Wärtsilä Corporation Annual report 2014

Power Plants development in 2014

Power generation markets were challenging throughout 2014, with macroeconomic uncertainty and slower global growth projections impacting customer decision-making. Activity improved after the summer, supported by the demand for new power plants in the emerging markets and the dollar strengthening against euro. In Wärtsilä’s main addressable market, i.e. the market for installations up to 500 MW, orders totalled 16.5 GW (25.0) during the first nine months of 2014, and Wärtsilä’s market share increased to 10.5% (7.1%).

In 2014, Power Plants' order intake was stable at EUR 1,293 million. 61% of the orders received, measured in MW, were for gas based power plants. Highlights included the order to supply a 112 MW peaking power plant to North Dakota. Other major orders were the 140 MW power plant order from Mexico, and the 120 MW order from Oman. Wärtsilä also received its first order for a turnkey LNG receiving terminal to be built in Tornio, northern Finland. Power Plants’ net sales declined by 22% due to slow order intake during the first half of the year, and totalled EUR 1,138 million. This represents 24% of Wärtsilä’s net sales.

 

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