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 Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter February 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

SunEdison Restrained from 'Unusual' Asset Transfers

Solar company SunEdison Inc said a U.S. court has restrained the company from making any unusual asset transfers until a hearing in a lawsuit brought on by investors

Maersk to Scrap Ships at India's Alang Beaches, NGO Dismayed

Maersk Line said on Friday it had chosen four shipbreaking yards along India's Alang beaches to handle an increase in vessels that need to be scrapped, to the dismay

Teknotherm Marine Moves HVAC Arm to Bergen

Maritime heating, ventilation and air conditioning (HVAC) firm Teknotherm Marine has established a new subsidiary is established with the name Teknotherm Marine HVAC AS.

Marine Propulsion

Cummins Expands Marine Tier 3 Product Line

Cummins Inc., a manufacturer of diesel engines and generator sets for the marine industry, has launched a new Onan marine U.S. Environmental Protection Agency (EPA) Tier 3-certified generator,

James Troop Supplies Engines for 3 Naval Vessels

Liverpool City Region (UK) based ship engine specialist James Troop & Co has won an order to supply Volvo Penta diesel engines for three European naval vessels being built on Merseyside.

The Next Generation of Hull Performance Management

Hull performance monitoring solutions can offer significant fuel savings potential, a fact that is prompting growing interest from the maritime industry. To spur

Finance

SunEdison Restrained from 'Unusual' Asset Transfers

Solar company SunEdison Inc said a U.S. court has restrained the company from making any unusual asset transfers until a hearing in a lawsuit brought on by investors

Paragon Offshore to File for Bankruptcy

Paragon Offshore Plc said it will file for Chapter 11 bankruptcy on or before Feb. 14, becoming the first U.S. energy-related company to seek court protection from

Philippines Mulls Bilateral Sea Talks with China

The Philippines may consider two-way talks with China to resolve a territorial dispute in the South China Sea but only if it wins its case with Beijing at an arbitration tribunal in The Hague,

Marine Power

Cummins Expands Marine Tier 3 Product Line

Cummins Inc., a manufacturer of diesel engines and generator sets for the marine industry, has launched a new Onan marine U.S. Environmental Protection Agency (EPA) Tier 3-certified generator,

James Troop Supplies Engines for 3 Naval Vessels

Liverpool City Region (UK) based ship engine specialist James Troop & Co has won an order to supply Volvo Penta diesel engines for three European naval vessels being built on Merseyside.

Honda Marine on Display at Miami Boat Show

Honda Marine is set to market its complete range of outboard marine four-stroke engines at the 2016 Miami International Boat Show, February 11-15, 2016.   At this year’s show,

 
 
Maritime Contracts Maritime Security Maritime Standards Naval Architecture Navigation Salvage Ship Electronics Ship Repair Shipbuilding / Vessel Construction Sonar
rss | archive | history | articles | privacy | 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: 0.1110 sec (9 req/sec)