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04 December 2021 The on-line newspaper devoted to the world of transports 18:13 GMT+1

October 26, 2021

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Wärstilä's turnover in the third quarter Corporation is back to growth

The value of new orders in the naval sector is increased by +9%

After four quarters of decline, the Finnish group Wärstilä Corporation, which manufactures power generation systems for marine and terrestrial sectors, closed the third quarter of this year with an increase in net sales that is amounted to 1.10 billion euros, with an increase of +11% on the same period of 2020. Operating profit is also growing, as it is amounted to 75 million euros (+77%) and net profit, which amounted to 50 million euros (+100%).

In the period July-September of 2021, in addition, the group has recorded a significant recovery in new orders whose value has been amounted to 1.19 billion euros (+21%). The value of the portfolio orders at 30 September last amounted to 5.32 billion euros (+1%).

The new orders acquired in the naval sector alone have totalled 634 million euros (+9%), of which 443 million in the marine engine production segment (+8%) and 191 million in the segment of systems for the naval sector (+10%). The activity in the naval sector generated a net turnover of 524 million euro (-5%), of which 382 million produced by the Marine Power division (0%) and 142 million from the Marine Systems division (-16%), and a operating profit of 50 million euros (-12%), of which 36 million relating to the Marine Power division (0%) and 14 million to the Marine Systems division (-33%).

Referring to the evolution of the market in the naval sector in the during the third quarter of this year, the President and Managing Director of Wärstilä, Håkan Agnevall, he explained that "there has been an improvement with regard to orders for ships, largely towed by orders for carriers. The activity in our main segments of ships - he specified - remained relatively low. In particular - said Agnevall - the important sector of cruises is still heavily affected by Covid-19. The demand for services, on the other hand, has developed positively in all naval segments. In the third quarter the reactivation of the cruise and ferry fleets continued and the active cruise ship fleet capacity is increased from about 20% at the end of June to about 50% at the end September, which supports our future business for as regards services'.

Referring again to the group's performance in the sector Maritime, Agnevall specified that the results of the division Marine Systems continue to be burdened by the low level of orders for scrubbers for the purification of exhaust gases ships.

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