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Wartsila Oyj Abp is a Finland-based company, which offers technologies and complete lifecycle solutions for the marine and energy markets. Its operations are divided into three segments: Energy Solutions, Marine Solutions and Services. The Energy Solutions segment offers flexible internal combustion engine based power plants and utility-scale solar PV power plants, as well as LNG terminals and distribution systems. The Marine Solutions segment provide solutions within marine and oil & gas industries, namely medium-speed diesel and dual-fuel engines, propulsion systems and gears, seals and bearings, navigation and automation systems, environmental solutions and gas systems, as well as ship design, among others. The Services segment comprises services within such areas, as engine systems, propulsion systems, seals & bearings, hydro and industrial installations, among others. The Company has operations in more than 160 locations in over 70 countries.
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Wartsila posted third-quarter earnings per share below market forecasts on Friday, saying the COVID-19 pandemic continued to deter potential customers from investing in both its marine and energy markets.
Wartsila posted third-quarter earnings per share below market forecasts on Friday, saying the COVID-19 pandemic continued to limit investments in both its marine and energy markets.
Finland's Wartsila <WRT1V.HE> sees the second half of the year as 'extremely challenging', its chief executive said on Friday, after the engineering firm reported smaller-than-feared 51% drop in April-June profits.
Finland's Wartsila on Friday reported a 51% drop in quarterly operating profit, as demand for its ship technology and power plants slumped due to the coronavirus outbreak.
Finnish telecoms equipment maker Nokia <NOKIA.HE> named a new finance chief on Thursday, completing an overhaul of its top executive team as it battles rivals Ericsson <ERICb.ST> and Huawei [HWT.UL] for work on lucrative 5G networks.
Finland's Wartsila plans to cut 700 jobs globally as the Finnish engineering group splits its ship technology business into three separate business units.
* Mixed Q1 results with 45% drop in profits but orders falling less than expected
Finnish ship technology and power-plant maker Wartsila reported on Tuesday a smaller-than-expected drop in its order intake because of the coronavirus outbreak.
Finnish engineering firm Wartsila said on Thursday it was initiating statutory negotiations with all its 3,800 employees in Finland over temporary layoffs of up to 90 days.
Finnish engineering firm Wartsila said on Tuesday demand for its services had started to weaken as its customers' operations are affected by the coronavirus outbreak.
Finnish engineering firm Wartsila said on Tuesday demand for its solutions and services has started to weaken as its customer's operations are hurt by coronavirus.
* WÄRTSILÄ LAUNCHES ACTIONS TO MITIGATE THE IMPACT OF COVID-19 AND WITHDRAWS ITS MARKET OUTLOOK
Finnish ship technology and power-plant maker Wartsila reported on Thursday a better-than-expected order intake that sent its shares up more than 4% at trade opening, despite a tough outlook for 2020.
Finnish ship technology and power-plant maker Wartsila reported on Thursday lower-than-expected quarterly profit, burdened by slower demand.
Finland's Wartsila <WRT1V.HE> warned on Friday of a tough outlook for 2020 due to weaker demand for its ship technology and power plants and took a surprise multi-million euros charge on project cost overruns.
Finland's Wartsila Oyj <WRT1V.HE> missed second-quarter forecasts on Thursday and warned that it expected demand to weaken for both its marine and energy businesses, sending shares in the engineering firm to a three-year low.
Finland's Wartsila Oyj missed second-quarter forecasts on Thursday and warned it expects demand to weaken for both its marine and energy businesses in the coming 12 months, sending shares in the engineering firm 8 percent lower.
Wartsila said on Thursday its quarterly order intake lagged estimates, as the Finnish engineering group struggled with a slow of recovery in the marine industry and subdued activity in the energy market.
Finnish ship technology and power-plant maker Wartsila said it would shed 1,200 jobs, six percent of its workforce, to save 100 million euros a year by the end of 2020 as it missed quarterly profit forecasts.
* Finnish firm sees growth from sulphur scrubbers (Adds CEO comments, background on scrubbers, updates shares)
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