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03 June 2020 The on-line newspaper devoted to the world of transports 21:12 GMT+2

October 25, 2019

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Wärtsilä, for the first time after 62 archived item trimesters with a profit, has closed third trimester 2019 in loss

The new orders have recorded a contraction of -29%

In the third trimester of this year the revenues of the Wärtsilä Corporation, company that work in the field of the systems for the energy generation, are piled to 1,12 billion euros, with a bending of the -16% on the correspondent period of 2018, of which 776 million (+14%) in the segment Wärtsilä Marine Business, the division that work in the field of the technologies for the marine industry that is created at the beginning of this year, with the other division Wärtsilä Energy Business, and in which is met various activities precedence between which mainly those of the former Marine Solutions division. The operating profit has recorded a decided contraction having come down of the -92% to 11 million euros. In the period July-september of the 2019 economic result clearly of the Finnish group, for the first time after very 62 archived item consecutive quarterly periods with a profit, has been of sign negative, with a net loss that has turned out of -5 million euros.

In the third trimester of the 2019 total value of the new acquired orders from the group a bending of the -29% has shown being itself attested to 979 million euros, of which 705 million (- 30%) in the segment Wärtsilä Marine Business. Al 30 last September the value of the orderbook turned out pairs to 6,29 billion euros, in increase of +6% regarding on September 30, 2018, of which 3,89 billion (+10%) in the single field Wärtsilä Marine Business.

The president and managing director of Wärtsilä, Jaakko Eskola, have confirmed that the third trimester of this year has been challenging for the group is in terms of consistency of the question of equipments and systems is in terms of performance financial institutions. "The decrease of the acquisition of orders - it has explained - reflects the minor so volume of store clerks in the naval field and the bending of the question of systems scrubber as the prosecuzione of the slow decisional process in existence in the markets of the energy". Eskola has confirmed moreover that the group is tackling to unexpected costs in some projects is in the marine field that in that energetic one, extraordinary costs that in the entire exercise anniversary 2019 will pile to 150 million euros, of which 84 million already accounted for. "A review of these projects - it has specified - has revealed forecasts of the which roved costs, an insufficient risk assessment and difficulty relatively to the supplies. We have assumed - it has emphasized Eskola - corrective measures so that similar problems do not happen in future. These include the introduction of severeer controls on the technical appraisals and the procedures of approval of the suppliers let alone the strengthening of the organization of management of the project".

In the first nine months of this year the revenues of the group have totaled 3,49 billion euros, down of the -4% on the same period of 2018, of which 2,31 billion (+16%) produced from the division Wärtsilä Marine Business. The operating profit has been of 198 million euros (- 41%) and the profit clearly of 116 million euros (- 5%). In the period January-september of the 2019 new orders to the group they are piled to 3,77 billion euros (- 15%), of which 2,56 billion (- 12%) to the segment Wärtsilä Marine Business.

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