Finnish engine manufacturer Wärtsilä order intake during the third quarter 2016 increased 5 percent on the same quarter in 2015, reaching €1.13 billion (Approx. US$1.24 billion).
Order intake for the first nine months of 2016 reached €3.6 billion, 2 percent up on the €3.52 billion recorded in the corresponding period in 2015, the company said in its report on Tuesday.
However, net sales dropped 12 percent from €1.22 billion in the third quarter of 2015 to €1.07 billion in the current quarter under review. Nine-month net sales have also declined, with Wärtsilä reporting €3.24 billion net sales in 2016 so far, 6 percent down on €3.43 billion in 2015.
Jaakko Eskola, president and CEO of Wärtsilä said, “the concentration of deliveries towards the end of the year resulted in lower sales.”
The company has revised its prospects for 2016 and is expecting a decline in net sales of about 5 percent with profitability to be around 12 percent. Previous predictions saw a growth in net sales of up to 5 percent and a profitability of 12.5 to 13 percent.
1 € = 1.08904 US$