Wärtsilä Corporation Interim Report q3 2014

Net sales

Wärtsilä’s net sales for the third quarter decreased by 7% to EUR 1,117 million (1,199) compared to the corresponding period last year. Net sales for Power Plants totalled EUR 282 million (421), a decrease of 33%. Ship Power’s net sales for the third quarter totalled EUR 363 million (343), which is 6% higher than for the corresponding quarter last year. Net sales from the Services business increased by 9% to EUR 472 million (435). The Services sales mix saw an increase in revenues from spare parts and projects.

Net sales for January-September 2014 remained stable at EUR 3,230 million (3,203). Power Plants’ net sales totalled EUR 705 million (991), a decrease of 29%. Ship Power’s net sales increased by 30% and totalled EUR 1,150 million (884). Net sales from the Services business totalled EUR 1,375 million (1,334), an increase of 3%. Of the total net sales, Power Plants accounted for 22%, Ship Power for 36% and Services for 43%.

Of Wärtsilä’s net sales for January-September 2014, approximately 67% was EUR denominated, 17% USD denominated, with the remainder being split between several currencies.

Net sales by business
MEUR 7-9/2014 Restated
7-9/2013
Change 1-9/2014 Restated
1-9/2013
Change Restated
2013
Power Plants 282 421 -33% 705 991 -29% 1 459
Ship Power1 363 343 6% 1 150 884 30% 1 309
Services 472 435 9% 1 375 1 334 3% 1 842
Other2 1 -6 -2
Net sales, total 1,117 1 199 -7% 3,230 3 203 1% 4 607
Discontinued operations 16 10 60% 47 40 18% 48
1 The comparison figures have been adjusted to reflect the combination of PowerTech and Ship Power, which became effective on 1 January 2014.
2 Other comprises hedges, which have not been allocated to the businesses.

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