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HEALTHY 2019 OUTLOOK FOR WÄRTSILÄ

Wednesday, January 30, 2019 

Wärtsilä has released its financial statement for 2018, which shows a growth in orders of 24% and an increase in net sales of 6% compared with 2017

The company reports a "solid" outlook for both marine and energy businesses. Marine demand is supported by its extensive product and service offering and broad segment exposure, which compensates for the slow pace of recovery in vessel contracting.

Jaakko Eskola, President and CEO (pictured), said: “2018 was marked by positive order intake development resulting from improved demand in the marine newbuild and service markets. Environmental considerations emerged as a key theme in the marine markets, as customers sought to prepare themselves for compliance with the IMO 2020 global sulphur cap. For Wärtsilä, this trend was reflected in a significant growth in demand for exhaust gas cleaning systems. Another contributor to the increase in order intake was the high level of activity in the cruise and ferry markets, as well as our customers’ interest in long-term service agreements."

He continued: "The marine and energy industries are being transformed through increasing connectivity, new business models, and the shift to a sustainable, low emissions economy... Among the key milestones for the year was the introduction of new solutions for the integration of renewables and energy storage, as well as the successful testing of our automated dock-to-dock concept, and a project to develop an autonomously navigated harbour tug. The acquisition of Transas further strengthened our offering of smart solutions for the marine industry, and was important in this development work."

Eskola summed up by saying: "Our order book for this year’s deliveries is healthy, with deliveries again expected to be concentrated to the latter part of the year. The successful implementation of planned actions to ensure sustainable savings and increased customer value will be central to the development of our profitability in 2019.”

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