Wärtsilä net sales down 2%

Wärtsilä has reported a 9% order intake increase to €1163 million throughout Q2 2014, while net sales decreased 2% to €1132 million throughout the second quarter.

Wärtsilä’s order intake decreased 5% to €2305 million throughout the first half of 2014 (from January to June), while net sales increased 5% to €2144 million. The company’s order book at the end of this period had decreased 4% to €4554 million.

Since the end of the reporting period, Wärtsilä and China State Shipbuilding Corp. announced the establishment of a joint venture, which will take over Wärtsilä's two-stroke engine business. Going forward, the two-stroke engine business will be reported as discontinued operations.

Wärtsilä and China State Shipbuilding Corporation announced the establishment of a joint venture for manufacturing medium and large bore medium-speed diesel and dual-fuel engines.

Prospects

Wärtsilä estimates its profitability for 2014 (EBIT% before non-recurring items) to be around 11.5%, due to the two-stroke business transaction. Net sales are expected to grow by around 5%.

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Adapted from press release by Callum O'Reilly

Read the article online at: https://www.lngindustry.com/lng-shipping/21072014/wartsila-interim-report-q2-2014-1026/