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08 March 2021 The on-line newspaper devoted to the world of transports 17:19 GMT+1

January 28, 2021

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Worsening Wärtsilä's performance in the latter part of 2020

In the full year, net sales down by -11%

In the fourth quarter of 2020, the decline in economic performance and commercial activity of the Finnish group Wärtsilä Corporation. The company has closed the period with a net turnover of 1.22 billion euro, with a decrease of -28% over the period October-December 2019. Operating profit fell by -45% to 90 million and net profit of -46% to €55 million.

The reduction in the value of new orders is also significant acquired during the period that turned out to be overall €1.12 billion (-28%). The value of the order book at 31 December last year stood at EUR 5.06 billion, with a decrease of -14% on December 31, 2019.

The Marine Power and Marine Systems divisions alone, which deal with respectively of the realization of engines and naval propulsion and equipment and systems for units have obtained new orders of 440 million (-33%) and 133 million euros (-9%) and the value of the orderbooks stood at 1.74 at the end of 2020 billion euros (-23%) and 539 million euros (-28%).

In the fourth quarter of last year, the Marine Power division net sales of 489 million euros (-19%) and a operating profit of 42 million euros (-55%), while the division Marine Systems reported net sales of 167 million euro (-40%) and an operating profit of 15 million euros (+31%).

In the full year 2020, the group's net turnover Wärtsilä amounted to EUR 4.60 billion, in down by -11% on the previous year, of which 1.75 billion marine power division (-9%) and 808 million from that Marine Systems (-15%). Group operating profit was €234 million (-35%), with a contribution of €134 million from Marine Power (-40%) and 81 million from Marine Systems (+53%). Net profit was €133 million (-39%).

Last year the group acquired new orders for 4.36 billion euros (-18%), of which 1.37 billion for Marine Power (-23%) and 539 million for Marine Systems (-28%).


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