Wartsila order intake up in Q3

Wärtsilä of Finland said its order intake in the third quarter has increased 21 percent to EUR 1,309 million.

The company’s net sales decreased 7 percent to EUR 1,117 million in the third quarter. Cash flow from operating activities was EUR 68 million.

Björn Rosengren, President and CEO of Wärtsilä said: “The third quarter was characterised by the strong development in order intake. In the power generation markets customers are gradually beginning to commit to investments. The improved activity levels especially for smaller orders, combined with the 139 MW order we received from Mexico and the 112 MW order from North Dakota, resulted in a 47% increase in Power Plants’ order intake.

“In the marine markets the recent activity in LNG and LPG carriers has supported the ordering of gas handling systems. The 24% increase in Ship Power’s order intake was further enhanced by good activity in the cruise markets. I am confident that the positive trend in order development will continue during the upcoming quarter.

“Third quarter net sales and profitability developed in line with our expectations. I am especially pleased that Services’ net sales grew by 9%, which shows that our focus on growth is paying off. Profitability reached 12.7% partly thanks to the ongoing efficiency program, which resulted in savings of EUR 10 million in the third quarter. Profitability has developed well thus far in 2014, reaching 11.5% for the period January-September, and consequently we raise our full year profitability guidance to 11.5-12.0%.”

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