Order intake

Wärtsilä’s second quarter order intake totalled EUR 1,363 million (1,194), an increase of 14% over the corresponding period last year. The second quarter book-to-bill ratio was 1.05 (1.00).

Order intake for the Services business increased by 14% to EUR 599 million (527) in the second quarter, thanks to higher demand for long-term service agreements. Orders received included the renewal of a performance-based service agreement with Norwegian Cruise Line Holdings, several operations & management agreements for power plants in Asia, as well as an agreement with Eidesvik Offshore to install a hybrid system with batteries on board the company’s Viking Princess vessel. Wärtsilä also signed its first asset management agreement for a photovoltaic power plant, in which Wärtsilä will assume full responsibility for the operation and maintenance of the Essakane solar plant in Burkina Faso.

Order intake for Energy Solutions totalled EUR 361 million (304) in the second quarter, which represents an increase of 19% from the corresponding period last year. Ordering activity was strongest in Asia, where significant orders included a 240 MW equipment delivery from Indonesia. In the developed markets, received orders included equipment deliveries for two natural gas based power plants with a total gross capacity of 188 MW from the USA.

Marine Solutions’ second quarter order intake totalled EUR 403 million (362), an increase of 11% compared to the corresponding period last year. Orders received included a contract to supply a recently launched Wärtsilä HY hybrid power system, combining engines, an energy storage system, and power electronics, to the Italian tug owner and operator Rimorchiatori Riuniti. Wärtsilä was also selected to provide its 31 main engine, the propulsion machinery, and the auxiliary engines for Research Fishing Co’s new fuel-efficient fishing vessel; as well as the waterjets, hydraulics and control system for a high-speed RoPax ferry being built for Molslinjen A/S. The cruise and ferry segment represented 39% of order intake and the gas carrier segment 25%. The conventional merchant segment’s share was 17%. The navy segment represented 9%, special vessels 6% and offshore 2%. Other orders accounted for 2% of the total.

The total order intake for the review period January-June 2017 increased by 13% to EUR 2,776 million (2,465). The book-to-bill ratio for the review period was 1.21 (1.14). Services’ order intake totalled EUR 1,285 million (1,107), an increase of 16%. Energy Solutions’ order intake increased by 24% to EUR 766 million (616). Marine Solutions’ order intake decreased by 2% to EUR 725 million (741).

Order intake by business
MEUR 4-6/2017 4-6/2016 Change 1-6/2017 1-6/2016 Change 2016
Services 599 527 14% 1 285 1 107 16% 2 194
Energy Solutions 361 304 19% 766 616 24% 1 448
Marine Solutions 403 362 11% 725 741 -2% 1 285
Order intake, total 1 363 1 194 14% 2 776 2 465 13% 4 927
Order intake Energy Solutions
MW 4-6/2017 4-6/2016 Change 1-6/2017 1-6/2016 Change 2016
Oil 478 734 -35% 679 1 298 -48% 1 929
Gas 505 284 78% 1 127 587 92% 1 584
Order intake, total 984 1 018 -3% 1 806 1 886 -4% 3 513

Order intake in joint ventures

Order intake in the Wärtsilä Hyundai Engine Company Ltd joint venture company in South Korea, and in the Wärtsilä Qiyao Diesel Company Ltd and CSSC Wärtsilä Engine Company Ltd. joint venture companies in China totalled EUR 26 million (54) during the review period January-June 2017. These companies’ results are reported as a share of the result of associates and joint ventures.


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