Niina Ala-Luopa
Head of Investor Relations

Hello, and welcome to Vaisala's First Quarter Audiocast and Conference Call. I'm Niina Ala-Luopa from Vaisala's Investor Relations. And today here with me are President and CEO, Kai Oistamo; and CFO, Heli Lindfors. First, Kai and Heli will present Vaisala's first quarter key highlights and financials, and then we will continue with Q&A. So let's start, Kai.

Kai Öistämö
President & CEO

Thank you, Niina, and welcome, everybody, from my side. This is Kai Oistamo. So when we look at the first quarter, for Vaisala, I would characterize it this way, that it was a very good strong start of the year, especially driven by Industrial Measurements driving the results. So if we start from net sales, in constant currency, the net sales growth for the company was 7% in reported currency that converts to 1% and orders received similarly if we take the constant currency first, it's 10% growth year-on-year and in reported currency, 5%.

When you interpret the results this time, actually, the difference, as you can notice, between the reported currency and the constant currency are particularly big, remembering that a year ago, first quarter, euro and dollar and renminbi, if I take the dollar as an example, was in parity, whereas when we look at today or during the first quarter, the euro-dollar rate was $1.17, $1.18, so a significant difference between the 2. We expect this to obviously -- difference start to get smaller now during the