Independent journal on economy and transport policy
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Marked decrease of the recorded economic results from Wärtsilä Corporation
In decided bending also the new acquired orders from the Finnish group
January 30, 2020
In the 2019 revenues of the Finnish group Wärtsilä Corporation they have turned out pairs to those of the exercise anniversary precedence being piled to 5,17 billion euros. The operating result has instead marked a decided decrease of the -33,3% attesting itself to 362 million euros so as the profit clearly that it is come down of the -43,5% to 218 million euros. "Year 2019 - it has explained the president and managing director of the group, Jaakko Eskola - is characterized by difficulty as for the question and mediocre financial results. In spite of the increase of the volumes it is of deliveries of marine equipments that of services have been translate for the group in a clearly stable turnover, our operating result has been very beneath of the year precedence. The performances - it has specified Eskola - have deteriotated in the second half of the year because of an increment of the costs of some complexes marine and energetic projects, that they are caused by inaccurate forecasts of the costs, an insufficient risk assessment and by problems correlated to the suppliers. The bending of the deliveries in energetic field and the impact of strike of three days in Finland of the union of the industry in the December course has ulteriorly weighed on our operating result".
In the solo fourth trimester of the 2019 revenues of the group they have recorded a rise of +9.9% regarding the correspondent period of the year precedence having been it are pairs to 1,68 billion euros. Operating result and economic result clearly have continued to mark clean decrements being are pairs respective to 164 million euros (- 20.4%) and 102 million euros (- 33.3%).
In the period October-December last year the value of the new acquired orders from Wärstilä is diminished considerably also that has totaled 1,55 billion euros (- 17.0%). The value of the pocketbook orders on December 31, 2019 turned out pairs to 5,88 billion euros, down of the -4,7% on on December 31, 2018. In the entire year the 2019 new orders confiscated from the group are piled to 5,33 billion euros, with a reduction of the -15,5% on 2018.
The single section of the technologies, equipments and systems for the marine field of the Finnish group has closed year 2019 with revenues in increase of +18% attesting to 3,33 billion euros, while the produced operating result from the division has shown a decrease of the -32% being come down to 237 million euros. Last year the division Marine has obtained new orders for a total of 3,52 billion euros (- 11%) and the value of the orderbook on 31 December turned out pairs to 3,80 billion euros (+4%).
In the solo last Marine trimester of the 2019 division has recorded revenues pairs to 1,68 billion euros (+10%) and an operating profit of 99 million euros (- 42%). In the period the new orders have totaled 951 million euros (- 8%).
Jaakko Eskola has found that "in the fourth trimester the acquisition of orders of equipments is in the field marine that in that of the energy has turned out in increase, but - it has specified - he has not been sufficient to elevate the level of the orders to that of the year precedence. In the marine markets - it has observed Eskola - the naval contracts have been inferior to the initial forecasts, above all because of the worries tied to the implications of the geopolitical developments on the marine commerce. Moreover the question of scrubber is diminished regarding the levels exceptionally elevated of the year precedence because of the relative uncertainty to the price and the naval fuel availability. In this context - it has emphasized the president and CEO of Wärtsilä - we can be satisfied of the level of orders of equipments received in the marine field, that it is supported by the prosecuzione of the activity in the field of the specialized ships, which the cruise ships and the liquefied gas tankers".
Eskola has concluded specifying that a prosecuzione of the difficulties in the markets is previewed in which work the group also in the course of 2020.
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In the 2019 revenues of the Finnish group Wärtsilä Corporation they have turned out pairs to those of the exercise anniversary precedence being piled to 5,17 billion euros. The operating result has instead marked a decided decrease of the -33,3% attesting itself to 362 million euros so as the profit clearly that it is come down of the -43,5% to 218 million euros. "Year 2019 - it has explained the president and managing director of the group, Jaakko Eskola - is characterized by difficulty as for the question and mediocre financial results. In spite of the increase of the volumes it is of deliveries of marine equipments that of services have been translate for the group in a clearly stable turnover, our operating result has been very beneath of the year precedence. The performances - it has specified Eskola - have deteriotated in the second half of the year because of an increment of the costs of some complexes marine and energetic projects, that they are caused by inaccurate forecasts of the costs, an insufficient risk assessment and by problems correlated to the suppliers. The bending of the deliveries in energetic field and the impact of strike of three days in Finland of the union of the industry in the December course has ulteriorly weighed on our operating result".
- Via Raffaele Paolucci 17r/19r - 16129 Genoa - ITALY
