Wärtsilä’s order intake climbing

Wärtsilä's order intake climbing

Finnish technology group and LNG specialist Wärtsilä, has seen its third-quarter order intake jump 19 percent boosted by an order to build an LNG terminal in Hamina. 

The company’s order intake for the third quarter reached €1.35 billion ($1.6 billion), up from €1.14 billion during the corresponding quarter in 2016.

Commenting on the results, Wärtsilä’s president and CEO Jaako Eskola, said it was “satisfactory.”

“In addition to the good demand for our power generation solutions, we received an order to build our third LNG terminal in Finland, which will be located in Hamina,” he said.

The company noted that the order intake for the first nine months reached €4.13 billion, showing a 15 percent increase over the same period last year when the order intake was at €3.6 billion.

The company’s net sales for the quarter jumped 9 percent to €1.18 billion, while the first nine months net sales reached €3.48 billion, showing a 7 percent increase over the corresponding period in 2016.

Wärtsilä’ expects the overall development for 2017 to be relatively unchanged from the previous year.

However, despite the 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 at €1.20 billion, as compared to 1.35 billion last year.

1 EUR = 1.17616 USD

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Posted on October 25, 2017 with tags .

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