Finnish supplier Wärtsilä advanced on several parameters during 2021 despite the year being severely affected by new virus variants.

The number of orders for Wärtsilä grew by 32 percent last year compared to 2020. Specifically, the company had an order intake of a total EUR 5.7bn last year against EUR 4.3bn in 2020, reveals the annual report.

”In 2021, the Covid-19 pandemic continued to affect our end markets, our operations, and our financial performance,” says President and Chief Executive Håkan Agnevall on the result.

”New virus variants reminded us that the pandemic is not yet over. However, we saw signs of stabilization and recovery in both the marine and energy markets, and the order intake improved towards year-end.”

Earnings before interest and taxes (EBIT) also grew to EUR 314m during last year against EUR 234m in 2020.

The result was mainly driven by a more favorable sales mix between equipment and services as well as better utilization of service capacity, the company writes.

According to Wärtsilä, activity in ship orders was generally improved last year, particularly driven by the container market.

But activity in the company’s key segments, including the cruise industry, is reportedly still low.

Wärtsilä expects the improvements of 2021 to persist into 2022, when first-quarter demand in particular is set to be better than the corresponding period last year.

However, the market remains marked by uncertainty, the company says.

English edit: Jonas Sahl Hollænder

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