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Order intake

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Wärtsilä’s first quarter order intake totalled EUR 1,507 million (1,413), an increase of 7% over the corresponding period last year. The first quarter book-to-bill ratio was 1.41 (1.41).

Order intake for the Services business was stable at EUR 737 million (735). During the quarter, Wärtsilä signed a 5-year optimised maintenance agreement with Hidrovias do Brasil for a fleet of eight pusher tugs operating in the challenging rivers of South America. Wärtsilä also received a sizeable order to equip a fleet of 30 container vessels with Wärtsilä open loop scrubber systems.

Order intake for Energy Solutions increased by 2% to EUR 414 million (405). The most active markets were Asia and the Americas. Significant orders received from these regions included a 211 MW smart power generation plant in South Australia, a 128 MW gas plant in New Orleans, and two new liquid fuel projects in Bangladesh of 100 and 105 MW. In addition to power generation solutions, energy storage and grid management software orders were received for projects in Hungary and Portugal.

Marine Solutions’ order intake totalled EUR 357 million (273), an increase of 31% compared to the corresponding period last year. Among the orders received was the supply of volatile organic compounds (VOC) recovery technology, LNG fuel gas handling systems, and the auxiliary engines for two new shuttle tankers being built for Singapore based AET Tankers. The ships will operate primarily on liquefied natural gas (LNG), enabling a significant reduction in CO2 emissions. VOC – the gas evaporating from the oil cargo tanks – will also be utilised as fuel by mixing it with the LNG, thereby reducing the vessels’ bunkering needs. The first quarter order intake also included solutions for the remaining two shuttle tankers from an order received in December 2017 to supply four such vessels to TEEKAY. The vessels will feature a wide range of Wärtsilä’s latest technology innovations, which enables them to reach a new level of economic and ecological performance. The conventional merchant segment accounted for 43% of the first quarter order intake, while cruise and ferry represented 40%. The navy segment's share was 6%. The gas carrier segment’s share represented 5%, special vessels 5%, and offshore 2% of the total.

 

Order intake by business
MEUR 1-3/2018 Restated
1-3/2017
Change Restated
2017
Services 737 735 0% 2 670
Energy Solutions 414 405 2% 1 685
Marine Solutions 357 273 31% 1 288
Order intake, total 1 507 1 413 7% 5 644
Due to the internal reorganisation of service activities, EUR 49 million was transferred from Marine Solutions to Services in the figures for the first quarter of 2017 and EUR 190 million for the full year.
Order intake Energy Solutions
MW 1-3/2018 1-3/2017 Change 2017
Oil 399 210 90% 1 838
Gas 429 622 -31% 1 938
Order intake, total 828 832 0% 3 775

Order intake in joint ventures

Order intake in the Wärtsilä Hyundai Engine Company Ltd joint venture in South Korea, and in the Wärtsilä Qiyao Diesel Company Ltd and CSSC Wärtsilä Engine Company Ltd joint ventures in China totalled EUR 49 million (24) during the review period January-March 2018. The results of these companies are reported as a share of the result of associates and joint ventures.

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