The Finnish technology group Wärtsilä reported an 11 percent drop in order intake for during the second quarter of the year.
Wärtsilä’s second quarter order intake totaled €1.37 billion ($1.55 billion) down from €1.55 billion in the corresponding quarter last year. Wärtsilä Marine accounted for 68 percent of the order intake and Wärtsilä Energy for 32 percent.
Wärtsilä’s January-June order intake amounted to €2.79 billion ($3.14 billion) a decrease of 9 percent over the corresponding period last year.
The total order book at the end of June increased by 10 percent to €6.470 billion. Wärtsilä Marine accounted for 61 percent of the order book and Wärtsilä Energy for 39 percent.
Wärtsilä’s second-quarter net sales totaled €1.21 billion ($1.37 billion), a decrease of 2 percent over the corresponding period last year.
Commenting on the results, Wärtsilä’s president and CEO Jaakko Eskola, said, “while the first half of 2019 was generally marked by stable development in our net sales and profitability, our performance in the second quarter was burdened by fewer power plant deliveries, as well as an unfavorable project and equipment mix.”
He noted that the order intake for the first six months was below that of the previous year, largely resulting from the continued macroeconomic and geopolitical uncertainty that has prolonged customer decision-making in the energy markets.
“Looking beyond 2019, we are well placed to benefit from the demand for energy efficiency and the shift to low carbon energy sources in both of our end-markets,” Eskola said.