Wärtsilä Interim Report January – March 2012

Press Release
Monday, April 23, 2012

Wärtsilä report offshore and power plant markets supported 13% growth in orders

HIGHLIGHTS OF THE REVIEW PERIOD JANUARY-MARCH 2012


- Order intake increased 13% to EUR 1,109 million (979)
- At the end of the period the order book totalled EUR 4,409 million (3,669), +20%
- Net sales decreased 7% to EUR 1,005 million (1,083)
- Operating result EUR 102 million, or 10.1% of net sales (EUR 113 million and 10.4%)
- Earnings per share 0.33 euro (0.38)
- Cash flow from operating activities EUR 28 million (133)
- The acquisition of Hamworthy became effective on 31 January 2012
 
BJÖRN ROSENGREN, PRESIDENT AND CEO:
"The year has started rather well with order intake increasing by 13%. Our profitability was 10.1% and we are well on track to reach our targets for this year. Our net sales development was in line with our overall expectation of rather low Power Plants and Ship Power deliveries during the first quarter. Services' net sales grew by 12% with the increase coming from both parts and field services. During the first quarter, we signed a service agreement with US-based Prestige Cruise Holdings, as well as an operations & management agreement with Energética Suape II SA in Brazil for the largest power plant ever delivered by Wärtsilä. These contracts signify our commitment to deliver lifecycle value to our customers.
 
The offshore market was active, and we received a repeat order from Harvey Gulf International to supply integrated solutions for two gas fuelled offshore support vessels that will operate in the Gulf of Mexico. Power Plants' major orders included a dual-fuel power plant from Matanuska Electric Association in Alaska, USA and Indonesia's first gas engine peaking plant ordered by PT Perusahaan Listrik Negara.
 
Integration of the recently acquired company Hamworthy is proceeding according to plan and the company is performing better than expected. Our target is to double Hamworthy's net sales within the next five years."
 
 

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

Shipbuilding

BHGI-designed ATB Unit Under Construction

Bristol Harbor Group, Inc. (BHGI) informs it is currently completing the detail design phase of a 399’ x 74’ x 30’ 80,000 BBL double hull oil tank barge and a 120’

Scorpio Bulkers Sells Three Newbuilds for $111m

Scorpio Bulkers Inc. announced that it has entered into agreements to sell three newbuild dry bulk vessels, including two Capesize ships and an Ultramax ship, for

Horizon Delivers Second 80’ Towboat to FMT

Horizon Shipbuilding, Inc. announced the delivery of another 80’ Inland River Towboat, the M/V Chip Stiebing, to Florida Marine Transporters (FMT) of Mandeville, La.

Finance

Milaha Reports Improved Net Profit for Q1

Qatar Navigation (Milaha) Q.S.C. has announced its financial results for the three months ended March 31, 2015, in which it reported operating revenues of QR 786 million vs.

SFL Acquires Eight Bulk Carriers from Golden Ocean

Ship Finance International Limited (SFL) has entered an agreement to acquire eight Capesize dry-bulk carriers from subsidiaries of Golden Ocean Group Limited, the company announced today.

Truckers to Strike Four SoCal Shippers

Truckers who haul freight from the ports of Los Angeles and Long Beach will go on strike against four ground-shipment companies on Monday, a Teamsters union official said,

Marine Power

EPA Promotes Green Initiatives at Port of Houston

U.S. Environmental Protection Agency (EPA) Administrator Gina McCarthy visited the Port of Houston April 24 to highlight grants aimed at improving air quality. The port will receive about $900,

Falklands' Oil Drilling at Isobel Deep Suspended

Oil explorers drilling in the waters north of the Falkland Islands have suspended work on the second well of their 2015 current six-well drilling campaign after a technical problem.

Incat Crowther Designs Commercial Security Vessel

Incat Crowther has received a contract to design an offshore commercial oilfield security vessel for Veecraft Marine and its client, UTM Dredging Ltd, the designer announced today.

 
 
Maritime Contracts Maritime Security Naval Architecture Navigation Offshore Oil Pod Propulsion Salvage Ship Electronics Sonar Winch
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: 0.1735 sec (6 req/sec)