WÄRTSILÄ INTERIM REPORT JANUARY-MARCH 2013
(Thomson Reuters ONE) -
Wärtsilä Corporation INTERIM REPORT 18 April 2013 at 8.30 a.m. local time
STRONG GROWTH IN ORDER INTAKE
HIGHLIGHTS OF THE REVIEW PERIOD JANUARY-MARCH 2013
- Order intake increased 22% to EUR 1,352 million (1,109)
- Net sales decreased 12% to EUR 882 million (1,005)
- Book-to-bill 1.53 (1.10)
- Operating result EUR 70 million, or 8.0% of net sales (EUR 102 million or
10.1%)
- EBITA EUR 79 million or 8.9% of net sales (EUR 109 million or 10.9%)
- Earnings per share 0.37 euro (0.33)
- Cash flow from operating activities EUR 84 million (28)
- Order book at the end of the period increased by 13% to EUR 4,998 million
(4,409)
BJÖRN ROSENGREN, PRESIDENT AND CEO
"The beginning of 2013 developed according to our expectations. Order intake
grew by 22%, thanks to good development in both Power Plants and Ship Power,
especially in the offshore segment. First quarter net sales and profitability
were impacted by the anticipated low level of deliveries, mainly due to timing
of projects. Interest in natural gas based power generation continued and Power
Plants received significant orders from Jordan and USA. In Ship Power, the
offshore and specialised vessel markets remained robust. Strategically important
orders were received for exhaust gas cleaning systems, and for comprehensive
solutions packages from the offshore industry. There is continued interest in
service agreements in the marine industry, as evidenced by the maintenance
agreement signed for 'Viking Grace', the largest passenger ferry ever to operate
on liquefied natural gas. Supported by our solid order book and the stable
Services business, our prospects for 2013 remain unchanged."
KEY FIGURES
Restated Restated
MEUR 1-3/2013 1-3/2012 Change 2012
-------------------------------------------------------------------------------
Order intake 1 352 1 109 22% 4 940
Order book at the end of the period 4 998 4 409 13% 4 492
Net sales 882 1 005 -12% 4 725
Operating result (EBITA)(1) 79 109 552
% of net sales 8,9 10.9 11.7
Operating result (EBIT)(2) 70 102 -31% 517
% of net sales 8.0 10.1 10.9
Profit before taxes 96 93 453
Earnings/share, EUR 0.37 0.33 1.72
Cash flow from operating activities 84 28 153
Net interest-bearing debt at the end of the
period 668 615 567
Gross capital expenditure 25 413 513
Gearing 0.42 0.41 0.32
-------------------------------------------------------------------------------
1 EBITA is shown excluding non-recurring items of EUR 1 million (7) and
intangible asset amortisation of EUR 8 million (8) related to acquisitions.
2 EBIT is shown excluding non-recurring items.
MARKET OUTLOOK
The general macroeconomic uncertainty and the slow global growth projections are
expected to continue to impact the global power generation markets. It is
expected that the overall market for natural gas and liquid fuel based power
generation in 2013 will be similar to 2012. In 2013 ordering activity is
expected to remain focused on the emerging markets, which continue to invest in
new power generation capacity. In the OECD countries, there is still pent-up
power sector demand, mainly driven by CO2 neutral generation and the ramp down
of older, mainly coal-based generation.
Our outlook for the shipping and shipbuilding markets in 2013 is cautious,
although market conditions are expected to be better than in 2012. Despite the
recent pick up in orders, financing and overcapacity related issues are still
visible in the traditional merchant markets. The orders placed in these markets
focus more on fuel-efficient design and technology. Current emission regulations
create interesting opportunities for environmental solutions. The contracting
mix is expected to be in line with that seen in 2012, favouring contracting in
the offshore and specialised vessel segments. The outlook for gas demand remains
healthy, and the attractiveness of LNG as a fuel is supported by its low carbon
intensity, global trade, and pricing.
The overall service market outlook remains stable despite the slower start in
2013 compared to 2012. A continued increase in the medium-speed engine and
propulsion installed base helps to balance the market environment in regions
such as Europe, where the market is expected to remain challenging - especially
on the marine side. The outlook for the Middle East and Asia continues to be
slightly more positive, supported by interest in power plant related service
projects. The outlook is also good in the Americas, where there is a mix of
marine and power customers. The outlook for offshore services remains positive.
WÄRTSILÄ'S PROSPECTS FOR 2013 UNCHANGED
Wärtsilä expects its net sales for 2013 to grow by 0-10% and its operational
profitability (EBIT% before non-recurring items) to be around 11%.
DISCLOSURE PROCEDURE
Wärtsilä Corporation follows the disclosure procedure enabled by Standard 5.2b
published by the Finnish Financial Supervision Authority. This stock exchange
release is a summary of Wärtsilä Corporation's Interim Report January-March
2013. The complete report is attached to this release in pdf format. The report
is also available in Wärtsilä's web-based report system at
http://www.wartsilareports.com/en-US/2013/q1/frontpage/ and on the company
website at www.wartsila.com/investors.
ANALYST AND PRESS CONFERENCE AT 10.00 A.M. LOCAL TIME
An analyst and press conference will be held on Thursday 18 April 2013 at 10.00
a.m. Finnish time (8.00 a.m. UK time), at the Wärtsilä headquarters in Helsinki,
Finland. The combined web- and teleconference will be held in English and can be
viewed on the internet at the following address:
http://wcc.webeventservices.com/r.htm?e=604978&s=1&k=EA232CDE570D7B4382BEDAEE6F9
DE426.
To participate in the teleconference please register at the following address:
http://emea.directeventreg.com/registration/32537292. You will receive dial-in
details by e-mail once you have registered. If problems occur, please press *0
for operator assistance. Please use *6 to mute the sounds from your phone during
the teleconference and the same code to unmute.
An on-demand version of the webcast will be available on the company website
later the same day.
For further information, please contact:
Raimo Lind
Executive Vice President & CFO
Tel: +358 10 709 5640
raimo.lind(at)wartsila.com
Natalia Valtasaari
Director, Investor Relations
Tel: +358 40 187 7809
natalia.valtasaari(at)wartsila.com
For press information, please contact:
Atte Palomäki
Group Vice President, Communications & Branding
Tel: +358 40 547 6390
atte.palomaki(at)wartsila.com
Wärtsilä in brief
Wärtsilä is a global leader in complete lifecycle power solutions for the marine
and energy markets. By emphasising technological innovation and total
efficiency, Wärtsilä maximises the environmental and economic performance of the
vessels and power plants of its customers. In 2012, Wärtsilä's net sales
totalled EUR 4.7 billion with approximately 18,900 employees. The company has
operations in nearly 170 locations in 70 countries around the world. Wärtsilä is
listed on the NASDAQ OMX Helsinki, Finland.
Interim Report January-March 2013:
http://hugin.info/131481/R/1693986/557034.pdf
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Wärtsilä Oyj Abp via Thomson Reuters ONE
[HUG#1693986]
Unternehmensinformation / Kurzprofil:
Datum: 18.04.2013 - 07:32 Uhr
Sprache: Deutsch
News-ID 250216
Anzahl Zeichen: 9355
contact information:
Town:
Helsinki
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 244 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"WÄRTSILÄ INTERIM REPORT JANUARY-MARCH 2013"
steht unter der journalistisch-redaktionellen Verantwortung von
Wärtsilä Oyj Abp (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
