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10 August 2022 The on-line newspaper devoted to the world of transports 02:00 GMT+2

July 20, 2021

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Wärtsilä's orders in the sector are growing naval

In the second quarter of this year, the turnover in this business segment fell by -6%

The Finnish group Wärtsilä Corporation, specialized in solutions and systems for the generation of energy, closed the second quarter of this year with a net sales of 1.13 billion euros, with a decrease of -7% on the corresponding period of 2020, including €616 million generated in the maritime transport segment alone (-6%), of which 466 million in the engine and propulsion systems segment (+11%) and 150 million in systems, equipment and services for the shipbuilding sector (-37%). The Finnish group reported a profit operating of 58 million euros (+18%), with a contribution of 49 million from activities for the naval sector (+4%) including 37 million from the Marine Power division (+77%) and 12 million from the division Marine Systems (-54%). Pre-tax profit was 53 million euros (+47%) and net profit of 35 million euros (+52%).

In the period April-June of this year the Wärtsilä group has forfeited new orders for a total of 1.15 billion euros (+14%), of which 463 million were generated by the Marine Power division (+18%) and 183 million from the Marine Systems division (+54%). At 30 last June the value of the group's orderbook was 5.24 billion euros, down -3% on 30 June 2020, of which 1.86 billion related to the Marine Power segment (-3%) and 912 million to the Marine Systems segment (+1%).

«During the second quarter of 2021 - he commented the President and CEO of Wärtsilä, Håkan Agnevall - we found signs of stabilization and recovery in our markets, despite the prevailing uncertainty». With regard to the naval sector, Agnevall specified that "the Order volume of ships has grown, although the activity in our main segments for the shipbuilding sector is remained relatively restrained. In particular, the important Cruise industry is still heavily affected by the covid-19 related restrictions. The demand for services - he added Agnevall - has developed positively in all segments of the shipbuilding sector, supported by an improvement in activity and revenue. We have recorded a good question regarding long-term agreements, as customers want to insure the performance of their fleets'.

In the first six months of this year, the group's net sales were status of 2.08 billion euros, with a decrease of -13% on the first half of 2020, with a contribution of 892 million from the Marine Power division (+2%) and 292 million from the Marine division Systems (-38%). Operating profit was 94 million euro (-7%), with contributions of 77 million respectively (+38%) and 19 million (-56%) by the two divisions for the naval sector. Profit pre-tax was 88 million euros (+11%) and profit net of 59 million euros (+13%).

In the first half of 2021, the value of new orders acquired from the group was 2.40 billion euros (+6%), with a contribution of € 909 million from the Marine Power division (+3%) and 336 million from the Marine Systems division (+45%).

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