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Wärtsilä release interim report

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LNG Industry,

Wärtsilä’s has released its interim report for January – September 2017.

Third quarter highlights:

  • Order intake increased 19% to €1354 million (1139).
  • Net sales increased 9% to €1178 million (1079).
  • Book-to-bill reached 1.15 (1.06).
  • Comparable operating result increased to €135 million (123), which represents 11.4% of net sales (11.4).
  • Earnings per share amounted to €0.43 (0.43).
  • Cash flow from operating activities decreased to €150 million (189).

Highlights of the review period January – September 2017:

  • Order intake increased 15% to €4130 million (3604).
  • Net sales increased 7% to €3477 million (3242).
  • Book-to-bill reached 1.19 (1.11).
  • Comparable operating result increased to €346 million (330), which represents 10.0% of net sales (10.2).
  • Earnings per share increased to €1.10 (0.92).
  • Cash flow from operating activities decreased to €154 million (378).
  • Order book at the end of the period amounted to €5075 million (5024).

Wärtsilä's prospects for 2017
The overall development for 2017 is expected to be relatively unchanged from the previous year. Demand by business area is anticipated to be as follows:

  • Solid in Services with growth opportunities in selected regions and segments.
  • Good in Energy Solutions, thanks to increasing electricity demand in the emerging markets and the global shift towards renewable energy sources, which will support the need for distributed, flexible, gas-fired power generation.
  • Solid in Marine Solutions. Despite good order intake growth, the marine market environment remains challenging, as the merchant, gas carrier, and offshore segments continue to suffer from overcapacity and slow trade growth.

Wärtsilä’s current order book for 2017 deliveries is €1206 million (1346). Wärtsilä will continue to focus on improving efficiency, which is expected to partially offset lower volumes in the marine markets. The pricing environment in Energy Solutions’ markets has stabilised, but the order book is still impacted by the competitive pressure seen in previous years. The good performance in Services is expected to continue.

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