Wärtsilä expects its net sales to rise 0-5% in 2016
Net sales of Wärtsilä Corporation in Q4 2015 increased by 3% to EUR 1,590 million and by 5% year-on-year to EUR 5,029 million in January-December 2015, the Finish company said in its interim financial statement for Q4 and January-December 2015.
Order intake of for the quarter decreased by 8% to EUR 1,403 million and for the 12-month period – by 3% to EUR 4,932 million. EBITA reached EUR 224 million in Q4, or 14.1% of net sales and EUR 643 million, or 12.8% of net sales in 2015. Operating result before non-recurring items reached EUR 612 million, or 12.2% of net sales (EUR 569 million or 11.9%). Earnings per share for the three month period was 0.79 euro (0.60) and in for the entire year – it was 2.25 euro (1.76). Cash flow from operating activities in the forth quarter dropped to EUR 176 million and to EUR 255 million for the 12month period. Order book at the end of the year increased 8% to EUR 4,882 million (4,530)
Jaakko Eskola, President and CEO comments: “A solid fourth quarter and continued growth in service volumes supported us in reaching our targets for the year 2015. Net sales grew by 5% and profitability reached 12.2%.
“Looking into 2016, we expect the market situation to remain similar to that seen during the previous year. The favourable development of service activity is expected to continue, while conditions in energy markets will remain challenging and the demand for new vessels limited due to overcapacity and low oil prices.”
In 2016 Wärtsilä expects its net sales to grow by 0-5% and its operational profitability (EBIT% before non-recurring items) to be between 12.5 and 13.0%.
Helsinki-headquartered Finnish Corporation Wärtsilä is a global leader in complete lifecycle power solutions for the marine and energy markets. By emphasising technological innovation and total efficiency, Wärtsilä maximizes the environmental and economic performance of the vessels and power plants of its customers. In 2015, Wärtsilä's net sales totalled EUR 5.0 billion. The Corporation staff is approximately 18,900 employees. The company has operations in more than 200 locations in nearly 70 countries around the world. Wärtsilä is listed on the Nasdaq Helsinki.
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