Wärtsilä Profitable in Challenging Q3 2013 Market

MarineLink.com
Thursday, October 24, 2013
Manufacturing Technology Center, Vaasa: Photo courtesy of Wärtsilä

"Our operations developed in line with our expectations during the third quarter. Net sales grew by 11% to EUR 1,209 million and profitability was 11.4%. With better visibility on net sales development, we specify our sales growth guidance to 0-5%, while our profitability estimate remains unchanged at around 11%," commented Björn Rosengren, President and CEO.

Third Quarter Highlights
- Order intake decreased 14% to EUR 1,097 million (1,275)
- Net sales increased 11% to EUR 1,209 million (1,087)
- Book-to-bill 0.91 (1.17)
- Operating result before non-recurring items EUR 138 million, or 11.4% of net sales (EUR 113 million or 10.4%)
- EBITA EUR 146 million, or 12.1% of net sales (EUR 122 million or 11.2%)
- Earnings per share EUR 0.48 (0.38)
- Cash flow from operating activities EUR 139 million (121)

Rosengren continued: "Uncertainties in the global economy and fluctuations in emerging market currencies have caused power plant customers to delay decision-making, which has impacted our overall order intake development. In the marine markets, we see good activity across all the main vessel segments. The focus on fuel efficiency and competitive newbuilding prices are supporting investments in the merchant segment, while offshore markets remain active. Services net sales development was steady, which reflects the overall stability of the service market. Wärtsilä signed several long-term service agreements during the quarter, and we see further opportunities in this area."

Market Outlook
Our outlook for the shipping and shipbuilding market in 2013 has improved. The lively ordering of product tankers, large containerships and gas carriers is expected to continue during the rest of the year. Furthermore, the offshore sector is expected to remain active, although with a different contracting mix that favours mobile drilling units and FPSOs more.

Current emission regulations and the focus on fuel efficiency create interesting opportunities in gas fuelled vessels and environmental solutions. Financing is expected to remain difficult, but some signs of easing can be seen across the industry. Overall, the contracting mix is expected to be more balanced than in 2012, with activity in all major vessel segments.

The complete report is available at: http://www.wartsilareports.com/en-US/2013/q3/frontpage/
 

Maritime Reporter August 2013 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Kurdish Crude Oil Tankships: End-Game Still in Doubt

After a legal show-down in Texas this week, the outlook for a handful of tankers holding some $300 million worth of Kurdish oil is not looking good. Seemingly

Greek Warship Evacuates Libya Personnel

Greece safely evacuated embassy staff and more than one hundred Chinese and European nationals from Libya early on Friday with a navy frigate sailing back to the Greek port of Piraeus,

Children’s Day at Gazprom Transgaz Saratov

On May 31 and June 1, 2014 . Over two thousand children from the Saratov, Tambov and Penza Regions took part in sports competitions, environmental quizzes and

Marine Propulsion

Rolls-Royce Appoints Ruth Cairnie as Non-Executive Director

Rolls-Royce is pleased to announce that Ruth Cairnie has been appointed as a Non-Executive Director of the Company with effect from 1 September 2014. Ruth

WEG to Showcase Drive Solutions at SMM

WEG, a global supplier of drive systems, will showcase its range of systems for the shipbuilding and offshore industry at this year’s SMM (Shipbuilding, Machinery & Marine Technology Fair) in Hamburg.

Scottish Sea Farms Takes New Vessel Delivery

Scottish Salmon Farms has taken delivery of its latest vessel – powered by twin Doosan V158TIH main engines supplied by WaterMota.   Designed by consultant naval

Finance

1H 2014 Profits of Port of Tallinn Up 16%

Port of Tallinn earned an unaudited half-year net profit of 20.2 million euros with company’s turnover reaching 59 million euros. Compared to last year the turnover

Geo-Science Provider TGS Reports Strong Half 2014 Results

TGS reports net revenues of USD 205 million in Q2 2014, compared to USD 210 million in Q2 2013. Earnings before interest and taxes (EBIT) totaled USD 82 million,

Matson Reports Solid Q2 2014 Results, Dividend Increased

Leading U.S. carrier in the PacificMatson, Inc. reported net income of $18.1 million or $0.42 per diluted share for the quarter ended June 30, 2014, compared with $20.

Marine Power

Korea Shipbuilder Wins US$400-M Greek Order

Daewoo Shipbuilding & Marine Engineering Co., South Korea’s second-largest shipbuilder, says it has signed a contract to build 4 tankships for Maran Tankers Management,

Rolls Royce Marine Awarded LCS Engine Repair Contract

U.S. Department of Defense informs that Rolls Royce Marine North America, Walpole, Massachusetts, is being awarded a US$9,000,000 firm-fixed-price repair order

WEG to Showcase Drive Solutions at SMM

WEG, a global supplier of drive systems, will showcase its range of systems for the shipbuilding and offshore industry at this year’s SMM (Shipbuilding, Machinery & Marine Technology Fair) in Hamburg.

 
 
Maritime Contracts Maritime Security Maritime Standards Pipelines Salvage Ship Electronics Ship Repair Shipbuilding / Vessel Construction Sonar Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1650 sec (6 req/sec)