Wärtsilä’s Third Quarter Order Intake Up

Image Courtesy: Wärtsilä

Finnish technology group Wärtsilä said that its performance in the third quarter “was satisfactory” as the company reported a rise of 19% in its order intake for the period.

While the company ended the quarter with an order intake of EUR 1.35 billion, up from EUR 1.13 billion reported in the same period a year earlier, its net sales increased by 9% to EUR 1.17 billion from EUR 1.07 billion in the corresponding periods.

For the nine-month period ended September 30 Wärtsilä’s order intake was up by 15% to EUR 4.13 billion from EUR 3.6 billion seen in the first nine months of 2016. Net sales for the same period increased 7% to EUR 3.47 billion from EUR 3.24 billion.

“I am pleased with the continued growth in order intake. In addition to good demand for our power generation solutions, we received an order to build our third LNG terminal in Finland, which will be located in Hamina. The project will provide cleaner fuel for both marine transport applications and local industry,” Jaakko Eskola, President & CEO, said.

“A favourable contracting mix in the marine markets supported order intake growth in Marine Solutions,” according to Eskola.

He added that the high level of activity in the cruise segment over the past few years “has lengthened delivery times for both yards and equipment suppliers,” while the continued demand for long-term service agreements resulted in order intake growth also for Services.

The company’s total order book at the end of the review period was stable at EUR 5.07 billion, compared to EUR 5.02 billion seen a year earlier. The Services order book totalled EUR 1.19 billion, surging by 16% from the same period last year due to increased demand for long-term service agreements. The Energy Solutions order book increased by 10%, while the Marine Solutions order book decreased by 12%.

Wärtsilä’s third quarter operating result was EUR 130 million, against EUR 122 million seen in 2016. For the review period January-September 2017 the operating result was EUR 327 million, rising from EUR 301 million.

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