Wärtsilä Corp. Interim Report

Wednesday, October 20, 2010

Ole Johansson, President and CEO said, "The third quarter was strong for Wärtsilä at all levels, as net sales developed according to plan, profitability was strong, and cash flow from operating activities was at an all time high level. As a result of this positive development we now expect our profitability to exceed 10% for the year 2010. The improvements in Wärtsilä's market environment that started in the second quarter have continued, and we expect the order intake for the full year to clearly exceed last year's levels. Despite this, structural changes in the market, intense competition and price pressure support our restructuring and efficiency improvement measures which will ensure our competitiveness also in the future."

Wärtsilä's prospects for 2010 improved
Based on the current order book and a stable service business we expect net sales to decline by approximately 15 percent in 2010 and our operational profitability (EBIT% before nonrecurring items) to be better than earlier expected and to exceed 10%.

Third quarter highlights
- Order intake EUR 1,004 million (725), +38%
- Net sales EUR 1,039 million (1,167), -11%
- Operating result EUR 117 million (133), 11.2% of net sales (11.4)
- Earnings per share amounted to 0.83 euro (0.87)
 
Highlights of the review period January-September 2010
- Order intake EUR 3,002 million (2,468), +22%
- At the end of the period the order book totalled EUR 4,243 million (5,351), -21%
- Net sales EUR 3,091 million (3,741), -17%
- Operating result EUR 328 million (419), 10.6% of net sales (11.2)
- Earnings per share amounted to 2.36 euro (2.82)
- All time high cash flow from operating activities EUR 491 million (142)

All numbers above are shown excluding nonrecurring items. Wärtsilä recognised EUR 2 million of nonrecurring items related to restructuring measures during the third quarter and a selling profit of EUR 32 million from the divestment of its Sampo Group holding. Wärtsilä recognised EUR 59 million of nonrecurring restructuring items during the review period January-September 2010.
 

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

Marine Propulsion

DNV GL Approvals for SAACKE Scrubbers

Classification increases planning certainty for exhaust gas scrubber operators.   The classification society DNV GL has certified the SAACKE exhaust gas scrubber

Schottel Optimizes Training With Simulator

Since autumn 2014 customers can exercise their handling and knowledge of SCHOTTEL propulsion systems in the SCHOTTEL Academy by using a training simulator.   Academy

Ship Emissions: Chevron Lube Gains Key Approval

A new Chevron Marine Lubricants 100 BN cylinder oil, which is designed to offer ship owners the ability to achieve the latest emissions legislation, has received full sign off from a key engine maker.

Finance

St. Lawrence Seaway Workers Extend Strike Deadline

The union that represents workers on the St. Lawrence Seaway, the waterway that links the Great Lakes and the Atlantic Ocean, has extended a strike deadline to Monday at 5 p.

Mitsubishi Exits Cruise Business; Books $357m Loss

Mitsubishi Heavy Industries, Ltd. (MHI) announced its decision to book an extraordinary loss from its cruise ship business in the company's consolidated financial

China to Import 335 MT of Naphtha, Wants More

China is set to import more than 335,000 tonnes of naphtha and diesel, rare moves for the world's no. 2 oil consumer given it has been self-sufficient at meeting domestic oil product demand,

 
 
Maritime Careers / Shipboard Positions Naval Architecture Navigation Pipelines Pod Propulsion Port Authority Salvage 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: 0.1137 sec (9 req/sec)