Development in 2012

The stable services market development continued in during 2012. Development in the power plants and offshore markets continued to be strong. From a regional perspective, the market was still the most active in the Middle East and Asia. At the end of the year, Wärtsilä's installed base was 181,200 MW, representing an increase of 1% compared to the previous year. The installed power plants base continued to increase during 2012, while the marine installed base showed a slight decline due to the scrapping of older merchant vessels with large 2-stroke engines.

In 2012, Services' net sales grew by 5% and reached an all time high level of EUR 1,908 million, which represents 40% of Wärtsilä's total net sales. This increase relates to the growth in the installed engine base, as well as the wide services offering aimed at reducing our customers' operating expenses and increasing the availability of their equipment. The Services order intake totalled EUR 1,961 million (1,909). Interest in service agreements was high during the year. Wärtsilä Services signed major service agreements for power plants in Kenya, Timor-Leste, South Africa, Brazil, the USA and Jordan. Within the marine industry, Wärtsilä was also awarded service agreements by Princess Cruise Lines Ltd and Prestige Cruise Holdings, Inc.


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