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Annual Report 2013

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Order intake

Wärtsilä’s third quarter order intake totalled EUR 1,139 million (1,086), an increase of 5% over the corresponding period last year. The third quarter book-to-bill ratio was 1.06 (0.89).

The order intake for Energy Solutions totalled EUR 330 million (167) in the third quarter, which was 97% more than for the corresponding period last year. The Americas was the most active region in terms of ordering activity. Among the more significant orders received were a 92 MW equipment delivery contract and a 100 MW turnkey contract to Argentina, as well as a 225 MW equipment delivery contract to the USA.

Marine Solutions’ third quarter order intake totalled EUR 287 million (407), a decrease of 29% compared to the corresponding period last year. Activity favoured the cruise and ferry segment, where Wärtsilä received an order to supply two new generation Wärtsilä 31 main engines to a new car and passenger ferry being built for the Danish operator Mols-Linien. The Wärtsilä 31 was also selected as the main engine for a fishing vessel being built by the Danish shipbuilder Karstensen Shipyard for Peter Hepsø Rederi AS of Norway. In addition to the main engine, Wärtsilä will also supply the complete propulsion system for this vessel. In the gas carrier market, Wärtsilä was contracted to supply the re-gasification system for an FSRU conversion project that Höegh LNG plans to carry out on a modern LNG vessel. Cruise and ferry represented 37% of the third quarter order intake and the conventional merchant segment accounted for 18%. The gas carrier segment’s share was 15%. Special vessels represented 14%, navy 8%, and the offshore segment 3% of the total. Other orders accounted for 5%.

Third quarter order intake for the Services business increased by 2% to EUR 522 million (511). Signed contracts included the extension of Wärtsilä’s long-term maintenance agreement with Rederiaktiebolaget Eckerö to cover Eckerö’s entire fleet of five vessels.

The total order intake for the review period January-September 2016 increased by 2% to EUR 3,604 million (3,529). The book-to-bill ratio for the review period was 1.11 (1.03). Energy Solutions’ order intake increased by 47% to EUR 947 million (642). Marine Solutions’ order intake decreased by 9% to EUR 1,028 million (1,134). Services’ order intake totalled EUR 1,629 million (1,752), a decrease of 7%.

Order intake by business
MEUR 7-9/2016 7-9/2015 Change 1-9/2016 1-9/2015 Change 2015
Energy Solutions 330 167 97% 947 642 47% 1 009
Marine Solutions 287 407 -29% 1 028 1 134 -9% 1 599
Services 522 511 2% 1 629 1 752 -7% 2 324
Order intake, total 1 139 1 086 5% 3 604 3 529 2% 4 932
Order intake Energy Solutions
MW 7-9/2016 7-9/2015 Change 1-9/2016 1-9/2015 Change 2015
Oil 205 394 -48% 1 503 1 082 39% 1 303
Gas 465 71 557% 1 053 605 74% 1 132
Order intake, total 670 465 44% 2 555 1 687 51% 2 436

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 and CSSC Wärtsilä Engine Company Ltd joint venture companies in China totalled EUR 57 million (163) during the review period January-September 2016. The results of these companies are reported as a share of result of associates and joint ventures.

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