obtained throughout January–December 2020 was within the vary of EUR 30–40 million and misplaced internet gross sales within the vary of EUR 25–35 million. Associated unfavourable impression on working end result was offset by improved gross margin and low working bills. Vaisala’s manufacturing and logistics have been operating easily because of profitable mitigation actions. Vaisala has intently cooperated with its strategic suppliers to make sure availability of parts. Stock ranges for most important parts had been rising through the first half of the yr however had been close to to regular ranges on the finish of December 2020. Subject service capabilities have been restricted as a result of journey restrictions and lockdowns and thus restricted entry to buyer websites. Regardless of the COVID-19 pandemic, Vaisala has uninterruptedly carried on R&D tasks in addition to core course of and system improvement to make sure progress of strategic tasks based on plans. Vaisala’s monetary place and money circulation remained robust regardless of EUR 31 million capital expenditure and EUR 22 million dividend funds in 2020. Gearing was 5.7% on the finish of December 2020. No materials modifications had been recognized in prospects’ fee conduct and credit score loss allowance remained on earlier yr’s stage. Technique and its implementation in 2020 In 2020, Vaisala continued to execute technique for 2019–2023. Fundamentals of worthwhile progress are dependable merchandise and options which might be based mostly on main applied sciences, carry out with very good high quality, create worth for our prospects and optimize whole price of possession. Industrial Measurements enterprise space drives worthwhile progress via product management technique in gasoline and liquid measurement applied sciences. Along with enterprise space’s flagship markets, high-end humidity and high-end carbon dioxide, progress is sought from liquid measurements, steady monitoring methods and energy industry functions. Goal is to exceed Vaisala’s common progress. Goal is to win by most dependable measurements, greatest buyer expertise, quick supply in addition to glorious gross sales and repair capabilities. In 2020, Industrial Measurements enterprise space’s flagship markets, high-end humidity and high-end carbon dioxide, in addition to liquid measurements had been most hit by penalties of the COVID-19 pandemic and prospects’ delayed resolution making. Nevertheless, demand elevated through the second half and particularly the fourth quarter of the yr gave indicators of restoration. Inside the progress companies, annual progress of steady monitoring methods was good particularly in pharmaceutical buyer phase. Development of energy industry functions accelerated, which elevated enterprise’ market share. Demand for liquid measurements options declined, and due to this fact, improvement of the enterprise was a disappointment. These progress companies collectively accounted for one fourth of the enterprise space’s internet gross sales. Industrial Measurements enterprise space launched Indigo520 transmitter for harsh industrial environments. This transmitter permits twin probe installations and permits enhanced knowledge visualization. Industrial Measurements enterprise space additionally launched a brand new high-performance probe HMP1 for humidity and temperature measurements in high-end services equivalent to knowledge facilities. This probe is suitable with any Vaisala Indigo sequence transmitters. With the Indigo200 sequence transmitter it kinds a single wall-mounted unit with no probe cable or probe holder. With the sturdy Indigo520 transmitter it gives flexibility to installations permitting optimum positioning of the probe. As well as, Industrial Measurement enterprise space launched Vaisala Jade Good Cloud, a distant measurement system permitting entry to high-quality measurement knowledge wherever: The info might be considered on the go; on a cellular gadget and on a laptop or laptop computer. The Jade Good Cloud is good for any structural moisture or ambient humidity pattern measurement want. Furthermore, Industrial Measurement enterprise space launched a way for detecting energy transformer air leaks. This correct and dependable technique, based mostly on measuring whole strain of all dissolved gases within the energy transformer insulation oil, will assist prospects detect and repaid any air leaks early. This will prolong the lifetime of a transformer and result in important price financial savings. The brand new measurement resolution will probably be made obtainable to the present prospects through a software program launch for Vaisala’s Optimus™ DGA Monitor OPT100. Climate and Surroundings enterprise space’s strategic intent is to stay undisputable international chief for climate observations. Enterprise space’s technique has 4 pillars: provide industry-leading merchandise for climate observations, try for excellence in massive system mission deliveries, develop digital options for chosen climate important operations, and develop into environmental measurements with city air high quality as spearhead. Goal is to win by focusing R&D in instrument and climate radar providing renewal, driving progress of wind lidar enterprise, and growing revolutionary digital options focused to clever transportation market. In 2020, Climate and Surroundings enterprise space’s mission deliveries proceeded nicely regardless of delays in some mission implementations attributable to the COVID-19 pandemic. On-going massive tasks represented three quarters of enterprise space’s mission internet gross sales. Internet gross sales of wind lidar enterprise fell wanting earlier yr’s stage, as did your complete Climate and Surroundings enterprise space. Through the second quarter, Vaisala determined to discontinue unprofitable evaluation consulting companies supplied for renewable power phase. This in addition to earlier refocus and reorganization, enabled digital enterprise to enhance its profitability considerably, whereas internet gross sales progress was marginal. Renewable power phase stays a strategic progress space for Vaisala as it is going to proceed to supply wind lidars and power forecasting companies to the phase to allow optimized operations and improvement actions. Climate and Surroundings enterprise space launched Vaisala Beacon, an easy-to-use compact climate station resolution that gives dependable measurements, knowledge assortment, connectivity, end-to-end security and knowledge visualization from the cloud in a single bundle. For the primary time, companies have the chance to implement out of the field the premier climate intelligence Vaisala is thought for, to make sure environment friendly and secure operations. For meteorologists, the providing amplifies via supplementary measurements their use of present reference-grade statement networks. Climate and Surroundings enterprise space introduced an improved model of its turbine nacelle mounted wind lidar, WindCube® Nacelle. It could possibly measure the wind circumstances at hub peak and has the unprecedented functionality to measure as much as 700 meters forward. The WindCube Nacelle’s extraordinary measurement vary and accuracy offers an entire image of the wind profile for any turbine rotor measurement. Climate and Surroundings enterprise space launched a very new product Wx Horizon focused to assist highway authorities of their climate important winter upkeep operations. Wx Horizon combines Vaisala’s industry-leading highway climate station and cellular sensors with world-class climate and highway floor state forecasting capabilities to ship well timed, correct winter highway situation intelligence to arm highway companies with the highway climate knowledge required to maintain roads secure. Climate and Surroundings enterprise space launched an improve to Vaisala’s World Lightning Dataset GLD360. Vaisala has utterly rebuilt the backend processing software program to find lightning strikes with an accuracy of 1 kilometer in comparison with 1.5–2.Zero kilometers earlier. When thought of that GLD360 sensors can detect lightning occasions over 10,00Zero kilometers away, it’s much more spectacular to pinpoint the placement inside such a small radius. Vaisala Operations manufactures merchandise for each enterprise areas and develops operational excellence in excessive combine low quantity provide chain via Vaisala Manufacturing System. Strategic applications are productiveness enchancment, early involvement to product creation, in addition to scouting and deploying newest sensible manufacturing unit applied sciences. In 2020, goal set for direct labor productiveness enchancment was not met as a result of decline in volumes. Supply functionality was strong through-out the yr. Operations participated in a number of product improvement tasks along with enterprise areas with a view to guarantee good producibility and well timed manufacturing ramp-up. Vaisala’s course of improvement centered on buyer dealing with processes. Answer creation and renewal of CPQ (Configure Value and Quote) in addition to eCommerce progressed nicely. Renewal of ERP resolution was initiated and centered on know-how choice. Lengthy-term monetary targets Vaisala’s long-term monetary targets are a median annual progress exceeding 5% and working profit margin (EBIT) exceeding 12%. Vaisala doesn’t think about the long-term monetary targets as market steerage for any given yr. Adjustments in Administration Group On June Three, 2020, Vaisala’s Board of Administrators appointed Kai Öistämö, b. 1964, as President and CEO. Öistämö began at Vaisala on October 1, 2020. Vaisala’s earlier President and CEO Kjell Forsén stepped down from his place and retired on the finish of 2020. On January 7, 2021, Olli Nastamo (b. 1956) was appointed Government Vice President, Operational Excellence. He will probably be a member of the Vaisala Administration Group and report back to President and CEO Kai Öistämö. Olli Nastamo will begin in his place on March 1, 2021. Annual Common Assembly 2020 Vaisala Company’s Annual Common Assembly was held on June Three, 2020. The assembly permitted the monetary statements and discharged the members of the Board of Administrators and the President and CEO from legal responsibility for the monetary interval January 1–December 31, 2019. Dividend The Annual Common Assembly determined a dividend of EUR Zero.61 per share. The file date for the dividend fee was June 5, 2020, and the fee date was June 12, 2020. Board of DirectorsThe Annual Common Assembly confirmed that the variety of Board members is eight. Petri Castrén, Petra Lundström, Jukka Rinnevaara, Kaarina Ståhlberg, Tuomas Syrjänen, Raimo Voipio and Ville Voipio will proceed as members of the Board of Administrators. Antti Jääskeläinen was elected as a brand new member of the Board of Administrators. The Annual Common Assembly confirmed that that the annual remuneration payable to the Chairman of the Board of Administrators is EUR 45,00Zero and every Board member EUR 35,00Zero per yr. Roughly 40% of the annual remuneration will probably be paid in Vaisala Company’s sequence A shares acquired from the market and the remaining in money. As well as, the Annual Common Assembly confirmed that the assembly charge for the Chairman of the Audit Committee can be EUR 1,500 per attended assembly and EUR 1,00Zero for every member of the Audit Committee and Chairman and every member of the Remuneration and HR Committee and another committee established by the Board of Administrators for a time period till the shut of the Annual Common Assembly in 2021. The assembly charges are paid in money. Potential journey bills are proposed to be reimbursed based on the journey coverage of the corporate. AuditorThe Annual Common Assembly re-elected Deloitte Oy because the auditor of the corporate and APA Reeta Virolainen will act because the auditor with the principal accountability. The auditors are reimbursed based on bill introduced to the corporate. Authorization for the directed repurchase of personal sequence A sharesThe Annual Common Assembly licensed the Board of Administrators to resolve on the directed repurchase of a most of 500,00Zero of the corporate's personal sequence A shares in a number of instalments by utilizing firm's unrestricted fairness. The authorization is legitimate till the closing of the following Annual Common Assembly, nevertheless, now not than December Three, 2021. Authorization on the issuance of the corporate's personal sequence A sharesThe Annual Common Assembly licensed the Board of Administrators to resolve on the issuance of a most of 937,Zero39 firm's personal sequence A shares. The issuance of personal shares could also be carried out in deviation from the shareholders' pre-emptive rights (directed problem). The authorization entitles the issuance of treasury sequence A shares as a directed problem with out fee as a part of the corporate's share-based incentive plan. The subscription worth of the shares can as a substitute of money even be paid in full or partially as contribution in variety. The authorization is legitimate till December Three, 2021. The authorization for the corporate's incentive program shall nevertheless be legitimate till June Three, 2024. The organizing assembly of the Board of Administrators At its organizing assembly held after the Annual Common Assembly the Board elected Raimo Voipio to proceed because the Chairman of the Board of Administrators and Ville Voipio because the Vice Chairman. Kaarina Ståhlberg was elected because the Chairman and Petri Castrén, Antti Jääskeläinen and Ville Voipio as members of the Audit Committee. Ville Voipio was elected because the Chairman and Petra Lundström and Jukka Rinnevaara as members of the Remuneration and HR Committee. The Chairman and all members of the Audit Committee in addition to the Remuneration and HR Committee are impartial each of the corporate and of serious shareholders. Shares and shareholders Share capital and sharesVaisala’s share capital totaled EUR 7,660,808 on December 31, 2020. Vaisala has 36,436,728 shares, of which 6,731,092 are sequence Okay shares and 29,705,636 sequence A shares. Through the third quarter, variety of sequence Okay shares decreased by 20,306 and variety of sequence A shares elevated by 20,306 because the Board of Administrators determined that 20,306 sequence Okay shares had been transformed to sequence A shares. This conversion was registered into the Commerce Register on July 31, 2020. The sequence Okay shares and sequence A shares are differentiated by the truth that every sequence Okay share entitles its proprietor to 20 votes at a Common Assembly of Shareholders whereas every sequence A share entitles its proprietor to 1 vote. The sequence A shares represented 81.5% of the overall variety of shares and 18.1% of the overall votes. The sequence Okay shares represented 18.5% of the overall variety of shares and 81.9% of the overall votes. Buying and selling and share worth developmentIn January–December 2020, a complete of three,852,297 sequence A shares with a worth totaling EUR 125.6 million had been traded on the Nasdaq Helsinki Ltd. Through the yr, the share worth elevated by 27% whereas OMXHCAPPI index elevated by 10%. The closing worth of the sequence A share on the Nasdaq Helsinki inventory trade was EUR 40.35. Shares registered a excessive of EUR 42.50 and a low of EUR 21.65. Quantity-weighted common share worth was EUR 32.58. The market worth of sequence A shares on December 31, 2020 was EUR 1,181.Zero million, excluding firm’s treasury shares. Valuing the sequence Okay shares – which aren’t traded on the inventory market – on the charge of the sequence A share’s closing worth on the final buying and selling day of December, the overall market worth of all of the sequence A and sequence Okay shares collectively was EUR 1,452.6 million, excluding firm’s treasury shares. Treasury sharesIn March 2020, a complete of 118,950 of treasury shares had been conveyed with out consideration to the 33 key staff collaborating within the Share-based incentive plan 2017 beneath the phrases and circumstances of the plan. This directed share problem was based mostly on an authorization given by the Annual Common Assembly held on March 26, 2019. Following this directed share problem, the variety of sequence A treasury shares on December 31, 2020 was 437,Zero39, which represents 1.5% of sequence A shares and 1.2% of whole shares. ShareholdersAt the tip of December 2020, Vaisala had 10,717 (9,481) registered shareholders. Possession exterior of Finland and nominee registrations represented 19.Three (17.5) % of the corporate's shares. Households owned 40.Three (40.6) %, non-public firms 13.Three (13.5) %, monetary and insurance coverage establishments 13.2 (13.7) %, non-profit organizations 10.Eight (11.Zero) % and public sector organizations Three.2 (Three.7) % of the shares. Shareholding by the Board of Administrators and the Administration GroupOn December 31, 2020, the Board of Administrators held and managed 985,646 (988,Zero83) sequence A shares. These shares accounted for Three.Three (Three.Three) % of sequence A shares and a couple of.7 (2.7) % of whole shares. The variety of sequence Okay shares held and managed by the Board was 551,008 (551,008). Whole votes hooked up to the sequence A and Okay shares held and managed by the Board had been 12,005,806 (12,008,243), which accounted for 7.Three (7.Three) % of the overall votes of all shares. On December 31, 2020, Kai Öistämö, the President and CEO, didn’t maintain nor management any sequence A or sequence Okay shares. Different Administration Group members held and managed 101,778 (82,178) sequence A shares however none sequence Okay shares. Extra details about Vaisala’s shares and shareholders are introduced on the corporate’s web site at vaisala.com/traders. Close to-term dangers and uncertainties COVID-19 pandemic’s impression on Vaisala’s enterprise is relying on the length and severity of this distinctive scenario. Vaisala’s supply functionality might deteriorate as a result of disruptions in suppliers’ operations, absence of personal manufacturing staff or disruptions in incoming and/or outgoing logistics. Demand might fluctuate materially by nation or buyer phase and prospects’ restoration from the distinctive scenario varies so much. Results of the pandemic on prospects’ money circulation might be important and result in credit score losses. Distinctive scenario might also trigger delays or interruptions in Vaisala’s operations, e.g. in mission deliveries and R&D. Uncertainties in worldwide commerce insurance policies or political scenario might cut back or delay demand for Vaisala’s services. Clients’ desire for native manufacturing might cut back demand for Vaisala’s services. Obstacles associated to market acceptance, gross sales channel improvement, or regulatory certification of recent services might postpone realization of Vaisala’s progress and profitability targets. Clients’ budgetary constraints, advanced decision-making processes, modifications in scope, and financing preparations might postpone closing of infrastructure contracts in Climate and Surroundings enterprise space. Cyber threat and downtime of IT methods might impression operations and supply of digital options. Measures taken to mitigate impacts of the COVID-19 pandemicEmployeesEnsuring staff’ wellbeing and their well being and security has been an important focus space through the COVID-19 pandemic. To implement containment actions and secure work atmosphere for manufacturing employees, entry to factories has been restricted. Distant working practices had been launched in all workplaces and workplace environments have been tailored to satisfy native suggestions and laws. CustomersEffective supply of services has been essential whereas buyer organizations have handled workers shortages, closures of workplaces and factories and well being safety measures. Distant buyer conferences, digital signatures, re-routing of shipments, distant acceptance testing and cooperation with native area service firms and their distant assist are examples of measures, which have been taken to satisfy buyer expectations. Provider relationships and cooperationVaisala has quite a few suppliers, know-how suppliers and outsourcing companions. Strategic suppliers, that are important to ongoing enterprise operations, have been assessed for his or her enterprise continuity and knowledge reliability. Buy orders, supply schedules and modifications in lead occasions have been assessed to make sure well timed receipt of parts. Stock ranges for most important parts had been elevated by two-three months availability. CommunicationsVaisala has communicated usually with a number of stakeholders: staff, prospects, suppliers and authorities. Goal has been to make sure clear and clear communication how Vaisala manages potential impacts of the COVID-19 pandemic, and to make sure continuity of core operations, together with assist and companies for patrons with out endangering staff, prospects and different stakeholders. Digital advertising efforts have been intensified to compensate for absence of standard advertising occasions. LiquidityVaisala’s monetary place and liquidity have been assessed. New time period mortgage settlement was negotiated with a view to present extra flexibility. Situation planningVaisala has finished state of affairs planning and contingency planning with a view to make sound selections in a extremely unstable working atmosphere. Vaisala has recognized dangers associated to supply functionality and demand outlook in addition to various challenges rising within the working atmosphere. Situation plans and associated assumptions have been repeatedly up to date and adopted up. Additional details about threat administration and dangers can be found on Annual Report and on the corporate web site at vaisala.com/traders. Board of Administrators’ proposal for dividend The mother or father firm’s distributable earnings quantity to EUR 172,498,369.07, of which the end result for the interval is EUR 23,477,939.71. The Board of Administrators proposes to the Annual Common Assembly that dividend of EUR Zero.61 per share be paid out of distributable earnings totaling roughly EUR 22.Zero million and the remaining to be carried ahead within the shareholders’ fairness. No dividend will probably be paid for treasury shares held by the corporate. There have been no important modifications within the firm’s monetary place for the reason that shut of the monetary interval. In accordance with the Board of Administrators, the proposed dividend distribution doesn’t endanger the corporate’s monetary standing. Annual Common Assembly 2021 Vaisala Company’s Annual Common Assembly will probably be held on Tuesday March 30, 2021. Board of Administrators of Vaisala has resolved on distinctive process for the assembly based mostly on the non permanent legislative act permitted by the Finnish Parliament on October 2, 2020. The corporate has resolved to take actions enabled by the act with a view to maintain the assembly in a predictable method, taking into consideration the well being and security of the corporate’s shareholders, personnel and different stakeholders. Shareholders can comply with the assembly through dwell webcast at Vaisala web site vaisala.com/agm. Monetary calendar 2021 Annual Report 2020, week 9Interim Report January–March 2021, April 29, 2021Half Yr Monetary Report 2021, July 23, 2021Interim Report January–September 2021, October 28, 2021 Vantaa, February 18, 2021 Vaisala CorporationBoard of Administrators The forward-looking statements on this launch are based mostly on the present expectations, identified components, selections and plans of Vaisala's administration. Though the administration believes that the expectations mirrored in these forward-looking statements are affordable, there isn’t any assurance that these expectations would show to be appropriate. Due to this fact, the outcomes might differ materially from these implied within the forward-looking statements, as a result of for instance modifications within the financial, market and aggressive environments, regulatory or different government-related modifications, or shifts in trade charges. Monetary info and modifications in accounting insurance policies This Monetary Assertion Launch has been ready in accordance with IAS 34 Interim Monetary Reporting, following the identical accounting insurance policies and ideas as within the annual monetary statements. All figures on this Monetary Statements Launch are group figures. All introduced figures have been rounded and consequently the sum of particular person figures might deviate from the sum introduced. The figures on this Monetary Assertion Launch are based mostly on Vaisala’s audited 2020 monetary statements. Preparation of Monetary Assertion Launch in accordance with IFRS requires Vaisala’s administration to make estimates and assumptions that have an effect on the valuation of the reported belongings and liabilities and the popularity of earnings and bills in assertion of earnings. Though estimates are based mostly on administration’s greatest data on the date of Monetary Assertion Launch, precise outcomes might differ from these estimates. The reporting of money flows from working actions within the consolidated money circulation assertion has been modified from the direct technique to the oblique technique as of January 1, 2020. The comparative info has been reported accordingly. New and amended IFRS requirements efficient for the yr 2020The next new or revised IFRSs have been adopted from January 1, 2020: Amendments to IFRS Three Definition of a businessAmendments to IAS 1 and IAS Eight Definition of materialAmendments to IFRS 9, IAS 39 and IFRS 7: Curiosity Charge Benchmark Reform The adoption of the modification to IFRS Three might have an effect on the group’s consolidated monetary statements in future intervals ought to such transactions come up. The adoption of the amendments to IAS 1 and IAS Eight in addition to to IFRS 9, IAS 39 and IFRS 7 just isn’t anticipated to have a cloth impression on the monetary statements of the group in future intervals. Consolidated assertion of earnings EUR million10-12/202010-12/20191-12/20201-12/2019 Internet gross sales106.9118.1379.5403.6 Price of products sold-47.2-51.9-166.6-182.4Gross profit59.766.2212.9221.2 Gross sales, advertising and administrative costs-33.Four-35.Three-116.Zero-124.5 Analysis and improvement costs-14.6-13.6-53.2-52.Eight Different working earnings and expenses0.50.41.1-2.7Operating end result12.217.744.841.1 Share of lead to related company0.20.10.20.1 Monetary earnings and expenses-1.2-1.Three-Three.6-1.1Result earlier than taxes11.216.541.340.2 Earnings taxes-2.7-1.5-Eight.5-6.6Result for the period8.615.132.833.6 Attributable to House owners of the mother or father company8.514.832.833.5Non-controlling interests0.10.30.00.1Result for the period8.615.132.833.6 Earnings per share for end result attributable to house owners of the mother or father firm Earnings per share, EUR0.240.410.910.94Diluted earnings per share, EUR0.230.410.910.93 Consolidated assertion of complete incomeEUR million10-12/202010-12/20191-12/20201-12/2019Gadgets that won’t be reclassifie d to profit or loss (internet of taxes) Actuarial profit (loss) on post-employment benefits0.00.20.00.2Total0.00.20.00.2 Gadgets which may be reclassified subsequently to profit or loss Translation differences-Zero.5-Zero.9-Four.00.5Total-Zero.5-Zero.9-Four.00.5 Whole different complete income-Zero.5-Zero.7-Four.00.7 Complete earnings for the period8.114.428.934.Three Attributable to House owners of the mother or father company8.Zero14.428.834.2Non-controlling interests0.10.30.00.1Comprehensive earnings for the period8.114.428.934.Three Consolidated assertion of economic positionEUR million AssetsDec 31,2020Dec 31, 2019 Non-current belongings Intangible belongings63.672.7 Property, plant and tools83.963.Four Proper-of-use belongings12.512.Three Investments in shares0.10.1 Funding in related company1.11.1 Non-current receivables0.90.9 Deferred tax assets7.39.8Total non-current belongings169.5160.Three Present belongings Inventories44.539.6 Commerce and different receivables64.Zero77.Three Contract belongings24.225.Zero Earnings tax receivables4.32.Eight Money and money equivalents45.456.4Total present belongings182.4201.1 Whole belongings351.8361.5 Fairness and liabilitiesDec 31,2020Dec 31, 2019 Fairness Share capital7.77.7 Different reserves5.67.Zero Translation differences-2.81.Three Treasury shares-6.Three-7.9 Retained earnings200.8190.0Total fairness attributable to the house owners of mother or father firm205.1198.Zero Non-controlling interests0.40.Three Whole fairness205.5198.Three Non-current liabilities Curiosity-bearing loans from monetary establishments40.Zero- Curiosity-bearing lease liabilities9.28.Three Publish-employment benefits2.32.Four Deferred tax liabilities7.78.1 Provisions0.10.1 Different non-current liabilities2.64.3Total non-current liabilities62.Zero23.Three Present liabilities Curiosity-bearing loans from monetary institutions5.240.2 Curiosity-bearing lease liabilities2.73.Zero Commerce and different payables52.364.5 Contract liabilities20.927.Three Earnings tax liabilities1.51.7 Provisions1.73.2Total present liabilities84.3139.Eight Whole liabilities146.2163.1 Whole fairness and liabilities351.8361.5 Consolidated money circulation assertion EUR million1-12/20 2 01-12/2019 End result for the interval32.833.6 Depreciation, amortization and impairment21.123.5 Monetary earnings and expenses3.61.1 Positive factors and losses on sale of intangible belongings and property, plant and equipment-Zero.1-Zero.Three Share of lead to related company-Zero.2-Zero.1 Earnings taxes8.56.6 Different adjustments-5.61.6 Inventories, enhance (-) / lower (+)-1.Eight-7.5 Non-interest-bearing receivables, enhance (-) / lower (+)12.6-7.Eight Non-interest-bearing liabilities, enhance (+) / lower (-)-18.41.5 Adjustments in working capital-7.5-13.9 Monetary objects paid-Three.5-2.Three Earnings taxes paid-Eight.2-9.0Cash circulation from working actions41.040.Eight Acquisition of subsidiaries, internet of money acquired-Zero.2-7.Three Capital expenditure on intangible belongings and property, plant and equipment-31.Zero-26.Eight Proceeds from sale of intangible belongings and property, plant and equipment0.10.5 Proceeds from sale of shares0.1-Money circulation from investing activities-31.Zero-33.6 Dividends paid-22.Zero-20.Eight Change in mortgage receivables0.10.1 Proceeds fr om borrowings100.180.Zero Compensation of borrowings-95.Zero-80.5 Principal funds of lease liabilities-Three.Three-Four.1Cash circulation from financing activities-20.Zero-25.Four Change in money and money equivalents enhance (+) / lower (-)-10.Zero-18.1 Money and money equivalents at the start of interval56.472.7 Change in money and money equivalents-10.Zero-18.1 Switch of money and money equivalents labeled as belongings held on the market to persevering with operations-1.1 Impact from modifications in trade rates-1.00.7Cash and money equivalents on the finish of interval45.456.Four Consolidated assertion of modifications in equityEUR millionShare capitalOther reservesTranslation differencesTreasury sharesRetained earningsEquity attributable to house owners of the mother or father companyNon-controlling interestsTotal Fairness at Dec 31, 20187.76.10.Eight-9.0177.3182.9 182.9 End result for the interval 33.533.50.133.6Other complete earnings Zero.00.5 Zero.20.7 Zero.7Dividend distribution -20.Eight-20.Eight -20.8Share-based funds Zero.Eight 1.1 1.9 1.9Transfer between objects Zero.Zero -Zero.00.Zero Zero.0Chang es in non-controlling curiosity that didn’t lead to modifications in management -Zero.2-Zero.20.20.0Equity at Dec 31, 20197.77.01.Three-7.9190.0198.00.3198.Three EUR millionShare capitalOther reservesTranslation differencesTreasury sharesRetained earningsEquity attributable to house owners of the mother or father companyNon-controlling interestsTotal Fairness at Dec 31, 20197.77.01.Three-7.9190.0198.00.3198.Three End result for the interval 32.832.80.Zero32.8Other complete earnings -Zero.Zero-Four.Zero Zero.Zero-Four.Zero -Four.0Dividend distribution -22.Zero-22.Zero -22.0Share-based funds -1.Four 1.6 Zero.2 Zero.2Transfer between objects Zero.Zero -Zero.00.Zero Zero.0Changes in non-controlling pursuits that didn’t lead to modifications in management -Zero.Zero-Zero.00.00.0Equity at Dec 31, 20207.75.6-2.Eight-6.3200.8205.10.4205.5 Notes to the discharge Orders obtained by enterprise space EUR million10-12/202010-12/20191-12/20201-12/2019Climate and Surroundings70.866.2236.9276.2Industrial Measurements41.137.1146.Zero143.2Total111.9103.3382.8419.Four Internet gross sales by enterprise space EUR million10-12/202010-12/20191-12/20201-12/2 01 9Weather and Surroundings Merchandise40.947.Zero137.4149.Zero Initiatives15.723.259.373.2 Companies10.411.738.839.1Total67.Zero81.9235.5261.Three Industrial Measurements Merchandise36.333.Zero129.9129.5 Services3.63.214.112.8Total39.936.3143.9142.Three Whole internet gross sales106.9118.1379.5403.6 Working end result by enterprise space EUR million10-12/202010-12/20191-12/20201-12/2019Climate and Environment5.212.114.617.7Industrial Measurements8.35.531.626.1Other-1.30.1-1.Four-2.7Total12.217.744.841.1 Internet gross sales by area EUR million10-12/202010-12/20191-12/20201-12/2019Americas37.843.5134.9149.7APAC32.Zero34.Zero110.4119.6EMEA37.140.6134.2134.3Total106.9118.1379.5403.6 Timing of income recognition EUR million10-12/202010-12/20191-12/20201-12/2019Efficiency obligations happy at a cut-off date84.388.4295.5308.6Performance obligations happy over time22.629.784.095.0Total106.9118.1379.5403.6 Personnel 10-12/202010-12/20191-12/20201-12/2019Common personnel1,9191,8341,9111,829Personnel on the finish of period1,9191,8371,9191,837 Deri vat ive monetary devices EUR million Dec 31, 2020Dec 31,2019Nominal worth of by-product monetary contracts 31.433.Eight Truthful values of by-product monetary contracts, belongings 1.20.3Fair values of by-product monetary contracts, liabilities Zero.20.Four Spinoff monetary devices consist solely of overseas trade ahead contracts and they’re measured based mostly on worth info derived from lively markets and generally used valuation strategies (Truthful worth hierarchy 2). Spinoff monetary contracts are executed solely with counterparties which have excessive credit score scores. Share info EUR/thousand10-12/202010-12/20191-12/20201-12/2019Variety of shares excellent36,00Zero35,88136,00Zero35,881Variety of treasury shares437556437556Variety of shares, weighted common, diluted36,21036,16436,22336,133Variety of shares, weighted common36,00Zero35,88135,97935,864Variety of shares traded9191,5603,8523,442Share worth, highest42.5032.8042.5032.80Share worth, lowest34.2524.2021.6515.95 Key ratios EUR10-12/202010-12/20191-12/20201-12/2019Earnings per share0.240.410.910.94Diluted earnings per share0.230.410.910.93Fairness per share 5.705.52Return on fairness, % 16.317.7Cash circulation from working actions per share0.670.641.141.14Solvency ratio, % 59.Zero55.7Gearing, % 5.7-2.Four Key trade charges Common charges Interval finish charges 1-12/20201-12/2019Dec 31,2020Dec 31, 2019USD1.13841.12131.22711.1234CNY7.88077.72828.02257.8205JPY121.51122.29126.49121.94GBP0.88530.87950.89900.8508 Additional informationKaarina Muurinen, CFOTel. +358 40 577 5066Vaisala Company Convention callAn English-language convention name for analysts, traders and media will probably be held at this time on February 19, 2021, beginning at 11:00 a.m. (Finnish time). Numbers for convention name, throughout which questions could also be introduced, are: Finland: +358 9 8171 0310UK: +44 33 3300 0804Sweden: +46 Eight 5664 2651US: +1 63 1913 1422 PIN: 19622715# AudiocastThe presentation by Kai Öistämö, President and CEO, may also be adopted via a dwell audiocast at vaisala.com/traders beginning at 11:00 a.m. A recording will probably be revealed on the similar tackle by 1:00 p.m. DistributionNasdaq HelsinkiKey mediavaisala.com Vaisala is a world chief in environmental and industrial measurement. Constructing on over 80 years of expertise, Vaisala offers observations for a greater world. We’re a dependable companion for patrons world wide, providing a complete vary of revolutionary statement and measurement services. Headquartered in Finland, Vaisala employs over 1,900 professionals worldwide and is listed on the Nasdaq Helsinki inventory trade. vaisala.com twitter.com/VaisalaGroup Attachment Monetary Assertion Launch 2020 EN

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