EMEA News
Marine Gas Products Help Wärtsilä Growth
Growing interest in dual-fuel marine engines helped Finland-based Wärtsilä Corporation (Wärtsilä) grow in 2012, the company says, and it predicts similar growth this year.
"I am pleased with our result for the year 2012, which was a year marked by difficult conditions in the global economy," said Björn Rosengren, president and CEO.
"Supported by a very strong fourth quarter, Wärtsilä's full year net sales grew by 12% with profitability at 10.9%."
The company said interest in marine gas products stayed strong over the year, and the January 2012 acquisition of Hamworthy Plc (Hamworthy), which sells equipment and services to the marine, oil & gas, and industrial sectors, helped the company's position in those markets.
"Looking at 2013, the economic situation continues to be uncertain, however our outlook for the markets remains stable," Rosengren said.
"Supported by the solid order book, we see some growth in net sales next year and believe we can maintain our profitability on approximately the same level as in 2012."
Wärtsilä said its outlook for the shipping and shipbuilding market in 2013 is cautious, but expects it to be "slightly better" than in 2012.
"Interesting opportunities can be seen in environmental solutions and fuel efficient designs," it said.
Wärtsilä announced in May that it has provided dual-fuel technology to 100 liquefied natural gas (LNG) carriers.
