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 January 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Gofree Available on B&G® Zeus2 & Zeus2 Glass Helm

B&G® announced today the availability of the newly launched GoFreeTM wireless, cloud-enabled features on its full line of Zeus2 and Zeus2 Glass Helm multifunction displays.

USCG Monitors Cargo Vessel Near Welch island Ore.

The Coast Guard is monitoring a vessel that lost propulsion and briefly grounded in the vicinity of Welch Island, Wednesday. The crew of the 738-foot bulk

GOST® to Unveil New Products at MSE Conference

GOST® (Global Ocean Security Technologies),announced today that it will highlight its newest commercial maritime products at the 2015 Maritime Security East conference in Jacksonville,

Finance

General Dynamics Board Increases Dividend

The board of directors of General Dynamics today declared a regular quarterly dividend of 69 cents per share on the company's common stock, payable May 8, 2015,

Ensco Announces Cash Tender Offer

Ensco plc announced today that it has commenced a cash tender offer to purchase any and all of its outstanding 3.25% Senior Notes due 2016 (CUSIP No. 29358QAB5).

Egypt on a War Footing to Expand Suez Canal

The Suez Canal Authority is in a race to quickly expand the vital waterway for two-way traffic by August 2015, says an Associate Press report. Workers dig round the clock on Suez Canal expansion,

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Naval Architecture Pod Propulsion Port Authority Salvage Ship Repair Ship Simulators Shipbuilding / Vessel Construction Sonar
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: 0.1516 sec (7 req/sec)