Wärtsilä Report Steady Development in First Half 2012

Press Release
Wednesday, July 18, 2012

Wärtsilä report steady business progress in its interim report for the period January to June 2012

Extracts from the company's report follow:

The second quarter marked steady progress for Wärtsilä. Our net sales grew by 6% and our profitability was 10.3%. We continue to work towards reaching our growth and profitability targets this year. I am pleased with the good development within Ship Power’s specialised vessel segments, which compensated for Power Plants’ slightly weaker second quarter order intake. Ship Power also received interesting pump, gas and environmental system orders. Services development remained rather steady, despite the tough market conditions in the merchant vessel markets.

Highlights of the review period January to June 2012

  • Order intake increased 7% to EUR 2,308 million (2,149)

  • Net sales decreased 1% to EUR 2,104 million (2,119)

  • Operating result EUR 215 million, or 10.2% of net sales (EUR 230 million and 10.9%)

  • At the end of the period the order book totalled EUR 4,515 million (3,779), +19%

  • Earnings per share amounted to 0.72 euro (0.73)
  • 
Cash flow from operating activities EUR -154 million (84)

The outlook for overall vessel contracting activity during 2012 is slightly negative, with full year contracting expected to be somewhat lower than contracting during 2011.

The decrease is largely driven by the low contracting levels in traditional merchant segments. Robust contracting activity, in line with activity levels seen during 2011 and so far in 2012, is expected for the offshore, gas carrier, and other specialised vessel markets.

Interesting opportunities are seen in the following areas: efficiency improvement, gas as a fuel, and environmental solutions. These are now central issues in many newbuilding discussions and are expected to grow in importance going forward.

Wärtsilä expects its net sales for 2012 to grow by 5-10% and its operational profitability (EBIT% before non-recurring items) to be 10-11%.


 

 

Maritime Reporter June 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

New ICTF Boosts Crowley’s Efficiency

The opening of Florida East Coast Railway’s (FEC) new, state-of-the-art intermodal container transfer facility (ICTF) adjacent to Crowley Maritime Corporation’s Port Everglades, Fla.

Training Builds Support for Sennebogen Customers

When Sennebogen LLC opened its new headquarters in Stanley, N.C., in 2009, the facility was equipped with one of America’s premier OEM Training Centers for heavy equipment.

Ireland Ratifies the MLC

Ireland’s Minister for Transport, Tourism and Sport, Paschal Donohoe TD and the Minister for Jobs, Enterprise and Innovation, Richard Bruton TD, today announced

Finance

Pier Damaged at Port Canaveral

Undergoing Repairs While Coast Guard Investigates   The U.S. Coast Guard is investigating a weekend incident that caused pier damage and scattered concrete debris in the harbor on Sunday.

APM Terminals to Sell Container Terminal in Virginia

Port operator APM Terminals, a unit of Denmark's A.P. Moller-Maersk, said it would sell a big U.S. container terminal to infrastructure investor Alinda Capital

Scorpio Bulkers Gets $540m Loan for Newbuilds

Scorpio Bulkers Inc. announced that it has received a commitment for a $540 million loan facility and provides an update on the financing of its fleet. On July 21,

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Maritime Standards Offshore Oil Salvage 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: 0.2932 sec (3 req/sec)