WÄRTSILÄ CORPORATION

Transcription

1 WÄRTSILÄ CORPORATION JP MORGAN EUROPEAN CAPITAL GOODS CEO CONFERENCE 13 JUNE 2014 Björn Rosengren, President & CEO 1

2 Net sales by business 1-3/2014 Ship Power 38% Services 43% Power Plants 19% 2

3 Net sales and profitability MEUR % % 10.7% 11.1% 10.9% 11.2% 12% Review period development % 8% 6% 4% 2% % 8.9% 14% 12% 10% 8% 6% 4% 2% % 0 1-3/ /2014 0% Net sales EBIT % Figures shown before nonrecurring restructuring items 3

4 Order intake MEUR Review period development MEUR / /2014 Power Plants Ship Power Services 4

5 Order book distribution MEUR Delivery current year Delivery next year or later 5

6 Vessel contracting continues active 250 Merchant Offshore Cruise and Ferry Special vessels 3 months moving average in CGT * # of vessels * 2 Million CGT Source: Clarkson Research Services * CGT= gross tonnage compensated with workload 6

7 Growth in Ship Power order intake MEUR % 2% % % /2014 Merchant Offshore Other Special vessels 7

8 The most complete marine offering 8 v

9 Ship Power focus areas Efficiency Gas and dual-fuel solutions Offshore market Environmental solutions 9

10 Clear leadership in gas applications Power Plants Merchant Offshore Cruise & Ferry Navy Others Dual-fuel power plants 83 installations 375 engines Output 4.7 GW Online since 1997 Gas power plants 550 installations 1,700 engines Output 10.5 GW LNGC 145 vessels 585 engines Multigas Carrier 5 vessels 20 engines Conversion 1 chemical tanker 2 engines Ro-Ro 2 vessels 8 engines OSV s 31 vessels 96 engines Production 2 platforms 9 FPSO s 1 FSO 40 engines LNG cruise ferry 1 vessel 4 engines Complete gas train LNG ferries 5 ferries 20 engines Complete gas train Coastal patrol DF propulsion DF main and auxiliary engines Tug 2 vessels 2 engines each Mechanical drive Guide ship 1 vessel/engine IWW 2 vessels 3 engines 6 segments ~ 2,500 engines > 10,000,000 running hours 10

11 Power generation markets challenging Electricity consumption growth vs. GDP growth 7, Growth % 6,00 5,00 4,00 3,00 2,00 1, Electricity consumption GWh 0, ,00-2, GDP yearly growth rate Electricity production growth rate Electricity domestic consumption 11

12 Power Plants order intake by customer segment MEUR 2000 Review period development Total EUR 165 million (406) % 25% 24% Utilities Industrials IPP s* Review period order intake by fuel in MW Oil 41% Gas 59% /2014 *IPP = Independent Power Producer 12

13 Power Plants installed base Europe: Output: 12.5 GW Asia: Output: 19.8 GW Americas: Output: 11.7 GW Total: 56.2 GW Countries: 169 Plants: 4,700 Africa & Middle East: Output: 12.5 GW Utilities IPPs Industrials Others * December

14 Power Plants strategic focus Maintain leading position HFO & dual-fuel power plants Grow in the large utility gas power plants by capturing market share from gas turbines Grow in biofuel power plants by enabling a wide fuel range Energy Efficiency Smart Power Generation Grow in special applications - nuclear emergency power, combined heat & power, oil & gas and LNG infrastructure Fuel Flexibility Operational Flexibility 14

15 Developing medium-scale LNG infrastructure 15 v

16 The global vessel fleet operates in all corners of the world Source: Vesselsvalue Ltd. 16

17 Wärtsilä Services global network Installed base 182,000 MW 70 countries, 160 locations, 11,000 service professionals Widest range of offering and expertise 17

18 Marine customers remain focused on cost savings Breakdown of shipyard revenues from a typical dry docking USD thousand per vessel (on average) Painting and sand blasting Steelwork Mechanical and E&A Overhead and margin 18

19 Stable development in Services MEUR % % 17% % /2014 Spare parts Contracts Field service Projects 19

20 Development of installed engine base MW Power Plants Ship Power 20

21 Wärtsilä s service agreements around the world North Europe 2,900 MW Americas 5,140 MW South Europe & Africa 4,930 MW Middle East & Asia 5,390 MW Marine Power 21

22 Differentiated service offering through modularisation Culture and organisation Customer experience Growth and profitability through superior customer understanding Customer needs Customer focus Offering 22 v

23 An organisation based on divisions with end-to-end responsibility R&D Production Sales & marketing Product delivery Customer TRANSPARENCY ACCOUNTABILITY SPEED 23

24 Prospects for 2014 Wärtsilä expects its net sales for 2014 to grow by 0-10% and its operational profitability (EBIT% before non-recurring items) to be around 11%. 24 v

25 Positioned for growth even in challenging markets Smart Power Generation Gas as a fuel Environmental solutions 25

26 WARTSILA.COM IR Contact: Natalia Valtasaari Director, Investor Relations Tel (0)