Wärtsilä Corporation Interim Report Q2 2015

Order intake

Wärtsilä’s second quarter order intake totalled EUR 1,159 million (1,138), an increase of 2% over the corresponding period last year. Compared to the previous quarter, order intake decreased by 10% (EUR 1,285 million in the first quarter of 2015). The second quarter book-to-bill ratio was 0.94 (1.02).

Order intake for Energy Solutions totalled EUR 188 million (244), which was 23% lower than in the corresponding period last year. Compared to the previous quarter, order intake decreased by 34% (EUR 287 million in the first quarter of 2015). The main new orders came from Colombia, the USA and Turkey.

Marine Solutions’ order intake in the second quarter of 2015 totalled EUR 392 million (383), an increase of 2% over the corresponding period last year. Compared to the previous quarter, order intake increased by 17% (EUR 336 million in the first quarter of 2015). Gas carriers represented 28% of the second quarter order intake and the conventional merchant segment accounted for 14%. The offshore segment’s share was 18%, while cruise & ferry represented 24% of order intake, navy 3%, and special vessels 10%. Other orders accounted for 3% of the total.                                            

Services order intake increased by 13% to EUR 579 million (510). Compared to the previous quarter the order intake decreased by 13% (EUR 662 million in the first quarter of 2015).

The total order intake for the review period January-June 2015 was EUR 2,443 million (2,253), an increase of 8% over the corresponding period in 2014. The book-to-bill ratio for the review period was 1.10 (1.07). Energy Solutions’ order intake increased by 16% to EUR 475 million (409). Marine Solutions’ order intake decreased 12% to EUR 728 million (823). Services’ order intake totalled EUR 1,240 million (1,021), an increase of 22%.

Order intake by business
MEUR 4-6/2015 4-6/2014 Change 1-6/2015 1-6/2014 Change 2014
Energy Solutions 188 244 -23% 475 409 16% 1 293
Marine Solutions1 392 383 2% 728 823 -12% 1 746
Services 579 510 13% 1 240 1 021 22% 2 045
Order intake, total 1 159 1 138 2% 2 443 2 253 8% 5 084
1 MSI's contribution to order intake was EUR 41 million in the second quarter of 2015.
Order intake Energy Solutions
MW 4-6/2015 4-6/2014 Change 1-6/2015 1-6/2014 Change 2014
Oil 237 309 -24% 688 470 47% 980
Gas 283 281 1% 534 516 3% 1 509
Order intake, total 520 590 -12% 1 222 986 24% 2 489

Order intake in joint ventures

Order intake in the Wärtsilä Hyundai Engine Company Ltd joint venture company in South Korea and the Wärtsilä Qiyao Diesel Company Ltd joint venture company in China totalled EUR 140 million (92) during the review period January-June 2015. Wärtsilä’s share of ownership in these companies is 50%, and the results are reported as a share of the result of associates and joint ventures.

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