WÄRTSILÄ INTERIM REPORT JANUARY-SEPTEMBER 2013 - Seite 2
WÄRTSILÄ'S PROSPECTS FOR 2013 REVISED
Wärtsilä specifies its net sales prospects for 2013. Based on the current order book, net sales for 2013 is expected to grow by 0-5%. Previously, Wärtsilä estimated that its net sales would grow by
0-10%. Wärtsilä reiterates its expectations that operational profitability (EBIT% before non-recurring items) will be around 11%.
KEY FIGURES
Re- stated3 7-9/2012 |
Re-stated3 1-9/2012 |
Re-stated3 2012 |
|||||
MEUR |
7-9/ 2013 |
Change |
1-9/ 2013 |
Change | |||
Order intake | 1 097 | 1 275 | -14% | 3 520 | 3 583 | -2% | 4 940 |
Order book at the end of the period | 4 568 | 4 724 | -3% | 4 492 | |||
Net sales | 1 209 | 1 087 | 11% | 3 243 | 3 191 | 2% | 4 725 |
Operating result (EBITA)1 | 146 | 122 | 20% | 343 | 354 | -3% | 552 |
% of net sales | 12.1 | 11.2 | 10.6 | 11.1 | 11.7 | ||
Operating result (EBIT)2 | 138 | 113 | 22% | 319 | 328 | -3% | 517 |
% of net sales | 11.4 | 10.4 | 9.8 | 10.3 | 10.9 | ||
Profit before taxes | 126 | 99 | 326 | 291 | 453 | ||
Earnings/share, EUR | 0.48 | 0.38 | 1.24 | 1.09 | 1.72 | ||
Cash flow from operating activities | 139 | 121 | 261 | -34 | 153 | ||
Net interest-bearing debt at the end of the period | 534 | 698 | 567 | ||||
Gross capital expenditure | 84 | 462 | 513 | ||||
Gearing | 0.31 | 0.42 | 0.32 |
1 EBITA is shown excluding non-recurring items of EUR 10 million (16) and intangible asset amortisation related to acquisitions of EUR 24 million (26) during the review period January-September 2013. During the third quarter, non-recurring items amounted to EUR 8 million (3) and intangible asset amortisation related to acquisitions to EUR 8 million (8).
2 EBIT is shown excluding non-recurring items.
3 Figures have been restated due to changes in pension accounting (IAS 19 Employee benefits).
MARKET OUTLOOK
The general macro-economic uncertainty and the slow global growth projections continue to impact power generation markets. Based on weaker global ordering statistics in the first half-year, the
overall market for natural gas and liquid fuel based power generation in 2013 is expected to decline. Ordering activity remains focused on the emerging markets, which continue to invest in new
power generation capacity. In the OECD countries, there is still pent-up power sector demand, mainly driven by CO2 neutral generation and the ramp down of older, mainly coal-based generation.
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