Wartsila profit, order intake up in Q2

Finnish engine maker Wärtsilä reported a rise in quarterly order intake, saying the market demand had improved for its marine solution business.

Wärtsilä’s bookings of new orders in the second quarter rose 14 percent from a year earlier to 1.36 billion euros ($1.57 billion).

The Finnish LNG specialist said in a statement on Thursday its adjusted operating profit increased 3 percent to 126 million euros, while the company’s second-quarter revenue was up 8 percent to 1.29 billion euros.

Wärtsilä’s current order book for 2017 deliveries stands at 2.08 billion euros.

“The first half of 2017 was characterised by good development in net sales, largely due to an increase in the number of power plant deliveries, as well as by solid earnings,” said Chief Executive Jaakko Eskola.

According to Eskola, order intake “developed well” in all business areas.

“The power plant project pipeline has continued to materialise into orders at a healthy pace, thanks to the growing interest in flexible, gas-fired technologies,” he said.

“Furthermore, although the marine markets remain challenging, a favourable vessel contracting mix supported the development of Marine Solutions’ orders received, particularly in the second quarter. Activity in the service markets was broadly stable, with healthy demand for long-term agreements,” added Eskola.