Wärtsilä Corporation STOCK EXCHANGE RELEASE 15 March 2006 at 3.30 pm local time
President and CEO Ole Johansson’s review at the AGM:
Order intake in January-February 40% higher than in same period last year; profitability forecast for current year unchanged.
At Wärtsilä’s Annual General Meeting, which will start at 4.00 pm today, 15 March 2006, President and CEO Ole Johansson will describe the company’s development in the first two months of 2006 as follows:
”Demand in both the marine and onshore power plant markets has continued to be positive during the first months of this year and, from Wärtsilä’s perspective, would appear to remain so for at least the first half of the current year. The total order intake for January and February was 645 million euros, which was 40 per cent higher than in the same period last year. The order book at the end of February exceeded 3 billion euros.”
The profitability forecast for the full year 2006, published in the Financial Statements Bulletin, remains unchanged. Mr Johansson continues:
”Based on the growth of our Services business and our good order book, we believe that our net sales will increase this year by as much as 20 per cent. The profitability level reached in 2005 will remain. In this context, however, it is good to remember that Wärtsilä’s profitability varies considerably from one quarter to another, and the same will be true this year as well. The first quarter, like last year, is likely again to be clearly the weakest, and the last quarter the best.
We expect net sales to show further growth in 2007.
Wärtsilä is well prepared to handle its record-high order book and, with its new structure, to face possible downswings in the future.”
Annual General Meeting 2006 CEO review PDF, 19Kb »