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Order intake

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Wärtsilä’s second quarter order intake totalled EUR 1,553 million (1,363), an increase of 14% over the corresponding period last year. The second quarter book-to-bill ratio was 1.25 (1.06).

Order intake for the Services business increased by 22% to EUR 785 million (641) in the second quarter of 2018. During the quarter, Wärtsilä received a EUR 170 million order for hybrid scrubber systems and retrofit services from a major European container shipping company. Wärtsilä also received an order from Finnish Rail (VR) for reconditioning and test running of over 200 diesel engines on 191 locomotives.

Second quarter order intake for Energy Solutions was stable at EUR 360 million (361). Demand was strongest in Asia, where received orders included equipment deliveries of 113 MW to Bangladesh and 145 MW to Myanmar.

Marine Solutions’ second quarter order intake totalled EUR 409 million (361), an increase of 13% compared to the corresponding period last year. The demand for environmental solutions continued in the quarter, with a considerable number of scrubber systems ordered for newbuild vessels. In the cruise and ferry segment, which represented 20% of the order intake, Wärtsilä received orders for several options contracted by major cruise companies. Ordering was active also in the gas carrier segment, which accounted for 22% of orders received. Wärtsilä passed a significant milestone with the 100th order for its Fuel Gas Supply System (LNGPac). The Wärtsilä LNGPac has played a key role in establishing the viability of LNG as a marine fuel. The conventional merchant segment’s share of order intake was 37%. The offshore segment’s share was 11%, while navy represented 2% and special vessels 2%. Other orders accounted for 6% of the total.

The total order intake for the review period January-June 2018 increased by 10% to EUR 3,060 million (2,776). The book-to-bill ratio for the review period was 1.32 (1.21). Services’ order intake amounted to EUR 1,522 million (1,376), an increase of 11%. Energy Solutions’ order intake was in line with the previous year at EUR 773 million (766). Marine Solutions’ order intake increased by 21% to EUR 766 million (634).

Order intake by business
MEUR 4-6/2018 Restated
4-6/2017
Change 1-6/2018 Restated
1-6/2017
Change Restated
2017
Services 785 641 22% 1 522 1 376 11% 2 670
Energy Solutions 360 361 0% 773 766 1% 1 685
Marine Solutions 409 361 13% 766 634 21% 1 288
Order intake, total 1 553 1 363 14% 3 060 2 776 10% 5 644
Due to the internal reorganisation of service activities, EUR 42 million was transferred from Marine Solutions to Services in the figures for the second quarter of 2017 and EUR 190 million for the full year.
Order intake Energy Solutions
MW 4-6/2018 4-6/2017 Change 1-6/2018 1-6/2017 Change 2017
Oil 279 478 -42% 678 688 -1% 1 838
Gas 487 505 -4% 916 1 127 -19% 1 938
Renewables 42 - 100% 42 - 100% -
Order intake, total 808 984 -18% 1 636 1 815 -10% 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, CSSC Wärtsilä Engine Company Ltd, and CSSC Wärtsilä Electrical & Automation Co. Ltd joint ventures in China totalled EUR 113 million (26) during the review period January-June 2018. The results of these companies are reported as a share of the result of associates and joint ventures.

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