Thursday, July 21, 2011

Wartsila orders increase

Finnish ship engine maker Wartsila announced its second quarter order intake grew by 5% to EUR 1,170 million.

Q2 net sales decreased 8% to EUR 1,036 million, and operating result was EUR 117 million, or 11.3% of net sales.

During the first half semester of 2011, the company won new orders worth EUR 2,149 million, an increase of 8%.

H1 net sales increased 3% to EUR 2,119 million with operating result increasing to EUR 230 million or 10.9% of net sales.

At the end of June the orderbook totalled EUR 3,779 million, down 12% against a year ago.

Ole Johansson, President and CEO said, “The second quarter was good in terms of ordering activity and profitability. While net sales decreased somewhat, the solid order intake paves the way ahead. For the first time since 2008, we booked more new orders than we billed for.

In Ship Power there is positive development in various LNG fuelled vessel markets. Power Plants also received major orders in new markets for gas-based solutions and our “Smart Power Generation” -concept is being recognised. The Services business was stable.

The growth of the global economy appears at risk of slowing down, which may impact decision making for new investments. It may also affect the utilisation of the existing marine fleet.

Due to this uncertainty, as well as the timing of power plant deliveries, we have revised our net sales expectation to a slight decline compared to last year. Our profitability is expected to remain on the guided level.”

Published : July 21, 2011

Source: Asiasis


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