Wärtsilä: Sales are Up

Wärtsilä's CEO Ole Johansson, at the company's Annual General Meeting, said net sales have risen in early 2004.

"Wärtsilä's net sales in January-February showed a slight increase compared to last year. Ship Power's orders are at last year's level. Power plant order intake is on a lower level than last year. The personnel consultations concerning the discontinuation of manufacturing in Turku and Mulhouse have affected production with the result that the first-quarter operating result of the Power Businesses will be clearly weaker than during the same period last year," he said.

The profitability estimate for the whole of 2004 will remain unchanged. Wärtsilä's operational profitability will improve slightly. The impact of capacity reductions of the company's performance will become visible during 2005. The 7-8% operating margin target for the Power Businesses will be reached by the end of 2005.