Wartsila less dour on marine business

JULY 20, 2017 — Wärtsilä reported second quarter and half year results that included increases in order intake, net sales and earnings per share.

Wärtsilä expects its overall development in 2017 to be relatively unchanged from the previous year.

The company is slightly less pessimistic than previously about the marine market, raising its expectations for its Marine Solutions business to “solid” from “soft,” thanks to a favorable vessel contracting mix.

“The general marine market environment remains challenging,” says Wärtsilä, “as the merchant, gas carrier, and offshore segments continue to suffer from overcapacity, slow trade growth, and the financial constraints of customers.”

“Wärtsilä’s ambition is to become an agile technology company dedicated to improving customers’ operations by being a leader in smart marine and smart energy ecosystems,” says Jaakko Eskola, President and CEO. “The recent acquisitions of Eniram and Greensmith, as well as our cleantech innovations, demonstrate our active role in enabling sustainable societies and in helping customers to benefit from smart technologies. To support the development of our digital services and products, we are launching digital acceleration centers where promising ideas are developed and co-created into service concepts and products together with customers and partners. I am confident that the investments into our company-wide digital transformation will drive new business opportunities, ultimately strengthening our competitive positioning, and supporting our long-term target of profitable growth.”

MORE