SERVICE ORDER INTAKE INCREASED BY 36%
This release is a summary of
HIGHLIGHTS FROM APRIL-
- Order intake increased by 25% to
EUR 1,440 million (1,154) -
Service order intake increased by 36% to
EUR 811 million (598) -
Net sales increased by 24% to
EUR 1,407 million (1,131) - Book-to-bill amounted to 1.02 (1.02)
-
Comparable operating result increased by 20% to
EUR 85 million (71), which represents 6.1% of net sales (6.3) -
Operating result increased by 29% to
EUR 75 million (58), which represents 5.3% of net sales (5.1) -
Basic earnings per share increased to
0.09 euro (0.06) -
Cash flow from operating activities decreased to
EUR -90 million (245)
HIGHLIGHTS FROM JANUARY-
- Order intake increased by 18% to
EUR 2,820 million (2,398) -
Service order intake increased by 20% to
EUR 1,543 million (1,290) -
Order book at the end of the period increased by 13% to
EUR 5,936 million (5,238) -
Net sales increased by 27% to
EUR 2,639 million (2,078) - Book-to-bill amounted to 1.07 (1.15)
-
Comparable operating result increased by 35% to
EUR 151 million (112), which represents 5.7% of net sales (5.4) -
Operating result decreased by
EUR 166 million toEUR -72 million (94), which represents -2.7% of net sales (4.5) -
Basic earnings per share decreased to
-0.16 euro (0.10) -
Cash flow from operating activities decreased to
EUR -213 million (312)
WÄRTSILÄ'S PROSPECTS
HÅKAN AGNEVALL, PRESIDENT & CEO: STRONG PERFORMANCE IN SERVICES
"The second quarter of 2022 was characterised by uncertainty in the global business environment over economic development. The sanctions on
The energy market continued to be volatile. However, the demand for balancing power is growing, and we received important orders for both thermal power and energy storage solutions. The service business in Energy performed very well, and is further supported by the recent launch of our Decarbonisation Services. In this, we utilise our sophisticated power system modelling and optimisation tools, alongside
The service business also developed well in the marine markets, thanks largely to fleet reactivation, especially in the cruise segment. Around 90% of the cruise fleet capacity was active at the end of June, and cruise port calls have reached pre-covid levels. One notable example of our success in the service business was the renewal of the optimised maintenance agreement with
Total order intake increased by 25% and service order intake by as much as 36%. The service business is growing, driven by higher utilisation of vessels and power plants. We saw very good development in services in both
On 14 July, we announced a plan to further optimise our European engine manufacturing footprint by ramping down our factory in
Today, we announced that we have completed our orderly exit from the Russian market. All adjustments and closures of
On the technology front, we continued to make good progress. We launched the
We expect the demand environment in the third quarter to be better than that of the corresponding period in the previous year. However, the prevailing market conditions make the outlook uncertain. As communicated earlier, the share of equipment sales relative to service sales will be high during 2022, and cost inflation is anticipated to remain high also in the second half of 2022. We are committed to continuous improvement and price increases to mitigate the impact of cost inflation. In the longer term, we will focus on climbing further up the service value ladder towards more value-adding performance based agreements, which improve visibility and support the profitability of our business. We also continue to see opportunities in balancing power, as the use of renewable energy accelerates."
MEUR | 4-6/ 2022 | 4-6/ 2021 | Change | 1-6/ 2022 | 1-6/ 2021 | Change | 2021 |
Order intake | 1,440 | 1,154 | 25% | 2,820 | 2,398 | 18% | 5,735 |
of which services | 811 | 598 | 36% | 1,543 | 1,290 | 20% | 2,615 |
Order book, end of period | 5,936 | 5,238 | 13% | 5,859 | |||
Net sales | 1,407 | 1,131 | 24% | 2,639 | 2,078 | 27% | 4,778 |
of which services | 696 | 588 | 18% | 1,327 | 1,128 | 18% | 2,467 |
Book-to-bill | 1.02 | 1.02 | 1.07 | 1.15 | 1.20 | ||
Operating result | 75 | 58 | 29% | -72 | 94 | 314 | |
% of net sales | 5.3 | 5.1 | -2.7 | 4.5 | 6.6 | ||
Comparable operating result | 85 | 71 | 20% | 151 | 112 | 35% | 357 |
% of net sales | 6.1 | 6.3 | 5.7 | 5.4 | 7.5 | ||
Comparable adjusted EBITA* | 91 | 79 | 15% | 163 | 128 | 28% | 388 |
% of net sales | 6.4 | 7.0 | 6.2 | 6.1 | 8.1 | ||
Profit before taxes | 72 | 53 | 37% | -74 | 88 | 296 | |
Basic earnings/share, EUR | 0.09 | 0.06 | -0.16 | 0.10 | 0.33 | ||
Cash flow from operating activities | -90 | 245 | -213 | 312 | 731 | ||
Net interest-bearing debt, end of period | 432 | 253 | 4 | ||||
Gross capital expenditure | 75 | 63 | 143 | ||||
Gearing | 0.21 | 0.12 | 0.00 | ||||
Solvency, % | 35.8 | 37.8 | 38.6 | ||||
Personnel, end of period | 17,547 | 17,386 | 1% | 17,305 |
*Comparable adjusted EBITA excludes items affecting comparability and purchase price allocation amortisation.
ANALYST AND PRESS CONFERENCE
A virtual analyst and press conference will be held as a webinar today, Thursday
If you only wish to view the stream, please register at: http://www.mediaserver.fi/live/wartsila.
If you plan to view the stream and ask questions in the Q&A session, please register at: https://register.gotowebinar.com/register/2285803732998893324.
Please register using only one of the links above, not both. Once you have registered, you will receive a confirmation email that includes specific joining instructions.
***
Please note that there will be no separate audio (phone) line for the event. The Q&A session will use the audio in the GoToWebinar tool itself. In case you are joining via mobile, you may need to install the free GoToWebinar app from the app store.
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A recording of the webcast will be available on the company website as soon as possible after the event.
For further information, please contact:
Executive Vice President & CFO
Tel. +358 10 709 5444
arjen.berends@wartsila.com
Vice President, Investor Relations
Tel. +358 10 709 1461
hanna-maria.heikkinen@wartsila.com
For press information, please contact:
Executive Vice President, Communications, Branding & Marketing
Tel: +358 10 709 5599
atte.palomaki@wartsila.com
https://news.cision.com/wartsila-corporation/r/wartsila-s-half-year-financial-report-january-june-2022,c3603881
https://mb.cision.com/Main/15003/3603881/1606420.pdf
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