ShippingWatch

Wärtsilä's order intake and bottom line declines in first quarter

The order intake took a plunge in the first quarter for Finnish manufacturer Wärtsilä, whose bottom line was close to halved. The supplier and its market are currently marked by considerable uncertainty due to the corona crisis.

Jaakko Eskola, CEO at Wärtsilä. | Photo: Wärtsila/PR/Miltton OY / Tomi Parkkonen

The order intake decreased by 12 percent in the first quarter for Finnish Wärtsilä, whose bottom line was nearly halved compared to the same period in 2019, according to the first quarter interim report published by the manufacturer on Tuesday.

The coronavirus outbreak has most recently generated increased pressure on the supplier sector, meaning that Wärtsilä withdrew its outlook for the year at the end of March. At the same time, the supplier would look to find cost savings amounting to EUR 100 million.

Read the whole article

Get 14 days free access.
No credit card required.

An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from ShippingWatch

Poseidon Principles set to raise ambitions in coming weeks

The banks in Poseidon Principles are working on the basis of halving CO2 emissions in shipping by 2050. At the same time, some of the same banks are working towards a target of CO2 neutrality by 2050 as part of the Net-Zero Banking Alliance. Before long, Poseidon will reassess its ambition.

Further reading

Related articles

Trial banner

Latest news

See all jobs