The Finnish group Wärtsilä Corporation will cut job one thousand places



The Finnish group Wärtsilä Corporation will on 31 December leave at home 1,000 of the 18,663 dependent of the company () cutting about 200 places of job in Finland and the remainder in the foreign centers. The reduction of the staff - it has specified today the company - will have effect on all the segments of business and all the support activities.

"In a context of slow increase and intense competition - it has explained the president and managing director of Wärtsilä Corporation, Björn Rosengren - we must assume provisions in order consequently to adapt our structure of the costs. Increasing to the efficiency and the flexibility of our organization to total level we can guarantee profit and only maintain competitiveness for the future. Unfortunately - it has concluded Rosengren - the lay-offs cannot be avoided".

According to the forecasts of the company, the reduction of the staff will per year allow savings for 60 million euros, saves whose effect will beginning from manifest the end of this year, while the determined extraordinary burdens from these provisions will pile to 50 million euros, of which 11 million recorded in exercise 2013 as some measures is activated already last year.

The announcement of the cut of the staff reaches in concomitanza with the presentation of the results achieved from the Finnish group in exercise 2013, year in which by a part an light bending of the volume of transactions and the orders is recorded and from the other an increment of the profits. Last year it has been in fact archived item with revenues for 4,65 billion euros, down of the -1,5% regarding 2012. The operating profit is piled to 552 million euros (0%) and excluding the effects of the accounting norm IAS 19 relative to the pensions the operating profit turns out to be pairs to 520 million euros (+1%). The profit before taxes has been attested to 507 million euros (+12%).

In the 2013 Wärtsilä it has confiscated new orders for 4,87 billion euros, with a contraction of the -1% regarding the year precedence. The value of the pocketbook orders on 31 December era of 4,43 billion dollars, with a decrease of the -1% regarding 4,49 billion euros on December 31, 2012. Last year in the single segment of the systems of naval propulsion the group has totaled new orders for 1,66 billion euros, with an increment of +15% regarding the year precedence, and the value of orderbook of the division on 31 December the era of 2,29 billion dollars, with an increase of +8% regarding 2,13 billion euros on December 31, 2012.

In the solo fourth trimester of the 2013 Finnish group has recorded revenues for 1,41 billion euros, down of the -8% regarding 1,53 billion euros in the period October-December of 2012. The quarterly operating profit has been pairs to 208 million euros (+5%) and with exclusion of the effect of the accounting norms for the pensions to 201 million euros (+7%). The profit before taxes is gone up to 181 million euros regarding 162 million euros in the last trimester of 2012. Sul forehead of the orders, fourth trimester 2013 has been archived item with new orders for 1,35 billion euros (0%), of which 462 million euros in the segment of naval propulsion (+36%).

"The performances of Wärtsilä in 2013 - Björn Rosengren has commented - have suffered of the persistent uncertainty of the total economy. Because of some unfavorable delay and exchange rates in the deliveries, the evolution of the turnover clearly has been slightly more weak person of the waits. However the profit has remained consisting although the minor level of the sales. Graces to remarkable a fourth trimester and the control of the costs, our operating profit of the entire year has reached 11.2%. The cash flows from exercise activity very have been developed in the course of the year going up to 578 million euros. In the course of 2013 - it has emphasized Rosengren - it has been a meaningful improvement in the marine markets of the field and it has been emission of orders in all the main naval segments. In the markets of the energy the delays in the decisions of the customers are continued; this has had an impact on the orders to our group that are diminished of 1% regarding the year precedence. The market of the services has remained stable. The agreements in the long term continue to being a strategic area for the business of the services and - it has added Rosengren - I am pleased that in the course of the year contracts are signed so many".

Wärtsilä previews to record in a 2014 increment of the revenues until +10% and an increase of the operating profit before the burdens not recurrent pairs to about +11%. "Our forecasts of market for 2014 - it has specified Rosengren - remain cautious, even if some light improvement in some areas can be caught a glimpse. Based on our current one orderbook and to the projects in course in the 2014 we expect a sure increase of the turnover and profits to an analogous level to that of 2013".