2013 offers opportunities for environmental solutions, says Wartsila
Wartsila has published its financial results for 2012, which have shown steady levels of profitability for the marine propulsion solutions provider. The company is investing R&D that supports the development of low-speed dual-fuel engine technology.…
Marine power solutions provider, Wartsila has published its financial reports for 2012, which have indicated a 12 per cent increase in net sales to €4.73 billion with an operating profit of €515 million, equivalent to 10.9 per cent of net sales.
Commenting on the results Wartsila’s president and CEO, Bjorn Rosengren said he was pleased, in the context of the global economy. “[It] was a year marked by difficult conditions in the global economy”, he said. “The order intake grew by nine per cent, with strong development in ship power orders. During 2012 we also closed our largest ever acquisition with the purchase of Hamworthy. This supports our growth strategy in the marine, gas and environmental solutions markets.”
Based on the 21012 results, Wartsila expects 2013 to post growth of 0-10 per cent, with profitability of around 11 per cent.
Looking to the coming year, a statement to the industry read:
The general economic uncertainty and the slow global growth projections are expected to continue to impact power generation markets. It is expected that the overall market for natural gas and liquid fuel based power generation in 2013 will be similar to that of 2012.
Overall, the contracting mix is expected to be in line with that seen in 2012, favouring offshore and specialised vessel segments. Interesting opportunities can be seen in environmental solutions and fuel-efficient designs.
Furthermore, the development of Wartsila’s low-speed dual-fuel engine technology is progressing at its testing laboratory in Italy. Tests have shown that it will meet IMO Tier III emission requirements without the need for exhaust gas treatment technology. The system will undergo full engine testing throughout 2013, with the first on board installation scheduled for 2014.
Commenting on the results Wartsila’s president and CEO, Bjorn Rosengren said he was pleased, in the context of the global economy. “[It] was a year marked by difficult conditions in the global economy”, he said. “The order intake grew by nine per cent, with strong development in ship power orders. During 2012 we also closed our largest ever acquisition with the purchase of Hamworthy. This supports our growth strategy in the marine, gas and environmental solutions markets.”
Based on the 21012 results, Wartsila expects 2013 to post growth of 0-10 per cent, with profitability of around 11 per cent.
Looking to the coming year, a statement to the industry read:
The general economic uncertainty and the slow global growth projections are expected to continue to impact power generation markets. It is expected that the overall market for natural gas and liquid fuel based power generation in 2013 will be similar to that of 2012.
Overall, the contracting mix is expected to be in line with that seen in 2012, favouring offshore and specialised vessel segments. Interesting opportunities can be seen in environmental solutions and fuel-efficient designs.
Project Xvintage, presented at the 2011 Global Superyacht Forum, showcased Wartsila's commitment to innovation in the field of dual-fuel technology. Click here for a full profile of Xvintage.
Investment in innovation is what has kept Wartsila at the forefront of marine power solutions, as evidenced by its dual-fuel propulsion collaborative superyacht Project Xvintage, and the company’s strategy for 2013 has placed a similar emphasis on R&D. Type approval has been gained for its AQUARIUS UV ballast water management system, with the first deliveries despatched. It has also received IMO Basic Approval for its AQUARIUS EC (electro-chlorination) system, with type approval due in 2013 Q2.Furthermore, the development of Wartsila’s low-speed dual-fuel engine technology is progressing at its testing laboratory in Italy. Tests have shown that it will meet IMO Tier III emission requirements without the need for exhaust gas treatment technology. The system will undergo full engine testing throughout 2013, with the first on board installation scheduled for 2014.
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