Wartsila Oyj Abp · OMXHEX:WRT1V
Wartsila Oyj Abp — Wärtsilä — Q3 2001 Earnings Presentation
19 slides from Wartsila Oyj Abp's earnings presentation, 2001
Slide 1: Wärtsilä Q3/2001
Wartsila Q3/2001 re, WARTSILA © WARTSILA 1SER166
Slide 2: Highlights
Highlights n Wärtsilä’s result before extraordinary items was EUR 27.5 million. n Power Divisions’ net sales up 12%. Power Divisions’ operating profit improved 31% to EUR 29.3 million, or 4.7% of net sales. n Sermet acquisition adds bio fuelled power plants to product range and strengthens Wärtsilä’
Slide 3: Wärtsilä key figures
Wärtsilä key figures EUR mill. 1-9/2001 1-9/2000 1-9/2000* 2000 Net sales 1,735.2 1,950.0 1,725.6 2,706.8 Operating profit 585.6 318.6 300.7 367.1 Profit before extraordinary items 586.9 285.2 262.5 336.1 Earnings per share, euro 6.62 3.53 4.20 * Proforma, excl. Sanitec. 1SER166 3
Slide 4: Divisional profitability
Divisional profitability Operating profit/net sales by quarter Q1/1999-Q3/2001 % 6 4 * Before * restructuring 2 provision 0 -2 -4 -6 Q1/99 Power Divisions Q3/01 % 12 10 8 6 4 2 0 -2 Q1/99 Imatra Steel Q3/01 1SER166 4
Slide 5: Power Divisions
Power Divisions EUR mill. 7-9/2001 7-9/2000 Change 2000 Net sales 624.6 558.2 11.9% 2,287.8 Operating profit 29.3 22.4 30.8% 86.2 % of net sales 4.7% 4.0% 3.8% Order intake 384.0 507.8 -24.4% 2,460.6 Order book 1,515.2 1,564.7 -3.2% 1,624.2 1800 Order book EUR mill. 1600 1400 1200 1000 800 600 400 2
Slide 6: Marine & Licensing
Marine & Licensing EUR mill. 7-9/2001 7-9/2000 Change 2000 Net sales 182.1 186.3 -2.3% 719.7 Order intake 96.5 218.1 -55.8% 878.9 Order book 823.1 841.0 -2.1% 888.1 Power Divisions net sales 7-9/2001 EUR 624.6 mill. n Marine & Licensing 29% 1SER166 6
Slide 7: Vessel orderbook by shipyard country
Vessel orderbook by shipyard country Source: Clarkson Research Studies 125 Korea Japan China Others Vessel Orderbook [ million DWT ] 100 75 50 25 0 12-96 06-97 12-97 06-98 12-98 06-99 12-99 06-00 12-00 06-01 Note: Cargo vessels > 5000 dwt 1SER166 7
Slide 8: Vessel orderbook by vessel type
Vessel orderbook by vessel type Source: Clarkson Research Studies 125 Tankers Bulkers Containers Others Vessel Orderbook [ million DWT ] 100 75 50 25 0 12-96 06-97 12-97 06-98 12-98 06-99 12-99 06-00 12-00 06-01 Note: Cargo vessels > 5000 dwt 1SER166 8
Slide 9: Net sales breakdown of Wärtsilä marine engines
Net sales breakdown of Wärtsilä marine engines 800 EUR mill. 600 400 200 0 1997PF 1998PF 1999 2000 Cruise ships Ferries Offshore, special, fishing & navy vessels General cargo & container vessels Tankers Bulk carriers Other Note: 1997 & 1998 including Grandi Motori Trieste 1SER166 9
Slide 10: Vessel orderbook cruiseships & ferries
Vessel orderbook cruiseships & ferries Source: Clarkson Research Studies 7 2001 2002 2003 2004 2005 2006 (year of vessel delivery) 6 Vessel Orderbook [ million grt ] 5 4 3 2 1 0 12-96 06-97 12-97 06-98 12-98 06-99 12-99 06-00 12-00 06-01 Note: Sea-going vessels 1SER166 10
Slide 11: Power Plants
Power Plants EUR mill. 7-9/2001 7-9/2000 Change 2000 Net sales 237.2 194.1 22.2% 834.6 Order intake 30.9 108.7 -71.6% 851.0 Order intake MW 76 296 -74.1% 1,929.2 of which gas power plants 9 19 -55.5% 232.0 Order book 420.5 539.4 -22.0% 518.5 Power Divisions net sales 7-9/2001 EUR 624.6 mill. n Power
Slide 12: Wärtsilä expands to bio power
Wärtsilä expands to bio power Sermet acquisition n Specialized in small and medium-sized boiler plants running on biofuels and gas n Sermet BioGrate rotating grate combustion technology is patented n Fits into Wärtsilä’s strategy of decentralised power production and expands the range of combined he
Slide 13: Bio power markets
Bio power markets n Bio fuels available globally : - Wood and forest biomass, RDF, peat etc. n Technologies: - Grate, fluidized beds, gasification, pyrolysis n CO2 neutral n EU white paper: until 2010 renewables from 6% to 12% n Present European sales 200-300 MW/a n In Europe 1000 MWe under construc
Slide 14: Reciprocating engine and gas turbine orders to power plants
Reciprocating engine and gas turbine orders to power plants 1-60 MW unit size (from June 00 to May 01) MW 20000 Gas Turbines 17,264 MW 18000 Other Engine Makers 16000 Wärtsilä 13,058 MW 12,885 MW 14000 526 12000 9,395 MW 10000 955 15584 8000 11375 6000 12323 4000 2,169 MW 2,226 MW 8189 2000 175 5114
Slide 15: Service
Service EUR mill. 7-9/2001 7-9/2000 Change 2000 Net sales 197.9 171.9 15.1% 702.0 Personnel, end of period 4,915 4,465* 10.1% 4,485* O&M agreements, MW 1,631 1,239 31.6% 1,262 *Proforma figures, includes 485 O&M personnel. Power Divisions net sales 7-9/2001 EUR 624.6 mill. n Service 32% 1SER166 15
Slide 16: Growth of Service
Growth of Service Net sales by quarter Q1/1999-Q3/2001 200 40 % Net sales EUR mill. 150 30 % Growth 100 20 % 50 10 % 0 0% Q1/1999 Q3/2001 1SER166 16
Slide 17: Fast Track Gas Conversion
Fast Track Gas Conversion Wärtsilä 32 HFO engine converted to Wärtsilä 34SG gas engine mg NOX / Nm3 at 5% O2 n Fast-track turnkey project for Tintrofa 6000 S.A., Portugal. 5000 n Power plant built in 4000 1994 48,000 running 3000 hours. 2000 n After gas conversion 1000 NOX emissions decreased by som
Slide 18: Imatra Steel
Imatra Steel EUR mill. 7-9/2001 7-9/2000 Change 2000 Net sales 36.7 39.6 -7.3% 194.1 Operating profit/loss -0.5 0.3 17.4 % of net sales -1.4% 0.8% 9.0% n Normal maintenance shutdowns Wärtsilä net sales n Demand in both the vehicle 7-9/2001 EUR 661.4 mill. and mechanical engineering n Imatra Steel 5.
Slide 19: Outlook for 2001
Outlook for 2001 Power Divisions n The uncertain market conditions will be reflected in Power Divisions during the final months of 2001 n Net sales will stay on the same level as last year n The result from operations is expected to reach last year’s level n However, the operating profit will be low