Net sales and profitability developed well in a challenging market environment
"Our operations developed in line with our expectations during the third quarter. Net sales grew by 11% to EUR 1,209 million and profitability was 11.4%. With better visibility on net sales development, we specify our sales growth guidance to 0-5%, while our profitability estimate remains unchanged at around 11%.
Uncertainties in the global economy and fluctuations in emerging market currencies have caused power plant customers to delay decision-making, which has impacted our overall order intake development. In the marine markets, we see good activity across all the main vessel segments. The focus on fuel efficiency and competitive newbuilding prices are supporting investments in the merchant segment, while offshore markets remain active. Services net sales development was steady, which reflects the overall stability of the service market. Wärtsilä signed several long-term service agreements during the quarter and we see further opportunities in this area."
BJÖRN ROSENGREN President & CEO