Market outlook

The general economic uncertainty and the slow global growth projections are expected to continue to impact 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 that of 2012. In 2013 ordering activity is expected to remain centered 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 market in 2013 is cautious, although slightly better than in 2012. The contracting outlook remains challenging for certain ship types, such as bulk carriers, due to the remaining overcapacity. Overall, the contracting mix is expected to be in line with that seen in 2012, favouring offshore and specialised vessel segments. Interesting opportunities can be seen in environmental solutions and fuel efficient designs.

The overall service market outlook remains stable. The outlook for the Middle East and Asia continues to be slightly more positive, while Southern Europe is likely to present more challenging conditions in line with overall economic development. An increase in the installed power plants base, compared to the marine sector, provides a better outlook for services to the power segment. The outlook for services to the marine sector remains, however, stable and is supported by the continued positive outlook for the offshore sector.


Wärtsilä's prospects for 2013

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%.


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