Wartsila Announces 2013 Financial Results

January 29, 2014

Impacted by the continued uncertainty in the global economy, Wartsila’s order book at the end of 2013 decreased by 1% to EUR 4,426 million (4,492).

Björn Rosengren, President and CEO of Wärtsilä Corporation said: “Due to unfavorable exchange rates and some delayed deliveries, the net sales development was slightly weaker than expected. This impacted our group order intake levels, which decreased by 1% compared to the previous year. The service markets remained stable. Long-term agreements continue to be a strategic focus area for the Services business, and I am pleased that several such contracts were signed during the year.”

Wärtsilä expects its net sales for 2014 to grow by 0-10% and its operational profitability (EBIT% before non-recurring items) to be around 11%.

Fourth quarter highlights

Order intake remained stable at EUR 1,351 million (1,357)
Net sales decreased 8% to EUR 1,411 million (1,533)
Book-to bill 0.96 (0.89)
Operating result before non-recurring items EUR 201 million, or 14.2% of net sales (EUR 188 million or 12.3%)
EBITA EUR 208 million, or 14.8% of net sales (EUR 198 million or 12.9%)
Earnings per share EUR 0.74 (0.62)
Cash flow from operating activities EUR 317 million (187)

1-12/2013 review period highlights

Order intake decreased 1% to EUR 4,872 million (4,940)
Net sales decreased 1% to EUR 4,654 million (4,725)
Book-to bill 1.05 (1.05)
Order book at the end of the period decreased by 1% to EUR 4,426 million (4,492)
Operating result before non-recurring items EUR 520 million, or 11.2% of net sales (EUR 517 million or 10.9%)
EBITA EUR 552 million, or 11.9% of net sales (EUR 552 million or 11.7%)
Earnings per share EUR 1.98 (1.72)
Cash flow from operating activities EUR 578 million (153)
Dividend proposal 1.05 euro per share

Wärtsilä’s financial statements bulletin 2013.

[mappress]
Press Release, January 29, 2014