Wärtsilä closes the fourth quarter of 2021 with a record value of new orders

In the fourth quarter of 2021 the Finnish group Wärtsilä Corporation has forfeited new orders for a total value equal to 2.15 billion euros which constitutes an increase of +92% on the same period of the previous year and the new historical record relating to a quarterly period. In the activity segment only of power generation systems for the naval sector Wärtsilä totalled new orders for a total of 967 million euros, with an increase of +69% on the period October-December 2020, of which 659 million in the naval engine business (+50%) and 308 million in marine equipment and systems (+132%).

At 31 December last, the value of the order book of the group amounted to 5.86 billion euros, an increase +16% on 31 December 2020, of which 3.04 billion relating to the marine solutions sector (+13%), included 1.99 billion in the engine segment (+8%) and 1.04 billion in that of equipment and systems (+22%).

In the last quarter of last year the Finnish group recorded revenues of 1.60 billion euros (+31%), of which 810 million in the naval segment (+23%), an operating profit of 144 million euros (+60%), with a contribution of 82 million from the business naval (+44%), and a net profit of 85 million euros (+54%).

In the full year 2021, revenues amounted to 4.78 billion euros, with a growth of +4% on the year previous, of which 2.52 billion from the naval sector (-2%) with a contribution of 1.86 billion from the engine segment (+7%) and 654 billion millions from that of naval equipment and systems (-19%). Group operating profit was 314 million euros (+55%) and net profit of 193 million euros (+45%).

Commenting on the evolution of the naval market during 2021, the chairman and CEO of Wärtsilä, Håkan Agnevall, specified that the group found "levels of different activities in different segments of ships. The trend of ship orders - he explained - is overall improved, largely towed by container ships. In the at the same time the activity in our main naval segments is remained relatively low, particularly in the important sector of cruises. In the second half of the year, progress has been made in the vaccination programs against Covid-19 and the revocation of travel restrictions have accelerated the reactivation of fleets of cruise ships and ferries. The capacity of the Active cruise fleet has increased from about 20% to end of June at about 70% at the end of December, which supports our future service activities. However, the new variants of Covid-19 threaten the recovery".