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WÄRTSILÄ REPORTS POSITIVE NET SALES AND PROFITABILITY OUTLOOK

Thursday, April 25, 2019 

Although Wärtsilä group’s order intake decreased by 6%in the first part of 2019, net sales increased by 8% and profitability is expected to continue.

In the Wärtsilä Marine Business, demand outlook for both services and equipment is supported by an extensive product mix and broad segment coverage, which the company says will limit the impact of a slower than anticipated marine market recovery.

Jaakko Eskola, President and CEO (pictured), said: “The beginning of 2019 was marked by growth in net sales, thanks to higher services volumes in both business areas [marine and energy] and an increase in marine equipment deliveries. Profitability improved as a result of a more favourable sales mix within our services activities. Looking ahead, we expect net sales and profitability development to be weighted towards the end of the year, due to delivery phasing and the anticipated realisation of savings related to the realignment program announced in January.

"In the marine industry, the pace of market recovery remains slow. Nevertheless, orders received by Wärtsilä Marine Business increased, primarily because of improved demand in the gas carrier segment where we received several orders for gas handling systems and related technology.

"Our new organisational structure formed around two lifecycle businesses became operational at the beginning of the year. I am pleased to note that we have already started to see the initial benefits of this reorganisation in the form of improved cooperation internally with regards to developing and executing our full lifecycle offering. This further strengthens my conviction that the change will not only strengthen our partnerships with customers, but also support the progression towards our long-term target of profitable growth.”

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