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09 August 2022 The on-line newspaper devoted to the world of transports 03:12 GMT+2

July 21, 2022

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Positive quarterly economic and commercial performance by Wärtsilä

In the period April-June the net turnover is up by +24.4%

In the second quarter of this year the net sales of the Finnish group Wärtsilä Corporation has grown by +24.4% rising to 1.41 billion euros compared to 1.13 billion in the same period of 2021. In the Marine Power segment only on energy creation and propulsion systems developed by the group for the naval sector the net turnover is amounted to 503 million euros (+7.9%) and in that Marine Systems which deals with the development of other systems for the same sector amounted to 185 million euros (+23.3%).

The Finnish group announced that in the entire first half of the year in 2022 the maritime transport and construction markets Naval continued to register a considerable demand for tonnage and activity remained at a good level in all naval segments, positive development that is sustained the continuous growth in the demand for trade, the port congestion and a generalized recovery in demand post-pandemic. A negative factor, on the other hand, is related to the geopolitical issues, in particular to the Russia-Ukraine war, which has complicated the outlook for the global industry shipping.

With regard to the shipbuilding segment only, Wärtsilä recalled that such activities in China have been heavily affected by Covid lockdowns, with some shipyards that had to declare a cause of force greater having had to stop operations. The situation is improved towards the end of June with the gradual revocation of the Restrictions. Overall, in the first half of this year the investment in new ships has decreased compared to the level of the last year mainly - explained the Finnish group - to cause of the constant increase in the prices of new construction and the fewer slots available at major construction sites naval, but also due to uncertainties related to future demand of tonnage. In the first six months of 2022, there were 701 contracts for the construction of new ships compared to 829 in the corresponding period last year.

In the second quarter of 2022 the group recorded a profit operating of 75 million euros (58 million in the same period of 2021), with a contribution of 45 million (44) from the Marine Power segment and of 11 million (13) from the Marine Systems segment.

In the period April-June of this year the group obtained new orders for a total value of 1.44 billion euros (+24.8%), of which 559 million in the Marine Power segment (+20.7%) and 140 million in the Marine Systems segment (-23.5%). At 30 June the value of the group's order book was €5.94 billion (+13.3%), of which 2.00 billion for the Marine Power division (+7.7%) and 1.01 billion for Marine Systems (+11.1%).

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