Wärtsilä Corporation Financial statements bulletin 2015

Net sales

Wärtsilä’s net sales for the fourth quarter increased by 3% to EUR 1,590 million (1,549) compared to the corresponding period last year. Net sales for Energy Solutions decreased by 14% to EUR 374 million (433). Marine Solutions’ net sales totalled EUR 598 million (552), 8% higher than in the corresponding quarter last year. Net sales from the Services business increased by 10% to EUR 619 million (564), mainly due to increased project deliveries.

Net sales for January-December 2015 developed in line with guidance, increasing by 5% to EUR 5,029 million (4,779), primarily due to improved service volumes. Net sales development for the Energy Solutions and Marine Solutions businesses was stable, totalling EUR 1,126 million (1,138) and EUR 1,720 million (1,702) respectively. Net sales from the Services business increased by 13% to EUR 2,184 million (1,939), supported by good development in all areas. Of the total net sales, Energy Solutions accounted for 22%, Marine Solutions for 34% and Services for 43%.

Of Wärtsilä’s net sales for January-December 2015, approximately 64% was EUR denominated, 21% USD denominated, with the remainder being split between several currencies.

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Net sales by business
MEUR 10-12/2015 10-12/2014 Change 1-12/2015 1-12/2014 Change
Energy Solutions 374 433 -14% 1 126 1 138 -1%
Marine Solutions1 598 552 8% 1 720 1 702 1%
Services 619 564 10% 2 184 1 939 13%
Net sales, total 1 590 1 549 3% 5 029 4 779 5%
1 Marine Systems International's contribution to net sales was EUR 108 million in the fourth quarter of 2015 and EUR 263 million in the review period January-December.

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