Wärstilä announces a new reduction of the staff with the cut of about job 600 places



The Finnish group Wärstilä Corporation has announced an ulterior cut of places of work. The company has communicated today to have renamed the division Ship Power, that it groups the activities of the group in the segment of the naval propulsion, assigning them the new name of Marine Solutions and to have planned I rearrange of the organization, the activities and the resources in response to the slow down of the total market in the marine field. Such reorganization - it has specified the company - will have an impact on the staff in all the sections of activity of the Marine Solutions division and will involve the reduction of about job 600 places, of which about 160 in Finland, that it will be put into effect partially through the resource to retirements.

Communicating this new reduction of the occupation, that it follows at the beginning that relative to job one thousand places announced last year ( on 29 January 2014), Wärstilä has specified that these new measures will allow annual savings for about 40 million euros, economic effect that will gradually realize beginning from the third trimester of 2015 and will have flood effectiveness from the end of 2016. The determined extraordinary burdens from this restructure will be of about 25-30 million euros.

"The naval field - it has explained Jaakko Eskola, president of Marine Solutions and senior vice executive president of Wärstilä Corporation - is being resumed to hard work from world-wide the economic crisis and the contract volume new in the shipbuilding field is limited. Meanwhile the offshore industry of the oil and the gas has recorded the impact negative of the decrease of the price of the oil. Moreover sussistono risks correlated to the negotiations in existence by the shipowners in order to delay the taken one in delivery of commissioned ships. The arranged effect of these developments has determined a difficult situation of market for the entire naval field".

"These painful measures of adaptation of the ability - it has continued Eskola - must be located in existence in the current situation of low level of the question to the aim to allow us to maintain our competitive position in the total market. In spite of this rationalization of the organizational order - it has assured Eskola - our engagement towards our customers remains absolutely considerable".

While the Finnish group has archived item the second trimester of this year with a profit clearly of 109 million euros regarding 83 million euros in the period April-june of 2014 (given - this last one - riclassificato taking into consideration the classification of the activities of the group in the field of the two-stroke engines which stopped operating activities as a result of the constitution of joint venture in this segment of activity with Chinese CSSC, on 18 July 2014). The turnover clearly has recorded an increment of +9% attesting itself to 1,23 billion euros regarding 1,13 billion euros in according to trimester of 2014. The operating profit is piled to 137 million euros (+12%).

In according to trimester of this year Wärtsilä group it has confiscated new orders for a value pairs to 1,16 billion euros, in increase of +2% on the same period of 2014. The value of the orderbook on 30 June was pairs to 5,32 billion euros, advanced of +20% regarding 4,42 billion euros on June 30, 2014.

In entire the first semester of the 2015 group it has totaled a profit clearly of 173 million euros on revenues for 2,22 billion euros, with increments respective of +7% and +5% regarding the first half last year. The operating result has been pairs to 237 million euros (+3%). In the first six months of this year the new orders collected from Wärtsilä have been pairs to 2,44 billion euros regarding 2,25 billion in the period January-june of 2014.

In the first semester of this year the single Marine Solutions division has signed 458 relative contracts to new ships, with a decrease of the -53% about regarding 973 contracts in the first half of 2014. The value of these store clerks turns out pairs to 728 million euros, in bending of the -12% regarding 823 million euros in the first semester last year. The division clearly has archived item the first semester of 2015 with a turnover of 674 million euros (- 14%).

In the second solo trimester of the 2015 value of the new orders of the Marine Solutions division has recorded a resumption having been itself attested to 392 million euros, in increase of +2% regarding 383 million euros in the period April-june last year, while the turnover clearly has turned out decreasing of the -15% being is pairs to 354 million euros regarding 415 million euros in according to trimester of 2014. The value of the orderbook of the division on 30 June was pairs to 2,79 billion euros, with an increase of +25% regarding 2,23 billion euros on June 30, 2014.