Independent journal on economy and transport policy
21:27 GMT+2
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The second quarter of the group blames the impact of the pandemic on the group's activities
Steady revenues. Operating profit and net profit down -49% and -63%
July 17, 2020
In the industry systems business alone maritime authorities, wartsil' has registered new orders for 391 million euros (-38%) Marine Power, which deals with development and implementation of engines, propulsion systems, hybrid technologies and integrated systems, and for 119 million euros (-40%) Marine Systems, which makes products, solutions maritime services. As of June 30, the value order book of the two business segments was equal to 1.91 billion euros (-3%) respectively and 903 million euros (-39%).
Marine Power's division has filed the second quarter of this year with revenues of 420 million euro (-6%) and an operating profit of 21 million euros (-60%), while Marine Sustems division reported revenues EUR 238 million (up 1%) and an operating profit of 26 million euro (up 31%).
"The negative impact of the Covid-19 on our business and those of our customers -- commented the president and CEO of The Hartsil, Jaakko Eskola - is increased during the second quarter. This has been clearly highlighted in the decrease in orders received from all business segments. The drop in demand - specified Eskola - has been particularly relevant in the field of cruises, as travel bans and other travel bans and other limiting measures have forced inactivity most ships. Customer interest in investment in scrubbers was another element of weakness due to turbulence in global oil markets. In the energy sector, customers continued to be reluctant commit to new investment."
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In the industry systems business alone maritime authorities, wartsil' has registered new orders for 391 million euros (-38%) Marine Power, which deals with development and implementation of engines, propulsion systems, hybrid technologies and integrated systems, and for 119 million euros (-40%) Marine Systems, which makes products, solutions maritime services. As of June 30, the value order book of the two business segments was equal to 1.91 billion euros (-3%) respectively and 903 million euros (-39%).
- Via Raffaele Paolucci 17r/19r - 16129 Genoa - ITALY
