Wärtsilä posted the financial results for the period of January-June 2019.
HIGHLIGHTS OF THE SECOND QUARTER
Order intake decreased 11% to EUR 1,377 million (1,553)
Net sales decreased 2% to EUR 1,217 million (1,246)
Book-to-bill amounted to 1.13 (1.25)
Comparable operating result decreased 8% to EUR 113 million (123), which represents 9.3% of net sales (9.8)
Earnings per share decreased to 0.11 euro (0.13)
Cash flow from operating activities decreased to EUR -37 million (41)
HIGHLIGHTS OF THE REVIEW PERIOD JANUARY-JUNE 2019
Order intake decreased 9% to EUR 2,793 million (3,060)
Order book at the end of the period increased 10% to EUR 6,470 million (5,904)
Net sales increased 2% to EUR 2,368 million (2,312)
Book-to-bill amounted to 1.18 (1.32)
Comparable operating result increased 2% to EUR 215 million (211), which represents 9.1% of net sales (9.1)
Earnings per share decreased to 0.21 euro (0.22)
Cash flow from operating activities was stable at EUR -2 million (-1)
WÄRTSILÄ’S PROSPECTS
The demand for Wärtsilä’s services and solutions in the coming 12 months is expected to be somewhat below that of the previous 12 months (previously in-line). Demand by business area is anticipated to be as follows:
Soft in Wärtsilä Marine Business. The demand outlook has been downgraded from solid, due to lower vessel contracting volumes and an anticipated decline in the demand for scrubber solutions from last year’s exceptionally high level. Activity in the marine services market is expected to continue.
Soft in Wärtsilä Energy Business. The demand outlook has been downgraded from solid, as market conditions in the energy industry remain challenging, with geopolitical risks and economic uncertainty affecting customers’ appetite for investments. The demand for energy services remains healthy.
Wärtsilä’s current order book for 2019 deliveries is EUR 2,613 million (2,336). Deliveries are expected to be concentrated to the last quarter of the year.
Wärtsilä in brief
Wärtsilä is a global leader in smart technologies and complete lifecycle solutions for the marine and energy markets. By emphasising sustainable innovation, total efficiency and data analytics, Wärtsilä maximises the environmental and economic performance of the vessels and power plants of its customers. In 2018, Wärtsilä’s net sales totalled EUR 5.2 billion with approximately 19,000 employees. The company has operations in over 200 locations in more than 80 countries around the world. Wärtsilä is listed on Nasdaq Helsinki.