Service market activity developed favourably in 2015. Activity in the marine industry improved globally, supported by increased investments in maintenance activities and higher demand for propulsion upgrades and thruster retrofits. Power plant service activity developed well, thanks to increased utilisation of installations under contract and the demand for spare parts in specific regions resulting from the ageing installed base. At the end of 2015, Wärtsilä’s installed base totalled 181,000 MW. Four-stroke engines accounted for approximately 60% of the installed base and two-stroke engines for approximately 40%.

Services’ order intake for the review period increased by 14% to EUR 2,324 million. Larger service projects included an order from Shanghai Electric Power to convert the Maltese Delimara Power Station to operate on natural gas. Customer focus on the optimisation of maintenance and performance strengthened interest in long-term service agreements. The signed contracts included a 5-year technical management agreement with Golar Management Oslo for its LNG carrier fleet, and a 10-year operations and maintenance agreement for Central Generadora Electrica Huinala’s flexicycle power plant, located near Monterrey, Mexico. Net sales for the Services business reached an all-time high level of EUR 2,184 million, which represents 43% of Wärtsilä’s net sales.