Net sales
Wärtsilä’s net sales for the fourth quarter increased by 10% to EUR 1,549 million (1,403) compared to the corresponding period last year. Net sales for Power Plants totalled EUR 433 million (468), a decrease of 8%. Ship Power’s net sales for the fourth quarter totalled EUR 552 million (425), which is 30% higher than for the corresponding quarter last year. Net sales from the Services business reached an all-time high, increasing by 11% to EUR 564 million (507).
Net sales for January-December 2014 increased by 4% to EUR 4,779 million (4,607), which is in line with the guidance of around 5% growth. 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 (1,459). Ship Power’s net sales increased by 30% and totalled EUR 1,702 million (1,309). Net sales from the Services business amounted to EUR 1,939 million (1,842), an increase of 5%. The Services sales mix saw an increase in revenues from spare parts and projects. Of the total net sales, Power Plants accounted for 24%, Ship Power for 36% and Services for 41%.
Of Wärtsilä’s net sales for January-December 2014, approximately 67% was EUR denominated, 19% USD denominated, with the remainder being split between several currencies.
| Net sales by business | ||||||
| MEUR | 10-12/2014 | Restated 10-12/2013 | Change | 1-12/2014 | Restated 1-12/2013 | Change |
| Power Plants | 433 | 468 | -8% | 1 138 | 1 459 | -22% |
| Ship Power1 | 552 | 425 | 30% | 1 702 | 1 309 | 30% |
| Services | 564 | 507 | 11% | 1 939 | 1 842 | 5% |
| Other2 | 4 | -2 | ||||
| Net sales, total | 1,549 | 1 403 | 10% | 4,779 | 4 607 | 4% |
| Discontinued operations | 13 | 8 | 72% | 60 | 48 | 27% |
| 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. | ||||||