Wärtsilä Back to Growth, Stable Profitability in 2012

Press Release
Friday, January 25, 2013

Wärtsilä has issued its financial statement and bulletin for the period January to December 2012.

HIgllights of the review period
-Order intake increased 9% to EUR 4,940 million (4,516)
-Net sales increased 12% to EUR 4,725 million (4,209)
-Book-to-bill 1.05 (1.07)
-Operating result (EBIT) EUR 515 million or 10.9% of net sales (EUR 469 million or 11.1%)
-EBITA EUR 550 million or 11.6% of net sales (EUR 485 million or 11.5%)

-At the end of the period the order book increased 12% to EUR 4,492 million (4,007)
-Earnings per share amounted to 1.72 euro (1.44)
-Cash flow from operating activities EUR 153 million (232)

-Dividend proposal 1.00 euro/share

“I am pleased with our result for the year 2012, which was a year marked by difficult conditions in the global economy. Supported by a very strong fourth quarter, Wärtsilä's full year net sales grew by 12% with profitability at 10.9%. The order intake grew by 9%, with strong development in Ship Power orders, especially in the offshore markets.

During 2012, we closed our largest ever acquisition with the purchase of Hamworthy. This supports our growth strategy in the marine gas, offshore and environmental solutions markets. Interest in marine gas solutions continued to be strong and the orders received demonstrate our leading position in the dual-fuel markets.

As regards environmental solutions, market activity showed an upward trend. In the growing offshore markets, our position is good, not least in Brazil where we secured several important orders.

Power Plants received two of their largest orders ever, and Wärtsilä is today recognised as a serious contender in the market for power plants above 500 MWs of capacity. I am also very pleased that the Services net sales have returned to growth and that important long-term service contracts are being secured in tough market conditions.

Looking at 2013, the economic situation continues to be uncertain, however our outlook for the markets remains stable. Supported by the solid order book, we see some growth in net sales next year and believe we can maintain our profitability on approximately the same level as in 2012.”


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