Marine Sales Supported 11% Increase in Wärtsilä's Q1 Orderbook

by Ship & Bunker News Team
Thursday April 28, 2022

Engineering firm Wärtsilä saw an 11% increase in its orderbook in the first quarter, supported by sales to the shipping industry.

The company's order intake grew by 11% on the year to EUR 1.38 billion ($1.45 billion) in the first three months of the year, Wärtsilä said in a statement on its website on Thursday.

The orderbook was "supported by a good level of equipment orders in the Marine Power, Marine Systems, and Energy businesses," the company said.

But the firm noted a pre-tax loss for the period of EUR 147 million, down from an EUR 35 million profit a year earlier. This was largely due to an EUR 200 million write-off related to the firm's withdrawal from activities in Russia.