Wärtsilä Corporation Financial statements bulletin 2014

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.

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