Wärtsilä results mixed
Jan 31 (LNGJ) - Wärtsilä, the Finnish ship-propulsion and gas systems company, said profits before taxes declined by 5 percent in the fourth quarter to 215 million euros ($268M) compared with 226M euros in the same three months of 2016. On an annual basis, pre-tax profits were up 6 percent at 506M euros versus 479M euros the previous year. Fourth-quarter order intake rose 14 percent to 1.51 billion euros and on a yearly basis orders were up 15 percent at 5.64Bln euros. “The favourable order trends seen throughout the year continued in the fourth quarter, providing us with a solid basis from which we can develop our business,” said President and Chief Executive Jaakko Eskola. Wärtsilä noted that in December 2017 it signed a cooperation agreement with French LNG storage technology company GTT to explore potential business opportunities in the marine sector in relation to LNG storage, fuel-gas supply systems and associated services.
Wartsila profits decline
Oct 25 (LNGJ) - Wartsila, the Finnish propulsion equipment and power and project company, posted a 1 percent fall in third-quarter pretax profits to 114 million euros ($134M) as net sales rose 9 percent to 1.17 billion euros from 1.07Bln euros in the same three months a year ago. “Wartsila’s performance in the third quarter was satisfactory,” said Jaakko Eskola, President and Chief Executive. “Although power plant deliveries continued to drive overall sales development, challenges in the offshore segment and low volumes from service projects resulted in lower than expected sales growth,” he added. “I am pleased with the continued growth in order intake. In addition to good demand for our power solutions, we received an order to build our third LNG terminal in Finland, which will be in Hamina,” said the CEO.
Finnish marine propulsion and LNG fuel system maker Wartsila posts fall in annual profits
Wartsila, the Finnish marine propulsion and energy and gas equipment maker in the LNG sector, posted a 13 percent fall in annual profits to 479 million euros ($511M) compared with
553M euros the previous year.
Two leading LNG players in Finland plan to cooperate on marine and terminal ventures
Finland’s two largest LNG industry participants, natural gas company Gasum and propulsion-maker Wartsila, have signed a cooperation agreement for onshore and marine ventures.
