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 Today


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

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

Shipbuilding

UK Ship Named for BBC Naturalist, but Boaty McBoatface Lives On

A new 200 million pound ($290 million) polar research ship is to be named after veteran BBC naturalist David Attenborough but the government promised on Friday that "Boaty McBoatface",

Evergreen Holding Group May Miss Bond Payment

Evergreen Holding Group, an unlisted company that specialises in building boats, issued a warning on Friday that it may have trouble making coupon and interest payments on a bond maturing on May 15.

Navy to Christen Littoral Combat Ship Manchester

The Navy will christen its newest Independence-variant littoral combat ship, USS Manchester (LCS 14), during a 10 a.m. CST ceremony Saturday, May 7 in Mobile, Alabama.

Finance

Evergreen Holding Group May Miss Bond Payment

Evergreen Holding Group, an unlisted company that specialises in building boats, issued a warning on Friday that it may have trouble making coupon and interest payments on a bond maturing on May 15.

Italy Rescues Nearly 1,800 Migrants in Mediterranean

Italian vessels have helped rescue nearly 1,800 migrants from boats trying to reach Italy from north Africa in the last 24 hours, the navy said on Friday, indicating

Recent Strength in Dry Bulk Shipping to be Short-Lived

Drewry forecasts dry bulk freight rates in 2016 will be, on average, lower than in 2015, as the medium-to-long term fundamentals for dry bulk shipping will remain challenging,

Marine Power

Navy to Christen Littoral Combat Ship Manchester

The Navy will christen its newest Independence-variant littoral combat ship, USS Manchester (LCS 14), during a 10 a.m. CST ceremony Saturday, May 7 in Mobile, Alabama.

East Asia Trio Agree to Boost Maritime Security

Foreign ministers and defense force chiefs from Indonesia, Malaysia and the Philippines signed a joint declaration on maritime security on Thursday, calling on

Alfa Laval HCO Filter Approved for Validation Testing

A manufacturer of two-stroke engines has agreed to validation tests of an Alfa Laval hydraulic control oil (HCO) filter . The approval to test the final HCO filter

 
 
Maritime Careers / Shipboard Positions Offshore Oil Pipelines Port Authority Salvage Ship Electronics Ship Simulators Shipbuilding / Vessel Construction 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: 0.0848 sec (12 req/sec)