Wärtsilä Interim Financial Report

Press Release
Wednesday, October 17, 2012

Wärtsilä Corporation report January to September 2012 indicates growth in orders & net sales despite tough markets.

Highlights of the review period Jan – Sept 2012.

  • Order intake increased 10% to EUR 3,583 million (3,267)

  • Net sales increased 7% to EUR 3,191 million (2,970)
  • 
Operating result (EBIT) EUR 328 million or 10.3% of net sales (EUR 324 million or 10.9%)

  • EBITA EUR 354 million or 11.1% of net sales (EUR 336 million or 11.3%)
  • 
At the end of the period the order book totalled EUR 4,724 million (4,042), an increase of 17%
- Earnings per share amounted to 1.09 euro (0.99)

  • Cash flow from operating activities EUR -34 million (303)

BJÖRN ROSENGREN, PRESIDENT AND CEO:

“Despite the continuing uncertainty in the global economy and the tough market conditions, both our order intake and net sales developed well.

In the third quarter they were up by 14% and 28% respectively. Ship Power’s year-on-year performance is strong, and has been supported by both an active offshore sector and the Hamworthy acquisition.

Among the highlights are a major engine and propulsion equipment order for six Brazilian drillships from Jurong Shipyard Pte Ltd, and three platform supply vessel related orders from Statoil, as well as the first four ballast water management system orders. Wärtsilä again received a record power plant order, this time for an approximately 600 MW power plant to be constructed in Jordan. It will be the world’s largest tri-fuel power plant. I am also happy to note that the growth trend for Services continues, regardless of the difficult market environment that many of our marine service customers are experiencing.

We believe that net sales will grow this year by around 10-15%, which is more than originally estimated. Our profitability now stands at 10.3% and we believe it will improve in the fourth quarter. As a result, we expect profitability for the full year to be 10.5-11%.”
 

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

People & Company News

Coast Guard Academy Cadet to Receive Fulbright Scholarship

Stephen Horvath, a first class cadet at the U.S. Coast Guard Academy, was recently granted a two-year Fulbright Scholarship to study renewable energy technologies

Ecochlor Presents BWTS Case Study at CMA

Ballast water treatment technology developer Ecochlor Inc. presented a project case study yesterday at CMA Shipping 2015 in Stamford, Conn. The case study covered

Golden Ocean and Knightsbridge Complete Merger

The merger between Knightsbridge Shipping Limited and Golden Ocean Group Limited was approved today at special meetings of both companies' shareholders.      The new company,

Finance

Yachting Malta PPP Sets Sail

Yatching Malta Ltd (YML) - a new public private partnership (PPP) between the government and the Royal Malta Yacht Club (RMYC) was formed with the aim of putting Malta on "the global yachting map".

China Cosco's Profit Up 54%

The Shanghai-and-Hong Kong-listed flagship unit of China Ocean Shipping Group, China Cosco Holdings Co Ltd says that its 2014 net profit went up 54 percent y/y at 362.

Taiwan Boosts Yacht Export

Taiwan's yacht industry saw its first double-digit growth in nearly a decade, indicating an inspiring revival led by development and sales of larger leisure boats,

 
 
Maritime Contracts Maritime Security Maritime Standards Navigation Offshore Oil Pipelines Ship Electronics Ship Repair 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: 0.1422 sec (7 req/sec)