Wärtsilä boosts result in the fourth quarter

Finland's Wärtsilä lost orders in the fourth quarter but still delivered a solidly improved result, according to the company's interim and annual report for 2015. Shipping and shipbuilding remain challenging, notes the supplier.

Photo: Wärtsilä

Finnish subcontractor Wärtsilä advanced in the fourth quarter 2015 as the shipping and offshore supplier succeeded in lifting its result before taxes to EUR 199 million compared to EUR 157 million for the same period 2014, just as the net revenue advanced three percent to EUR 1.59 billion compared to 1.55 billion for the fourth quarter last year, according to the annual report, released Wednesday.

Meanwhile, Wärtsilä saw the total order intake decline by eight percent compared to the same period last year, with the figure dragged down mainly by energy solutions, while orders in marine increased significantly by 14 percent to EUR 465 million, compared to the third quarter, mostly due to an order for gas systems for 11 new vessels.

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